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Qualifying Prospects

By
Services for Real Estate Pros with Simply Virtual

Is it possible to spend too much time following up with prospects? Sure, if they aren't properly qualified. Before you spend hours on conversation and follow-up, answer these questions:

1. Do they have a real need for an agent or broker?

Your prospective client should have a solid understanding of their needs and a clear set of objectives. These prospects are easily identified and quickly converted to clients.

2. Do they have the means to do business with you?

If your prospect can't afford your service or doesn't want to pay your fees, don't waste your time. Let them know you would love to talk with them more when they are serious about moving to the next level.

Your client development time should be spent on qualified prospects. Be pro active in either qualifying every new contact to avoid spending too much time on someone who won't give you business anyway.

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Nikita Devereaux is founder and CEO of Simply Virtual, a privately held firm providing virtual administrative, marketing and real estate assistance to companies across the U.S. She consults regularly with business professionals in variety of fields to help create reliable and innovative virtual support solutions for her clients. For more information visit http://www.simply-virtual.com/.

Justin Kaatz
ASAP Mortgage - Madison, WI
CMP
I would say definitely keep moving on to the next prospect and don't waste your time with un-qualified prospects but don't throw them to the side. Give regular follow-ups and let them know you haven't forgotten about them.
Apr 12, 2007 11:08 AM
Cynthia Sloop
Community Association Manager - Indianapolis, IN
Very important points!  It's very frustrating and draining to work with un-qualified prospects.  For most it only takes one or two and a newer agent wises up and learns to do things differently.
Apr 12, 2007 11:23 AM
Roger Stensland
Keller Williams Realty Puget Sound - Maple Valley, WA
Let's Move!
I agree with Cynthia.  The longer I am around, the easier it gets to actually ask the key qualifying questions.  What we were once afraid would drive away clients is now a tool in finding the keepers and weeding out the ones we don't want for what ever reason.  
Apr 12, 2007 12:29 PM