Why We Should Rename It SMP (Social Media Prospecting)

by Brian Brady

Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL

Author website

I asked if SMM were dead as a precursor to our session with the Phoenix Association of REALTORs.   A few of y’all mentioned that social media was helpful as a lead generation tool.  I suggested this yesterday and  I want to be perfectly clear about the utility of social sites as lead generation pools.

Serially creating overly commercial, spammy messages on your Facebook status bar is never going to be effective.  Kelley Koelher once said in my Unchained session that you’re supposed to be SOCIAL on social media.

I don’t disagree.  I often liken your behavior on social media like a party, wedding, or community event.  If you showed up to cousin Fred’s wedding and handed out your business card, you should be tossed out on your ear.  If  bride Wilma’s sister asks you “What’s the market doing ?”, it makes sense for you to get her number and reconnect with her a week later.

Now, more than ever, prospecting is paramount to success as a REALTOR.  Consider this video of Gary Keller and Jay Papasan, discussing the shift from marketing to prospecting.

Here are my takeaways:

1. the 8 X 8 is about cementing a relationship.  These can be phone calls, interactive comments on social media sites, e-mails, and postcards.  I think 3-4 different forms of media touches hardens the relationship cement quickly
2. the 33 touch is about saturation.  I can’t stress enough that you must have permission to continue this saturation strategy on a prospective client
3. The monthly newsletter is a non-threatening way to buy brain cells.  My yellow postcard might only be read for the 8 seconds it takes to go from the mailbox to the wastepaper basket but it does get read.  I get calls from it.
4. The principles of direct marketing are more important now than ever. This means that you should ask people questions…directly (eg- do you know any teachers looking to buy their first home?)

How do social media play into this strategy? Here’s a Facebook tactic:

1. Call everyone on your “friends list”
2. Ask them who their REALTOR is in (your town)
3. If they have one, politely move on.  If they don’t, ask if you can adopt them.  If they don’t live in (your town), inform them that you know they’ll refer someone to you one day and want to be know as their (your town) REALTOR
4. Look at their “friends” list for someone whom you find interesting; ask for an introduction

Does that sound creepy? Well, that’s sales, folks.  Lead generation is the MOST important part of your job.  Keller and Papasan suggest that 3 hours of your day be dedicated to lead generation daily.  Can you imagine how supercharged your business would be if you took their advice and optimized the social media contacts you spent years developing?