The Top 3 Prospecting Leads for High Income Earners

Sphere of Influence, Past Clients, and Referrals: working your sphere of influence is critical for success. Our survey shows those who have a system for working their sphere of influence earn nearly 30% more than agents who don’t use a system. Your sphere of influence is made up of people who already know and trust your abilities. Why wouldn’t you lean on these people to help you find and close new business?

The master SOI, Brian Buffini, has been in the business for 32 years. He cites a statistic showing 80% of all real estate transactions come from working your sphere of influence. He says the agents he coaches, make 12% more than the average agent.

“Don’t trade in electronic tactics for tried and true principles. Don’t rely on technology. You are a lead generator, because you have the ability to develop trust with people,” said Buffini.

3 Step Process

Buffini says in order to future-proof your business, you must follow three things:     

• Invest in Relationships. “Take your best client for a coffee. Go see them on regular visits, and talk to people.”
• Stand Out with Service
• Master Your Skills. “Take a course on negotiations if you haven’t had one in a while.”

Excelling at customer service is the key to winning using this method. You’re great at problem solving. Now, under promise and over deliver.

The data shows that those who have a system for working their sphere of influence have a more than 20% shot at making more than $80,000 over those agents who don’t have a method, but they also make nearly 30% more than the average agent.

Repeat Business and Referrals

Ed Hatch has spent decades as a real estate agent. He says he follows a process to ensure he gets repeat clients and referrals from them.

“When selling someone’s house, understand that they are talking to everyone about it. Ask them if they are comfortable to do you a favor of telling people about you as their realtor if someone mentions in the conversation that they too are looking to sell. Ask your client to ask if they would be willing to get a call from you in the next 48 hours.”

“I’ve seen a 30% bump in my business with this method.”

He suggests you take your two best clients out to breakfast. The next week, take your next two. The following week, take your next two, and so on. Ask them for referrals.

“The best kind of marketing in the world is word of mouth.”

Hatch cites statistics showing 88% of all buyers say they will use their agent again, but only 10% ever do. 84% of sellers say their will use their agent again, only 24% do.

The #1 reason why they say they don’t come back is because they felt abandoned. Hatch says, “we got paid. They got their keys. We went away.”

He developed a system for staying in touch with past clients after you’ve sold them a home.

Method

• Day 1 – drop by with a gift
• Day 5 – write a thank you letter
• Day 10 – arrange drop-by to see if they are comfortable – include this ask in the letter
• Day 14 – drop by
• Day 15 – personal note – offer to take a pic of them in front of their new home – make a postcard to send out to their closest friends and family as a change of address notice
• Day 21 – Send out their change of address notice

Annual Program

• 12 written contacts – send them a newsletter with relevant information (add a PS- thank you for your continued trust and referrals)
• 3 phone contacts
• 2 visits
• 1 client appreciation event

For Sale By Owner

Data shows that working this lead type will give you a 10% greater shot at making more than $80,000 compared to an agent who doesn’t work it.

Owners are selling their own property to net a bigger profit. As an agent, could you make it more advantageous for the seller to use you? Start the conversation by asking these key questions.

Would they consider using you if you could sell their home for a price that would cover your fee?
Ask them why they want to sell. Build a rapport.
If I could bring you a buyer, would you consider using me?

Expireds — Need An Appointment Right Now? Focus on Expired Listings

The data shows if you work Expireds, you have a 13% greater chance of making more than $80,000 per year over an agent who doesn’t prospect this lead type.

Pamela Ermen, President of Real Estate Guidance, Inc. has made her niche in the real estate market in finding unlisted inventory. Her strategy on expired listings is to focus on properties that expired 3 years ago. She then cross checks the properties with the MLS to see if they have moved. If they haven’t, she knows she’s dealing with a homeowner who wanted to move at one point and may still want to. At this point, she reaches out to them.

Wrap-Up

Immediately schedule time with your two best clients. From there, create a system, mirroring Buffini’s results driven system, to start working your SOI. If you are already prospecting Expireds, then focus on the 3 year time frame like Ermen and track if that gets you better results. Don’t give up, stay proactive, get the clients.