Fundamentals in Real Estate Part 3 Prospecting

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Fundamentals in Real Estate Part – 3 Prospecting Systems Pranav Pandya Franchise Development Manager RE/MAX Mumbai Gujarat Maharashtra

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The key to success in real estate is lead generation, turning those leads into appointments, appointments into contracts and contracts into sales. Sales Associates want to generate as many leads as possible, in the shortest amount of time and at the least expense.

Transcript of Fundamentals in Real Estate Part 3 Prospecting

Page 1: Fundamentals in Real Estate Part 3 Prospecting

Fundamentals in Real Estate Part – 3

Prospecting Systems

Pranav PandyaFranchise Development Manager

RE/MAX Mumbai Gujarat Maharashtra

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RE/MAX Mumbai Gujarat Maharashtra

Recap

• Part 1 - Getting Startedo Nature of the worko Market trendso Become the Sales Associate of choiceo Four reasons why Sales Associates failo Sales Associate mission statementso Goalso Marketing plan

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RE/MAX Mumbai Gujarat Maharashtra

Recap

• Part 2 - Marketingo Needs and wants of consumers are changingo The brando Marketing a serviceo Building relationshipso Marketing ruleso Personal promotiono Specializeo Elements for your marketing plan

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RE/MAX Mumbai Gujarat Maharashtra

Today’s Agenda

• Repetition• Seek opportunities for leverage• Six steps to getting started• Farming• Direct response marketing• Expired listings• For Sale by Owner• Ad/sign call system• Open houses

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RE/MAX Mumbai Gujarat Maharashtra

Methods of Prospecting

• Passive – Waiting for business to come to you - floor time, website leads, and open houses.

• Active – Referrals, FSBO’s, expired listings, canvassing – door knocking, cold calls.

• Purchase – Ads, signs, flyers, personal brochures, media – radio, TV, billboards, ad words.

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RE/MAX Mumbai Gujarat Maharashtra

Prospecting is:

• Giving a business card to everyone you meet.• Letting everyone you meet know you are a RE/MAX Sales

Associate• Asking for business• Farming and personal leads• Preparing a personal brochure• Advertising• Sending thank-you cards to everyone who helps you

Ask everybody for business - friends, relatives, the dentist, everybody. Remember, if you don’t ask, the answer is always “no!”

Realize that prospecting is a numbers game.

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REPETITION

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RE/MAX Mumbai Gujarat Maharashtra

• There are lots of myths about prospecting, like the one that “You can only call a prospect once.”

• Your prospect doesn’t want to buy from you today but they may tomorrow.

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SEEK OPPORTUNITIES FOR LEVERAGE

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RE/MAX Mumbai Gujarat Maharashtra

Some people are able to send you a lot more referrals

• Lawyers• Loan Executives and bankers• Builders and developers• Companies needing relocation services• Human Resources departments• RE/MAX Sales Associates across the system

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RE/MAX Mumbai Gujarat Maharashtra

Prospecting Method

• Online campaign• Signs• FSBO (For Sale By Owner)• Mailers• Open Houses• Past clients and centers of influence• Door knocking• Farming

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RE/MAX Mumbai Gujarat Maharashtra

6 Steps to getting started

1. Get your current list all in one place.2. Make contact the way you usually do.3. Go ahead and categorize by how you know them.4. Develop your announcement content and send it

out.5. Plan ongoing contact and do it!6. Do some quick list-building activities.

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FARMING

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RE/MAX Mumbai Gujarat Maharashtra

A Farming System:

1. Keeps your sales volume consistent.

2. Avoids burn out.

3. Increases your income.

4. Offers you a better quality of life.

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RE/MAX Mumbai Gujarat Maharashtra

• Neighborhood farm• Look for Good Turnover• Know Your Competition• Consider Distance• Give away and send out items of value

– Magnetic business cards or calendars– Promotional flyers or postcards– Notepads– Just listed/just sold cards

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RE/MAX Mumbai Gujarat Maharashtra

– Free market evaluation certificates– Emergency (police, fire) contact phone numbers on a magnet or a

letter opener– Magnetic memo pad

• Effective mailers

• Results of farming

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DIRECT RESPONSE MARKETING

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RE/MAX Mumbai Gujarat Maharashtra

To be effective:

• Targeted

• Measurable

• Personal – you know who gets it

• Testable – test headers, copy, color

• Flexible – you can change it easily

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RE/MAX Mumbai Gujarat Maharashtra

• Direct mail campaigns– Identify your objectives– Sell benefits not features– Include an offer. Give your prospects a reason to respond—now– Personalize– Keep it simple– Always include a call to action (CTA)– Include a response device– Deliver– Use targeted lists– Track and measure your results– Mention your offer immediately – Show a picture – Feature words – Use testimonials

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RE/MAX Mumbai Gujarat Maharashtra

Ideas for brochures and information pamphlets

• How to Sell a House That Didn’t Sell

• Easy Fix-ups to Sell Your Home for the Best Price

• First-time Buyer information booklet

• Home makeovers that every seller should know

• Relocation Handbook

• Buyer’s Guide / Seller’s Guide

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EXPIRED LISTINGS

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FOR SALE BY OWNER (FSBO) SYSTEM

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AD CALL SYSTEM

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OPEN HOUSES

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RE/MAX Mumbai Gujarat Maharashtra

• Why Open Houses are Important

• Open House System

• Open house checklist

• After the Open House

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THANK YOU