BUSI­NESS DE­VEL­OP­MENT MAS­TERY

Strik­ing the right bal­ance be­tween con­tact­ing prospects too in­fre­quently, and the other end of the spec­trum – be­ing a pest – is a hard task. You need to make the most of your data­base and this means treat­ing each client dif­fer­ently, as Tara Brad­bury ex­pla

Elite Property Manager - - Contents - Tara Brad­bury

Dur­ing my time as a BDM I re­mem­ber at­tend­ing a sales train­ing event in Bris­bane. I thought that hav­ing my data­base with over 500 con­tacts was such a great achieve­ment, but as the day pro­gressed I spoke with other at­ten­dees and found that I was miss­ing mas­sive op­por­tu­ni­ties.

At the time I was sign­ing be­tween 10 and 15 man­age­ments a month; I didn’t have time al­lo­cated for prospect­ing but was do­ing re­ally well with hav­ing reg­u­lar meet­ings with my re­fer­ral con­tacts. So I was meet­ing great prospects, adding them to my data­base and if they didn’t sign with me on the day they would get a monthly news­let­ter un­til they were ready to sign.

Who knows if they were even open­ing it? I will openly say my meth­ods were just plain lazy!

I re­alised how much op­por­tu­nity I was miss­ing out on and that so many of my con­tacts in my data­base no longer had any in­ter­est in prop­erty in­vest­ment. Just be­cause you have 500 or 1,000, even 5,000 con­tacts in your data­base, it doesn’t mean they are yours when they are ready to go. You need to have a con­sis­tent fol­low-up sys­tem in place to en­sure you have reg­u­lar con­tact, so when the time comes to mak­ing a de­ci­sion they think of you first.

WALK­ING THE FINE LINE

I am of­ten asked, ‘When should I make con­tact so I don’t come across like a stalker? What should I say, and af­ter the first meet­ing how of­ten should I stay in touch?’ My re­sponse is ‘Tough prob­lem to have, isn’t it?’ The most im­por­tant thing to re­mem­ber is ev­ery client’s level of con­tact re­quire­ments is dif­fer­ent. So ask plenty of ques­tions and lis­ten care­fully. ‘What has been your ex­pe­ri­ence over the past 12 months with buy­ing, sell­ing and leas­ing prop­erty?’

‘Do you have a price you are hop­ing to achieve?’

‘What’s most im­por­tant to you when se­lect­ing a prop­erty man­age­ment to man­age your most valu­able as­set?’

You will find that ask­ing these types of ques­tions will en­cour­age the prospect to open up and share fears, past ex­pe­ri­ences and what is most im­por­tant to them mov­ing for­ward. This means you have the am­mu­ni­tion you need to con­tinue to pro­vide them with valu­able in­for­ma­tion when you fol­low up. Make sure you save these de­tails in your data­base, and when you have your next point of con­tact refer back to some of the dis­cus­sion points in your pre­vi­ous con­ver­sa­tion.

The last thing you must do be­fore clos­ing the con­tact card is set a time for when you will next fol­low up the prospect. Never close the file un­til you have your next point of con­tact saved and never rely on your mem­ory!

HOT, WARM OR COLD?

I like to sep­a­rate my con­tacts into three cat­e­gories: hot, warm and cold. This al­lows me to set my fol­low-up tasks, and when I’m com­plet­ing my call con­nec­tion ses­sions my hot con­tacts are al­ways the first on the list. I be­lieve a hot con­tact is some­one who is ready to go now and who has given you the date when they are ready to take ac­tion. This is why it is so im­por­tant to ask the ques­tions in the be­gin­ning and lis­ten to the an­swers, so you don’t miss a golden op­por­tu­nity. In most cases you will call them the next day or the next week, de­pend­ing on what you have dis­cussed.

Warm con­tacts are prospects who have shown an in­ter­est in buy­ing an in­vest­ment prop­erty, want­ing to switch man­age­ment due to is­sues, pri­vate in­vestors or even those who have just pur­chased. They haven’t in­di­cated an end date yet, or the date when they wish to pro­ceed is months away, so reg­u­lar con­tact un­til then is very im­por­tant. In most cases you will call them fort­nightly to monthly and pro­vide rel­e­vant and/or in­dus­try up­dates in be­tween.

Cold con­tacts are those who have shown an in­ter­est at open homes, are looking at buy­ing an in­vest­ment prop­erty or who have raised con­cerns with their cur­rent sit­u­a­tion, but are not ready to open up com­pletely. These con­tacts need time to feel com­fort­able with you and with mak­ing the next im­por­tant de­ci­sion that may im­pact them for many years to come. Best not to push them too hard, so set your tasks to once a month to ev­ery two months of phone con­tact, de­pend­ing on the pre­vi­ous con­ver­sa­tion.

Over­all, it is im­por­tant to re­mem­ber these peo­ple have made con­tact with you or your agency be­cause they need your help. You need to en­sure that when you are con­nect­ing with your con­tacts you have some­thing to dis­cuss. ■

JUST BE­CAUSE YOU HAVE 500 OR A 1,000, EVEN 5,000 CON­TACTS IN YOUR DATA­BASE, IT DOESN’T MEAN THEY ARE YOURS WHEN THEY ARE READY TO GO.

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