Prospecting, the search for potential customers is well known. Prospects by any name are simply leads–customer leads. Many marketing activities can generate leads, yet all leads are not equal. Before you start prospecting it’s vital to know who you are searching for.
Who is your customer? Create a customer profile for your ideal and borderline customers. This profile is based on who purchases similar homes or what neighborhoods they live in. Why do they purchase certain homes. Does the house fill an emotional or physical need or want? Where and how do they make purchase decisions? Identifying other demographic information is helpful such as gender, age group and median range. Knowing who to prospect is key.
One of the most common methods of prospecting is to purchase leads, or lists. Agents should not overlook this proven method. Lists are plentiful and available locally as well as on the internet from list providers, mail houses, printers and even trade journals. However, it is important to find a reputable lead source. You can develop your own list as well. Newspapers, magazines, phone books, trade directories and your neighborhood are full of leads.
Many real estate agents share the same potential customer and will use nearly identical forms of lead generation. However, some agents may be more specialized or competitive and require creative approaches.
Do-It-Yourself Prospecting
Obtain and develop your own list of potential customers by giving away free information, a consultation or a gift. Announce your free offer through:
* Advertising (print and online)
* Direct mail
* Word of Mouth / One-on-One contact
* Cold calling
* Your Web site
You’ll be well on your way to having all the customers you can handle.
{ 3 comments }
I think the best part of this article is the line: “…by giving away free information.”
I work with a lot of buyers who simply want answers to their questions. Most agents want a commitment first, then will provide information. I always answer questions first, and that usually gets me more commitments from clients.
Put yourself in their shoes. Give them something of value, and they will work with you.
There is usually a way to send bulk mail to groups of people within certain income brackets locally. In example, there is a local magazine that is sent free to all residence with a household income over $100k. If you are looking to specialize in listing luxury homes, advertising in that magazine might be a good place to start.
While I think that buying leads can get you names, it also often gets you leads that are not “qualified” as you would say. A better source of generating leads in this day and age is to use social media.