Send This Email TODAY Do an Extra Deal This Month

Caveat… if you haven’t received any email leads in the last 12 months this post won’t help you… or maybe it will…

I want you to send an email that’s going to give you surprising returns but first… we need to talk.

Is your inbox a cemetery for cold dead leads?

Have you archived so many messages with inquiries on different deals and properties over the last year that you could fill a stadium if they were printed out? Well don’t print them to find out, but do this.

Gather up all the leads that you have hanging around.

You know the ones, the cards, the archived email messages, the LoopNet inquiries, and so on… How many of the leads that you got last year bought, sold, or invested in something? Do you have a guess?

25% of the Leads You Got Last Year Probably Did a Deal*

What percentage of your leads did YOU do a deal with last year? Was it 25%? I’d wager not.

Why?

It’s because in real estate we tend to neglect, or worse – abuse, our leads. It’s not your fault.

Why?

Because we’re busy, we’re so, so, so busy. There are only so many opportunities we can be working at any one time if we don’t have systems that are in place to follow up with our leads then our default is to just work on whatever the hottest most promising deal is at that very moment and “to hell with everything else“. Because we’ve got to keep making money. But it’s exactly this approach that can make for a nightmare of business ups and downs.

Isn’t that true?

According to our own recent research and a study of more than 350 real estate professionals only about 1.4% are using best practices for obtaining and following up with leads online.

How many leads do you think you got last year, all told?

  • Inquiries on opportunities
  • Referrals
  • Craigslist
  • Other ad responses…

Did you get 100 leads? That would be 2 leads per week.

How many leads per week on average did you get? 3? 5? 10? Its important that you answer this question because if you have no idea what your baseline is then improving will be nearly impossible.

If you got 2 per week, on average, fewer than 1 every other business day that would be roughly 100 leads in a year. So that means there were roughly 25 real deals in that lead flow. Maybe more.

Calculate this. Get out an excel sheet (or use Google Docs…) get out some paper, whatever…. and figure this out –  roughly – and be honest about it.

What is Your Lead to Close Ratio?

How many leads do you need to get in order to do a deal?

This is easy, take your newly calculated lead volume last year, take the number of deals that you did and do the math and express it in a percent.

DEALS/LEADS = CLOSE RATIO

How many deals could you have done if you had followed up properly, regularly? Double last year? Triple? I’d love to hear in the comments.

Once you figure this out you’re on the road to recovery and if you want to follow along, I’m providing tools and education all month to kickstart your year. I’m on a mission to help serious people DOUBLE their business in 2014.

Double my business? That sounds like a lot.

Well let’s look at the math. At the most basic level, if you could increase your lead volume by 40% this year and improve your follow up (conversion) by 40% you will double your revenue. It’s true. Do the math.

You Don’t Need a Landslide of New Leads to Double Your Business. You Just Need to Do a Little Better, Consistently.

You need a few more leads and you need to do a little bit better following up.  Could you increase your lead volume by 40%? In the example above that would mean going from 2 leads per week to 2.8 leads per week or going form 10 leads to 14.

Does that number sound overwhelming to you? I hope not.

Let’s talk about the conversion ratio. If you closed 5% of your leads last year then this year you would have to close about 7%.

We’re not talking about massive numbers, we’re talking about concentrated efforts on the critical points in your conversion funnel. More abotu how to automate this in upcoming posts, webinars, and videos.

Here’s a Quick Solution to Start to Recover Last Year’s Lost Leads

Start this year off on the right foot and put some systems in place to generate and follow up with leads in a very systematic predefined way. But first do this.

  1. Gather all the leads you have in all the nooks and crannies of your inbox
    1. desk
    2. iPhone
    3. briefcase
    4. car console
  2. Send them this email

“Hi {name}, Are you still looking for {asset type} in {location}?

And that’s it nothing more.

EXAMPLES:

  • Hi Bob, Are you still looking for apartment building in Baltimore?
  • Hi Joe, Are you still looking to invest in notes?
  • Hi Jill, Are you still looking for rehab properties in North Jersey?
  • Hi Ed, Are you still….

Get it?

  • Don’t get tricky don’t send them a flyer.
  • Don’t explain the virtues of working with you.
  • Don’t offer to add them to MLS.
  • Don’t send anything else but these words

Dean Jackson turned me onto this approach and I’ve now used it with over 5,000 emails in different campaigns and markets. I referred friends and business associates to this approach an we’re all seeing the same results. AT LEAST a 30% response rate. Does that mean that you et a 30% positive response rate. No. Some people are going to say they’re all set. Know what? Remove them from your list you don’t need them anymore.

We’ve actually seen much higher rates depending on the list. So, seriously, go do this. Go get all your leads together, and send this email.

Now don’t SPAM people. If they never inquired with you about anything then this email will not work and you’ll make people angry. But if anyone has ever inquired with you about any opportunity and you didn’t do a deal with them, maybe even if you did, send this email.

I’d love to hear about your results. Sign up over here to get free access to a 30 page no BS guide that I put together about automatic real estate lead generation and follow up. You can follow along over there as we launch a new product to help folks like you be more productive with less effort so that you make more money and have time to enjoy it.

Go do it now.

* According to Gleanster Research