Developing Leads

Sales MeetingJanuary 19, 2011

Video

Real Estate Conversation with Tom Ferry: Lead Generation

Be Proactive!

• “Lead Triad”– 3 sources of leads generate 15% of your

commission revenue• Web Prospects, Expireds, FSBOs, orphan

clients, REOs, farming, past client/sphere of influence categories

• Review last 12 months of transaction sources– Do you have a lead triad?– Do you rely too much on one source?

Look Close to Home

• Family• Friends• Contacts• Acquantances• Most people prefer to

give business to somebody they know!

• Ask these people for referrals too!

Get Out & Network!• Look for relevant trade shows!

– Coming Up:» March 6, Home & Garden Expo (Qwest)» April 30, Health, Wellness & Fitness Expo (MAC)» October 12, Buy the Big O! Show (Qwest)

• Neighborhood Association Meetings• Rent a booth at a local festival and collect business cards in a bowl• Give a talk at the local business hotel and invite people from the Chamber of

Commerce to attend• Consider that social membership at the country club/golf course. • Don’t forget to network with fellow REALTORS as well.

Sales Lead List

• The RedX– Expired Listings from MLS– FSBO’s

• Look for the ability to narrow your target as much as possible

• Take time to develop relationships with the people on the list

Vary Your Method of Contact• Today we have a greater

variety of methods to reach a prospect than ever before.– Direct mail – Telephone (voice and text),

e-mail, social networks, and still others.

• Begin with method you excel at, then adjust for client

• Use at least two means of communication before you determine the lead unreachable.

Appointment Setting

• An appointment is: any meeting that will positively impact your business– Sitting face-to-face with a motivated seller (listing

presentation) – Working with a buyer who wants to buy – Previewing a motivated For Sale By Owner – A face-to-face meeting with a Past Client, a Center

of Influence or anyone who can refer you business

How would your business be impacted if you went on at least one

great appointment each work day?

7 Techniques for Setting an Appointment a Day

1. Focus Daily on Setting Appointments2. Create A Definition of an Appointment that Serves

You3. Affirm That You Set Appointments Daily4. Carry Your Best Leads with You At All Times5. Know Your Automatic Shot6. Learn 5-7 Basic Closes to Improve Confidence7. Be Unattached to How and Where Your Next

Appointment Comes From

Determine the Value

• Use the internet to learn more about leads before you make contact

• Always, Always make a minimum of 2 contacts before you disqualify a lead!

• Prospects=Work– Don’t give up just because you feel it would involve too

much effort! • NAR 2009 study on home buyers:

– Nearly 70% of all buyers only interviewed with one person prior to determining who to work with. By making a phone call, you have a 70% chance of getting a new client!

Categorize the Lead• The Friendship Trigger - Activates both trust and agreement through bonding on a

social level• The Authority Trigger - Activates acceptance through expertise• The Consistency Trigger - Motivates consistency with past actions and repeat

contacts. – Follow up! Follow up! Follow up!

• The Reciprocity Trigger - You give, you receive. – Use the services and businesses that your clients own or work at...and they will do the same for you.

• The Contrast Trigger - Side by side comparisons of options to make one more attractive than the other.

– Listing presentations, Financing options, CMA, etc

• The Reason Why Trigger - Emotional reasons to make decisions and actions. • The Hope Trigger - Instills positive expectations to help persuade one side of an

argument.

Follow Up• Goal: Book an appointment

– Always ask for the appointment! The worst they can say is no.• Before calling back, consult a script that will help you identify

their needs and motivation, and set up a face-to-face appointment.

• Be helpful and nonthreatening!• Make a targeted offer that provides a benefit to them for very

little work– "Would you like to receive a daily list of homes that match your

criteria?" • "Great, if we can get together for about 15 minutes, I can listen to exactly

what you're looking for so that we don't miss out on the perfect home. When is a good time to get together, days or evenings?"

6 Qualities Every Follow-Up System Needs

1. Organization2. Originality

Send a yearly card reminding:• The golfer about the day he shot a hole in one• The day the client’s daughter won at the school track meet• The date of the Kentucky Derby for a horse racing fan

3. Frequency • Surveys show that the most common reason people don’t stay loyal

to agents is that they can’t remember their name. 4. Timeliness 5. Consistency 6. Longevity

• Take a long-range view of building referral business. Continue to send contacts information as long as their addresses remain valid.

Bright Ideas:Keeping Customers for Life

1. Give a battery-operated smoke detector as a gift, then supply a new battery once a year as reason to follow up.

2. Build a special referral database of your area’s top 50 salespeople and develop a regular contact program with them. Once they know you, you can market your listings directly to them.

3. Print “Just Moved” postcards that have clients’ and customers’ old and new addresses, as well as your logo and contact information, as a closing gift.

4. If you see a local business for sale, follow up to see if the owner is also thinking of relocating and selling a home.

RealtorMag.com

Promotional Marketing

Best Prospecting GiveawaysSlideshow

Focus

• Focus daily on…– Finding your next

appointment– Going to another

appointment – Servicing your clients

• You have to make the decision that lead generation is a priority 12 months of the year

Questions/Comments