|
Posted: 23 Oct 2007
In my more than 25 years in the industry one question has always puzzled me: Why is it that despite being one of the most widely discussed topics at any real estate conference throughout the world, prospecting is the single biggest thing the sales agents don’t seem to be able to master?
I have been a regular attendee at most conferences in Australia and whenever the topic of prospecting comes up, I have noticed people nodding in agreement with speakers and writing notes in their work books.
The advice is always the same:
• I have heard speakers say that the most important appointment in the sales person’s week is the appointment to prospect.
• We are given tips on how to block out our time so we can prospect.
• We are told to reduce noise in the work place when we prospecting.
• Some speakers suggest we should go to the lengths of putting signs up around the office when we’re prospecting so we don’t get interrupted.
• It is now accepted that every top sales person must get a hands-free head set so they can enter information into the database and also be totally focused on their prospecting. This allows us to make more calls each hour.
We are given tips on who we should prospect, such as
• Follow up recent appraisals
• Hot sellers
• Past clients; 5 per day
• Open house attendee sheets
• Pipeline sellers
• Multiple sellers
• Top 20 buyers
• Expired listings/private sales
• For sale by owners
These are only some examples- I’m sure you have heard even more.
Some agents are given exclusive farm areas or business development areas to work. Principals spend thousands of dollars each year investing in technology and information systems to enable sales agents to better target their prospecting.
Do all these various methods, tips and ideas work? Yes, of course they do. There is absolutely no doubt that a well implemented, targeted prospecting strategy will lead to better results.
So, armed with all this vital information, why do most sales people struggle or outright refuse to prospect?
In my view there are two reasons:
The first is a fear of rejection. This is the most extraordinary reason given for not prospecting. We are in the business of selling. Rejection is a fact of life and if you fear rejection then this is most certainly not the career for you. Rejection will happen; you simply can’t win every deal. By not prospecting because you fear rejection you are actually guaranteeing yourself failure or a very mediocre career at best.
If you don’t prospect you don’t get invited to present your credentials. If you don’t list you can’t sell and if you can’t sell you don’t earn any income. You then get pressured by your principal, your partner, your family and you will end in far more pain than you would have experienced had you been rejected by a prospect.
The second reason I believe agents don’t prospect is because they aren’t comfortable or confident with their ability to overcome objections.
This one is quite amazing when you think about it. In real estate, the objections we come across are not all that varied. We could all probably list the most common ones in 3 minutes. However many agents, although aware of what objections they will come up against, rarely take the time to develop and practice the scripts and dialogues they can use to successfully overcome these roadblocks.
The fact that many agents don’t have the scripts and dialogues in place is even more intruguing when I think about the number of places where they can gain access to already prepared scripts.
Having the script is only one part of the equation though. You need to be confident in how you use it. My suggestion is that you take the time to practice it. Use your partner, your friends, and your peers or do it in front the mirror. Whatever methods you choose just do it!
So if you are looking for ways to improve your income I suggest that you don’t go in search of a silver bullet but rather take a long hard look at what you are doing in your business day to day. Have you spent enough time on developing a prospecting strategy that produces results for you? Have you taken the time to develop and practice the scripts and dialogues you need to be confident that you can overcome objections? If the answer is no then you know what you need to do.
Remember, prospecting is the key to generating the pipeline that will create your income so you simply can’t afford to ignore or avoid it.
Ross Hedditch.
|
