Prospecting - What do you use?

Damn,
It looks like I am the only one that Selected Door Knocking.

Seriously though - I was sitting in my dealership one day and it was a typical weekday (when I was just a salemen) - I approached my sales manager and asked if I could go door knocking with mybusiness cards. He thought I was just going home so he said yes cause it was dead. Anyway the following week I signed up 2 people a day - the people I signed up were from handing out business cards and giving a little speel like - My name is Gerry - I have just jioned ABC Cars and if you or any of our family or friends are looking for a new car please give me the opportunity help you. I kept a tally and every 100 business cards/doors I knocked on I sold 20 so 1 in five is not bad when you think of the little effort it takes to knock on someones door - The sales manager made it a regular thing - Every day someone had to be out knocking from 4 pm til 6 pm.

I think there are several chance for any of the tool to work - Nice experience Wanderer

My experience has been that there is no easy answer when it comes to what type of prospecting works. I don't think you can simply decide what methods you will use for your business and stick with those.

The business world is always changing, and it requires testing prospecting methods on a consistent basis. What works for you now may not work in a month or two. What worked for you last year and quit working, may now work again.

Testing different methods of prospecting, tracking results, and planning campaigns is something you should do for the rest of your working life. Use what is working at the present time, drop what isn't working, and continue to test new angles on old methods.

When you find a method that works for you...run with it. Hit it hard and fast. Track the results. As long as it continues to produce results you continue to work it.

Never rely on one prospecting method to supply you with leads. Always have 'many irons in the fire' when it comes to prospecting. Some will work better than others, but if one methods brings you results on a consistent basis, continue to use it. It may only be small results, but if it's steady there is no reason to discontinue it.

I believe the 'home run' of prospecting is referrals. You simply cannot buy a good referral no matter how much money you have. It has to come as a result of a customer becoming a 'raving fan' of your product or service, and you.

When I sold floor coverings and a customer spent $10,000 on new floors I made damn sure everything went smoothly and they were happy as a lark. I called them after the job was done and made sure they were happy. I stayed in touch with them, and made sure they knew I was available for anything they needed after the sale.

And I asked them straight out if they would help me with referrals to their family and friends when they discovered they needed new flooring. And every time I received a referral that resulted in a new sale I sent the original customer a gift certificate for a good restaurant as my thank you.

If you go out of you way to 'cultivate' a referral network, you will rise above average very quickly. Referrals are powerful.

When you go to a great restaurant or see a super movie what do you do? You tell your family and friends how good it was. That's the reaction you want your customers to have when they do business with you, no matter what you sell.

Work on referrals, first and foremost...Coach Doug

Cold Calling has always workd for me.

The brokerage lets salespeople take phone ups and walk-ins but those are usually buyers. For sellers I drive around looking for homes with for sale by owner signs and call the number on the sign. If there is a better way I'd like to know about it.

For me I picked Cold Calling

I picked Referal

Hi Thomas:

Not a bad idea to call on FSBO's (for sale by owner). If they have been trying to sell their home by themselves to avoid the realtor commission and haven't had much luck, you could step in and make a deal with them that if you brought a cash (mortgage) buyer they would give you the regular commission. Or if they are really getting desperate, you may get the regular listing.

Why don't you check the ads in your local newspaper, chamber of commerce newsletter, and local business associations. Look for people offering mortgage loan services. Call them up, tell them you are a realtor, and ask if you can take them to lunch and talk about a business 'partnership.'

This person is spending advertising dollars to increase their loan business. Offer to become their 'partner.' When you find buyers who have not qualified themselves for a loan yet, you send these people to your new 'partner' and get them qualified. You will be helping build their mortgage business. And in return, when the loan broker meets people who are trying to qualify for a home loan but don't have a realtor yet, they send these people to you. This makes perfect sense for the both of you and you will help each other build your businesses.

I've read your posts Thomas, and you write well. Why not put together some articles about how a realtor helps people buy or sell their home and submit them to your local newspaper, or chamber of commerce newsletter, or to business association publications in your area. By getting a couple articles published you will become known as an 'expert' in your field and the exposure can be substantial. And the more people who know about what you do the more your business will increase.

If you don't want to write articles, create a simple 4-panel (one paper folded) brochure about your services and print them out on your computer and mail them to FSBO's. Visit mortgage broker offices, appraiser's offices, bank's, and other businesses related to your business and see if you can leave a stack of them in those offices.

Visit some floor covering stores in your area. These people run into home owners all the time who need to replace their flooring before selling their home because they've worn out the carpets. Any most of them don't have a realtor yet. Form a business 'partnership' with these salespeople and send each other customers. When you get a listing that needs the flooring replaced to make the home sell faster send them to your new flooring 'partner.'

Brainstorm and become creative in your prospecting for new business. There are many 'opportunites' out there if you look where you normally don't look.

...Coach Doug

Any form of these will work, at the end of the day make sure that you are known by your locals and the people you would class as your demographic and go from there. You need to make sure you hit the ground when selling in order to rise above the rest.

Well done wanderer, Thanks for sharing your experiences with us.

Prospecting - What do you use?

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