4 Rules Of Prospecting For Home Buyers And Sellers

By on July 7, 2014

One lucky break is exactly that. A lucky break. To achieve long term consistent success in your real estate career, you need to implement systems to keep your buying and selling prospects coming in like an assembly line in a Japan factory. If we work this backwards, in order to close a deal, you need to have an agreed price between a willing buyer and seller. To get to that stage, you need to be at the service of one of those 2 parties. And to be hired by them, you need to prospect for them. Does that sound simple enough?

If you acknowledge this stage by stage process, it is very tough to argue against the magnitude that prospecting weighs on a real estate agent’s success. It is the very first step to attach yourself to a deal taking place, which you will eventually get remunerated for. And for many wildly successful agents, prospecting is the very difference that makes them superstars out of the thousands in the same profession. These are the 4 rules for successful long term prospecting.

1) Set aside daily time slot and place to go about your prospecting work

You simply cannot run into spare time and use that for prospecting impromptu. You need make it a habit or routine to do that stuff. You also need to be at your work desk so that you have the proper telephone equipment and computer systems access to do your job professionally and properly.

For example, you might want to reach home owners right after lunch or at a time where they are likely to be at home. This would mean scheduling yourself for a time slot between half past 1 or half past 8. Equipment-wise, you would want to have a hands-free ready so that you have your hands free to make notes or access the computer simultaneously to grab data. Maybe even to follow a cold calling script.

In terms of technology that is meant to improve your productivity, it is definitely not the time to be a cheapskate. Go for the absolute best or if you have a budget constraint, at least get those that are above average in sound quality and features. Even if these equipment cost you a few hundred dollars, you are going to get everything back with change to spare from just 1 deal. It is worth the investment. Trust me.

When you are doing cold calls yourself, there are 2 things that you have to pin up on the wall in front of you. Or have it in front of your computer. They are your sales script, and an objection handling script. This is to keep you prepared when responding to a client in a timely manner is imperative to success. It also helps you to avoid one of those miserable situations where you knew the answers to a prospect’s questions  but just could remember it about 15 seconds later. That could very well be 15 seconds too late to impress the person on the other end of the line.

2) Eliminate distraction

The world these days is full of unhelpful distraction. Facebook on mobile, Twitter, emails, instant messaging applications, etc. Sure it can be fun and cool when you are out with your friend. But it can be keeping you from hitting the flow. It is so difficult to get into any conversation with messages coming in nowadays.

Get serious and get rid of them when you are prospecting. They are not helpful at all in narrowing your focus. There are very few messages that can come in that requires your immediate attention and response. Even when there is an urgent title, it usually is not as urgent as it is penned out to be. You can always go back to them when you are done with your prospecting activities. You can easily eliminate all these distraction by switching your phone to silent or turning it off. Your productivity will fly through the roof instantly.

3) Draw up a plan and follow it

Just like anything you do that has an important objective, you need to come up with a plan to reach your prospecting objectives. You might also want to get your manager involved so that he can hold you accountable for following through. It’s not like something bad would happen to you if you fail, but having an accountability partner can greatly affect how you approach things. Even if the reward is just meaningless bragging rights.

A huge reason why many people find it difficult to succeed is that they do not follow through with their plans or make changes to it without giving it enough time to see results. Remember that you have spent hours brainstorming your plans and got in-depth advice from your manager when crafting it. The least you can do is go through with it to get a measurable result. Research, review and re-enact. Then rinse and repeat for each call you make.

4) Believe

It can get really depressing when you have made 50 calls and received nothing more than just a couple courtesy email addresses. But you have to remember that prospecting is all about sky-high rejection rates. The prospecting training business is not a multi-billion dollar industry for by mistake. You need to approach it with the mentality that you will reap the rewards if you keep plugging at it.

When you have a conviction that the money will eventually come as long as you follow the proven route, you will be motivated to follow through with all those troublesome activities. No successful man would have achieved success without having a certainty that they will attain their goals by following a set of action plans. You should do the same.



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