Prospecting is the mining tool of a real estate deal. In Atlanta real estamarket, not only the number of properties but also the number of prospects is increasing. My initial months to bring up Luther Ragsdale and Platinum Real Estate made me realize the fact that it is your market reputation that saves you during market downtimes and brings more business during economic uptimes.
For combating the upcoming storm of tougher competition, make sure to prepare your tools and establish stable market reputation by adhering to the ideal real estate prospecting practices. A real estate prospect is like a brand – prospect’s market reputation is as important as brand reputation.
Your market values add worth to your real estate prospecting business and establish your market reputation. Market values are defined in terms of your business practices; how you make business and not how much business you make.
Here I have cracked the code of 3 best practices every real estate prospect should religiously adapt to for establishing market reputation which can never be destabilized. These practices are an outcome of years of my experience in managing Platinum Real Estate.
1. Role-Play and Reward Your Advocates
Advocates are the channels of producing referrals or recommendations. Training and rewarding are modern approaches of business making; therefore, role-play your advocates and reward them. This will help reduce their reluctant behavior and motivate them to refer you in public and to their friends and associates.
It is often difficult to train the advocates, so the easiest way out is to role-play. Instead of organizing training sessions, take them out to your other advocates and play how to react or generate leads in different scenarios like approval, delay and rejection. Rewarding them includes sending them thank you gifts, card or appreciating them in business conferences and meetings.
2. Heat Up the Iron to Strike On
People often believe to strike on hot iron to shape it but as a prospect, you can’t wait for the iron to heat up. So the best practice is to heat up the iron yourself and then strike on it i.e. construct the road to milestone instead of finding one.
Practices to heat up the iron include contacting your referrals immediately after establishing a link and staying in contact with your old and new referrals in Atlanta real estate market. For reminders, you can send messages through computerized client content management system. But make sure to send individual reminders and meeting in person for establishing real relations.
3. Don’t Ignore Aged Properties
As a common perspective, many real estate agents believe that aged properties are not sold out because of some flaws or defects in the property. Here are two things to remember. Firstly, the reason is not always a defect in the property. It may be extraordinary high price or any other reason. Secondly, getting the deal of an aged property will help you establish stronger market reputation in Atlanta Real Estate market.
As an Atlanta real estate prospect, you can improve your market reputation and earn real business simply by adapting to these best practices. For more information on real estate prospecting, download my eBook “The Viral Noise – Social Media Marketing for Real Estate Agents”.