In Marilyn Jennings' book Bulls-Eye Negotiating; the highly successful Realtor and motivational speaker/author explains her success in picking up new referrals immediately after getting the listing agreement signed. According to Marilyn, this is a golden opportunity for some win-win prospecting. She claims that most realtors do not take advantage of this time that could get them a few hundred to a few thousand prime quality prospects to work with at all times depending on the number of listings they carry!
If this is done, there will be no need to expend the huge amounts of time, energy and money that many do, on such low return activities as direct mailings and telemarketing to the masses out there, with which they have nothing in common!
Here's how she does it:
Immediately after the listing agreement is signed by the Seller, one of the last things Marilyn does is a little prospecting by asking if they know anyone that she should talk to that might be looking to buy or sell a home. Then she spends a little time training the sellers to sell her! She tells them about her goals and that she would really appreciate their help. Then she gives them some business cards and personal brochures to pass out to their friends, relatives or acquaintances that may need her services in the future.
Then she gives them some Seller's Homework. (post a comment if you want this emailed to you). The first two pages will save you time preparing the feature sheets or brochures that you can use to promote the property and get the seller involved by giving you valuable information that you would not know. Starting with the third page is the key! It is a simple form titled "Sellers' Friends and Acquaintances" that is divided into three columns for their names, address and phone numbers. She tells them that she needs a minimum of 50 friends and acquaintances.
What's in it for them?
Before people give you this kind of information, there has to be something in it for them so Marilyn tells them what she is going to do with the list. She gets very excited when telling them to get them excited too. Marilyn then explains that she is going to send a letter to everyone on the list, telling them that she has their home listed for sale, and asking each of them if they know of anyone looking for a home who might be interested in buying it to help her client sell it quickly! Since there is a connection, they are more likely to respond.
Marilyn points out that all of those people know a whole different circle of friends and acquaintances, any of whom might know someone who'd be interested in their home. Then she shows them a copy of the letter that she will be sending out and emphasizes strongly that this is a superb marketing tool, and that often this is how she finds buyers for her listings.
She emphasizes that they can draw from relatives, friends; social and religious, business, educational and recreational acquaintances. Many will give you many more than 50! As much as 150! Why not challenge them to get creative and beat your previous record!!
One client made a copy of her church directory and gave it to her!
When sending the letters, add some business cards, notepads, etc. to market yourself. And after sending out your letters, call each person to follow-up just to make sure that they received it, which may open up a non-threatening dialog with them about a common friend or acquaintance, etc. Now that you have established some rapport, you will have lots to talk about and you can follow-up as often as you like to make prospects out of them too!
If you do this with all of your listings, you are going to have a huge valuable database of leads that you can add to your mailing list!
If you have current listings not under contract, why not try this technique with them too? Why wait on your next listing to come along? Do this today before a contract comes in so your sellers will be anxious to help you and they will be happy to see you trying something new to move their property too!!!
I hope you will try this proven technique and when you do, please let me help all of your new prospects get pre-approved so we can close them for you! Give us some homework too!
I hope you have another great week with lots of real estate activity! Call me if I can help you with that!!
Sam Thompson, Eager to Serve you!
PHH Mortgage Advisor
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