Is Follow Up a Lost Art? Survey says…

Oct 22, 2009 | By Mike Lyon

Is follow-up a lost art? Can you guarantee your agents are responding and following up with your prospects, the ones you paid $1,000’s to get to walk into the door? In this short video I review a study conducted on this topic (details below) You be the judge. If you are wondering what is going on with your internet leads, it’s time to secret shop your agents. Submit a lead from your website and listing services, not once but several times. Track the response time, quality of the message and how many times they follow up. You will be surprised.

Take a look at this at this whitepaper released by Red Tree Resultants and Qgenisys. They conducted actual on-site evaluations acting as motivated prospects to learn if there would be adequate follow up on the visit to try to persuade the prospect to become a purchaser and what builders and developers can do to improve their market share. What they found out:

  • Despite spending millions of dollars to attract them…In only 36% of the visits did an agent bother to follow up with the prospectwho visited the community and expressed immediate purchase interest.
  • In only 14% of the casesdid agentsfollow up with personalized information about the community that reflected anything they discussed with the prospect.
  • Builder agents from the higher-priced homes/communities actually followed the prospect more aggressively than did the lower-priced homes/communities.
  • Of all homes visited during our research, unless a prospect followed up with the builder, nearly 60% of all prospective sales would have been lost due to lack of followup by the builder or the builder’s representative
  • We estimate that up to 75% of builders’ emails, both from sales reps and marketing teams were caught by our researchers’ spam filters.

Their findings clearly show that after spending all those marketing dollars to get potential buyers into their homes, motivated buyers were largely ignored and received almost no relevant follow up from the builder’s site agent. On-site builder agents allowed prospects to walk out the door, but also allowed them to slip through their fingers with little relevant follow up…or in many cases ANY follow up after the visit.

The Conclusion – Builders who implement the changes we have recommended here will be better positioned than those that do not to take advantage of the inevitable turn around that will eventually come in the housing market.

Thanks to Brendan and his team for the timely and powerful info.

Download the White Paper >>

Red Tree Marketing Resultants

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