Reconnecting with Old Leads to Jumpstart Your Business

An important transformation takes place in the career of any real estate sales agent around their third year in the industry.

The first year is all about learning the ropes, and the second helps you focus on discovering your niche – both what you enjoy doing and who your ideal customers are. During those early years, you may find yourself putting in extra hours and spending lots of effort building a successful referral business.

From there, as your business continues to grow, it's often easy for agents to fall into a pattern of "chasing down" new leads.

To an extent, this makes sense. And it works for a while. After all, you need time to find yourself and define what your brand is all about. You won't be able to go after what you want with laser focus until you can decide what it is you actually want. While others can advise you, nobody can choose for you.

Soon enough, though, it's time to change how you approach lead generation.

That means:

• Instead of chasing leads, you need to establish ways to entice them to come directly to you
• Instead of a single transaction, you should build lead relationships to provide recurring value

Luckily, you can achieve both goals by consistently using the proper communication techniques. At its heart, expanding any business relationship comes from following up diligently and adding value consistently. The right real estate marketing automation technology makes this easier, like the features in the DeltaNET®, even with a busy schedule.

This transformation is essential for scaling and growing your business.

As you build a reputation in your community, you'll come into contact with more people who can benefit from your expertise. At some point, creating the business you want means shifting from quantity of relationships to quality. If you stay on the offensive, always chasing more, you may burn out.

Deepen or rekindle your existing relationships, however, and you'll always have opportunities to pursue.

Who Counts as an Old Lead?

Old leads come in two flavors:

• Those who became customers and had a successful transaction in the past
• Those who showed promise but didn't commit and dropped off your radar

Remember, just because a lead fades from the spotlight doesn't mean he or she rejected you. On the contrary, many leads talk themselves out of taking action because of changing conditions in the market. It's no reflection on you, but you still have the power to make a difference in what happens next.

If you're using Customer Relationship Management (CRM) software, it's very easy to see where leads stand.

At a glance, you'll be able to see precisely where you first connected with your leads, the whole history of your interactions, and what their status was the last time you were in contact. This can give you the insight you need to choose the right timing and tactics for getting in touch.

In an ideal world, real estate pros would have the time and energy to follow up with every lapsed lead, to see if they have any ongoing needs, and check for the possibility of referrals. With a limited pool of focus every day, though, it's a good idea to optimize the process. There are two elements to that:

• Making sure you prioritize the leads most likely to generate real business value
• Using the correct follow-up techniques to match with their communication style

Seven Ideas for Reconnecting with Old Real Estate Leads

Let's look at some of the best methods for getting old leads back into the game:

Develop (or Revisit) Your Customer Persona

Who is your ideal customer? Buyer or seller? What are their biggest challenges? What hopes and dreams drive them into the real estate market, and what holds them back? Focusing on your ideal customers has advantages for both of you—you'll each enjoy a longer, more beneficial relationship with fewer issues along the way. Once you define your perfect customer, look over your old leads to identify the closest matches, then reach out.

Put Your Brand Promise into Words

A "brand promise" is a single, concise statement of what sets you apart from the rest. It's the central experience you strive to deliver to everybody who chooses you. By crystallizing your goals this way, you are putting your unique skills and values into action – and doing so in a way that's easy to remember and act on. "I make the home-buying process simple and stress-free for first-time buyers" is one example. What's yours?

Forward Useful Blog Posts to Your Leads

Once you know precisely what leads are out there and who your brand promise might resonate with, it's time to get in touch. Adding value is the secret to positioning yourself as a trusted advisor, even when it takes weeks or months for leads to dive in. Don't just send a message to "see how they're doing" – link a relevant post from your blog with a reminder about a past conversation, then ask if their needs have changed.

Use a Follow-Up Email Message

One of the best ways to manage a large number of old leads is to get them onto the right segment of your email list. A segment is a list-within-a-list whose members receive exclusive content. Most real estate agents have a segment for leads, one for current customers, and one for past customers. However, nothing is stopping you from writing a personal message to catch up with your missing leads any time you wish.

Ping Your Leads on Social Media

If your leads follow you on Facebook, LinkedIn, Instagram, or even Twitter, you have an immediate "in" by sending them a direct message. Leads usually don't leave their DMs untouched, so you're likely to get a reply within 24 hours as long as they are still active on the platform. It can be a good idea to set your notifications so you can respond to their answer as soon as possible, potentially starting a one-on-one conversation.

Check Up on Expired and FSBO Listings

Sadly, sellers who decide to strike out on their own usually wait longer for success and earn less money. If one of your leads went down this path, check up on expired and "For Sale By Owner" listings to see how they did. After the stress and disappointment of the DIY method, they are much more likely to take your expertise seriously. The sooner you can get them re-listed with appropriate guidance, the better!

Ask Questions with Text Messaging

Did your leads opt into text messaging? Text offers you an even more intimate (and much faster!) way of communicating than email or social media. You'll be surprised how quickly lapsed leads you haven't heard from in months might pop out of the woodwork with a text message as simple as "Hi [Name], are you still looking for a home in Walnut Creek?" Since they only take seconds, many brokerages use SMS texts as a first option.

No matter what methods you decide to use, following up is the name of the game in real estate. Backed by the right real estate marketing technology, you can cover more ground and capture more business from contacts who might otherwise slip through the cracks. With these tips and a good CRM, you are on your way.

In need of a good CRM? RE Technology readers can try DeltaNET 6 free for 30 days.

To view the original article, visit the Delta Media Group blog.