Follow Up is Your Key to Success As a Real Estate Entrepreneur
Follow Up is Your Key to Success As a Real Estate Entrepreneur
The process between the initial call from a seller to the point of final transaction can be compared to a job interview. And similar to job interviews, you can't afford to leave a bad impression. In order to be successful at "job interviews", following-up should become second nature.
When you receive an initial call from a seller, you should always ask basic questions that will help you understand the seller's reason for selling and level of motivation. A promising indication that you have a motivated seller is someone who is ready to sell their house just for what they owe. After gathering the necessary information, inform the seller that you will now begin research on the house and will call the seller back later that day or the next day. Always specify a date and time at which you will follow-up with the seller and verify with the seller that they will be available at the specified date and time.
Immediately following the call, send your business card to the seller along with a testimonial packet. Now, here comes the crucial point of establishing a good relationship with your seller: follow-up at the exact date and time previously stated - not a minute late. The key to following-up with the seller is to follow-up in a timely manner. This will leave a lasting positive impression on the seller.
On this second call with your seller, ask additional questions about the house - how does the seller's house compare to other houses you researched? After this call, inform the seller that you will finish up your research and run some numbers. Again, tell the seller that you will call them back later that day or the next day. The third time you call the seller, set up an appointment to see the house. Dress to impress. Although you have already made a first impression through phone calls, you want to make sure you live up to that impression in person. Also, be sure to bring your business card and a copy of your testimonial packet. Depending on how the visit goes, you can make an offer to buy there - face-to-face. If not, notify the seller that you need some additional time to finalize the offer. Schedule another appointment to with the seller again. A day or two before this final appointment, call to confirm your meeting with the seller. At this point, be sure to ask the seller if they have any additional questions and/or concerns. If at any point during this process the seller calls you with questions, comments and/or concerns, be prompt in your follow-up - always respond in a timely fashion.
Hopefully at the end of this process, you will be offered "the job". If so, it can be attributed to your follow-up and reliability - the ability to do what you say you are going to do.
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