menu

close

Prospecting Your Sphere

All indicators are that the hot real estate market is about to get even hotter. With vaccinations being done at warp speed, a surplus of stimulus money being pumped into the economy, and the unemployment rate falling, the market in 2021 is going to be hot, hot, hot.

I’ve had conversations with presidents and brokers all over North America in the past week and they are all singing from the same song sheet … 2020 was a great year for real estate, but 2021 is will be even better. In the US alone, consumers have saved $1.5 trillion during the virus and with the additional $2 trillion stimulus being pushed into the economy, the real estate market is expected to become superheated. Prospecting for listings is your #1 priority right now. If you work with buyers, 2021 will be even more frustrating than last year.

The easiest place to prospect for listings is your sphere. You should be talking to your friends (I know of at least three of my friends who would likely entertain a move right now if a real estate agent would just reach out to them). You want to talk to your extended family, your past clients, dormant leads, social connections, and business contacts. Everyone in your CRM system needs a conversation. Notice that I said “talk to”, not send texts or emails. However, the challenge with calling your sphere is that these warm calls are conversational, they take longer, and it can be difficult to transition into business. We can’t just jump right to “do you want to sell your house?”

Here is a 5-step process for making prospecting calls to your sphere to ensure your conversations have intent and stay on track.

1

STEP 1: CHECK IN to see how they are doing:

 

  • It has been a while, how are you?
  • How is the family (kids, spouse, partner)?
  • How have you been navigating work during the virus?
  • How are your friends and family coping?
  • Have you done any projects around the house?
  • Now that you’ve spent so much time at home, if there was one thing you could change about your house, what would that be?
2

STEP 2: Discuss the MARKET:

 

  • It has been an interesting year in real estate. Despite the virus, the market has been great.
  • House prices have gone up substantially which means sellers are getting premium prices.
  • On top of that the historically low interest rates have made buying your dream house more affordable than ever.
  • With so much movement in the market, houses are selling quickly, which means there is little inconvenience if you decide to sell.
3

STEP 3: Discuss the OPPORTUNITY:

 

  • If you’ve ever considered moving, there couldn’t be a better time.
  • Not only will you get a premium for your house, but with interest rates so low, you can buy your dream home for an affordable monthly payment.
  • LET’S PRETEND … if you were to make a move, where would you move to? Why there?
  • What would you like in your next house that your current house doesn’t have?
  • Would you be curious to see what your house would sell for today?

 

If you get a NO, ask if they have friends who are thinking about making a move.

 

If you get a YES, skip step 4 and close for the appointment.

 

If you get a “MAYBE, BUT NOT RIGHT NOW”, move to step 4.

4

STEP 4: Create FEAR OF LOSS:

 

  • What if you knew by waiting it could cost you a fortune? Would you still want to wait, or would you consider moving now?
  • We have a window of opportunity to capitalize on current the current market, but it won’t last long.
  • Right now, you can get a great price for your house, and with interest rates so low, you can get your dream home for a lower monthly payment.
  • Once the economy recovers, interest rates will increase and moving will become more expensive.
5

STEP 5: CLOSE for the appointment:

 

  • With these perfect conditions, I think we should get together to investigate what a move would look like. What do you think?
  • I have time on Saturday at 1:00 p.m. or would Sunday at 3:00 p.m. work better for you?

Using this 5-step process will ensure your conversation is friendly but has intent. If you want to learn more about how to land more listings in 2021, check out https://leadersedgetraining.com/virtual-training.

Chris Leader
President
Leader’s Edge Training

Back to All Posts