COVID-Sensitive Prospecting - Leaders Edge Training

Why is continuing to prospect so important right now?

For the last two months many agents have put their business on pause. This not only has a devastating effect on your income, but it has a devastating effect on your entire community. As a real estate professional, it is your job to keep the real estate wheels turning and break the gridlock. What you do every day helps the entire community. When you help someone buy or sell a house, you put the entire community to work. There is an army of photographers, videographers, stagers, appraisers, inspectors, contractors, movers and lawyers who only go to work when you sell a house. Without you starting the process, many other people are negatively affected. You have a responsibility to help keep your community moving and that only happens if you continue to prospect.

The question you are probably asking right now, is “how do I prospect while being sensitive about the pandemic.” After all, no one want to put anyone’s safety at risk. Most agents are used to generating leads from open houses and door knocking in their neighborhoods. Without having those available to us right now, we must resurrect some of the ways we used to prospect that have gone by the wayside.

One of the most effective ways you can prospect during the pandemic is by picking up the phone. Many of you may be thinking “Phone prospecting? That is so 1980’s”. During this time, this old practice is getting agents amazing results. More people are home than ever before, so using the phone to book virtual appointments is extremely effective.

WHO SHOULD YOU PROSPECT DURING THE CRISIS?

All leads are not created equal. You only have so much time to prospect. Where you focus your efforts determines your results. The real question is “where should you concentrate your efforts?” Start with the highest quality leads:

1

Sphere Calls
These are your friends, family and past clients who know you, like you and trust you. They are warm calls to check in and see how they are coping at home, what is happening with work and the kids, and how they are staying connected with others. Gently maneuver the conversation to real estate by asking if they have been doing any projects around the house. And always ask “If you could change one thing about your house, what would it be?” Follow it with “If you could make a move to a house that had that, is that something you’d be interested in exploring?”

2

FSBO Calls
These are hot leads because you know they want to sell. During the pandemic, trying to sell their house privately is more challenging than ever. The trick with these calls is to uncover their motivation. They most likely want to save money. You need to let them know you can help them sell for more given your marketing and technology. They are likely not aware of the added liability resulting from COVID, including COVID clauses and upgraded safety precautions. Bring this to their attention and let them know you have solutions.

3

Expired Calls (not in Canada)
This is another great source of hot leads because you know they wanted to sell recently but they were unsuccessful. Be prepared, they are going to have lots of questions about how to navigate this market given they couldn’t navigate the last one. That doesn’t diminish the fact that they still want to sell. The best way to entice them to meet with you is by offering to explore what you would do differently than their last agent.

4

Dormant Lead Calls
During the year, many leads go dormant. They may have originated from online or print marketing, open houses, door knocking, sign calls, ad calls or networking in the community. Your initial conversations may have been derailed for many reasons, but the fact that they were curious about making a move is promising. It’s time to get back in touch. Remind them of when you last spoke and ask if they ended up making a move? If they did, congratulate them and offer to say in touch with monthly market updates to start building a relationship for future business. If they didn’t move yet, inquire about what motivated them to want to move before (bigger house, better location, less maintenance). Find out if they are still interested and let them know it is a great time to move with the low interest rates.

5

Investor/Landlord Calls
Financial uncertainty caused by the pandemic will lead to good deals in the market. Some investors will want to sell their existing rental properties and others will want to buy more. Some will want in and some will want out. Call anyone who has a property listed for rent and ask if they would consider selling it. If not, ask if they would be interested in buying more rental properties if you came across good deals. Everyone wants a good deal.

6

Geo Farm Cold Calling
If you have a recognized name in a geo farm, these calls will be easier. Cold calling strangers is a numbers game, but if you have a buyer for their neighborhood, it is a good way to generate seller leads. One of your farms should be the neighborhood you reside in. The impact of your calls will be better if you can introduce yourself as their neighbor. But the truth of the matter is, you can pick any geo farm with a good turnover rate and if you make enough calls you will get listings. There are people who need to sell everywhere but they are holding off due to the uncertainty. You need to comfort them that you can help them make the move even during the pandemic.

Agents will postpone making calls until they feel they have the perfect scripts for what to say. Don’t fall into this trap. Pick up the phone, make the phone calls, be sensitive in your conversations, and you’ll be surprised how many leads you uncover.

Don’t strive for perfection, strive for progress.

If you don’t already have an existing relationship with the person you are calling, make sure you scrub their phone number again the Do Not Call List. Pick a time of day when most people would be receptive to having a conversation. Many people have kids at home, so mornings are chaotic. You will have better luck contacting people between 2-4 pm.

I hope this helps you with keeping your pipeline full during this unusual time.

Stay healthy and safe.

Chris Leader
President
Leader’s Edge Training