Identifying Hot Prospects in Real Estate Sales

Here’s a typical scenario…

A Agent gets what she believes to be a hot prospect. Over the next several weeks she calls and visits. The prospect is friendly enough. In fact, the agent has numerous conversations with him and answers question after question. But as the weeks go by, nothing happens. Finally, the agent realizes, “This is a dead end.” But she has already wasted hours of her valuable time.

Has this ever happened to you?

The way to solve this problem is to understand the difference between a HOT prospect and someone who is only casually interested in buying or selling a home.

A prospect isn’t someone who has simply agreed to a free appraisal, or called you to ask the final selling price for a neighboring property. Genuine prospects have specifically indicated, through words and actions, that they will likely sell or buy a home (or both) within the next three to six months.

A true prospect meets two criteria:

1. They have expressed an interest in working with you, specifically. (Not just any agent.)

2. They know where, when or why they are moving. (But not necessarily all three.)

So when someone says “We love going to open houses. Can you please let us know when you’re hosting the next one?” they are probably NOT a genuine prospect. However, if someone says, “We’ve outgrown our house and plan to move this summer. When do you suggest we list our home?” then, indeed, they are real prospects. Why? Because they have specifically asked you for advice, indicating an interest in working with you; and, they know when and why they want to move.

When you identify a prospect, immediately put them into the appropriate Prospect Nurture Activity Plan in your IXACT Contact real estate CRM. If you’re on the road, simply add the prospect to your address book on your phone and that prospect will appear in your database when you get home. It’s all done through our constant two-way wireless sync system. Stay on top of the opportunity. That prospect will, in all likelihood, become a new client…for someone. Make sure that someone is you!