Realtors are YOU Prospecting?
Agents, if you want to make it in real estate in this market or any market, you simply MUST be prospecting on a daily basis.
What is prospecting? It is picking up the phone to make a living.
To go a little deeper, Prospecting is reaching out to people to create a connection that could become a lead that in turn could become a sale. The sales funnel starts with prospecting touches. The better you get at prospecting, referral requests, and follow-up, the less people you will have to touch per sale. This is a simple concept. However, most agents and investors will whine about how low their sales are while they sit and wait for their phone to ring instead of finding the sales themselves.
Seriously, that small electronic device that you spend time facebooking and twittering on and that occasionally rings is your key to riches. You simply must pick it up and make CALLS, not just play. Those calls should be targeted to a clear prospecting objective, consistently and routinely done without excuses or procrastination, and packed with energy and commitment to the bigger number picture.
1. Make prospecting your daily ROUTINE. Schedule a time, or a time-block, each day that you will dedicate to prospecting. Don't allow anything to infringe upon that time. You may need to break the ice each day. But, after the first call it only gets easier. The more you call the more momentum and conversion percentage will increase.
2. Tailor your prospecting to your objective. If you are looking for cash-buyers, then call posts, sites, and connections that could refer what you are looking for. If you are looking for a property deal, call wholesalers and FSBO ads. If you are looking for short sale leads, create a networking tree by prospecting professionals that have distressed clients.
3. Be consistent. Consistent in your message, consistent in your image, consistent in your energy. Scripting may be the answer. Know what to say before you call. Scripts allow you to focus on your tone, the prospect's response, and stream-lined confidence in your message.
4. Don't Forget Your Objective. Always have a series of goals on each call and follow-through. If your first goal is to get an appointment, then aim for that and try to seal the deal with an assumptive close. If you cannot get a qualified appointment then you need to immediately jump to your next objective which at the least should be their contact information and motivation.
5. Ask for Referrals. On every call and in every email, don't hesitate to ask if they know anyone else that is looking to buy or sell a home. If you make this a part of your consistent routine, you will begin to see results from that process. Asking for referrals is a great way to build referrals.
6. Don't Be Discouraged...It's All About Numbers. Not everyone you call is going to say yes. Not everyone you call will have what you are looking for. But through a consistent daily routine you will develop leads and at the least referral connections. The treasure is in the trash, so to speak. You must sift to find it. When you do, you're rich. Sometimes trash becomes treasure too. Get everyone's contact information so you can follow-up. They may not have a referral for you today, but they may at a later date.
7. Always Follow-Up. If you go to the effort of calling people and you make a connection, STAY IN TOUCH. Through effective follow-up you create a relationship that increases your chances of converting that prospect to a lead, to a contract, to a sale. Using CRM database programs and automated drip email programs you can leverage your time. Just don't forget the power of an actual phone call or personally written email or mail.
If your goal this year is to change your life by changing your real estate business, your first MUST ACCOMPLISH TASK is to add prospecting to your daily routine. A real estate coach or mentor is your next MUST ACCOMPLISH TASK. Your coach will help hold you accountable and help you fine-tune prospecting into an efficient lead generation machine. Can we all do this together? I sure need to grow my business.
To your real estate success in 2011!
Charles Gardner, Realtor/Investor
Region Realty, Inc Greater Houston Homes
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