How to Prospect Effectively in the Montana Real Estate Market
Prospecting sets the foundation for your real estate business. You need constant prospecting every day to sustain the flow of clients to reach your income goals. It involves making lots of contacts, tracking and organizing, and developing leads. But prospecting is not only about contacting current buyers and sellers. The contacts you make now could one day move or decide to buy. These contacts are also a good source for referrals. They may not need an agent right now, but they may know someone who does.
- Set Goals: How many leads do you need? Some experts calculate agents need 25 contacts to generate 1 lead. Determine how much business you need to do, how many leads that will require, and how many contacts you need to make to yield those leads.
- Plan: Then draft a schedule. Plan on spending two hours a day prospecting.
- Best Approach: Identify the best methods, times, and places to make the contacts you need. In person networking is more effective, but online tools are a great way to get started. Develop the best approach for your goals. Direct or indirect? Cut to the chase or build rapport? Try different approaches to determine what’s most effective.
- Targeting: Narrow your target. Focus on a specific market, client, price range, and property.
- Track Progress: Keep track of what works and what doesn’t as well as which markets or people are more receptive. Adjust and improve your prospecting plan as needed.
- Attend events and seminars, join groups, and go to local meetups.
- Get involved with local businesses and charities and let everyone know you’re a real estate agent.
- Work your sphere of influence and client database hard. Follow up, stay in touch, offer freebies, remember birthdays, and ask for referrals (in person).
- Turbo charge your social media and email marketing to remind people that you’re an effective, reliable agent with local knowledge.
- Target other agents. They’d prefer to work with agents they know, trust, and like.
- Give out lots of business cards. Walk through the major commercial neighborhood and introduce yourself, chat about the local market, and hand out your card.
- Do and attend open houses. You may find lots of unrepresented buyers.
- Share Your Knowledge
- Target FSBOs
- Follow Up