Last Updated on April 7, 2017
What has Terry Hassett learned about prospecting after 31 years in the real estate business? Here he presents his top-ten list for low-cost prospecting that brings results.
Here’s Terry’s description in his own words:“I recently read an article advocating the economical benefits of knocking on doors for business. As a professional salesperson, this can be a great source of new business, or a skill-building exercise, but cold doors are not the most productive use of our time. Here are 10 low-cost strategies that make better use of that valuable time…
- Call Your Sphere of Influence. It’s easy to stay connected during a transaction, but connections can fade easily when you get busy. Call to stay in touch, see how things are going and ask if they need anything. Add names as you go.
- Visit Your Sphere. This is effective if your sphere member owns a business you can call on, but also fills time voids on evenings and weekends. Face time is valuable, if only for a minute, just to drop off an item of interest or a small gift.
- Visit For Sale by Owners. Get to know these sellers and their inventory. Offer assistance in a no-pressure atmosphere as a way of learning the inventory and helping them with their purchase when they sell.
- Visit Newly Expired Listings. If you are an expert in a given area, you can let potential sellers know this. If you happen to be in the neighborhood, you can introduce yourself.
- Visit Local Builders. Getting to know your builders is a good way to meet people, learn the market, and obtain listings.
- Visit Your Geographic Farm Area. Introduce yourself properly to your selected farm and make regular, repeat visits with a purpose. As you go, you can visit the For Sale By Owner’s and Expired Listings also.
- “5×5“ Your New Listings and Just Sold Properties, in Person. Meet the neighbors. Find out who’s thinking of moving. Visit a minimum of 5 doors to the left, 5 to the right and 5 across. You don’t have to settle on 5…the more the better.
- Visit Local Small Businesses. Become a “regular“ and well known to the people there – in a positive light. Become a source of information for them and their clientele.
- Visit Landlords. If you see someone working on a rental property, stop by and introduce yourself, especially if it’s in your geographic farm. They may be your next listing.
- Mail Absentee Owners. This can be one of the most productive uses of a regular mail campaign in non-peak meeting times.