Post-License Ch3 Summary Notes

Prospecting is an ongoing task.

• You can build a steady stream of income
• A happy client who’s willing to refer friends and family to you is absolutely priceless.

The best place to start prospecting is with family and friends. Include people like your insurance agent, dentist, dog groomer, and hair stylist.

A Center of Influence is essentially someone who can connect an agent with other people who need an agent. Sit down with the yellow pages and read through the categories. Before you start making phone calls, consider

writing out a script.

When you get referrals, it’s important that you contact them quickly and follow up with the people who gave them

to you.

• It shows that you’re professional and timely.
• It puts your name in front of that person again
• It shows respect and appreciation.

The current law prohibits you from soliciting anyone whose number appears on the Do Not Call list. However, you can call someone:

• With whom you have had a business relationship.
• For up to three months after someone inquires about your service
• In response to real estate signs or advertisement

When calling, you must immediately identify yourself, the company you’re representing, and the reason for your call. You cannot block your name or number or give false or incomplete information.

Advantages

• You can make several calls in a short period of time
• You can peak the person’s interest in helping you reach your goal.

Disadvantages

• Many people may hang up quickly.
• It’s not as personal as face con

Dress professionally when you go knocking. If you have a name tag, wear it. Have business cards with you.

• Keep your visit brief – just like when you make phone calls.
• Plan your outings at times when most people are home – early evening or Saturday morning
• Plan trips to neighborhoods where retired persons live
• Use a reverse telephone directory to get the names of residents so that you can address them by name

For Sale by Owner (FSBO)

• Set a friendly tone.
• You’re responsible for knowing your market. FSBOs are part of your mark
• By touring the home, you can decide if you want to list the home or
• Be prompt. Don’t keep the homeowner waiting.

Generating Leads

·                   Rental Ads

• Wedding and Birth Announcements
• Promotions and Job Transfers
• Legal Notices (Foreclosures, Divorces and Bankruptcies) Reasons not to start calling a seller on the day the listing expires:
• Other agents will be trying to get to this seller too.
• The listing hasn’t been updated in the system ye
• It can come across as desperation

Give the sellers some breathing room.

• Offer to help and to put together a short market analysis.
• Be willing to go and view the home and offer your professional opinion

Pros

• They have shown that they’re willing to work with an agent
• They have a general understanding of how the business works.

Cons

• They’re likely to be frustrated because their home hasn’t sol
• They may have had a negative experience with their previous agent

By commenting on the action and not the agent, you’re showing the seller that you’re a professional, and also that

you know what it takes to maximize a listing’s exposure.

Farming

• Start paying attention to the real ads that you receive in the mail.
• Keep the area manageable.
• Walk through the neighborhoods and get familiar with the area on a street level.
• You should contact your farm once a month, via postcard, newsletter, or some other printed material.

Advertising and the Internet

Using your site to sell yourself can help generate new leads for you. It’s important to have pages on your site that contain information that will interest both buyers and sellers.

• The standard size of a web banner is 460 x 60 pixels.
• The main page of your web site should have a warm, professional welcome message from you.
• The top of your e-newsletter should have your company name and logo and your name and picture – use pictures and

You can get leads to potential buyers and/or sellers from:

·                   Local Chamber of Commerce

• Builders
• Open Houses
• Current Sellers
• Former Buyers

Community involvement can be a win-win situation for both you and the community groups you serve.

Once you have information on a prospect, you will need a way to file or store it so that it will be available to you when you want it.

Set a goal to have one listing appointment every day.

• Set a definite date, time, and place for the appointment
• Make sure everyone who’s involved in making the final decision is going to be there
• Make sure your meeting will be free from interruptions.
• Know the seller’s motivations and expectations.

Post-License Ch3 Summary Notes