Last Tuesday we had the privilege of hearing Sham Reddy CRS present for an hour. Even though I took a lot of notes, Sham was generous enough to allow me to share his outline. We are so fortunate on AR to have this quality of member who is such a professional, so knowledgeable and so so willing to share.
Thank you Sham for all that you do and have done to make me proud to be a REALTOR®
''Prospecting & Art of Referrals Refresher
By Sham Reddy CRS Activerain Zoom July 6, 2021
- Build your Business for all seasons and all reasons
- Prospect consistently when you are new and establish long term relationships
- Make your business relational, not transactional
- Once you get a chance to work with people, they are yours forever unless to decide otherwise. Stay connected…so easy now!
- Leave your channels of communication open long after the transaction is done. Be the source of all RE related information including providing names of service providers
- Establish Standards of Boundaries for yourself and your business
- Sharpen the saw often.
- Don’t be afraid to walk away from negative clients, refer them out
- Apologize if you make a mistake and offer to make it right
- It doesn’t have to be “all business all the time”
- Become a specialist and offer education to other agents
- Endless referrals by Bob Burg
- Listen to motivational speakers like Zig Zigler, John Maxwell etc
- Know the difference between prospecting & servicing
- You prospect consistently, no matter if you are busy or not
- The more prospects you have in your pipeline, you have choices
- It’s an organized activity no matter what. Choose time & place for prospecting, Fight off distractions, Follow the plan, and most importantly do daily affirmations
- Of 100 prospects: 1 need your services now, 20 will in next 2 years, and 50 will in the next 5 years.
- If you have more than 6 hot leads; not prospecting enough, If you have more than 15; not qualifying enough. Top of mind awareness.
- The purpose of prospecting is to get face-to-face appointments to see if they are a good fit for you and you can serve them well.
- Hierarchy of Value: Past Clients, Sphere of influence, Expired, FSBOs, Lead follow-ups, Open houses, and door knocking
- Listing referrals do not come naturally…you have to nurture it
- Prospecting for Buyers is easier than prospecting for listings
- First-time buyers are great candidates for lifelong relationships with higher loyalty
- Social media makes prospecting easy and affordable
Niches: Investment properties, Short sales, Creative financing, First-time Homebuyers, Converting renters to buyers, etc
- Riches are in Niches Specialists vs General practitioners
- Mine is working with Investors. Was an investor for a long time
- Member of local Investors Association for 30 years, President, Board member, speaker, trainer, and Volunteer
- Gets more referrals from other realtors
Networking: Do it on purpose, do it consistently in person or virtual
- Local networking groups with other businesses
- Approach with an offer to help build their businesses
- Network After Work, a national networking group
- Belong to more than one
Community Service & Other Trade Associations:
- Be a volunteer in your community, at your Trade Board
- Participate in community festivals & volunteer
- Belong to diverse groups like Hispanic & Arab associations
- Help the Trade associations in any capacity you can especially legislative issues for that trade group.
- Rebuilding Together Dayton: 22+ years helping one day year, 10+ year homeowners who poor, sick or elderly unable to take care of deferred maintenance on their homes. I collect 30-50 volunteers from Investor, Realtor and Lender groups
- I volunteer is maintaining 15+ flower beds at my local church for 26 years giving almost 400 hours a year
Active Rain Community:
- So blessed to be a part of this giving community for 20+ years
- So thankful for Margaret Rome for inspiring me to do this Zoom call
- Also grateful to people like Kathy Streib, Rocky Dickerson, Roy Kelly, Ron & Alexandra Seigel, Liz & Bill Spear, Joan Cox, Paul Henderson, Nina Hollander, Joe Johnson, Michael Jacobs, Brian England & many others''