*The value of follow-up and keeping your word

One of KJF Partners’ Core Values is:

“We are driven by our personal commitment to create value for our investors, tenants, teammates and brokers.”

To serve our broker partners, we send occasional emails that focus on things that I have learned through my brokerage history or that I notice from my current role on the principal side of the business.

Brokerage is a very challenging business follow-up, and keeping your word, are great investments in your client relationships and future business success. We live in a fast-paced world, and frequently, my experience with some brokers leaves me feeling that actions that don’t result in immediate business, may not be perceived as “important.” I was pleasantly surprised recently when a broker that I’ve worked with in the past reached out to tell me that he had followed up on an offer we had made several months prior. He continued to monitor the property and learned it was still available, but seller expectations were unchanged.  He let me know that he would continue to follow the property and would call when it was beneficial to make another offer. Based on his past diligent follow-up, I knew I could trust he would do so.

Unfortunately, it’s rare that I experience aggressive, unsolicited, follow-up. I do get brokers following up to get listings or offers executed but, seldom do I experience follow-up that is designed to give me information for something that I am interested in. As a principal, I appreciate follow-up that is specifically targeted to serve my needs or gives me information on a topic or deal that is interesting to me.

Below are a couple of follow-up scenarios with my suggestions about how you can provide excellent follow-up to your clients and prospects:

Follow-up on near-term business opportunities:

This type of follow-up includes: follow-up to get a listing or offer signed, follow-up to get a commitment for a BOV etc. This follow-up can lead to immediate business for you, and it’s clear to the prospect that you’d like them to take an action so you can proceed with that opportunity.

In these situations, follow-up that will be productive is to set an appointment with specific defined actions to be completed. Send a meeting reminder after you obtain that appointment and send a reminder the day before the appointment. When follow-up is done this way, everyone involved knows what’s expected, and when it’s expected.

If the above is not successful and you find yourself in a follow-up loop, I suggest calling with “value-add” items which may be unrelated to the deal, rather than calling just to see if the client has reviewed the agreement or signed the listing.  Share useful information each time you call, and your prospects will want to talk to you. During the conversation make a shift and provide real, valuable reasons for them to act on your outstanding business. One current example could be:

“ICSC is coming up and there will be a lot of buyers and brokers congregating in Las Vegas that, if I have your property listed and properly packaged, I can meet with personally to sell them on the opportunity. In my experience this will yield a great price for you and will allow me to handle potential objections as they come up.”

 Approach with a valuable topic, and within the conversation give your client/prospect concrete reasons to take action that they will see as a benefit.

Relationship follow-up:

This type of follow-up is designed to “build” a relationship or to “build on” a relationship that already exists. Unless we have a solid historical relationship, I strongly discourage the “calling to check-in” calls. Rather, I suggest you find a “value-add” reason for your calls. Call your client/prospect with something that will be interesting or useful for them. During these conversations listen for issues or opportunities for you to be helpful. Use this information to create your next reason to call. For instance, during recent a broker conversation, I mentioned that I was having a contractor issue in an area. The broker offered to call a few clients that do business in that area, and he obtained some vetted referrals from people that had used the contractors. I assure you this was appreciated, and his follow-up left a lasting impression.

Lastly, the foundation of great relationships is trust. If you tell me that you are going to do something…..anything; do it on time and with excellence.  As you do this, you can be certain your client relationships will have positive, forward momentum.

Happy Hunting!

Joe

Joe Faris

KJF Partners, Inc.

Cell Phone: 949-275-5038

Email: jfaris@kjfpartners.com

Website: www.kjfpartners.com

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