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  By Real Estate Trainer
    Randy Roussie

Training Article - Segmenting Your Lead Prospecting!

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Article written by real estate trainer Randy Roussie, for more information on Randy, click here or his products here.

Real Estate Training Article, Preparing For Leads; Segmenting Your Lead Prospecting  
 

Training Article - Preparing For Leads; Segmenting Your Lead Prospecting!

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Prospecting for leads requires you to properly segment your two major target groups.

Group 1 - Your Personal Lead Database

This target group consists of your personal prospects - the people you already know. The average person in North America knows 200 to 800 people. Your responsibility is to create your personal lead database, meaning you need to get organized by having the following for each contact.

1. Name
2. Address
3. Telephone number
4. Email address

Email Address?

Why is that important and how are you going to get it? The easiest way is to ask them for it. Failing that, you will need to market to them in the same way as you would group 2 - baiting them with an advertising method that causes them to want to give their email address to you.

How Often To Communicate?

You should communicate with your personal group at least 1 time per week. This brings us to several points needing discussion.

Point 1 - Now You Know Why You Need Their Email Address

To save yourself some CASH! By having their email address you do not need to pay a cent in advertising to stay in-touch with your personal group.

Point 2 - You Must Communicate Success - And Do So Often

That is why we recommend you inform your personal group of every single new listing and new sale you have - as often as you have them. Why? People love winners, they love leaders - that's why brand name products and services are in constant demands.

By communicating your successes - you will be making yourself into a brand name service - one they respect and want to have when they need the services of a real estate professional.

So send them your Just Sold and Just Listed notices - all the time

Tip: Make sure your Just Listed and Just Sold marketing notices have a place on them for you to include the web site links to your free gifts that we are about to discuss in point 3.

Point 3 - Make It A Practice To Give

Give what? Free and useful services such as:

1. IDX site
2. Yard sale web sites
3. Newsletter web sites

Wait - Let's Talk Newsletter Web Sites For A Moment

Never send to your prospects a newsletter that has been designed to impress a real estate agent. This kind of newsletter would contain information such as mortgage rates and MLS stats.

Guess what? Your prospects are not interested in such things. Rather send to them a newsletter that has been designed for them - containing items of interest to them - causing them to want to keep the newsletter and make it their homepage.

Point 4 - Your Inner Circle

Of course you will have an inner circle within your personal group. This inner circle consists of contacts you know best, prospects who are willing to send business your way.

What you must do for your inner circle is grease their wheel. You need to make sure you reward them for every lead they send your way - whether or not the lead turns into a listing or sale. Of course you will reward more for listings or sales that close. A good rule of thumb is to give them a 20% to 30% referral fee.

For the leads that do not turn into listings or sales, you must still reward your inner circle. As to what, you should give what you think impresses the contact to continue to send referrals to you.

Group 2 - Your Public Lead Database

This target group consists of every adult living in your market area. Yet we still need to segment this group so as to increase marketing effectiveness.

Public Prospecting

A. For Sale By Owners - FSBOs
B. Farm Area Homeowners
C. Landlords
D. Newsletter web site marketing
E. Report info marketing

What is Your Goal Within Each Group?

To harvest their email address so that you can build a relationship.

How Is This Done?

Let's begin by discussing FSBOs.

A. FSBO Marketing

Well, you have a few choices here when it comes to prospecting FSBOs. You can go direct and take all the pain that comes with it. Or you can choose to prospect passively - meaning you send flyers to them.

What Do We Recommend?

Passive saves you time and aggravation associated with the sorting process - that is sorting the cooperative from the uncooperative FSBO.

B. Farm Area Marketing

Regardless of what you may have heard or been taught when it comes to farming - it remains as one of the most successful solutions to increased income. So the question is not if farming is wise, it is how best to build a farm system.

Farming Goals

Your first goal in farming is to get your name recognized and remembered by as many homeowners as possible. Your second goal in farming is to harvest as many email addresses as you can.

How To Farm

Of course you will need to snail mail into your farm. What should you send? The most two useful methods are the following.

1. Your newsletter web site

This is a newsletter that is Internet based. It has been purposely written to contain articles and information that is interesting to a homeowner.

2. IDX Web Sites

Learn more here: http://www.idx10.com

Farm Size & Location

We central farm area within a specific neighborhood is a must. Then you will want to have additional farm areas based upon price and home type. For example:

Low end price - mid price - high end price

Also, you will want to ensure you spread yourself out over the entire area of your city. Perhaps you will have an east end farm, west end farm, south end farm and a north end farm. By spreading yourself out your city, you will achieve deep market penetration.

Group 2 - Your Public Lead Database

A. Landlords Leads

This target group consists of real estate investors - individuals investing in real estate for the purpose of rental income and equity increase. You will find this group is extremely loyal to their real estate agents. Thus the reason as to why you want to develop a relationship with this lead type.

Help Them Keep Their Property Rented Is The Secret

That's your goal. It is exactly what they want as well. How do you achieve this goal?

Why Not Give Them A Free Web Site!

They will use their free site in their advertising. The site will allow potential renters to view the home, or apartment, online. And if the renter likes the unit then they can request a showing right from the web site. Now that's a creative and effective way to build relationships with landlords.

Remember Your Goal

It is to build relationships with landlords. In time the landlord will need the services of a Realtor. Since you helped the landlord keep his unit rented, most will use you for listing or buying personal residences or additional income properties.

B. Report Marketing

You can use report marketing for both your personal and public databases. A very effective report is a free CMA where the seller is given access to a CMA request without needing to call you to get it.

How Is That Achieved?

By way of an Internet web site called a "CMA Request Site". You the Realtor would own the site and direct sellers to visit the site to request a free CMA from you.

By doing it this way - (seller not needing to speak to you on the phone) - you are approaching them in a way that is comfortable and easy for them to request the info from you. Therefore your advertising will have a higher contact rate.

Now That Is Smart Marketing For Leads

Most agents do not understand lead advertising. They think it is to get immediate business. It is not. It is to harvest leads than eventually turn into business. Sure you may get lucky here and there and get a quick listing or sale, but that is the exception and not the rule.

C. Staying In-Touch With Leads

Once again you will want to be smart. Never make your lead feel obligated to you. Rather cause your lead to want to stay in-touch with you.

How Is This Achieved?

Give them a web site that makes it easy for your lead to use the Internet. And the best idea for that is your newsletter web site.

A Newsletter Designed To Impress Them!

The problem with the Internet is the mass amounts of information it contains and the various sites a user needs to surf to find that information. Therefore, a smart newsletter web site would make it easy for the user to get the information they like - plus it would contain information of interest to them.

To see such a system go here or here


Random Training Articles:
The Top 22 Closes For Realtors When On A Listing Appointment
Prospect 'For Sale By Owners' Without To Speaking To Them 'Face To Face'
How To Build Your Self-Talk

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