Kevin Ray Ward says agents shouldn't drop leads who listed with competitors. About 80-89% of sellers claim they'll use the same agent again, but only 11-13% actually do. Since 15-25% of deals fall through, staying in touch with past prospects pays off.
Chapters
So what do you do with that lead that you've been talking to? Following up. And they listed with somebody else. That's a great question. One our coaching members, and they had somebody they've been following up on, the property was listed, it was just about to expire, and then went under contract. And here's the answer. You always keep them in your personal circle, keep them in your A team for now because several reasons. Number one, the deal could fall through and everything could blow up. And they're now looking for another agent. Now what are the odds of that happening? I don't know. 15, 20, 25%. Most agents are incompetent. Their experience is probably not going to be great. And even if they do get it closed, continue to talk to them. Because in a year or two or three, when they get ready to sell again or they know somebody looking to sell again, their previous agent, 90% chance, has not ever talked to him after closing. When NAR does their survey of buyers and sellers, they ask them, will you use the agent, your same agent again next time you move? And they typically, it's in the 80 percentile. 80, 85, 89% say, yeah, we'll use our same agent again. And the reality is only 11 to 13% actually use their same agent again. Okay, over three quarter of them say, three quarters of them say, yes, we're going to use our same agent. But less than 15% actually use their agent again. Why? The agent disappears. All you got to do is be the one who maintains a relationship and you over time become their new agent. Even though they never did, never done a deal with you. So never give up on a relationship. Because the game is a game of who stays the course. It's a game of consistency, it's a game of attrition. Because most agents, whoa, they're falling out. So guess what? Those who are still standing are going to have a lot of open market share. Make sure you keep those relationships that you got.
