Sales Tips and Follow Up Requirements for Realtors and Loan Officers
Are you gaining new prospects, referral sources and market share? Are you focused long term on gaining relationships and the actions for success?
Lucretius said, “Constant dripping hollows out a stone”
Are you hollowing out the stone for new referrals and prospects?
Better yet, do you follow through and follow up?
A huge majority of sales people don’t follow-up with their most recent customers let alone new prospects. In fact over 48% of sales people never follow-up with customers what-so-ever.
But the statistics tell us sales are made just:
- 2% of the time on the first visit.
- 3% of the time on the second visit.
- 5% of the time on the third visit.
- 10% of the time on the fourth contact.
A full 80% of sales are made on or after the fifth contact.
How many times are you visiting or contacting your potential prospects before you give up?
Think about this in your business. Think about the last person to ask YOU for business. It might be an insurance agent wanting referrals for your purchase clients or a home inspector looking to be suggested during the inspection period. It might even be the local mortgage loan officer. Do they expect your business the first time you meet just because they showed up at your door?
How many times would you want to talk to them before you trusted them with YOUR business? How many times did they contact YOU before they either gave up and quit contacting you or they won your business?
How many times do you call or market to a new potential clients before you stop?
So how are salespeople doing? Sadly 90% of salespeople make 3 or fewer contacts which is interesting since it has been proven that 80% of sales are completed after the 5th call or contact.
How do you compare?
If you REALLY want the business do not take no for an answer. Take your prospects NO or indifference as a NOT YET because you have not built up enough trust and leverage to earn their business. So what can you do?
Commit today to:
- Send——–1 more hand written card
- Set———-1 more coffee appointment
- Deliver—–1 more letter of interest or personally memorable item
- Make——–1 more phone call
Your prospects should trust that you follow up diligently and consistently with them to earn their business so they can feel confident that you will work that hard “ON” their business. They should realize that you did the same to GET their business and stand out from the crowd.
Remember, “Constant dripping hollows out a stone.”
Start today and break through to new prospects.
Derek R. Egeberg