How to Find Prospects in Real Estate

In prospecting, there is such a thing called, ‘Cold and Warm’ market. The cold market refers to people you do not know and have no relationships with. Warm market, on the other note, applies to your family, friends, colleagues, neighbors, and acquaintances. The question is, does it really matter? Some sales agents swore by starting with the ‘warm market’, since they are most likely to give a friendly ear. Others, on the contrary, states that it is wiser to focus on the ‘cold market’ as there are no relationships at risk. Both are true but it all boils down to the agent’s manner of approach.

Warm Market

The warm market list consists of friends, family, neighbors, co-workers, and acquaintances. They are a significant part of a trader’s life and business, so in order to grow profit without hurting relationships, a sales agent must take extra precautions. They may not consider your proposal at first and might even disregard your ‘money talk’. So, it is better to opt for subtle selling to avoid compromised relationships.

Cold Market

Although cold approaches tend to lead to higher possibilities of rejection, it can also feel easier than warm ones. Since you are interacting with strangers, a sales specialist doesn’t have to experience rejection from people they actually know. It is also easier to define if a prospect truly needs the service you are offering.

2. Sort your prospects

A longer list doesn’t always equate to better results. In the art of probing, an individual must keep in mind that a quality list will always win over a more sizable one. But how does one identify a quality lineup? A target client base is classified to be a potential lead if they are already in search of the service that the company is offering and if they have the budget to pay for the product. By sorting prospects, a sales specialist can maximize his time and see better results in a shorter period of time.

3. Create a foolproof script

In real life, a trader only has 10 seconds to get a hold of a prospect’s attention. This doesn’t only apply to cold calling, but to open presentations as well. When a sales agent is prepared, they are able to express their point accurately and even have room for extra tactics.

4. Enrich relationships

When interacting with a prospect, a sales specialist has to build a positive relationship from scratch. Prospects are more likely to be convinced if they were to hear real feedback from previous customers, so this makes testimonials and referrals very valuable in a transaction. Aside from that, once a sales agent has a customer, they should ensure that they preserve the client’s interest in their product/service. By enriching the relationship with and keeping in touch with them even after the purchase, they can appreciate the service that awaits them in the future.

By sticking to these simple guidelines, you can now confidently explore the real estate market. Once you’ve mastered the art of prospecting, you’ll be counting leads in no time.

Olivia Coore is a catapult of ideas waiting to explode. She basically writes about anything she finds amusing; may it be a new found hobby, a recently opened coffee shop, visiting a new place, life goals, documentaries, investing either in personal affairs, such as experience, skills, and travel, or in general trade like real estate, stocks, career and business opportunitie

Posted in Uncategorized | Tagged , | Comments Off

7 Things Every Real Estate Specialist Should Have In Their Bag

‘Show me what’s in your suitcase and I’ll tell you who are’ is by far, one of the most important aphorisms in the corporate world. You can tell a lot about a person by what they carry in their suitcase. Just think of a person’s suitcase as a reflection of his proficiency and also an extension of his personality. Is his luggage organized? Is he rigged for out of the blue situations?

Now, in order to make the everyday lives of every real estate professional easier, we’ve rounded up 7 essential items they should keep in their bag. This guide will not only aid them in every battle the world throws at them, it will also keep their suitcase organized and clutter-free.

1. Planner and pen

Believe it or not, even in the age of smartphone calendar apps, scribbling down reminders is still the best way to go. Why? Apparently, jotting down reminders takes less energy and effort than opening multiple windows in your smartphone. And besides, a study has shown that writing can boost your memory and help you remember what you’ve written.

2. Mobile Phone

Through the years, mobile phones have evolved from being an item of leisure into a total necessity. This breakthrough in technology has altered and broadened our means of communications. Today, transactions with potential clients aren’t only made through traditional phone calls, it can also be closed through multiple social apps, including emails, Viber, Facebook, Skype, and more. So, be careful not to leave it at home, someone really important can be calling, Skyping, messaging, or emailing you right now.

3. Business Card

Despite everything going digital, swapping business cards is one of the practices that remain better when done in the traditional way. Aside from being an effective marketing tool, this habit also shows a lot about a real estate specialist’s competence and mindset. Exchanging contact information through business cards feels more personal than digital methods. It also creates an impression of your brand and shows that you are prepared.

4. iPad, laptop, or sales kit

Every real estate professional knows that having a laptop or iPad is crucial to the job. Clients are visual creatures; they like to see what you will give them for their money. With this, you should make sure that you have a striking presentation to introduce to your client. If a laptop or iPad is out of your budget, don’t fret, a clear copy of your sales kit can also do the job. Just make sure that it is presented in a neat and organized manner.

5. Flash drive

Keep your files safe and secure with the help of this innovative, multipurpose tool. Aside from securing and backing your data up, a flash drive can also come in handy in unpredicted situations. Need a copy of the newly launched condominium’s AVP? Is your client looking for a printed copy of the computation sample? Have no fear, your handy flash drive is here!

6. Extra Cash

Being in the field of sales, you already know to expect the unexpected. Out of the blue situations are already part of your daily routine. Whether your client wants an espresso or you need to take a cab to the next city, you are entitled to spend extra moolah in order to flourish your investment.

7. Grooming Kit

In order to achieve success in your career, you must be prim and confident. And to portray a pleasant image and radiate confidence, a real estate professional should be conscious of his or her grooming habits. Like what I’ve mentioned in my previous post ’5 Power Grooming Secrets Every Real Estate Professional Must Know’, your physical appearance is crucial to the job. You are going to be judged the minute you walk into the room, even before you get the chance to speak and prove your competence. So, to make a positive impression, make sure to keep a grooming kit in your bag. Its content should include everything from breath mints, oil control films, to hair products. As the saying goes, ‘Dress for success!’

With these essentials in your bag, rest assured that you’ll be able to take on whatever challenge the world (or specifically speaking, your client) throws at you. So, rearrange your work bag today and equip yourself like a professional real estate specialist.

Olivia Coore is a catapult of ideas waiting to explode. She basically writes about anything she finds amusing; may it be a new found hobby, a recently opened coffee shop, visiting a new place, life goals, documentaries, investing either in personal affairs, such as experience, skills, and travel, or in general trade like real estate, stocks, career and business opportunities. She hopes to find meaning in everything she does and makes her learning available for others to take inspiration in. She is currently working as a Senior Director of Correspondence at an investment firm in Miami, and believes that the best stories are always found between the pages of a passport.

Posted in Uncategorized | Tagged , | Comments Off