Asked another way, do you spend your days chasing leads or working with clients? The NAR states that most Realtors need to work with about 400 leads for every closed transaction. Leads can range in quality, of course, and can come from your personal network, purchased lists or online sources. Plenty of Realtors (and Loan Officers for that matter) sit by the phone all day and call leads. Some don’t answer, some answer but they’re already working with someone else. That stings! You sat by the phone all day and someone else still got there first. There is a better formula.
Now that social media is a big part of our lives, enterprising sales people see it as a way to get more leads. You buy ads, search through groups, post on your business page all in the name of generating more leads, right? WRONG! SO WRONG!
Think of your favorite coffee company. Based on your age and area, I bet I can guess it. If you’re my age, it’s definitely Starbucks. When you think of coffee, it’s what you think of because you probably have a deep relationship with the brand. That green mermaid logo probably makes you feel a little more awake every time you see it. You order your drink a certain way and you’re mad when it’s not exactly right. When someone complains the coffee is too bitter, you defend Starbucks. That’s pretty silly isn’t it, it’s a billion dollar company it doesn’t need you to defend it from some random person sipping a McCafe. But you feel a bond with Starbucks, it’s more than just a brand to you. It’s your coffee place. And if you have teenage kids like I do, you know it’s all about Dutch Bros.
The same happens with smaller brands. Of course you need to establish your business in the same basic ways every marketing 101 seminar will tell you – set up a website, get a logo, set up a CRM, create your profiles and post on them regularly. Buy ads, write content, by all means! But if you’re doing it all just to “create leads,” you’re going to be on a treadmill.
That’s because liking a brand on Facebook doesn’t correlate to increasing buying behavior. Assuming your goal is to get clients and referrals and not just a bunch of likes that might look good but won’t change your bottom line, you need to change the way you think about those likes and your behavior when you get them.
First, your goal for your existing clients should be to fulfill the basic expectations (close on time, communicate well, etc), your promise or USP and get them to engage with you on social media. Bare minimum this should be liking your Facebook page and leaving you a 5 star review on the review site of your choice (Zillow and yelp are good ones to focus on). If your clients can’t rate you, they are going to struggle to refer you. Make them a raving fan and make it easy for them to share their bond with you online.
Next, as this network promotes you, engage with every new like on your page personally. Send them a quick message and ask them how you can help. I’ve liked dozens of Facebook pages and never gotten a message. Why? The fortune is in the follow up!
Finally establish a follow up system with every one of your clients and fans. Call and text them all twice a year. Build a real relationship. And, most importantly, ask for a referral. The people who get the most referrals are the ones who ask the most.
So next time you check your Facebook page and are disappointed to see a few dozen likes, ask yourself, have I engaged all of them? Am I passively expecting these users to become fans? If you’re not sure where to start, join us for an A+ Agent class. We’ll help you build your promise, establish your brand in the community and set a follow up strategy so you can grow along with Academy Mortgage.