The Touch Stone: How Hunting "Hot" Leads Is Bad For Business

Reblogger Donna Stott
Education & Training with Your Coaching Matters

Great story and great thought.  You should read this one.

Coach Donna Stott

Original content by Clint Miller

Have you trained your brain to shoot yourself in the foot???

Let's start with a little story........

As a young boy, Tan had always heard of stories handed down by his father and his father's father of a magical rock that, when held by someone, would grant them any wish. It was called a 'touch stone'. (A person would know they found the touch stone because the stone would be smooth and round...like a ball...and warm to the touch.) And, as luck would have it, it was said to be along the shore of a small lake near the village that Tan grew up in...

After hearing these stories for his entire life, Tan decided he was going to make it his mission to find this magical 'touch stone'. So, he started walking around the lake. Every stone he saw, he would pick up, feel it for warmth and visually inspect it for shape. If the stone didn't adhere to the physical attributes that Tan wanted, he would pitch the stone into the lake so he didn't have to worry about having to check it again. Over time, Tan had convinced himself that he knew instantly if a stone he had grabbed was the mythical touch stone or not and would immediately hurl the stone into the lake.

Days; Weeks; Months went by and Tan had cleared thousands of stones from the shore of the lake....picking up each one and then pitching it into the lake.

Finally, one one cold morning, Tan grabbed a stone that was warm to the touch. And the stone was round like a ball. And, at that moment......Tan pitched it into the lake.

(Pause for reflection)

The moral of the story???  Treat every stone like it is a 'touch' stone.

Let me explain...

If Tan had gone about his quest with the idea that every stone that came across his hands was the touch stone, he would have known immediately that he had found the stone when he came across it. Instead, Tan had trained himself into thinking that every stone he found was not the one he wanted...and by pure instinct and practice, threw them all away...including the one he really wanted.

According to NAR, only 7% of ALL clients that indicate they want to buy a home actually are interested in buying right now....a "HOT" lead, in other words. (In case your math skills are lacking...that means that 93% of ALL clients are going to be buying or selling outside of 30 days!!) And, that is also true for internet leads. NAR also states that less than half of all internet leads are actually contacted by an agent.

Agents have to re-learn. Agents have to re-group. Agents have to retrain themselves.

Instead of viewing every internet lead like a rock...treat it like gold. Treat it like a touch stone. Treat every lead like it is the best lead you have ever had. Follow up with the client diligently, timely, and with respect. Give them the information they require when they require it and work hard to make yourself THE resource that the lead thinks of when they need something. Do this every time. Without fail. Every time.

Why would you do this, you ask? Why would you spend so much time working on something that might take months to get to a closing rather than looking for something that will close in a shorter amount of time??

Well...aside from just being good business, the main reason is to train yourself...to train your mental and physical reactions so that, when you do grab that ball-shaped stone that is warm to the touch, you don't automatically toss it into the lake because that is all you know to do with it...because that is all you have practiced. It is all you know.

Make sense yet???

 

If you would like more information on how RECR can help you find that touch stone, please contact Clint at 800-977-7058. Or, fan us on Facebook. And, if you are on Twitter, you can connect with Clint there also.

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Rainmaker
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Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Thank you for the reblog! Much appreciated!

Jun 23, 2010 04:05 AM #1
Rainer
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Donna Stott
Your Coaching Matters - Marietta, GA
Passionate Teacher / Lifelong Learner

Great one Clint, thanks. I'm in the midst of your signing up for referrals right now. Had to stop to do a couple of coaching calls though. Wish I could get some areas closer to me but they seem all taken... still haven't gotten to the "catch" yet on what it will cost me! :)

Jun 23, 2010 04:13 AM #2
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Rainer
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Donna Stott

Passionate Teacher / Lifelong Learner
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