Ways to Prospect for Business
Prospecting is an on-going piece of the real estate business. It takes about three months of consistent prospecting to being to have potential buyers and sellers.
You need to have 3 on-going prospecting activities. These can be anything that you want to do. Some are no-cost, take a modest investment while others can be very expensive.
Buyers, in general, are easier to find than sellers. Experts say if you spend 85% of your time prospecting for sellers and 15% prospecting for buyers, half of your business will be buyers. As you begin to find business, it’s extremely east to not find the time to continue to prospect. Once you stop, you will have to wait another 3 months for business to pick-up.
The goal of prospecting is to keep a steady stream of potential clients in the pipeline.
You need to have three regular prospecting activities that you can count on to bring in business. Any more than 4 will not give you time to work with clients.
Special activities such as fairs or events do not count as regular activities.
The National Association of Realtors suggests that you have 31 contacts per year with your clients, friends and family. A combination of marketing techniques makes this fairly simple.
One Year’s Activities – What is laid out below gives you 45 contacts.
General Postcards 1 x month
Newsletters 6 x year
Phone Calls 4 x year
Just Sold or Just Listed PCs Each Xaction (10)
Calendars 1 x year
Magazines 6 x year
Email 4 x year
Face to Face Meetings 2 x year
Xmas Cards 1 x year
STOP! Think about someone who sent you 46 things during one year. Are you happy with him/her? Probably not. That’s why you need three consistent activities. And, of course, you can always add a personal note, a phone call or something special.
Face-to-Face is the best prospecting activity. Have lunch, coffee, dinner or drinks with friends and ask for their help to build your business. These are your friends, ask them for help. Ask them to help you find clients. So, perhaps 5 or 6 face-to-face meetings per month makes sense.
Meaningful direct mail 3/4 times per year. Send “homes in your area sold” flyer/post cards. Do something silly – I always have something clever and will share.
Belong to a regular, organized group. Non-profit, car show groups, bowling team, church, be a docent, anything that you enjoy. If you aren’t having fun doing whatever, you won’t get anything out of it.
Send a Christmas card, Thanksgiving Card, some off-the-wall holiday card.
Take a look at the prospecting ideas. There are always other ways as well, but the list will start you thinking.