Is Your Prospecting More Than A One Trick Pony?

By
Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

One trick ponyIs Your Prospecting More Than A One Trick Pony?

We all know that prospecting is the key to survival in real estate.  From one direction or another, we need new leads to work and convert to clients.  But at the same time, being dependent on any one sole source of prospecting leaves us vulnerable to shifts in the market.  Recognize the shift too slowly and you're struggling for business.

We're having a pretty good week with opportunities:

  • A possible buyer interested in a specific house and sent our way by a past buyer that knows them....you've got to love those referrals from past clients!
  • A condo listing after a general search for area real estate agents and liked the looks of our main website....and better yet, they're wanting to bump up after the sale.
  • An appointment for a prelist from our AR outside blog that is dedicated to the patio home niche (and not the only contact we've had from this dedicated niche in the last two weeks).  And they're staying in the area and buying.
  • Another prelist appointment, this time because the seller is watching all the activity across the street at one of our newer listings (which we got from a web lead company).

And the cool thing is nothing here is duplicating source.  Multiple sources of potential business and we're not dependent on any one venue to pull more than its fair share.  And oddly enough, none of these came from our direct mail, which has actually been a solid source of business for us too, and we've got plans to expand there to match up with our patio home niche work.

Now will all those opportunities turn into actual business?  Maybe not.  Realistically, probably not.  But at least the opportunities were there, and opportunity surely beats no one knocking on the door.

So are you prospecting?  And do you have more than one source working for you?

Serving Warren County's residential real estate needs,
Liz and Bill aka BLiz

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Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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Rainmaker
1,282,430
Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

You are right, one of the ways to get new clients.  Also, need to do a lot of internet advertising for out of area buyers.

May 26, 2012 01:11 AM #1
Ambassador
2,692,128
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Edward & Celia, It's nice to have more than one stream of business.  It has taken awhile for our blogging to have the desired effect, but I think we've hit critical mass and the calls are getting more frequent.

May 26, 2012 01:19 AM #2
Rainmaker
2,302,722
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: Your message really hits home with me because I have watched some very successful local agents struggle because they failed to expand beyond their single niche.  Diversify and prosper!

May 26, 2012 01:20 AM #3
Rainmaker
1,180,860
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Liz & Bill, I totally agree, you need several highly effective sources of prospecting to be successful in real estate. Thanks for the post, good information!

May 26, 2012 01:24 AM #4
Ambassador
2,692,128
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Anita, I (somewhat) worry about all the agents who ONLY seem to do REO work.  What happens when things get "back to normal" and short sales and foreclosures are just a small sliver of the market?

Adrain, Definitely!  And while I'm not a huge fan of paying a lead company 25% of a closing, I will if they're providing business I wouldn't have otherwise had the opportunity to win.

May 26, 2012 01:27 AM #5
Ambassador
2,692,128
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Back later, time for one of those prelist appointments!

May 26, 2012 01:28 AM #6
Rainer
19,739
Dave Kinkade
Home Locators Property Management Tampa Florida - Tampa, FL
Director of Marketing - Property Management

Thanks for this reminder to us all to focus on the whole of our business development.  Continuing to think one stream of income will allow your business to prosper indefinitely is one of the oldest mistakes in the book. 

May 26, 2012 01:37 AM #7
Rainmaker
796,857
Liz Wallace
Century 21 Sherlock Homes - Rockville Centre, NY
Broker C21 Sherlock Homes, Rockville Centre, LI, N

A suggest from me.  You have to bounce around from internet to signs to referral and once in a while even print.  

May 26, 2012 02:14 AM #8
Rainmaker
811,871
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Suggested...this should be required reading for all newbies and a good refresher for other agents.

 

May 26, 2012 04:22 AM #9
Ambassador
2,692,128
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Dave, Definitely too tight a focus is risky unless it's a self replenshing niche.

Liz, We're working each of those streams and adding a few here and there for different angles of approach.

Diana, Thanks!  Having a wide range of options takes some stress out of the equation.  We don't always know exactly which one or when it will work, but it works.

May 26, 2012 05:18 AM #10
Rainmaker
1,164,379
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

This is good advice, Bill. I used to door knock, cold call, and  sometimes send out mailings.  My main source of business was the cold-calling.  Now I do none of that.  It's all online.  If isn't good just to do one thing, but honestly, I can't face the other options anymore :(

May 26, 2012 07:32 AM #11
Ambassador
2,692,128
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Jane, I consider market reports and community posts virtual door knocking.  Many of the benefits without the sore feet and 5 pounds of sweating from the 90+ heat.  We mail too, mainly to Expireds.  Time to expand the direct mail a bit more I think.

May 26, 2012 09:41 AM #12
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854,019
Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

Looks like you have many different sources for prospecting and they are bearing fruit!  That's wonderful.  I try different types of prospecting too and figure the best way is to keep consistent!  

May 26, 2012 10:27 AM #13
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2,692,128
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Brenda, It was a good weekend, 3 for 3 on the listing appointments, one on the market in a week or so, the other two investigating a couple of things before deciding if now is the right time or not to list, but when they do, they've both said they're hiring us :)  Part of the reason we don't skip blogging days.  Blogging is a key part of our prospecting strategy.

May 26, 2012 10:48 AM #14
Rainmaker
902,276
Kay Van Kampen
RE/MAX Broker, RE/MAX - Springfield, MO
Realtor®, Springfield Mo Real Estate

Bill, I quit door knocking years ago and switched to targeting the areas we want to market.  Today, past referral and the internet have taken their place.  Everything works if you do it consistantly.

May 26, 2012 11:34 AM #15
Ambassador
2,692,128
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Kay, We've never knocked doors, and with the tools at our disposal don't see us starting now. What we do is working, and can only get better as the blogging has more effect.

May 26, 2012 11:59 AM #16
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