The Reluctant Prospector

As it happens every year ‘round this time, New Year's resolutions are being made with a vengeance.

In our world of real estate sales, these resolutions tend to focus on revving up one's prospecting efforts in hopes of having a Great New Year. Promises to more fully commit to a cold-calling or door-knocking campaign, to more aggressively pursue expired listings and FSBO's, to formally choose a farm area or finally figure out what SEO really means.

All well and good. I wish you luck with that!

But in addition to all these Numbers Games, I submit the following plan for your consideration...

Rather than attempting to contact 100 people a day in hopes of catching the attention of a few, how about trying to impress just a few every day, in hopes of making a memorable impression on every single one? If you were to impress two people a day, at the end of a year, that's over 700 people on the planet who think you're really cool - instead simply sort of recognizing your name from your mass-marketing efforts.

Instead of pestering your sphere of influence once a quarter with requests for referrals (which I promise you are not welcomed with open arms), try reconnecting with the people you know as a friend or acquaintance first - a friend or acquaintance who happens to sell real estate.

Instead of focusing all your time, energy and budget on hunting down new prospects, spend at least half of that time being a kick-a$$ real estate agent for those clients who have already honored you with their business.

It is possible to run a perfectly respectable real estate business without doing ANY formal prospecting other than what I describe above. If the people in your world think you're a pretty darn cool person AND a terrific real estate agent, they'll take great care of you throughout your career.

No game-playing required.

Join us on January 16th for a FREEEEE Teleseminar on the
Dangers of Referral-Begging (and what to do instead).
Register HERE!

The live show is over - but here's a link to it. I had a great time; hope the audience did, too... there's some good stuff here if I do say so me-self. Thanks Jon!

Hey, if you have a minute (okay, an hour) in the middle of the day today (12:30 eastern), please consider tuning in for my interview on the Introvert Experience with Jon Hansen! He sent me an outline of the program last night and yipes! He has some good questions - ones I've never answered before... some I've never even thought much about.

I better do that - give them some thought, that is.

Below is the promo for the interview. If you want to join us, here's a link to connect: http://www.blogtalkradio.com/jon-hansen/2009/12/16/the-sincere-introvert-sincerity-and-vulnerability-

The Sincere Introvert: Sincerity and Vulnerability in the Age of Personal Branding
As host of the PI Window on Business Show, I have had the opportunity to speak with The Twittering Granny, Canada's Trade Minister, Maine's gubernatorial candidate Matt Jacobson, bestselling authors too numerous to list and industry thought leaders.

Suffice to say each one provided invaluable knowledge, insight and great entertainment for all of us. However, and even with this great constellation of guests, in a world in which personal branding is the key element of building one's profile and establishing an enduring presence, Jennifer Allan caught my attention!

Perhaps it was the fact that she is an admitted introvert? Or maybe it was the simple yet powerful expression of her belief that "the secret of success for real estate agents (Jennifer is a former top producing real estate broker), and other entrepreneurs is not in aggressive marketing techniques or hard-core sales pitches, but rather in being competent in one's craft." A quiet competency if you will that establishes confidence in those with whom she seeks to connect and serve.

A published author, a speaker and a trainer, Jennifer has written five books about the business of selling real estate, including her flagship book: Sell with Soul: Creating an Extraordinary Career in Real Estate without Losing Your Friends, Your Principles or Your Self-Respect.

Jennifer also has a new book that is scheduled for release in early 2010 entitled "If You're Not Having Fun Selling Real Estate, You're Not Doing it Right!"

In the context of the old saying "I can't hear what you are saying because your actions are speaking too loud," I cannot help but think that this champion of the "quiet" brand is perhaps on to something in what is the fast-paced world of social media and social networking.

I am of course pleased to be joined by Jennifer Allan on today's show to talk about her version of building an effective personal brand.

Next up on the list of ways to turn Prospecting Cheese into Soul... the ever-popular Newletter! If you've missed the first two installments, you can catch them here:

Turning Cheese into Soul 
FSBO's & Expireds 

I probably have enough opinions on the topic of Newsletters to fill up half a dozen blogs... and I may just do that. But we have to start somewhere, so let's start, um, here.

We real estate agents love our newsletters, don't we? I wonder how many companies out there are capitalizing on our affection for the newsletter? Encouraging us to "build relationships" via our newsletter... to stay in touch with our friends via our newsletters... to promote ourselves and our wonderfulness via our newsletter?

I'm on a lot of newsletter distribution lists from agents around the country. Some are... well, let's just say that some are better (less-cheesy) than others. Most are clearly purchased "as is" and distributed at the touch of a button (or click of a mouse). Some display a little bit of customization, such as a spot to write a "personal" note and feature a listing or two. A few appear to be 100% created from scratch.

What are the typical topics covered in a real estate agent's newsletter? Lessee... home improvement tips, gardening ideas, recipes, market stats, Just Listed and Just Sold announcements, mortgage news... sorry... but YAWWWWWWWN. Not only does every real estate newsletter seem to follow the same pattern, but half the time, the information is so boilerplate as to not even apply to the local market! Even the fully customized newsletters, while more relevant to the audience, still tend to look, sound and feel like templates.

So let's step back a bit.

What's the real purpose of your newsletter? Is it to...

• Educate your audience on the average Days on Market or Price per Square Foot in your area?
• Impress the reader by displaying your new listings or bragging about your recent closings?
• Ensure your friends know how important it is to winterize their sprinkler systems?
• Share your gardening expertise, even though the monthly "tip" is clearly from a different climate?

If you answered "yes" to any of the above, I'll encourage you to think about your answer.

Isn't the ultimate goal of a newsletter to make your audience like you? And remember you?

We can debate all day about what exactly "like" means, but in general, I believe the point of a newsletter is that the person who receives it thinks a little more highly of the person who sent it than they did before it was sent. Which naturally leads to them being just a little more likely to remember that person than they were the day before.

So, what, in a newsletter, might inspire that reaction? Or conversely, what might be the kiss of death?

More next time...

Here's the first installment in a series - Turning Cheese into Soul.

For the record, I have never seriously pursued Expireds or FSBO's myself; however, I have BEEN an expired listing and have appeared to be a FSBO, so I speak from the perspective of a consumer, not a real estate agent or trainer.

And I tell ya - the expired and FSBO campaigns I've personally been the recipient of are pretty darn cheesy. Obviously the agents are taking a shotgun approach to getting business from us poor saps who desperately need their "professional services." The good old Numbers Game - throw enough doo doo against the wall and eventually something will stick. And most of it is, indeed, doo doo.*

Here are some examples of the cheesy marketing I've gotten from agents who want my business...

• Daily postcards addressed to "Property Owner."
• Postcards with a hand-written "Call me! I Have a Buyer for Your Property!" (uh, the house was on the market for the last 9 months).
• Envelopes with my name misspelled (at least that's a step above "Property Owner")
• Letters with promised "enclosures" missing (e.g. "enclosed is a list of homes that have recently sold in your neighborhood!")
• A laughably cheesy series of letters with an insultingly condescending tone.

I've also been cold-called, of course, although not nearly as much as I expected. In almost all cases, the caller was obviously calling from a list and was not in the least bit prepared for a real live human bean to answer the phone. They were usually nervous, probably due to the fact that they were not at all prepared to intelligently discuss the specifics of my listing. I guess they were just shooting for the appointment, and didn't bother to "waste any time" in preparation.

Here's the thing.

The owner of an expired listing or a FSBO probably really WOULD like to hear from you... if you have something to offer aside from a cheesy canned marketing piece and a desperate desire to get a listing agreement signed. These people are not the enemy - they're, yes, real live human beings who have a need they'd love you to fill. But no mass-mailing or cold-calling campaign is going to convince anyone you're the right (wo)man for the job. 

What to do instead?

Quality over Quantity. Instead of simply shoveling out postcards, brochures and missing enclosures to as many targets as possible, take the time to personalize your approach to a few. Drive by the home. Take a close look at the expired MLS listing or the FSBO brochure. Note any marketing challenges you see and think about how you would address them. See if you can identify why the home hasn't sold - it may be price, but it very well may not be. Try to figure out if the property is a short sale; that will affect your approach. Ask yourself - "CAN I SELL THIS HOME?"

That's what your target audience wants to know. Can you sell their home?

If I had received just one personal letter (and I don't just mean a hand-written envelope) from an agent who had taken the time to actually LOOK at my situation and address it specifically, that agent would have had a great shot at my business. If one of the agents who called me actually knew where "Doe Run Estates" is located and why it's special (and challenging), I'd have been impressed. If any of them had indicated they had a clue why my property didn't sell, or even a sincere desire to find out, they might have caught my attention.

But, sigh, no. All attempts to entice me to take the next step were in vain. Hopefully they had more luck with their 99 other targets-du-jour...

STAY TUNED FOR THE NEXT EPISODE OF TURNING CHEESE INTO SOUL...

*For the record, I like Borino's Expired Plus system. It's not cheesy and it's not simply a series of letters designed to beat down a homeowner's resistance. It's aggressive, but do-able for a soulful sort.