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Do You Continue to Prospect Even When Busy?

By
Real Estate Agent with Donovan Blatt Realty 01267479

Do You Continue to Prospect Even When Busy?

 

 

You probably know that most real estate agents have cyclical income.  Perhaps this is because it is a cyclical industry with more sales in the spring and summer months than in the fall and winter.  Or, perhaps it's because so many of us stop prospecting when we are busy with clients.

 

If you have a few homes in escrow, a couple active buyers and a few listings to handle, it can be really easy to skip prospecting.  This is especially easy if calling past clients or expireds or prospecting in general isn't your favorite activity to begin with in the first place.

 

All over the map

 

The problem is that when you take that road, your business probably looks like the image above with way too many highs and lows.

 

The best way to avoid this? 

 

Set aside an hour a day and prospect.  Call past clients, call expireds, call FSBOs, call old leads that didn't become clients or go to Starbucks and start conversations with 5 people about real estate.  It doesn't matter what your preferred method for prospecting is, JUST DO IT!

Some may think that this means you have to call and harrass people. To me, it can be as simple as calling a past client to see how they are doing (I'm lucky that I like my clients) and reminding them that you are happy to help their family and friends too, or calling someone who was thinking about buying a home some time ago and decided not to and seeing if now is the right time for them

Why do I feel so strongly about this?

 

Because I've been there, done that, and am tired of it and am working hard not to fall into the trap again.

 

How about it?  How are you doing this, and what do you do to stay on track?

 

 

Posted by

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About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.

Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? For more information see Options to Foreclosures, understanding short sales or contact me at christine@donovanblatt.com to discuss your options.

If you want to buy a home or to list your property for sale, please click Newport Beach homes, Costa Mesa homes, Huntington Beach homes or Orange County homes.  Click the link if you are interested in buying a home at a courthouse auction sale.

Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.

Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.

Click Orange County homes for sale to view all OC homes for sale.

Comments(101)

Tim Bradley
Contour Investment Properties - Jackson Hole, WY
Commercial Real Estate Expert in Jackson Hole, WY

Gotta do it! If you don't keep refilling the pipeline, the water will stop coming out the other end...

May 25, 2011 06:04 AM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Praful - I love this story.  It's exactly the way it's supposed to be.

Susan - I think that's the reality for many of us, and that's the whole reason I wrote this.

Marc - This is so true.

Loreena - This is an important thing to remember and a good reason to do something every day.

Carla  - It is a good thing to be busy, but it's a problem later.

Ruthmarie - I thinking "pushing" yourself is not a good thing, but I think there are ways to do it correctly.

Anna - That's a great way to handle it.

May 25, 2011 06:16 AM
Patricia Beck
RE/MAX Properties, Inc., ABR, GRI, SRES - Colorado Springs, CO
Colorado Springs Realty

It can be difficult to manage so many different areas of real estate but prospecting is necessary and takes discipline.  Thanks for the reminder!

May 25, 2011 07:15 AM
Georgia Perez
Windermere Real Estate / WSI - Seattle, WA
Broker, ABR, CNE, Seattle, WA 206-356-9872

Great reminder Christine!

May 25, 2011 08:03 AM
Rich Gaasenbeek
IXACT Contact Real Estate CRM - Toronto, ON
Real Estate CRM & Marketing Made Easy!

Hi Christine,

Great post!  As you say, there are as many unique ways to prospect as there are unique Realtors.  The key to is define your plan and to make it happen.  A good contact management system can help you be a more effective prospector in a couple of different ways:

  1. It will remind you what you need to do and when.
  2. It can automate some of your keep-in-touch communications so that you're still in front of people even when you can't be physically.
  3. By keeping track of personal info and past conversations, your CRM can help you feel more comfortable picking up the phone because you have something to talk about.
Rich Gaasenbeek, IXACT Contact, The Easy Way To Manage Your Contacts

p.s. Guess what's the #1 reason agents don't call their past clients?  Not enough time?  Nope.  It's FEAR of not knowing what to talk about!  Effective contact management eliminates the fear...

May 25, 2011 11:23 AM
Ray Waisler
Finance of America - Atlanta, GA
NMLS #6621 - Specializing in Jumbo FHA & VA

Christine, successful people always prospect, that's what makes them successful. Good post.

May 25, 2011 11:26 AM
Elizabeth Y. Foulds
Long & Foster Real Estate - Saint Michaels, MD
Your St Michaels Realtor

Christine.  Great post.  It is a busy time but always find time to prospect.  I am a very social person so do my prospecting at lunch or at clubs.   One has to be out there all the time meeting people, that is why I work from the office and not from home. 

May 25, 2011 01:13 PM
Kathryn Acciari
Central One Federal Credit Union - Shrewsbury, MA
Mortgage Loan Originator

Great post!  May I share with you the fact that prospecting is my favorite part of this business?  I'm an opener and love opening new client relationships. 

May 25, 2011 01:43 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

I did it when I was an agent. Knowing about those peaks and valleys is why I wrote my prospecting letter sets - and why I encourage agents to use them (or the letters they write themselves) in an automated email drip system.

Consistent prospecting / staying in touch is a way to avoid those weeks of "unemployment" that happen when you've been too busy to prospect "one consumer at a time."

May 25, 2011 02:53 PM
Gene Riemenschneider
Home Point Real Estate - Brentwood, CA
Turning Houses into Homes

I need to get better with this and get off the roller coaster.  Thanks for a good post.

May 26, 2011 07:28 AM
Robert Courtney
Lihue, HI
Century 21 All Islands, RA, CDPE, MCRE, CIAS

Business Plan should lay out the marketing plan and the numbers that support your expected income.  I check the BP and my numbers.  If that does not get me going I am in the wrong business.

May 26, 2011 08:25 PM
Ellen Wright Adams
Academy Mortgage.......We are a Equal Housing Lender - Eugene, OR
LoansByEllen- Licensed in Oregon

Christine:  This is an excellent topic.  It's easy to get 'side tracked' when things are busy.  THANKS for the reminder, and love the graphic!

May 28, 2011 04:05 PM
Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

When I do NOT prospect when I am busy, then a few days/weeks later I am struggling for business..  So YES, I do every day!

May 28, 2011 06:13 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Kirsten - Blogging is a great way to prospect though I think getting in front of people is very effective.

Sharon - It is important, one has to wonder why it's so hard.

Sandi - Reminder, nag - either way, as long as it helps.

Todd - Referring out business is a great game plan as far as I'm concerned.  Nobody in the pipeline is not a good thing.

Jeffrey  - I'm with you and Todd both on avoiding the empty pipeline.  It doesn't matter how we do it as long as it's consistent.

Steven - You're welcome.

Anne - Consistency is hard. You're welcome for the reminder.  I need it myself sometimes.

Cheryl -I  like it to be more,but one hour feels doable.

Barbara - It's so important to do every day and so easy to skip it when busy.

Doug - It should be an ingrained habit.  The problem is many people don't enjoy it and would rather skip it when busy.

Scott -  Having an admin can make a huge difference in giving you back more time.

Renee -  I like the new photo.

Even frazzled, you do a great job keeping up with everything.

 

May 28, 2011 07:14 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Gita - I agree completely.

Chuck - It's good that you have a good flow of business.  I just find that not prospecting effects business.

Mike - Thank you so much.

Kathleen - I do my best to make a propsecting appointment just like any other.

Susan - You're welcome.

Pat and Wayne -  I'm glad to hear that you're super busy regardless and am familiar with how the time can fly by.

Scott - Words to live by.

Diane - That's so true.

Michael - I'm pretty sure we do too.

Stephen - Call it whatver works for you.  Getting "it" done is what's important.

Bob - I think most of us do; it just seems to be hard to remember the downs when we're up.

 

May 28, 2011 07:19 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

J. Philip - It sounds like you have a plan or at least a mantra ; )

Virginia -  There are many ways to do it.  It's just a choice of which one(s) to do.

Richie - Staying visible does it in this business. Outgoing works for me too.

Pamela - Prospecting leads to closing, so it makes sense.

Andrew - A great way to put an extra hour to work.

Andrew - It is way too easy to do.

Will -  It looks like a lot of people feel the same way I do.

May 28, 2011 07:28 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Georgia - You're welcome.

Jim - Starbucks is a great place to talk real estate.

Justin - Three hours is a great goal.

Karen - Keeping the pipeline full is important, and yet harder than it sounds.

Melba - That's exactly the problem.

Dave - You're not the first person to suggest an admin.  It makes a lot of sense.

Candice - So true.

Adam - No, but it's easy not to do so.

Gene - Maybe your wife has a point ; )

I hope you took the time to reach out to some people.

Hella  - It is easier to get new business while you have it, kind of like a new job.

 

May 28, 2011 07:36 PM
Jill Klunk
Dockside Realty Company - Conway, SC

I've been in this business a short seven years. Some call me a rookie and others a seasoned agent. No matter what you want to call me I have learned a key lesson -- You MUST prospect every day in order to survive! Thanks for sharing your thoughts on this topic.

May 29, 2011 08:16 AM
Bill Reddington
Re/max By The Sea - Destin, FL
Destin Florida Real Estate

Prospecting is a necessity. I have tried to automate as much as possible but it still takes time. Have Top Producer so I am a big advocate of select all and send. Takes the guess work out...

May 30, 2011 04:59 AM
Matt Robinson
Professional Investors Guild - Pensacola, FL
www.professionalinvestorsguild.com

So very true Christine.  It is imperative that we continue to prospect every day to maintain a healthy business.  However, I must say that it's not a panacea to the "feast or famine" real estate income roller coaster.  It's still a strange business, and even though I consistently prospect, I will oftentimes have 0 closings one month and 10 the next.  For the same reason that I will sometimes sell 2 houses on the same street within a week of each other, though I've never sold in a house in that neighborhood before, and the same reason why I will be showing houses on Monday to Joan McDonald, Tuesday to Jim McDavis, and Wednesday to John McNerny....all J Mcsomething...

When you've been doing this business long enough, you will see just about everything...except a consistent income.  So, I pay myself the same amount each month from my reserves....regardless of how much I make, and the account grows in the good months and shrinks a little in the slow ones.  It's the only way to keep from going crazy in a business that is consistently inconsistent.

Dec 06, 2011 05:34 AM