It's 2020, and believe it or not, there are agents out there who are still stuck in the old ways of prospecting (like it's still 1990)!
They keep prospecting, prospecting, prospecting! To them, everyone and anyone is a potential prospect!
And everyone needs their services, right?
What's so wrong about that?
Well, people don't like to be hard sold, but they love to buy!
Step out of your shoes as an agent for a minute, and imagine that you're out shopping for a new suit. You're in Paragon and you see a suit you like. And it's affordable. So now you feel like buying it. But then, suddenly a novice salesman pesters you to buy ties, even though you're not here to buy ties. What do you do? Do you run away when the promoter is too aggressively trying to sell you their new tie collection? Or you would attentively listen to his hard selling sales pitch, loving every single minute of it? You would run away as fast as possible!
Now, why can't those very same realtors, who run away from other hard selling salespeople, still do the same things to others that they wouldn't want others to do to them?! In other words, why do something to others that you don't like to be done to yourself?
Here's the problem with us agents; it's because we're still still stuck in the Old Mindset!
Despite advances in technology, despite the viral nature of social media and despite the massive adoption rates of mobile phones and an explosion in videos, at a time when even Primary school kids are on their mobiles, the average agent is still doing door knocking, cold calling and prospecting. Mindlessly. He's not leveraging those advances in technologies to get their message out to more people in a shorter time for less costs.
But it's not entirely your fault. Every agent and his upline is also doing this, so it's hard to break away from tradition. I certainly used to work like this when I was an active realtor.
What I Realised All Those Years Ago
Here's a secret I'm willing to share with you today: Pursued Prospects Run Away!
The first time I realised this was when I was still an active agent back in 2008.
I noticed that top agents like PropNex's Mohamed Ismail were never busy prospecting for new business; they were busy servicing their clients. That's why those happy clients referred them more often. When I had that 'aha!' moment, it made total sense to me!
Because I realised, the real reason I was struggling in those days was because I was a new agent with no experience, it was because I spent ALL of my time only prospecting! I was hardly servicing my existing clients, and therefore, I only did a mediocre job of that! Bye bye referrals...
The minute I realised that, my focus shifted! Instead of 'me! me! me!', I had to come from a position of giving!
And when that happened, I had a flood of prospects wanting to buy my listings!
The New Way: Reverse Prospecting
And this is the exact opposite approach to marketing; get prospects to chase you instead of you doing all the chasing.
By reversing the traditional, outbound sales approach, any agent can now attract hungry prospects to them!
No more door knocking! No more cold calling! No more canvassing?
So how do you get started with Reverse Prospecting? You do this in a number of ways:
- Offering a solution to a problem your ideal clients are facing right now, in exchange for their contact information
- Repackaging your realtor services in a way that makes it attractive to do business with you
- Positioning yourself as an information resource, rather than a hungry salesperson
Do that, and watch your inquiries and closings skyrocket without scrambling for buyers every time your agency has a new launch!
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