Keith Barrot

Effective Prospecting – Where do you Operate? (Second in a series)

Quite often agents spend their days looking for business in a manner that has evolved over time from their first days in the industry. While they have been concentrating on the day to day need to generate listings and sales little thought has gone into where they are operating. By failing to appreciate that for a long term career they need to look at this important aspect of their business.

There are many different business models in selling real estate and in any office these will be on show and it can be seen which one is the most effective. For example is it the agent who concentrates on an area, the one who goes anywhere, the specialist who only sells one style of property or a certain price range?

The most important factor in deciding where you operate is, will it give you the income you want and have the potential for growth. Without these two essentials all your time and effort will be wasted and the usual result will be the all too common approach to start chasing business where ever you can and spreading yourself too thin. This approach is ineffective for the longer term will cost more to service both in time and travelling from one area to another and more importantly become frustrating and drain your enthusiasm.

Effective-Prospecting

In deciding where you operate to a large extent will depend on which model you chose and what will suite your long term goals. You may decide to concentrate on the suburb where you live and have local knowledge, friends, contacts, and are well known in you community. You may find that from your data base, contacts, club memberships etc you know people over a wider area and this model will be more effective. Many agents are successful because they have particular knowledge or contacts in the building, development or subdivisions and develop their business in that area.

No matter where you decide to operate it needs to be understood that it must deliver the income you want and have good potential for future growth. Your prospecting will only be effective if it is consistent, promotes your brand, builds relationships and is targeted to the area you want to conduct your business.

Prospecting for business in the different models mentioned will require varied levels of investment e.g. a single banner press advertisement will be less expensive in your suburb compared to several publications if you are covering a larger area. This extra cost needs to be measured against sales results. The balance of reward for effort has to always be considered and what ever model of operating you choose a well thought out marketing plan, costed and programmed for at least twelve months ahead will put you on the path to success.

The reliance of the next sale coming from anywhere will only perpetuate the frustration in your work and the uncertainty of income we all want to avoid. Once you have decided where you want to operate, based on sound consideration of the potential, you can develop your business. Your prospecting will be more effective as it will not be the shot gun approach we see so many agents using today and will set you apart from the competition.

“Choice not chance determines destiny”.

If you have any questions regarding effective prospecting please feel welcome to post your question below or alternatively I can be contacted at www.sales-selling.com

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