Many people today will not make a decision over the phone or on the first call you make. This means you need to call back and follow up on the previous contact. How you do this and when you do it is a strategy that needs to be practiced.
If you say you are going to call them back, make sure you do it and in a timely manner. Most salespeople call later or don’t call back. Your response and diligence in calling should be a point of difference for you. Prospecting calls are critical to the real estate business.
Capturing key information will help you in the callback process. The more you know, the easier the second call is and can be turned into the meeting or sale you need.
Here are some key points to record from the first call that will help you increase your market intelligence and set up the ongoing process of prospect calls.
- What are your current contact numbers and email?
- Identify any key customer beliefs or loyalty.
- What do they have now and how does that work for them?
- Would they be comfortable with you staying in touch over time?
- What do you think of the current real estate market?
- Have you heard of adjoining or nearby homeowners considering a move, and if so, what?
- Understand the full demographics of the prospect, such as the needs of the property and the current situation of the property.
- See if they have dealt with any competitor recently and if that was successful.
- Where are they in the real estate cycle and how long is the cycle for them? You want to be in touch the next time they consider a change. The average turnaround cycle in real estate is 5 years. This says that you should stay in regular contact for some time as you move towards the next ownership change. Constant contact builds trust and respect. This will help you when the prospect is ready to act.
- Are they under any pressure to switch to other premises now and, if so, what will be the main criteria they must satisfy?
- How do you see the current market? Can that offer them an opportunity?
Get in the habit of capturing all phone calls, both incoming and outgoing, on a standard customer inquiry sheet. It will help you ask the right questions and establish the contact for the next call.
Unsurprisingly, this information must be entered into a database or CRM program for further action. Your personal business will grow on the back of your database and how you use it.