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Best of 2014: Prospecting with a CMA

December 19 2014

There's just 10 publishing days left in 2014, and we're continuing an annual tradition of counting down our top 10 articles of the year. The following article was originally published back in March and is #10 in our countdown:

Everyone wants to know what their home is worth, not just those who are thinking of selling in the immediate future. After all, their home is probably their most valuable asset. A report that helps them better understand that value is a very compelling offer, one that will help you secure their contact information and use additional marketing techniques to earn their business.

1) Knock on doors.

Let's face it, most of us hate doing this, but it's a great way to build your client base. If you're looking to drum up business in a specific neighborhood, go door-to-door. Have a CMA prepared to hand to them if they are interested. With new clients, especially, it's important to include your branding on the CMA. You want to make it as easy as possible to remember your name.

cloudcma ret 5 prospecting

This example is from Cloud CMA.

2) Make a few calls.

Don't feel like pounding the pavement? As the saying goes, let your fingers do the walking. Use the phone numbers in your CRM to call homeowners and volunteer to send them a report that explains their home's value.

3) Make an offer on your website.

Trying to capture Web leads? Post an offer on your website, something along the lines of "Find out what your home is worth." Link to a quick contact form that asks for their address and contact information.

4) Reach out to past clients.

Send out an email to past clients, perhaps on the anniversary of their last purchase. Write something along the lines of, "Wow! You've already been in your new home for a year! It was $X when you first purchased it; what is it worth now? I've attached a report to help you understand your home's value."

5) Use your iPad to sign up new prospects during an open house.

You're all too familiar with the fact that many visitors to your open house are going to be people from the neighborhood who are essentially just "looky loos." They aren't going to be interested in learning more about the property you're showing, but they are going to want to know what their own home is worth. Keep your iPad handy and tell them that if they submit their email address, you'll send them a report with just that information.

Be sure to strike when the iron is hot! Advanced CMA tools like Cloud CMA allow you to create attractive reports in seconds. So there's no excuse not to have that CMA waiting for the prospect when they arrive back at their house.

A Sense of Urgency

You don't want to push these homebuyers too hard, but if you're looking to add a sense of urgency, you can point out that a CMA is based on current market data. Tell them that the market can change quickly and the CMA could no longer be relevant in six months or a year.

Next Steps