How to follow up with buyers to sell more real estate

The hardest thing we do is get the buyer’s attention in the first place. The average buyer is bombarded with messages from fsbo, inmate agents and investors. Once you’ve made the sale, you may temporarily have buyers’ attention, but if you don’t keep in touch, the buyer could quickly forget about you. Most real estate investors think their job is done once the sale is closed. However, it costs six times more to get a new buyer than it does to sell additional properties to a current buyer. If you really want to sell more real estate, you need to have highly effective tracking and follow-up.

1. The first follow-up arrives 48 hours after closing. When was the last time a company sent you a thank you note 48 hours after a sale?
2. Another follow-up is carried out 30 days after closing. The purpose of this follow-up is to answer any potential questions and solidify the relationship.
3. After 90 days a follow-up is sent along with another property that the buyer may be interested in.
4. After 6-9 months, a follow-up is sent with an article that can help your business. This could be a news article or success story being shared. This is also a good time to ask for the names of 3 people who might be interested in your product or service.
5. After 1 year, a card is sent celebrating the first anniversary of the closure.

Let me put all of this in dollar terms for you. Assume that each sale results in a profit of $5,000 for you. So a deal is worth $5,000. Now, let’s say you follow up with the buyer and this results in the client purchasing another property within the same year. That same customer refers his business to 5 other people. Now, instead of having a single, short-term relationship, he has a bond that could last 10 to 20 years. Due to tracking, that buyer could now be worth $1,000,000 to you.