We've all heard from the guru's how we should prospect two to three hours a day. Uninterrupted. No distractions. After all, we are self-employed and need to ensure ourselves a steady stream of business in order to stay IN business.
Fair enough.
But for those of you who shudder at the thought of pestering strangers every day, here's a new approach, compliments of Loreena Yeo.
Loreena is my consulting client. She hired me to help her succeed in her real estate business. Per our agreement, I get paid for my efforts. But, with her insight and wisdom, she's helped me every bit as much as I've helped her.
Here's what I learned from her this week.
To give myself credit, I introduced Loreena to the concept of an SOI business model. And she's run with it. She is now the poster child for how to succeed in real estate sales by being a good friend.
How does Loreena prospect to her SOI? Well, you can check out her blog for lots of ideas. But the one that struck me this week was this...
Loreena spends her "mandatory" two to three hours a day prospecting time writing personal emails. Not calling FSBO's. Not pestering expired listings. Not cold calling her farm area.
She spends that time catching up with her friends. Via email, because she's a little shy, it's easier that way. Does she ask her friends for real estate referrals? NO WAY. Does she share her latest success story? I doubt it. She just does what we woman creatures do naturally. Communicate, nurture, offer compassion when needed.
Is it working? Oh yeah. Just ask her. She's crazy busy and her phone is indeed ringing. With business and referrals from her SOI.
Here's the best part. She estimates a 90% success rate. As in, 90% of the people she writes to write back. Do they have a real estate need or referral today? Probably not. But when they do, you can be sure they'll think of Loreena.
How does a 90% response rate compare with YOUR prospecting efforts?
copyright Jennifer Allan 2007
Absolutely RIGHT! I know so many agents that are constantly looking for the next deal from their marketing, open houses, or floor calls. All they need to do is keep in touch with the clients and friends that they already have.
Absolutely RIGHT! I know so many agents that are constantly looking for the next deal from their marketing, open houses, or floor calls. All they need to do is keep in touch with the clients they already have.
I'm going to do this as well. I need to contact everyone I can via email and get their mailing addresses, too - because in my effort to be organized I LOST MY ADDRESS BOOK!
I bought a new book at Christmas time, and faithfully and carefully copied all my addresses out of the old one that had seen better days. then, I threw the old one out.
Unfortunately, the new one got misplaced - and I have turned the house upside down trying to find it, without success.
:(
Anyway, that's going to be my next project - getting in touch with everyone I can.
That's an idea...I'll admit, I'm probably a typical guy when it comes to personal telephone calls and emails...I really just don't do them! I bet my typical telephone call lasts something like 20 seconds...
I"ll give it a shot.
R.B. "Bob" Mitchell
ValueList Real Estate Service, Inc.
Okay, here's my plan. Someone called today who was a former client of my husband's (he's a carpenter.) We were never what you consider chummy but I'd been to their home a few times and we always got along. I talked to her on the phone for a bit today, about church, kids, and finally I was able to work it in that I'm now working in real estate. Turns out she's interested in picking up some part time work cleaning houses or managing people's vacation homes (winterizing, opening up for the summer, cleaning, etc.) So I told her I'd keep her in mind and would appreciate it if she rememebers me if she comes across anyone needing an agent.
Now, the trick is the follow up. I'm going to send her a note next week saying it was nice to chat and hopefully we can do it again sometime.
This is where my failing is - in creating relationships with people on the "periphery" of my life - not strangers, but not close friends either. I'd invite her to lunch one day but I have no idea what we'd talk about and I'm afraid it would be awkward. ??
Anyway, we'll see where the note gets me. :)
Yeah, taking someone I don't know well to lunch would be hard and I wouldn't recommend it. Just stay in touch on a casual professional basis, put her on your SOI. Maybe the opportunity to be social with her will come up, in an environment that will be natural...
Yeah, taking someone I don't know well to lunch would be hard and I wouldn't recommend it. Just stay in touch on a casual professional basis, put her on your SOI. Maybe the opportunity to be social with her will come up, in an environment that will be natural...
Thanks for such kind words. I am extremely excited about the outcome. I have one thing to add:
When you care and think of your friends (or SOI), just drop them a note. Tell them that you are thinking about them. In this day and age where we constantly get spammed and marketed to, it's no wonder people find "target marketing" emails simply rude. But when you do have a heart to care about your friends (and SOI), everyone welcomes a "Hi" - How have you been note. And often is fine too.
That's just how I feel.
Jennifer,
SOI marketing is not only easy, it's fun. Make friends. Join in on community projects. Become a pillar of your own little part of the community. And, you'll be recognized as an expert to boot.
You're on the mark!
Tom Sinclair
About the House - Home Inspections
Fairhope, Alabama
(251) 990-3169
www.InspectTestAnalyze.com
Jennifer - what is SOI...?? i am a newbie and even without knowing SOI, i get the gist of it...... i think ;) ron
Jennifer, I like that. I am a newbie and and introvert. But I am getting good at hand written thank you notes and emails.
Ron-SOI=Sphere of influence is all your old contacts, friends, family, army buddies... I hope you get the idea. Your SOI can also get bigger as you make new friends.
Im gonna get back to doing that! I just need to sit down and make a comprehensive list of people that I do know.
thanks for the reminder!!!