The phone rings, but you don’t answer it.
We get it. You’re busy.
Maybe you’re trying to have dinner with your family or you’re in the middle of closing another deal or… maybe you’ve just had a long day and you’re burnt out.
Unfortunately, not answering the phone (especially during business hours) can have a big, bad impact on your business.
We know because real estate investors hire us to take calls for them, which them to work on their businesses rather than in their businesses… typically resulting in more deals and more revenue.
Plus, our reps are specifically trained to speak with motivated sellers and they can even schedule a follow-up call with you or your acquisitions manager.
Why is that important?
Because if you don’t answer the phone when it rings, here are three things that happen… and none of them are good.
1. The Prospect Thinks Poorly Of Your Business
There’s no way around it.
If someone calls you during office hours — usually because you reached out to them with an advertisement or mailer — and you don’t answer… that puts a bad taste in their mouth.
And in one study, 67% of consumers mentioned bad service as a reason for leaving a business.
95% of people said they usually tell at least one friend about a bad experience with a company, while 54% said they share it with at least 5 other people.
People care that you care.
And answering the phone when the prospect calls is the least you can do.
2. The Prospect Calls Your Competitor
Unfortunately, the damage to your business doesn’t stop when the prospect hangs up.
While 70% of people say they’ll stop working with a business whose customer service is weak, 60% say that they’ll go on to do business with a rival company.
And nowhere is that more true than when we’re talking about motivated sellers who are desperate for a solution to their problem.
If you don’t answer the phone, then they’re likely going to do a quick Google search for other companies who can purchase their house and make some more phone calls.
Whoever answers the phone will get the lead.
Sadly, you paid for that lead.
It’s a shame to let it go to one of your competitors when all you have to do is answer the phone and schedule a follow-up call.
3. The Prospect Loses Interest
As you know, many of the deals you do don’t come from motivated sellers, but from people who gradually over time gain interest in your service and decide that working with you will be easier than selling on the MLS.
They call because they’re curious.
And you follow-up with them over and over again, until finally they are ready to accept your cash offer.
Ryan Dossey even claims that 90% of his real estate deals come from following up, not from the first or second call.
Here’s the problem: if you don’t answer the phone when this person calls, their curiosity is quickly going to fade and they’re going to lose interest.
That’s why so few people will answer the phone when you return a call — they’ve lost interest.
If you answer the phone, though, then these same people become leads and you can follow-up with them in the future, building relationships and securing deals.
But the first step is to answer the phone… and to answer it right away.