Could your business use a shot of adrenaline? While some prospecting strategies (like farming) tend to work best over the long-run, other prospecting strategies can inject an extra deal or two into your pipeline immediately.
Here are five of the best ways to generate immediate business:
#1 Old Leads
Every agent has them. They’re the internet leads who never responded or said they were just looking. They’re the buyers you showed one house before they disappeared. They’re the sellers who reviewed your CMA and decided to list when the market improved.
Dig up the leads you received in the last 6-12 months who didn’t buy or sell with you. Then call, text, or email them and see if they’re still in the market. You’ll be surprised how much potential business is there.
#2 A+ Sphere
The A+ people in your sphere of influence are the ones who refer to you the most. If you haven’t spoken to them recently, give them a call or invite them to lunch. Let them know you’re always looking to help more people and you’d appreciate it if they’d keep their eyes and ears open.
#3 Referrals to Others
Referring business to others is a powerful way to generate business for yourself because of the rule of reciprocity. The rule says those who receive your referrals will want to pay you back in kind. The more business you give out, the more potential business you have coming your way.
#4 Seller Open Houses
Most agents assume open houses are for buyers, but they can be effective for finding sellers as well. The key is to have a separate “neighbors-only” open house about an hour before you open the house to the general public.
Start by inviting everyone from the neighborhood to attend. Offer them the opportunity to get a sneak-peak at your new listing, meet or reconnect with their neighbors, and enjoy some snacks. Then mingle with the crowd and listen for hints one or more of the attendees might be considering selling.
#5 Current Clients
Your current clients are eating, sleeping, and breathing real estate. They’re talking with family, friends, and co-workers about their home search or home sale. They will be the first ones to know if someone in their sphere of influence is looking to buy or sell.
If you wait until transactions close before asking for referrals, you’re limiting your opportunities to receive them. Instead, ask for referrals at key points during the process such as when an offer is accepted or a contingency is removed.
P.S. – Although the A+ people in your sphere are your best bet for immediate business, don’t forget about the A’s, B’s, and C’s. Picking up the phone and talking to people you know always has the potential to generate leads.