Out-Earn Your Competition with One Little Step
There are other investors in your area, no matter where you live. Do you want them to rise to the top, or would YOU like that position?…
If you’re more competitive than most, you are aware of their names, their jobs, and their earning potential. That’s okay, especially if it stirs your motivation or gives you a baseline to strive for.
But what can you do right now to pass your competition? How can you get the house first, make more profit, secure your name in the market?
Want to set yourself apart from other investors? Here’s one simple step that will skyrocket you closer to the top…
Follow up with people.
Yup. Those four little words will help you get there! Here’s how:
1. Know how often and how soon after making contact.
A good rule is to make contact with someone within three days of meeting them. From there, opinions vary. But you shouldn’t stop with one left voicemail.
2. Know who to follow up with.
Ideal clients are best, someone who has what you want (such as a distressed home owner). But actually, you should follow up with most people you come in contact with. Just because you’re always on your best behavior and trying to make the highest first impression possible doesn’t mean others are. If a potential brokering client seemed crabby when you met them, they may have just been having a bad day. Don’t miss out on potential clients on first impressions alone.
From there, get to know who you’re dealing with, so you can direct the conversation accordingly.
3. Keep track of when you follow up with people.
If you need a calendar or schedule just to track follow up times and appointments, then get on it. If you’re following my Rule of 56, you’re making a lot of connections. You should need a calendar to keep track of everyone, or you might not be as involved as you think.
4. Be flexible until you find the right approach.
Maybe you need to pick up the phone. Maybe email works better for some. With our ever-changing age of technology, some might prefer a text or a Linkedin invite. I always call when I can, but if you can’t get a response, try another method.
5. Know when to stop.
Have you called and emailed someone 10 times in a month and they haven’t made any attempt to return your messages? The chances are good that the client isn’t interested and your time is better spent with someone else. Not every connection you make will turn into a business relationship no matter how much or how well you follow up. Although following up will increase your business, sometimes it just doesn’t work.
To increase your chances of the follow-up working to your favor, keep these tips in mind to maximize your return, and make this process work for you:
1. Be authentic and work on building the relationship.
Authenticity and relationships go hand-in-hand. Get a little personal, too. What do they want? How can you help? What is their current situation? What are their family’s needs?
Not only will this help build relationships, but you’ll also find out information that is helpful when purchasing a house, building a client list for brokering, or selling llamas. Keep in mind, people don’t often remember YOU, but they will remember how you made them feel. Go into a follow-up conversation with an attitude, and they’ll remember. If you aren’t sincere when you follow up, people will sense it and treat you accordingly. Is that how you want to build your business?
2. Care about the call.
Don’t call your contacts when you’re in a rush or overly nervous. Take time to think about what you’re going to say, what the purpose of the call is, and the points you need to make, then be organized with your thoughts and give them the time necessary to have a conversation. When you are consistent, confident, and respectful, people can tell, and you will attract your ideal clients.
3. Don’t psych yourself out.
Ever person on earth puts on their pants one leg at a time. Even if you have a “high profile” client, they’re still human with wants, needs, and problems that you are helping to solve. You don’t have to become someone different to make people care about what you’re doing. Instead, you should strive to be the best version of you and be consistent. The person you are before you make a sale should be the person you are after. The person you are when you meet someone should be the person you are when you follow up.
If you know that you should follow up, but keep putting it off, this could be an indication that you’re associating the process with emotions like fear, nervousness, or lack of self-confidence. This is normal, but don’t stay there.
So, if you find that you’re always “too busy” to follow up with people, stop and assess what else might be stopping you, and take the time to tackle that problem. If you’re “too busy” to follow up, you’re “too busy” to be successful, and that’s a real issue.
Following up with people is an important part of your business. If you’re not doing it, you’re going to fall behind. It’s easier and cheaper to keep the contacts and clients you have than to continue building new ones. You might as well do it and double or even triple your success in business.
To Your Success;
Lee A. Arnold
The Lee Arnold System of Real Estate Investing
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