We then had a discussion on how to go about it and I was, frankly, a little stunned at some of their definitions of ‘prospecting.’ So, I wanted to just provide a little refresher on what prospecting is…and what it isn’t.
What Prospecting Is
Calling past clients
Calling people in you sphere on influence
Calling expired listings
Cold calling for listings and sales
Knocking on doors
Holding open houses
What Prospecting Isn’t
Mailing magnets, calendars, etc…
Setting up a website
Joining service organizations
Wearing your name badge around town
Putting signs on your car
Sponsoring a little league team
Doing “floor time”
The Four Pillars of Prospecting
1. Set a daily time and place for prospecting: You can’t work your prospecting around your day; you must work your day around prospecting. You have to establish the habit and engage in the discipline of prospecting on a daily basis and from a controlled environment.
2. Fight off distractions: Let’s face it most agents will welcome ANY distraction to avoid prospecting. The difference between prospecting avoidance and prospecting success comes down to how you handle distractions.
3. Follow a plan: You must know who you’re going to call each day and for what reason. The best approach is to set-up each day’s prospecting plan a day in advance.
4. Be faithful to yourself and finish what you start: Stay faithful to your daily objectives by completing all of your prospecting contacts down to the very last one! Don’t settle for less than your daily goal.
Success is built on a series of fundamentals. One of those fundamentals is prospecting. Remember, there is a difference between activity and accomplishment, don’t confuse the two.