12 Real Estate Prospecting Tips
Build a wide sphere of influence through regular prospecting. There’s no time like the present to improve your skills with these handy tips.
1. Add a memo field to your contacts database to store pertinent, personal information about prospects. For example, planned retirement in two years, children going to college, or a big promotion.
2. Conduct a phone survey. Choose a topic that’s likely to be of interest to your prospects—the impact of recent school reform or how the current economy is affecting the neighborhood. Then offer to e-mail the survey results. Voilà, you have an instant e-mail marketing list.
Before you pick up the phone, know your state’s anti solicitation laws. Surveys aren’t prohibited under the national do not call laws, but you can’t talk about or sell your services to people over the phone at the same time. Keep the call strictly to research.
3. Motivate yourself to prospect by making a deal to pay a fellow associate $10 a day for every day you don’t cold-call for one hour.
4. Analyze the language used in FSBO ads and adapt your marketing presentation to fit the style of each prospect.
5. Smile when you pick up the phone. Experts say the simple act of smiling subtly alters your voice and manner and makes you more approachable.
6. When you’re setting up a listing appointment, be sure you’re talking to the decision maker.
7. When you call to introduce yourself, ask if the prospect is busy. If so, ask for a convenient time to call again.
8. Hand-address your letters. It increases the likelihood that they’ll be opened. Mailing too many letters to hand address? Choose a computer typeface that looks like handwriting.
9. Contact your best prospects first in case you run out of time.
10. Build your e-mail list by sponsoring an occasional online contest. Tell interested prospects they must enter via email and will be notified the same way. Offer a good prize—a television or dinner for two at a hot restaurant.
For each contest offer a different kind of prize. Sooner or later, you’ll motivate most people to participate. (Contests are regulated in every state. Check with your state attorney general’s office for regulations.)
11. Ask prospects for a five-minute appointment in return for your tips on how to increase their home’s value.
12. While at a fast-food drive-through, pay for coffee for the car behind you. Ask the clerk to hand your business card to the driver. You might get a call or e-mail with thanks.
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