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One thing that we have continually preached at RECR is lead follow-up.

Speed. Timing. Quality. It is all part of the same deal.  And, it is quite possibly one of the most important aspects of a real estate agent’s job.

And, I’m not the only one that thinks this….Dirk Zeller of Real Estate Champions agrees with me…

LEAD CONVERSION AND FOLLOW-UP by Dirk Zeller

The first step to higher lead conversion is developing a better definition of what a lead is.  What’s the criterion of a lead for you?  Is it a specific time frame or level of motivation?  Is this a subjective or a pre-determined scale you use?  For most Agents, a lead is defined as any human being who can fog a mirror when held up to their mouth.  It’s basically anybody and everybody.  That definition is much too broad for us to ever reach the Champion Agent level.

Too many of us are investing our time and money trying to convince any and every lead to turn into a good lead.  We, in effect, say, “Oh, please, Mister lead, if I work with you long enough, won’t you turn into a good lead; because I really don’t want to have to prospect, and I need to make my mortgage payment next month.”  Are you trying to turn bad leads into good leads, or are you looking for good leads?  It’s almost as if we are trying to water dead plants in hopes of resurrecting them from the dead.  They are dead . . . move on!  What is the quality of your leads right now?  What would someone pay you to buy your leads?  If the answer is not much . . . Houston, we have a problem.

Champion Rule: The leads you have in your database are in other Agents’ databases as well.  Whoever calls them and meets with them first wins the game.

This, my friends, is the truth of our business.  For some reason, many Agents haven’t come to grips with this concept.  We think somehow we are the only Agent who knows about this prospect’s desire to buy or sell.  This is particularly true of Agents who work exclusively by referral.  You are making a huge mistake in today’s competitive market if you feel that you have the inside track or non-competition track.  Couldn’t another friend have referred them to someone else?  Isn’t it possible that they searched the Internet a little and got information from other Agents?  Could they have been out to an open house?  When a lead appears, we need to take action toward a face-to-face appointment immediately.

Effective lead follow-up is like threshing wheat at harvest in ancient times.  Threshing is, essentially, separating the wheat from the chaff.  The good kernels of wheat would be removed and used for food, while the chaff would be blown away in the wind.  If we aren’t actively threshing our leads, we will become complacent.  Too many leads can cause lead complacency.  Too many leads can be a bad thing.  You did read that right.  Too many leads can be bad!

An overabundance of leads can lead to complacency in your prospecting.  You can stop or slow the flow of new leads by reducing your prospecting because you feel comfortable because you have a certain number of leads (50, 100, 1000, or whatever the number may be).  You may feel that you don’t need to prospect today because you have enough.  What if what you have left has a high percentage of chaff in it that you haven’t found out yet?  It’s going to take a lot of effort to find that out.

When I started working with a particular client a few years ago, I asked him how many leads he had who wanted to buy and sell in the next six months.  He said he had 247 that fit into that category.  He was proud of himself, yet I found out he had not talked with them in a while, and he hadn’t been prospecting because of this volume of leads.  His attitude was “I don’t need to; I have 247 leads”.  I asked him to call all 247 in the next two weeks and ask for an appointment.  If they were not ready to list or buy, he was to set an appointment with them anyway to move the relationship along, so he could secure them as future clients.  Two weeks later, the first thing out of his mouth before hello was, “I have fifty-nine leads.”  He dumped over 182 leads that were junk.  He realized he needed to prospect to create new leads every day.

Dirk Zeller is a sought out speaker, celebrated author and CEO of Real Estate Champions.
His company trains more than 350,000 Agents worldwide each year through live events,
online training, self-study programs, and newsletters.  The Real Estate community has
embraced and praised his six best-selling books;  Your First Year in Real Estate,
Success as a Real Estate Agent for Dummies®, The Champion Real Estate Agent,
The Champion Real Estate Team, Telephone Sales for Dummies®,
Successful Time Management for Dummies®, and over 300 articles in print.

To learn more, please visit: http://realestatechampions.com/closingthesale/

Real Estate Client Referrals Uses Social Media, Too!

RECR has always tried to stay on the cutting edge of lead generation. And, one avenue that has come about recently is the advent of social media and the power that it can give real estate agents in lead generation. It only makes sense that we have a presence there considering how many are tapping into that power.

And, the fascinating thing about it is the reasoning behind why it is so popular. This is one of the best examples I have ever found as to why social media exists, why it works, and why so many are turning towards it to help build their businesses!!

Into social media? Follow Clint on Twitter…and fan us on Facebook! You can also subscribe to our channels on YouTube and Slideshare.

The road to buying a foreclosure is loaded with potholes and potential pitfalls.

Sure, buying a foreclosure can be a very wise investment indeed. But, it can also be a one way ticket to a money-pit. Knowing what to look for from the very start can save you thousands of dollars in the long run.

Interested in learning more? Contact Clint at 800-977-7058 or follow him on Twitter. Be sure to fan us on Facebook!

Let’s face facts…buying a foreclosure isnt exactly a simply process. In fact, some would say the entire process sucks.

But, it can actually be even worse than you thought originally for your client without recognizing these 10 simple red flags. Knowing what to look for can save your clients thousands of dollars in the long run…

1. Air Quality: The air quality inside will tell you a lot about the over-all condition of the home. Musty or dirty smells can mean mold and mildew has developed. Perhaps a water leak…perhaps a leaky roof. Make sure you include air and surface testing in your home inspection. Yes, it costs money. But, that is a few hundred dollars well spent.

2. Peeling, bubbling or discolored paint: 9 times out of 10 this is caused by moisture…moisture that can cause mold. Swelling in walls or ceilings or a musty odor immediately point to water damage. Make sure you check the major surfaces in all areas around the kitchen and bathroom and UNDER these same rooms as well.

3. Missing sinks or other fixtures: We have all seen the news stories of disgruntled home owners that have been foreclosed on tearing out kitchen cabinets, toilets, sinks, etc. Make sure that, if the home you are looking to buy is missing these things, that they were removed properly and not simply torn from the wall or floor. That is the difference between replacing a toilet and replacing a wall, a floor, some plumbing, and a toilet.

4. Unheated during the winter: If the home was winterized properly, you have nothing to worry about. But, if not…there is plenty to worry about. Without it, water in pipes can freeze cracking seals, cracking pipes (both inbound and outbound) and potentially causing major water damage. Check all water lines leading to and from water heaters and all fixtures and the drain lines leading to the main sewer line until it leaves the structure.

5. Fungus growth: Fungus requires water to grow. If you find mold, there was or is water there. However, water flows downhill. So, look for the source of the water above where you find the mold.

6. Blocked drains: Blocked pipes will cause any number of potential issues including a sewage backup. Make sure all of your drains work properly and toilets flush with no issues.

7. Older homes with lots of renovations: Check with the city. Hopefully, these major renovations are tracible by being able to pull permits for the work that was done. Many older homes had asbestos (either in the insulation or in the tiles used). Make sure that any disturbance to this type of material was handled by trained professionals and that they potential risk is eliminated.

8. Excessive painting: Any “fresh” paint is subject to inspection. Especially if they felt the need to paint the molding, doors, even the wood floors. This is one of the main ways that people try to cover up the existence of mold. Out of sight, out of mind, right?

9. Discolored subflooring: When you are inspecting the basement, make sure you look up. Check out the subfloor above your head. Make sure you look for any evidence of discoloration or darkening stain residue. Also, look for holes in the subflooring that moisture could gather and create potential hazards later. Inspect those well to ensure they are dry and dont contain mold already.

10. Dingy walls or black cobwebs: If the walls have a dingy grey film on them or the light fixtures have a thin black cobweb-type appearance, you may be dealing with soot damage. Soot damage would be from several potential sources: a previous fire; a plugged chimeny associated with a wood stove; maybe even a malfunctioning furnace. Have your chimneys professionally cleaned and make sure that the furnace is tested by people that know what they are doing.

Yeah, you can get a great deal on a foreclosed home. But, knowing what to look for when in the buying process is the difference between getting a great deal…and buying a money pit.

If you would like information about Real Estate Client Referrals, please contact Clint at 800-977-7058. Also, become a fan of RECR on Facebook. And, if you are on Twitter, follow Clint!