Residential Real Estate - How to Attract More New ClientsCategory: Business
Article added by: Hossam Abdel-Kader
Doesn't it seem like everyone you know has a friend, relative, oracquaintance that is a realtor? How could anyone, especiallysomeone new to the industry, possibly achieve success when facedwith this much competition?
The answer begins to appear when you consider the followingquestions:
* How many licensed real estate agents have the TALENTS required for success in sales?
* How many have been trained in EFFECTIVE SELLING TECHNIQUES?
* How many know how to PROSPECT effectively?
* How many know WHICH QUESTIONS TO ASK to determine the factors that are most important to each prospect's buying decision?
* How many take their profession seriously and are WILLING TO PUT IN THE EFFORT AND HOURS that are required to build a successful business?
* How many of them regularly SELL MULTIPLE HOUSES PER MONTH?
The 80/20 rule definitely applies to residential real estate. Infact, some statistics suggest the ratio is more like 90/10 (where90% of home sales are made by just 10% of realtors), with thevast majority of home sales by the top 1%!
So, how can a novice realtor attract clients? By building his orher CREDIBILITY and RELATIONSHIPS. Let's explore these two topicsseparately.
How to Build Credibility
Imagine you are a brand new realtor that has just passed thelicensing exam. Why would someone turn to YOU to help them makewhat may be the largest investment of their lifetime? What makesyou stand out from other licensed real estate agents?
If you are new to the profession, you won't have success storiesor testimonials to point to as answers to these questions.However, there are many things you can do to build yourcredibility quickly. Here are a few examples:
* You can perform in-depth research on a specific aspect of your local real estate market and write a "white paper" or "special report" to share with prospects. Examples of potential topics include "The Hottest Markets In (a specific area)", and "Resale Home Prices for the Past 12 Months In (a particular community)".
* You can compile a "New Resident Resource List" that educates your prospects on local stores, service companies, fun activities, family-friendly restaurants, etc.
* You can write articles and deliver free speeches or seminars that are based upon the results of your research.
There is tremendous power in AUTHORSHIP. If you can place usefulinformation that has your name on it the hands of potentialprospects, you will earn credibility.
How to Build Relationships
A good starting point is making sure everyone you know (friends,family, acquaintances, past business contacts, etc.) is awarethat you have become a licensed real estate agent. It doesn'tmatter where they live -- who knows when one of their friends orassociates will decide to move into your target market? The bestapproach is a simple, "soft sell" message such as, "If you hearof anyone that might be interested in buying or selling a house,please let them know that I would be delighted to help them."
When you are sure that everyone you know is aware of your newrole, start pursuing NEW relationships. Don't limit yourself tocontacts that may themselves become prospects. Also look foropportunities to develop relationships with people that can REFERprospects to you. This includes:
* Mortgage brokers
* Bankers
* Salespeople in non-competing sales roles (i.e., new home sales vs. resale)
* Property managers
* Corporate relocation managers
You can also pursue relationships with people that have largecustomer lists such as accountants, financial advisors, andinsurance agents.
Focus on getting to know your potential prospects and referralsources as PEOPLE. What do they do for a living? What constitutesan opportunity for them? What are their issues and concerns? Whatare their personal interests and passions?
If you constantly have your "radar" up, you never know when youwill run across a resource that could be helpful to someone else.If you focus on helping other people accomplish their goals andfulfill their needs and wants, you will be astonished by thenumber of referrals that come your way.
As you build your list of satisfied customers, you will be ableto expand your sales success through referrals and testimonials.However, the strategies described in this article will alwaysprovide a boost to your opportunity pipeline!
Posted By: Hossam Abdel-Kader
Web: http://www.pr-inside.com
Contact: e-mail
| About the Author: |
| Sales performance expert Alan Rigg is the author of How to Beat the 80/20 Rule in Selling: Why Most Salespeople Don't Perform and What to Do About It. His company, 80/20 Sales Performance, helps business owners, executives, and managers DOUBLE sales by implementing The Right FormulaT for building top-performing sales teams. For more information and more FREE sales and sales management tips, visit http://www.8020salesperformance.com. |
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