Prospecting can be one of the more challenging parts of the job, but it’s still the most effective way to get new business. After all, real estate is a numbers game. The more people you contact, the more leads you will get. The more leads you get, the more properties you will sell. It’s just that simple.
Five Real Estate Prospecting tips to make the most out of your prospecting hours.
Set aside time
Some experts say setting a time for prospecting first thing in the morning yields the best results, mostly because both you and your callers are still fresh and eager to go. While others swear by prospecting on the weekends and evenings–after the dinner hour– because that’s when people are home. No matter what time you choose, the important thing is that you do it.
While prospecting can be the most challenging part of the business and takes a bit of mental psyching to get in the mood, it’s a proven effective path to getting sales. According to the National Association of Realtors, for every 25 calls you get one lead on average. That doesn’t sound like much until you figure, you can make up to 300 calls per hour using the Mojo Power Dialer. Doing the math, that translates to 12 an hour! At the end of a two-hour block, you’ve got more than two dozen and more than enough to keep you busy.
Be prepared for your call
Have a script and practice it with a colleague until it sounds natural and easy. Make sure the script has you using your best phone etiquette, such as asking the prospect if this is a good time to chat. Also, build enough flexibility into the script so you’re getting in your key points, but also remaining responsive to your prospect. If you are getting ready to call specific prospects, for instance an FSBO lead you received from one of Mojo’s real time or aged For Sale by Owner data services, use key words from the ad in your pitch, suggests Larson Educational Services in Fort Meyers, Fla. Additionally, lead with a hook such as, “I have some news you might be interested in.” Douglas Driscoll, CEO, of Starr Partners says this gets a prospect curious and hopefully captures their attention. Further, if you ask a prospect for five minutes of time, stick to it. End the call at five minutes, if they want to keep talking, you know you have a prospect worth following up on.
Have a target area
According to the National Association of Realtors it’s a good idea to decide pick an area you want to target–this can be by neighborhood, by market niche, or by price range– but make sure that it’s big enough to meet your income goals. Mojo’s Just Listed/Just Sold Neighborhood search has a mapping feature that allows you to do this easily. When you are setting your income goals and your territory, remember to take into account that there will likely be other agents in the area gunning for the same business. Using services like Mojo Expired Data, Real Time FSBO Data and Aged FSBO can help you get an edge on the competition however and help mitigate their effectiveness on your turf.
Get in the zone
The prospects can’t see you, but that doesn’t mean they can’t sense if you are listening or if you’re excited about your pitch. First thing, close your email windows and put away anything else that might distract you from focusing on your potential client. Next, go hands free. This will allow you to walk around and keep your energy up. It will also allow you to use your hands while you talk. This may not seem like it’s important, but most people talk with their hands. Allowing yourself the freedom to do this while you are prospecting will help keep the pitch conversational and natural. Because, as Douglas Driscoll says, strong relationships are built on information not promotion.
Take notes and track your efforts
From what they are looking for in a property to what their golf game is, keep good notes on the person that you are talking to. That way when they call back, Mojo ID will display all of their information, instantly prepping you for your call. It’s also important to track data and look for patterns such as which niches are the most responsive, which days work the best, your success rate, and adapt accordingly. This is easily done through Mojo’s cloud-based organization system. Remember, as Sales Guru, John Boe says, “It’s critical to have a computerized client contact management system to record your remarks and track future contacts and appointments. Relying on your memory is a very poor business decision that can cost you dearly. ”
(Want to find out how you can benefit from Mojo’s Real Estate Dialer and Real Estate Lead Service? Click here to learn more about how Mojo can help you be more productive, better organized and dramatically improve your real estate prospecting results!)