Prospecting Plan As a real estate agent, you are likely already very busy, and it can be difficult to stay on top of prospecting. In order to consistently maintain a full pipeline of leads, you will need to create a prospecting plan. Following a structured plan will allow you to find solid and high-quality leads on a predictable basis. A prospecting plan should include the below steps:

o Identify your prospects: Who are you targeting? Do they live in a certain suburb? In a certain school zone? Etc. o Ways to approach your prospects: What prospecting activities or methods will you use? Cold calling, networking at local events etc. o Ways to engage your prospects: What questions will you ask? What communication techniques will you use to interest the prospects? o Set specific goals and expectations: How many solid leads do you want to generate per call? Etc. o Set points to review your prospecting activities and goals. Its helpful to establish a set of criteria that you can use to measure outcomes. This could include: o Number of leads per prospecting activity o Price of each lead (how much did that prospecting activity cost you?) o Lead conversion rate A CRM is useful to set reminders and keep notes. You should schedule time every day to prospect even if its an hour a day. You may have lots of listings at one time, but once those sell, you will need new business.

Prospecting Activities and Methods 1. Cold calling This is often the most time deficient method of gaining new business as it is likely to be a hit & miss numbers game. Firstly, you have to find someone to answer the phone or the knock at the door. Then find someone who owns their property and is interested in selling or purchasing. Often if they engage in conversation, its because they simply want someone to talk to, not necessarily that they intend giving you any business. 2. Testimonials Used extensively in the market appraisal presentation and perhaps again in the listing presentation, these third-party affirmations carry more weight than self-promotion, especially as our society has the get over yourself mentality. Rather than promoting yourself, having testimonials from past clients helps to elevate your credibility and will give prospects a sense of confidence in you. They are well worth their weight in gold when used as a prospecting tool. Use these where-ever you can, so dont forget social media and the agencys website

3. Referrals When the name of a client has been given via a third party, with permission. Virtually, giving you the foot in the door. This is a great tool to leverage off your past clients and current networks. Prospects that come from referrals are usually very solid. A past client will generally only bring you up if someone they are speaking with is talking about selling their home. As they already want to sell, youre halfway there! 4. Networking Attending events such as Chambers of Commerce or collaborating and connecting through social media with beneficial businesses or clients. Ensure you have a winning elevator speech prepared for your introduction. 5. Direct marketing Getting right to the source of your clientele. This could be targeting the viewers at an Open House, of course after obtaining their express permission to do so. You can use brochures, signboards and social media posts to attract new clients. Once marketing is up and running, it requires little time and effort and works as a 24-hour prospecting tool. 6. Past Sales/Marketing The long-established method of contacting the neighbours when a property is listed and sold is still highly effective. For Sale signs tend to agitate even the most comfortable of homeowner, especially when the neighbouring property sells for more than expected or in a quick time frame. Its the I wonder if my home is worth that? thought, so prospecting in the immediate area should be done immediately, while the neighbour is still intrigued. 7. Seasonal Marketing These can be highly effective and retained by the resident. It could be the annual calendar with your agency details, a themed quarterly newsletter (E.g. snowman for winter, daffodils for spring). Others could contain simple recipes, again these could be monthly and follow the same seasonal theme (E.g. how to prepare the Christmas turkey).

9. Letterbox drops Similar to cold calling, this method requires time and effort and is likely to be hit & miss. However, getting your name and number in peoples mail especially in a neighbourhood that

you are already selling a property in can be beneficial to your prospecting and you may get a few calls and leads from it. 10. Seminars / workshops Take advantage of the variety of people who attend these events, such as property investors looking to purchase or expand their portfolio. 11. Strategic partnerships Someone who reciprocates with exchange of business, E.g. conveyancers, solicitors, building and pest inspectors, mortgage brokers. You should also remember to reach out to leads ASAP if they respond to any of your prospecting methods. Leaving it even a few hours may mean they have found someone else to list their property in that time. Generally speaking, if someone finally has the time in their day to reach out to potential agents, they will keep calling until someone picks up. When setting out to prospect or obtain new sales listings, you must do so according to legislative and agency requirements. So, it will be necessary to: o Ensure potential clients are not mislead (do not engage in misleading or deceptive behaviour) o Do not inflate potential prices that can be achieved (as per Underquoting laws) o Ensure all agency policies and procedures are met o Do not stalk or harass the potential clients

Item 3 of 14

Your agency principal has asked you to develop a prospecting plan for vendors that you and the other sales agents can use. Create this plan below:

Vendor Prospecting Plan

Target market:

Prospecting Activities:

Communication techniques and Questions:

Goals/Outcomes: