There are some sobering trends in real estate lead follow-up: 80% of all sales are made from the 5th to 12th contact…45% of leads are not contacted at all or contact is stopped after the initial touch.

Yikes. If you’ve got new leads coming in everyday, but your closed transactions are dropping, and you’re losing business while your lead generation is staying strong, you need to take a closer look at your follow-up process.

The average real estate agent can call up to 30 leads per hour. Many teams have a goal to make contact with a lead in the first 5 minutes, but what happens when those leads tell you they’re a few months out from buying or to check back in a week? You suddenly have a database of several hundred leads, waiting to be re-contacted.

Calling 30 of your leads within an hour, one day a week, will hardly make a dent in your database. Plus, the manual process of calling each lead and logging the notes is tedious – both on the mind and body.

Leads will go to your competitors if you can’t contact them in time, so you need to improve the amount of leads you prospect without overloading your work.

The Benefit to Real Estate Phone Dialers

An agent can call on average 30 leads per hour. With a real estate phone dialer, you can call up to 85 leads per hour. That’s 55 more leads called, and that’s 55 opportunities to sell real estate. Increasing your prospecting by 183% equates to several thousand dollars added back to your pocket.

The key benefits to using a phone dialer:

• You won’t get burned out calling all the numbers.
• It can leave pre-recorded voicemails.
• You save time between calling large amounts of people.
• More prospecting and qualifying gets done, meaning more business.

Real Estate Phone Dialer + CRM

A phone dialer will help you call more leads, but if you and the team have to spend more time logging notes in various systems, it only detracts from the product’s value. What you want to find is a set of tools that can integrate with each other. That way, you can keep track of your emails and phone calls in one place.

[Learn about the BoomTown CRM + Mojo Dialer Integration]

Not to mention that a solid lead follow-up plan will need to cover more bases than phone calls. Emails and texting are often preferred methods of communication for many leads, and you’ll need to manage those communication channels too. To make the most out of the leads you’re generating, you need to make sure you have a system that provides multiple communication options, and automatically collects data and prompts you with key  information.

When you’re working with a powerful CRM, it’s easy to create “Action Plans” for each type of audience in your database. This means you can create a follow-up plan specifically for new leads, or for leads who are 6 months out (or any other marketing situation!). These should include a variation of to-dos to call, email, text, and even to set leads on email drip campaigns. To get you in the right frame of mind, here’s a sample plan for new leads:

Day 1

• Call
• Goal: LPMAMA
• Text
• Set up e-Alert

Day 2

• Send email
• Call
• Before calling, check if e-Alert was opened or favorited listings, etc.

Day 3

• Text

Day 4

• Call or leave voicemail

Day 5

• Email

Day 6

• Text: Do you prefer to be contacted through calls, text, or email?

Day 7

• Call and leave voicemail: Hi (lead name), this is (your name) with (Team/Brokerage name). I’m just following up on my call from the other day and was hoping this was a better time to reach you. Please give me a call or shoot me a text when you’re free. My number is (555)-555-5555. Talk to you soon!

Day 8

• Text: Hey {VisitorFirstName}, I’m working on my schedule this {TimeOfDay}, would you like to set-up a showing for any of the homes you’ve seen?

This plan goes on for 14 days of follow-up, and the full version can be found in the Sharing Library. This is where BoomTown clients share their best follow-up plans, ranked by response rate. The BoomTown communities provide a platform for users to share best practices, mastermind strategies, and compare successes, and we’ve got many more tips on how to personalize your lead follow-up.

The Best Time to Call Leads

As you begin to prospect bigger lists of leads, studies have shown which times and days work in your favor, and which don’t. According to research done by MIT Professor Oldroyd, the best time to call a lead and have them respond is Wednesday or Thursday.

The best time to call and qualify leads is between 8-9am and 4-5pm.

Lead Follow-Up in 90 Seconds

If you want to know how you can follow-up with leads in the BoomTown CRM, check out our quick video above or visit the BoomTown Library and watch our other videos on lead follow-up.

Qualifying Leads on the Phone

When you reach a lead on the phone success is not yours yet. You have to ensure you don’t waste your time and make sure the call is effective (for you and your prospect!) A great tool to remember is LPMAMA. When you get a lead on the phone, use this acronym to help remember exactly what information you need to collect and quality your lead when you’re on the phone.

LPMAMA – Use for all prospecting calls:

Location – Where do they want to live?

Price – How much can they afford?

Motivation – When can they move in?

Agent – Have they signed a buyer agency agreement with another Agent?

Mortgage – Paying cash or will they need a mortgage?

Appointment– Close for the appointment!

Prospecting 183% More Leads

When you look at your lead database, you see a number. Prospecting all those leads can seem impossible with traditional methods. If you want to reclaim money sitting on the table, you need to be smart with how you prospect. Cold-calling and mass emailing aren’t as effective as targeting a select group with tailored messaging. Learn how to prospect better: click here.

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