“All the flowers of all of the tomorrows

are in the seeds of today.”-

Chinese Proverb

Real Estate Getting Back to Basics

Section 2 Prospecting 6

Unless you have all the business you can handle already and don't need any new clients, it's time to see how your prospecting savvy stacks up. Take this Quiz to find out. (Answers on pg. 8)

True or False

1.Salespeople should prospect only when times are slow.

2. It's OK to tell prospects you have a buyer for a certain type of house even if you don't have such a client.

3. One out of every five FSBOs eventually uses a real estate professional to sell their homes.

4. You can call your past clients for up to two years after the last transaction.

5. You can call a FSBO seller whose number is listed in the National Do-Not-Call Registry in an attempt to obtain the listing.

6 . Home builders often sell the homes they build themselves, so they seldom are a good source of business for the salesperson.

7 . Using codes to track the effectiveness of your prospecting efforts is the best way to determine which methods are most effective.

8 . Salespeople should stick to only one form of prospecting so that they can track the effectiveness of the

method more easily.

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Real Estate Getting Back to Basics

Section 2 Prospecting 7

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Answers to Quiz

1. False - What's important with

prospecting is to be consistent and do it every day. Don't wait until you need business. Many experts suggest prospecting one to two hours a day, either by phone or personal contact.

2. False - The REALTOR® Code of

Ethics forbids prospecting under false pretenses. Always be honest; if the prospect learns you were lying, you will lose all credibility. Instead you might say that you have had several buyers in the past who found a certain of house appealing and that it is a very popular style at the moment.

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Real Estate Getting Back to Basics

Section 2 Prospecting 8

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Answers continued

3. True - The 2000 NATIONAL

ASSOCIATION OF REALTORS® Profile of Home Buyers and Sellers found that 28 percent of FSBOs eventually used a real estate professional. Many FSBOs become frustrated because of the time involved in showing homes and the expense of advertising. They also may realize that the salesperson offers transaction knowledge that makes the sales process easier.

4. False - Any customer or client

whom you have an established business relationship with can be contacted by you up to 18 months after the last transaction, unless the person has requested to be placed on your company’s do-not-call list.

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Real Estate Getting Back to Basics

Section 2 Prospecting 9

Answers continued

5. False - A real estate professional is prohibited from initiating a telephone call to a FSBO seller whose number is listed in the National Do-

Not-Call Registry in an attempt to obtain a listing. The federal rules prohibit anyone from making telephone solicitations to telephone

numbers that are registered in the database, and a call initiated to obtain the listing falls within that definition. Real estate professionals,

however, can contact a FSBO if they are interested in buying the FSBO property or if they have a buyer interested in the FSBO property. But

the conversation should only be limited to the practitioners’ or clients’ interest in the property and cannot turn into a solicitation for the

listing.

6. False - Home builders are seldom experts in real estate sales and will usually welcome cooperative venture with an energetic salesperson.

Home builders often prefer to concentrate on building rather than sales. Learn more about construction and building terms before

approaching a homebuilder for business.

7. True - Tracking responses with codes are the most effective way to determine the success of your marketing effort. Be sure that you

determine the source of every response you get — calls, direct mail, walk-ins — and code them into a database for later analysis.

8. False - Cross-marketing — the use of mail, phone, and face-to-face contact to complement each other — is the most

effective way to prospect. Experts often suggest sending one to three direct mail efforts and then following up with a phone

call or a request for an appointment once you have built some initial name recognition.

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Calling Around a New Listing

Hello…my name is ________________ with _____________________ how are youtoday?

The reason for my call is that I just listed a great home in your area…the addressis _________________ it has _______ bedrooms _____ baths and is priced at___________________and I am calling all the Neighbors to see who you mayknow that would be interested in purchasing a home in the area?

I am curious…how long have you lived in the area?

I am sure that I will be generating a lot of interested buyers for your area…may Iask…do you have any plans to make a move in the near future?

(If they say no…respond with …no problem…who do you know that isconsidering buying or selling at this time?)

Where will you be moving to?

What is your time frame?

Do you want to be moved by_________________ or is that when you will be listingyour home For Sale?

I would like to interview for the job of selling your home…when can we gettogether to discuss what I do to get homes sold?

Calling Around a Sold Property

Hello…my name is ____________________ with ___________________how areyou today?

The reason for my call is that I recently Sold a home in your area…the address is_____________________ it has ______ bedrooms and ____baths and it Sold for__________________.

In the process of getting this home sold…we have generated some additionalinterest in the area…

I am curious…have you considered selling your home in the near future?

( if they say no…respond with…no problem…who do you know that is thinking ofbuying or selling at this time?)

Where will you be moving to?

What is your time frame?

Do you what to be moved by_________________ or is that when you will be listingyour home for sale?

I would like to interview for the job of selling your home…when can we gettogether to discuss what I do to get homes sold?