Lead Generation 36:12:3
Power Session 2: Prospecting
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In this Power Session …1) Introduction
2) The Lead Generation Puzzle
3) Prospecting: The Critical Puzzle Piece
4) Three Steps to Prospecting
5) Three Ways to Connect
6) Overcoming a Limiting Mindset
7) Daily Routine
8) Tracking and Accountability
9) Putting It All Together
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Ground Rules1) Arrive on time.2) Form groups quickly.3) Limit side conversations.4) Turn off cell phones and pagers.5) Be comfortable.6) Respect time.7) Respect each other.8) Help each other.9) Respect confidentiality.10)Have fun!
IntroductionPower Session 2
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Introduction
How You Will Learn
Learning Methods1) Manual• Models/Systems• Exercises/Discussion• Stories
2) Classroom• PowerPoint slides• KWConnect videos• Classmates/Instructor
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Introduction
How You Will Learn
Accountability Methods1) Lead Generation Action Plan
2) Accountability Partner/Program
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1. Set Goals
2. Do Key Activities
3. Measure Results
4. Evaluate Process
5. Make Adjustments Accountability
Feedback Loop
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EXERCISEWhere You Are Today
1) Lead Generation Activities
2) My aha’s from these activities
3) The most difficult part of these activities
4) What I will do differently in the next 24 hours
Time: 10 minutes
IntroductionPower Session 2
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Introduction
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You are here!
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Why You Are Here
One agent’s perfect day of prospecting
(refer to story on Page 7)
Read, underline, and share …
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Introduction
What Will Make This a
Great Training Experience• • •
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The Lead Generation Puzzle
MarketingP M
Lead generation requires both: Prospecting plus Marketing
Truth
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Prospecting
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The Lead Generation Puzzle
Stop and Watch
• www.kwu.com
• KWConnect
• Lead Generation 36:12:3
• Session 4 (4:26 minutes long)
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Prospecting
Seeking leads
Attracting leads
Marketing
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The Lead Generation Puzzle
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Haven’t MetsHaven’t Mets MetsMets
AppointmentsAppointments
Prospecting + MarketingProspecting + Marketing
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Prospecting Based, Marketing Enhanced
The Lead Generation Puzzle
Prospecting
Marketing
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The Emphasis is on Prospecting!
12-13
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Prospecting Reinforces Marketing
Marketing Supports Prospecting
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Cost Versus Time/Effort
Prospecting Marketing
Cost MinimalCould be unaffordable
Time/Effort Maximum Minimal
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EXERCISEAssess Yourself: Where are you now?
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The Lead Generation Puzzle
Prospecting Versus MarketingDaily Weekly Monthly Annually
Amount of time devoted to Prospecting
__mins___hrs
___mins____hrs
___mins____hrs
____mins_____hrs
Amount of money spent on Marketing
$ $ $ $
Is your lead generation program prospecting based?
Yes No16
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Prospecting: The Critical Puzzle PiecePower Session 2
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P
Myths and Truths
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Prospecting: The Critical Puzzle Piece
Myth 1
Prospecting = Cold Calling = Rejection
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Truth
Prospecting = Meeting People and Building Purposeful Business Relationships =
A Strong Real Estate Business
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Prospecting: The Critical Puzzle Piece
Myth 2
Prospecting means contacting people you don’t know.
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Truth
Prospecting means contacting people you know as well as those you don’t
know.
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Stop and Watch
• www.kwu.com
• KWConnect
• Lead Generation 36:12:3
• Session 1 (5:35 minutes long)
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Prospecting: The Critical Puzzle Piece
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Prospecting: The Critical Puzzle Piece
Myth 3
Prospecting is what you do to launch your business. Only new agents have to prospect.
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Truth
Prospecting is what you do to keep your real estate business running and growing. You
should never stop prospecting.
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Prospecting Statistics*
Who already has an agent?
30% of sellers
13% of buyers
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* “The 2006 National Association of Realtors Profile of Home Buyers and Sellers”
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How People Choose an Agent
Buyers Sellers
1.Use the agent who contacted them
3% 5%
2.Use the agent referred to them by friend, relative, or neighbor
40% 44%
3.Use the same agent they used before
13% 30%
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Prospecting: The Critical Puzzle Piece
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How People Choose YOU Based on Your Prospecting
Prospecting To: Buyers Sellers1.Haven’t Mets
You contact people you don’t know
3% 5%
2.Mets You contact people you know and ask them to refer you
40% 44%
3.Past Customers You contact them and ask them for repeat business
13% 30%
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Prospecting: The Critical Puzzle Piece
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Five Benefits of Prospecting
1. Is inexpensive and yields immediate results 2. Puts you in control of filling your pipeline of leads
3. Increases your confidence and skill
4. Yields quantity leads which yield quality leads
5. Keeps you in direct contact with the market and protects against market shifts
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Prospecting: The Critical Puzzle Piece
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EXERCISEFive Benefits of Prospecting
1) Recap the benefits
2) Prioritize the benefits
3) Complete the form on page 27.
Time: 5 minutes
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Prospecting: The Critical Puzzle Piece
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Three Steps to Prospecting
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Step 1. Approach
Have the right mindset to approach• Be proactive—don’t wait for people to come to you• Be willing to break the ice• Be friendly, caring, and most importantly, be real• Be curious about them and their concerns• Be ready to give positive feedback• Be confident in your pace and posture• Be ready to connect
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Three Steps to Prospecting
Step 2. Connect
Be a giver: Always come from contribution
Takers vs. GiversHow to connect
Ways to be curious
F O R D
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EXERCISEApproach and Connect
1. Follow directions on page 342. Sample questions
What do you like about the neighborhood you live in?What was the last book you read and what did you get
out of it?What is one of your goals for this year?Describe a really fun vacation you had.What do you enjoy doing when you’re not working?
Time: 10 minutes
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Three Steps to ProspectingPower Session 2
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Step 3. Ask
How to ask1. Ask for appointment or referral
2. Give thanks
3. Get permission to follow up
4. Get their contact information
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Three Steps to Prospecting
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Three Ways to Connect
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1. Calling
Know who to call1) Expired Listings
2) FSBOs
3) Referrals
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Three Ways to Connect
4) IVR Inquiries
5) Website Inquiries• Email
6) Mets
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1. Calling
Know when to call• Cold vs. Warm vs. Hot• Do Not Call?
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Three Ways to Connect
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1. Calling
Know what to say
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Three Ways to Connect
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1. Calling
Be ready to call
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Three Ways to Connect
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2. Visiting
Know Your Options for Visiting• Door knocking • Pop-bys • Random encounters (casual meetings)
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Three Ways to Connect
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2. VisitingKnow who to visit1) FSBOs2) Expired listings3) Residents of a geographic farm4) Apartment dwellers5) Homeowners around an open house you plan to host6) Corporations7) Banks8) Builders9) Mets (including past customers)10) Anyone you run into—anywhere, anytime
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2. Visiting
Know when to visit
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EXERCISEAssess Yourself: Current and planned
prospecting activities1) Fill out the table on page 52 and discuss with a
class partner.
Time: 5 minutes
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Three Ways to ConnectPower Session 2
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3. Attending/Hosting Events
Joining organizations and groups
Hosting events• Open Houses• Customer Appreciation Parties• Seminars and Classes• Community Events
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Three Ways to Connect
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EXERCISEAssess Yourself: Current and planned
prospecting activities1) Fill out the table on page 59 and discuss your
plan with a partner.
Time: 8 minutes
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Three Ways to ConnectPower Session 2
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Getting Comfortable with Making Contact
Mindset
Affirmations
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Overcoming a Limiting Mindset
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EXERCISEAffirmations
1) Write down three to five affirmations for yourself.
Time: 5 minutes
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Overcoming a Limiting MindsetPower Session 2
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Daily Routine
Habit of 3 Hours Daily Lead Generation
Time Blocking
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EXERCISEHow Will You Time Block Your 3 Hours?
1. Write down three lead generation activities.
Time: 5 minutes
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Daily RoutinePower Session 2
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Allow for GrowthImprove your skills
Just do it!
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Tracking and Accountability
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Measure Your SuccessMo
nTu
eWe
dTh
uFr
iSa
t
Number of prospecting calls per hour
Goal
Actual
Number of contacts made per hour
Goal
Actual
Number of Mets added to database
Goal
Actual
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Tracking and Accountability
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AccountabilityI Currently
DoI Plan to
DoI have a coach, consultant, or peer partner
I meet regularly with my coach, consultant or peer partner to review my activities and outcomes
I have set goals that I believe I can achieve
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• Power Session Aha’s
• Your Lead Generation Action Plan
Power Session 2Putting It All Together
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Power Session 2Putting It All Together
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The 3-Hour Habit
1) Time block 3 hours every workday before noon.
2) No skipping. If you must erase, then you must replace.
3) Allow no interruptions (unless they truly are emergencies).
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Thank Youfor Being Here!
Don’t forget your evaluations!