Today I’m sharing a blog post written by Jay Luebke for Inman. I often discuss the importance of keeping in touch and prospecting on this blog, and I liked how Dan explains how to prepare for the winter season now.
Dan writes:
What many agents fail to stop and think about is that our income stream is not predictable in the sense that if we prospect now and find a new buyer or seller client, we will get a check in 30-45 days.
On average, a buyer is actively looking for a home for between three and six months, which means that if we got a new client tomorrow, we could be working with them until January of 2016. You cannot count on a commission check coming in the door in a particular timeframe.
As agents, we need to be focusing on prospecting year-round. Many agents, especially those who are newer to the business, find themselves busier during the summer months when the market picks up.
They spent most of the spring months prospecting, and the buyers and sellers that they procured from this work are now writing offers. The income stream also increases, and we get a false sense of financial security.
But we also need to think about the ebbs and flows of the market, when buyers and sellers are less likely to pursue the possibility of moving.
To prevent the dip in commission checks, make sure that you are devoting the appropriate amount of time each day or week to prospecting.
Everyone has a different way that they like to prospect for clients — be it following up with past clients for referrals, cold calling leads, etc. — but whatever way you prefer to prospect, make sure that it continues throughout the year, not just when business tapers off.
Successful prospecting all comes down to a few key things: time management and discipline. I know that it’s tough.
I’ve been there, and I see coworkers go through it each year. Even though it can difficult, I promise that if you spend the time and energy now, it will pay off in the long run.
IXACT Contact Tip:
When you’re busy in the spring and summer, don’t fall behind on your efforts to keep in touch with past clients and prospects. Use relevant drip email campaigns and monthly e-Newsletters to ensure your prospects know you’re available year-round.