Prospecting for Listings: It’s in the Math

Knowing your math can help you achieve long term success in sales. We promise, your prospecting math is much easier than linear equations.

PROSPECTING FOR LISTINGS

Marketing to folks in the sales industry bears  resemblance to the style of marketing found in the weight loss industry. Think about it, if you’re in sales, you’re likely inundated with emails promising more sales, higher commissions and the fast track to owning the high-end supercar you’ve always dreamed of owning; all these sales ‘authorities’ pushing the ‘next best thing’ since sliced bread.

Sounds a lot like the magic pill for weight loss doesn’t it?

Do some of these products work? Sure, of course they can work, after all, even a blind squirrel finds a nut occasionally. To find real success though, you need to adopt a system of technology, hard work and persistence.  And certainly, you NEED to know YOUR MATH.

Last week in the Mojo Mastermind group, a client posted the following:

“Ok after less than 2 weeks, I am getting 1 appointment for every 700 calls.  How are other folks doing?  These are pure cold calls.”

What followed from the Mojo community was surprising. A flurry of comments began to pour in the post from other mastermind agents. The takeaway from the comments was clear: many agents have no idea what their MATH is.

Just Listed Just Sold leads
The Neighborhood Store from Mojo is your instant solution to making more calls, connecting to more prospects and setting more appointments.

Additionally, the majority misunderstood what this agent meant by ‘cold calls’, they assumed she meant off-market dialing. She later explained her math was calculated from dialing on the Mojo Lead Store Neighborhood Search data, pure cold calling.

Those are some good numbers considering they are calculated calling publicly listed data and from a brand new agent; imagine the uptick when dialing on warm and hot off-market data using her growing skill set.

Let me digress for a minute and tell you about the first time I realized knowing my math was absolutely critical to being successful in sales, and to have a duplicable business model.

It was 1996 and I was just thrown to the sharks on the floor of a major automobile dealership. I was becoming an average salesperson, and while I liked my job, I was doing it like all the other sales people and my ‘average’ status was beginning to bother me.

Thankfully, one day when I was en route to grab a vehicle from another dealers inventory, I started a conversation with Ed the driver (retired fellow who drove cars around for the dealership) He began to tell me his life story, and how after WWII had ended, he started a small company to feed his kids, and turned it in to a successful regional business feeding many families and their children.

What was the business? Selling soap, door to door.

That’s right, Ed had learned door to door selling from his father in the Electrolux business and wanted to sell something people needed; not a fancy vacuum, but soap, bars and bars of soap. He would start in a small town and he and his wife would go door to door. Because so much was on the line, he learned fast how many doors he had to knock on before he got a sale; he learned his math.

electrolux
We don’t know about you, but we’d love to hear this Electrolux salesperson pitch back in the 50’s.

Knowing his math helped him overcome the door knocking reluctance he had since pitching vacuums with his father. He knew how many ‘no’ answers he had to hear to get the yes, and this powered him through the process.  He was eager to hear the no answer, it got him one more answer closer to YES.

Ed sold his business in the early 50’s to a couple of men who grew this concept in to a huge worldwide corporation still dominating the personal product market today.

Just like the agent who posted her numbers to the Mojo Mastermind Group, you need to figure out your math. With it, you can execute a decisive, measurable prospecting effort that will produce duplicable results.

Grab a pen and paper now, and figure out your math. How many calls do you need to set an appointment? How many appointments do you need to go on to close a listing?

Once you have this figured out, write it down where you will see it often, add it to the desktop image of your computer, and repeat it to yourself every morning.

Click here to learn more about the Mojo Dialer and Real Estate Data services.