Prospecting is a marketing function

AZBroker

Thomas, take it from someone who understands the business, work your referral base first and then move on to the FSBOs and Expireds when prospecting for new listings.

Thomas

Thank you for the advice everyone.

Do you think I should do as Tom recommended with FSBOs and Expireds?

AZBroker

Thomas I am not familiar with the specifics of Tom's proposal.

I do know that the overwhelming majority of people (approx. 80%) who use and agent found the agent through some sort of referral. This is too big of a market to pass up.

I do know that FSBOs and Expireds are high visibility targets who have a high probability of needing a service like yours. I also know that FSBOs and Expireds don't stay FSBOs and Expireds for long so any type of a targeted mail campaign would be limited.

Bald Dog

Thanks for pointing it out. I may have missed something vital in the message, and jumped to the wrong conclusion.

My reason for emphasising marketing over selling is this: “The aim of marketing is to make selling superfluous” ~ Peter Drucker

The more we market (gradually warm up the audience), the more of them will come to us ready for business. They do the selling process on themselves as they are exposed to our valuable information (as opposed to our silly brochures and pitches).

“If the suggested solution is being welcomed, abandon it.
If a planned change is resented, investigate it.
If an innovation is being ridiculed, invest in it.”
~ How to Lose Friends and Infuriate People by Jonar Nader

And I try to live by this.

I think it’s a good idea to create a couple of lead generation channels. However, we have to make certain that we’re engaging in lead generation not in forced order generation. It’s also important to consider that realtors rate very low on trust level. That’s why repeat business is almost an oxymoron. But this is just based on what I’ve read and the real estate clients I’ve worked with.

Thoughts?

Cheers

Tom

__________________
Raise your sight! Blaze new trails! Compete with the immortals!
Tom “Bald Dog” Varjan
Request your free copy of "B2B Online Business Development Insider For Wise Buyers" at http://www.varjan.com

Gary Boye

No.

If results proved better from that venue, I would think that focusing on it and continous refinement would be smart. If by "number one" you mean at the exclusion of other methods, I personally would be against that. However, sometimes we have to eliminate methods that are not bringing results.

I think referrals are the best way to get business. Concentration on that should always be in personal strategy sessions. The best referrals are from existing and past clients. Early in the game you have to use methods that work to get those existing clients...otherwise the the source for the best referrals will not be hatched. Then, if you're creating good experiences, the referrals will come. It's simple logic.

I understand the business of referrals and I understand the business of people. All trades have esoterics.

Agent Smith

I like your ideas Bald Dog and Peter's quote is superb.

I'm not sure I understand. Would you elaborate?

Bald Dog

In my experience buying/selling a home a major drag for many people because they don’t trust the very realtors they have to rely on. The same way, we buy cars, but hardly ever trust the car salesperson who sells them.

But again, this is just my experience, and I know both scumbaggy and nipplepiercingly amazing realtors.

Have I made it clearer? Sorry for confusing you. It’s one of my major skills. [grin, grin]

Agent Smith

I understand.

If more salespeople would conduct themselves in a professional manner and more consumers would take an active role in protecting themselves by nothing more than checking into the person they were dealing with there would be a lot more trust going around. But then if wishes were fishes we'd all have a fry.

realtor

I would love that!

REBroker

That is one perspective.

Another perspective is that the economic value of any one salesperson can be measured by the volume of new business that individual brings to the company through means of their own.