Prospecting Tips for Real Estate Sales People
Prospecting is more important for a real estate salesperson than any other skill and business habit, simply because if we don't have people that need our help to buy or sell real estate, we have no business. Having a clear prospecting strategy to build up our real estate clients list is the lifeblood of our success.
Many salespeople (me included) naturally shy away from prospecting, especially when they first start out in the real estate business.
Here are some things to keep in mind when prospecting as a real estate salesperson.
1. Prospecting is about interrupting people
James Shepherd of CC sales pro says “Prospecting is interrupting people”. This means that we can only call it prospecting if we make people stop what they do and interact with us.
The important thing to remember is that your interruptions, whether door knocking face to face or cold calls, comes with the value that you can offer. So long as you can communicate that you are off to a great start!
2. The first lead is the hardest
The hardest thing about prospecting is getting started. The first cold call, the first door knock, and the first email are always the hardest to complete. Once we start our prospecting efforts it is easier to continue.
3. We have to be disciplined
It’s not enough to just do it once in a while or when the business drops, we have to be disciplined. Make the most of your prospecting efforts by generating leads every day - consistency is key.
4. Prospecting needs to be done first
Our days are usually full of activities and can be hectic. Don't forget to get started with your prospecting efforts first, or the chances are good that it won’t get done at all because we will get busy.
5. Prospecting is not complicated
It is not difficult to make phone calls, knock on doors or send targeted emails.
You can get creative by tapping into expired listings, talking to friends and family and sharing your contact information or business cards at local events however they are ultimately the same. Putting yourself out there to buyers and sellers is a great option to support their real estate journey. We do these every day, they are daily activities.
6. Prospecting is still a numbers game
The more we prospect, the more leads we will have. The more leads we have, the more sales we will make.
If you're wondering what the value of your real estate prospecting is, think about the numbers. At a 10% conversion rate, you will make one sale for every 10 leads you generate. If you have 100 leads, you will make 10 sales. It's easy to see that the more leads you have, the higher your chance of making more sales.
7. Prospecting is about building relationships
I came across this definition of prospecting many years ago and it changed the way I look at prospecting, “prospecting is a focused, persistent and systematic method of developing sales leads and beginning relationships that lead to sales.”
The important terms here are:
· Focused. Make a specific effort to action your prospecting strategies.
· Persistent. Work on creating new leads every day, and do not be put off by setbacks.
· Systematic. Decide on a method, strategy or tactic to work on, and keep at it. You can add additional strategies, or test others as time goes on, but be consistent with it.
· Relationships. You want to create long term relationships that ultimately bring true value to you both.
8. Prospecting is an ongoing activity
No matter how successful we become, no matter how many sales records we break, we always need to keep on generating leads. The strategies that you use to grow your leads may change with reputation and time in business, but the leads still need to come in.
And finally, remember that everyone has to do it, it can be challenging for us all, and it is okay to find it challenging at times. We're all in the same boat.
If you would like support with developing your prospecting strategies, building your real estate sales career or finding a mentor, check out our services page, here: https://www.barzilay.co.nz/services