Patricia Kennedy, shared this wonderful classic post that can be used many times over. The array of details and data will surely benefit you and your present or future clients. It is detailed and right to the point. It should also help with any gray areas, to give you an upper hand with this competitive real estate market in your area. Thanks for sharing.
Is Prospecting Becoming a Lost Art?
When I was a newbie agent a few decades ago, the most important part of the job was prospecting for clients. While a lot of the training I received involved financing, writing offers, preparing listing presentations and the like, a lot of it involved prospecting.
Agents who were poor prospectors were, as a rule, not too successful. Those who did a good job of rounding up buyers and sellers made it in the long run. The ones who tried to live on RELO referrals didn't last too long.
Many brokers feel that part of their job is not just hiring and training and retaining good agents, but also to feed them leads - I'm guessing for a hefty referral fee to the brokerage.
Agents who don't have brokers who take care of their prospecting needs may delegate the job to businesses who are really, really efficient at gathering lots of information on people who visit their web sites and sell Realtors their contact information. And while many of us write mini-rants about the lead sellers out there, they do seem to be addressing a very real need in the market place - Realtors who don't know how to prospect need these enterprises to send them clients.
Us old-timers are very lucky to have come up in an era where we had to learn old-fashioned prospecting skills. We learned to see likely buyers and sellers are all around us.
They are friends and neighbors. They are at the next table at a favorite restaurant. They come to open houses and call during our floor duty shifts. They are trying to sell as FSBOs and expireds. They are our favorite uncles, and our nieces and nephews. They are people who did business with us in the past and loved us. And some of them are strangers who trip over our blogs or web sites in the early stages of figuring out their home buying or selling strategies.
And yes. It's work. Prospecting is hard work. But it's work that, when you think about it, pays very, very well.