Saturday, August 12, 2006

Back to the Real Estate Prospecting Engine

Take this example. You advertise one of your listings in the local PennySaver. You get a phone call from a potential client from the ad. The prospect asks you about the property and after your second sentence indicates that the property is not for you. You try to garner a prospect from the call by offering to mail the caller a free report on the ten things that every homeowner must know before they buy a home. Reluctantly, the prospect agrees to accept the report, but makes it clear that they are just “feeling out the market right now” and are not going to buy a home any time soon.

You send out the report the next day and follow up in a week to make sure that the prospect received the report. He says he did, thanks you for the data, but once again indicates that he is currently just kicking tires. During the discussion, you find out that he does have a stable job, owns a condo, and may someday move into a house, but has no immediate plans to take action. Once again, just kicking tires.

Now at this point, this caller is a moderately warm lead, but it may be some time before he is ready to take the plunge and buy a home. Instead of just letting him get away, or putting him on the monthly newsletter, make sure that he is touched often enough that he remembers you and will end up with you as his REALTOR.

Feed this prospect into your prospecting engine. Put him in the system so that once a month he receives your newsletter. Every other week make sure he receives your email updates, and if your MLS has the ability to send periodic listings that fit his need, sign him up for it. Ask if it would be okay to send him periodic market updates and add him to that distribution list as well. Finally, follow up every three of four months to re-qualify him and evaluate if he is ready to become your client. Chances are eventually he will

BN –

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