A follow up email with a question:
You have mentioned to me a couple of months ago on the phone to give 150 people that I know something that would make me go “thanks, that is a cool gift”, and right before I leave turn around and say “oh by the way I am in real estate if you know of any one who wants to buy or sell property, give me a call” (Something around that format). This I idea that I came up with would be giving the a TEN dollar gift card from TIM HORTONS. ( Big Coffee Province loves this coffee) because almost every person in Ontario goes to Tim Horton’s Coffee shop at one time or another.
Do you think that this gift would work for what you are talking about? How do you feel about the amount being spent on the gift or is there a certain amount you should spend?
Do I think it is a good thing to drop off to a hundred people you hardly know? No, not really. Here’s why, first you would – at $10 each – be paying about $1,500
and a prepaid coffee card would have a very short shelf life.
The list I am talking about is anyone who would recognize you on sight. Not a list of people who have sent you business in the past. For a short list like that, do I think a prepaid coffee card could be a nice thing to give them? Yes, absolutely.
What you are looking for is something that might wind up on their refrigerator or bulletin board. Something that a person might want to keep – someplace they can see it, so they could easily find and and refer to it. Some kind of list. Restaurants, movie theaters, sports events, anything that you would be happy to get. Surveys are the key to stats (what do they really really want?) so normally I would want to find out the answer to that question first. But the person I am “doing the survey” on, in this case, is you. The reason? I want you to feel like it is a good thing when you pop by to drop one off. The entire purpose of this is to get you in front of people. Face to face. They can see you and see that you are a nice, honest person. The list you have compiled and had printed also has your name, number, etc., along with your photo (current only, please). You are reminding these people that you are in the real estate business and a nice person. Your “value proposition” isn’t that you have something free to give them, it is that you are a nice person. If they already have someone they feel “obligated” to they may not be a very good prospect just now. At all. One question that can be asked is, “If you knew someone who wanted to buy or sell real estate do you currently have someone you would refer them to?” You aren’t trying to get anyone to change their mind. You are looking for people who are not “attached” who sort of know you. What you factually would be doing is instead of making cold calls, you would be making warm calls. The dollar value of the handout is very close to zero. The point isn’t to give them a gift, it is to get you face to face with them.
Maybe one of these people you go to see will have a real estate need. Maybe not. But go see a hundred people and you will get enough business to keep you very very busy for quite some time. Variations on this are the primary way most agents get all of their business. The only two ways to get business are marketing or prospecting. If an agent isn’t marketing (translate: spending significant money up front to get business) they are prospecting.
The main thing that “tricks” agents is time. There is a lag of 30 – 90 days from the time you do the effective work and when you get paid. What you do in the next few weeks will determine your income for July. Your April income was most likely determined in January or February. Top agents either have a geographic or a demographic “farm”.
Do not expect or feel disappointed if no instant result. Just go right on popping by and happily seeing people. Don’t stay long. Ever. Leave them wanting more. The cycle is QUANITY, QUALITY, VIABILITY. At this point you are only working on the QUANITY part.
Wayne Long says:
You definitely need to go see people and mingle. They need to have you in their mind. I think the Real Estate conversation will come up naturally.
I don’t think you have to have the “oh by the way I am in Real Estate” hook. That has always seemed pretty hokey to me. JMO
For something to put on the refrigerator – we like sports calendars. We send out a Nascar, Braves Baseball, and SEC football calendars as we are in Georgia. Almost everyone likes one of the sports.
April 10, 2008 — 4:32 am
Glenn says:
ROFL – the graphic is definitely something that most men would use at least once a week. But I did hear that it has a useful life of six months. Wondering what you might come up with for the ladies. LOL
April 10, 2008 — 11:58 am