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What business are you in?

By
Education & Training with Bill Fields Learning Systems

Why is it that some people seem to feel that “prospecting” is a dirty word?

I define “prospecting” as necessary work that allows us to find the people who have a need to buy or sell real estate. Isn't that our business? Finding people with a need and satisfying that need?

A problem occurs when people think of prospecting as painful or uncomfortable. Does prospecting necessarily have to be painful? No, of course not. In fact, a major key to success in real estate is to learn to enjoy prospecting activities AND to enjoy working hard at it.

Why is prospecting so important? Because challenging yourself to find people who have a need, pays off. It’s the work that agents of lesser character will avoid. And if you infer that I’m saying people who avoid prospecting have a character flaw, you’re right… and a serious one at that. If you avoid prospecting, you avoid doing what it takes to succeed.

To keep your muscles strong or your mind sharp, you need to challenge them. To do only what’s easy will lead to physical and mental flabbiness and very mediocre results, followed by a great deal of time and effort spent justifying why such flabbiness is OK, instead of stepping up and taking on some real challenges.

Tackling challenges like prospecting builds character, just as lifting weights builds muscle. To avoid challenge is to abandon one’s character development.

Now it’s natural that we’ll tend to avoid what’s painful, so if we see prospecting as purely painful, we’ll surely avoid it. But in so doing, we’re avoiding some very important business building opportunities. So we must learn to fall in love with challenge of prospecting instead of fearing it, just as a bodybuilder can learn to love the pain of doing “one more rep” that tears down muscle fibers, allowing them to grow stronger. If you avoid the pain, you miss out on the growth. This is true both for building muscles and for building your business.

When faced with the prospect of saying to yourself, “If I always avoid prospecting, I’ll never in my life get to experience X, Y, or Z,” it’s a little easier to embrace the benefits of prospecting. What will you miss out on? You’ll probably never reach your true potential, live your biggest dreams, or make a real difference in the real estate business, etc. You’ll have to settle for only what going with the flow can provide, which is mediocrity.

If you want to achieve some really big and interesting goals, you have to learn to fall in love with prospecting. Prospecting makes the difference. It’s what separates the bottom 83% from the top 17%. You can keep desperately hoping that the business will always be easy, but then you’ll be stuck in a make believe world, waiting for opportunities to come to you instead of creating your own, and doing busy work that in the grand scheme can’t get you to the level of success and happiness you deserve.

All Star Coaching thought for today: The harder you work the luckier you get.

Have a productive day.

BF

Charlie Dresen
The Group, Inc - Steamboat Springs, CO
Steamboat Springs, CO e-Pro

Taking action can get you over the prospecting hurdle. I was told once that you can beat anything into submission, so if you dread/hate prospecting, devote yourself to one full week of consistent/dedicated prospecting and by the end of the week it probably won't seem so daunting any more. Action changes things...perspectives and outcomes. You're right, if you don't prospect and continually keep your pipeline full, you're going to have a lot of spare time to continue convincing yourself of your lack of prospecting skills.

Apr 09, 2012 10:15 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

As much business as one may have and I am certainly very fortunate, I never stop prospecting. My wife once asked me, if I will ever stop, I said no, when I am not longer here, I will have plenty of time to rest.

Great post, thank you for sharing it with all of us.

Apr 09, 2012 10:19 PM
Bill Fields
Bill Fields Learning Systems - Treasure Island, FL

Charlie, I agree with you 100%. I have a saying I use with all my agents, "Take immediate action" because I know if they spend too much time thinking about things nothing will get done. Focusing on commiting to action for one full week is a great strategy, I hope other agents willread it and embrace it. Thanks for your comments. 

Apr 09, 2012 10:21 PM
Bill Fields
Bill Fields Learning Systems - Treasure Island, FL

Joe, that's why you're fortunate, because you understand the importance of prospecting to a successful business. I agree with you too, there will be plenty of time to rest later why waste time now! Thanks for your comments, always appreciated.

Apr 09, 2012 10:23 PM
Mark Loewenberg
KW of the Palm Beaches - Palm Beach Gardens, FL
KW 561-214-0370

people business.. always tell my prospects/future clients that I am with them for the long haul, be it this week this month or next year as long as they work with me i will work with them... they always appreciate this as no pressure approach.. especially as this is their money!

Apr 09, 2012 11:01 PM
Bill Fields
Bill Fields Learning Systems - Treasure Island, FL

Yes we are in the "people" business, but that's only half of the answer! The other half is "finding"! We are in the people finding business. Finding people with a need and servicing the need they have. Too many agents think it's just servicing the need and don't spend time finding the need. Thanks Mark.

Apr 09, 2012 11:08 PM
Doug Rogers
RE/MAX Coastal Properties - Destin, FL
Your Real Estate Resource!

The saddest part about any closing is the realization that you are now short one client. You are never more than 45 days from broke in this business.

Apr 09, 2012 11:23 PM
Bill Fields
Bill Fields Learning Systems - Treasure Island, FL

The classic good news bad news situation! Thanks Doug.

Apr 10, 2012 01:56 AM
Kevin A. Guttman-Author, ReverseMortgageSpecialist
NMLS #384936 - Colorado Springs, CO
877-251-9709

Prospecting leads to deals. Deals lead to closings. Closings are how we get ... PAID!

Thanks Bill!

Kevin

Apr 10, 2012 03:50 AM
Bill Fields
Bill Fields Learning Systems - Treasure Island, FL

Kevin I couldn't have said it better myself! Thanks.

Apr 10, 2012 04:40 AM