Do You Suffer from Prospecting Phobia?

March 05 2014

point2 prospecting phobiaDo you suffer from 'Prospecting Phobia'?

What you can do when you despise prospecting? Have you said to yourself:

  • "I hate cold calling."
  • "I don't need to prospect; the Internet does it for me!"
  • "Direct mail is expensive and has a low ROI."

These myths couldn't be more incorrect, because when you're in sales, prospecting is the key to profits! But if you think that prospecting is limited to cold calls or knocking doors, you may not have the full scoop. According to expert prospecting guru, Bob Corcoran, profits are guaranteed when you implement a real organized and highly consistent prospecting strategies.

Bob, of Corcoran Consulting & Coaching, says a solid prospecting plan earns $1,600 per hour! For over 11 years, Bob has tracked the outcome of his coaching clients and the numbers speak for themselves – prospecting PAYS!

So why the barriers? Why do agents do everything BUT prospect?

He says the answers are simple: Agents are reluctant to prospect for several reasons, including:

  1. No definite prospecting time plugged into a consistent weekly schedule
  2. Making calls at the wrong time of the day
  3. Using a script that does not engage or offer value
  4. No organized, specifically targeted prospecting database

Top producers know that there is more to prospecting than making a few phone calls and sending direct mail. With a comprehensive purposeful prospecting plan, Bob promises you can double your income in record time!

Here are a few tips:

1. Prospecting should be done in a manner that is purposeful and provides some value to the contact. Just calling to tell someone you are in real estate and that you need more listings probably won't pay off. Bob recommends that when you offer a service that is relevant to the contact, you are more likely to make a connection, create the relationship and position yourself as their 'go to resource' for any future real estate needs. This initiative takes practice, tweaking and a little research, but works well. Offer a report with data and information that is specifically designed and highly relevant to that database.

2. Direct mail can be a very expensive way to 'brand' yourself, but by adding additional options that are of interest to your target market you provide a bridge that leads that prospect to your web presence for more information. Reports that include information like new inventory alerts, automated CMAs or free reports, or updated property value statistics may be of interest.

3. Door knocking may be inappropriate in some areas, but when a home owner actually meets the agent that has positioned themselves as the neighborhood area specialist, the reception can go from 'frosty to friendly.' Agents must demonstrate early on and earn the right to be the expert specialist in the area; they must be willing to seed that premier positioning thru multiple resource initiatives that when done well, can provide high visibility and recognition.

What prospecting strategy has worked for you in the past?

To view the original article, visit the Point2 Agent blogPoint2 Agent blog.