header image
 

Seven Steps of Effective Prospecting

There are strategic steps to being great at prospecting. I have capsulated these in what are called the seven F-words of prospecting.


The 1st step is to Find:
We have to find a place to do the prospecting. Finding a place is one of the biggest challenges in prospecting. This place has to be quiet with minimum distractions. We need to have an environment that is controlled for the prospecting to happen.

We also must find a time to prospect. Most Agents try to fit their prospecting around their day, rather than fit their day around their prospecting. Those who have no set time for prospecting do not do it. Going to the same place at the same time helps to form the habit. Prospecting is about discipline and habit. The habit and discipline make up for the lack of skill.


The 2nd Step is to Forget:
We need to forget all the previous failures weve experienced. We have all had days when the results were not what we had hoped. We have all stared at the phone for an hour trying to make the first call. We have had times when we did not feel like prospecting. Forget about your previous failures. Start fresh today. Make the effort now to pick up the phone and call a past client or someone in your sphere. Take the action that needs to be taken.


The 3rd Step is to Fight:
We must fight all the hindrances and distractions. Your mind and other people will create more disruptions than you can imagine: I cant make calls until I call these three people back about our deals in closing, or I have to get these flyers made for these listings, or even I have a hang nail, and it will be hard to dial the phone, and it might get infected. The reality is, any distraction or hindrance will do. You have to fight them off with a passion. The people who are effective at prospecting have just as many distractions as you do, maybe even more. They are just more effective at fighting them off.


The 4th Step is Focus:
The ability to focus comes before one acquires success. If you examine the most successful people, they have the ability to achieve intense focus. They have developed the skill to be in the moment, to focus completely on the task at hand. By applying the discipline of daily activity, you can build the muscle of focus. By finding a spot and finding the time, you give your mind the opportunity to focus on your prospecting much easier. One technique I used to intensify focus before prospecting was to rehearse my scripts and dialogues. This rehearsal helped me to work and warm up before making the first call. The practice session put me in a more focused mindset.


Step #5 is to Follow:
Follow a plan of action to create a plan for your day that places prospecting in its proper place. This means doing the prospecting when you have the most energy and intensity. Many of us fail to plan our day for success. We let the day unfold. Never start a day before you plan it out on paper. We must create a plan to follow. Often our time is tossed like a small ship on a huge ocean with no means of steering, going wherever the winds and surf will take us. We react to the problems and crises all day and, in the end, wonder where all of our time went. Control the day; control the time.


The 6th Step is that we must be Faithful:
We must be faithful to ourselves and our commitments: faithful to do the prospecting daily, to diligently commit to prospecting daily for a specific time frame or specific number of contacts. When you are faithful to your objectives, you will win every time. When you are faithful to prospecting, the results are astounding. The law of accumulation kicks in on your behalf. This law states that everything accumulates; that all your positive actions accumulate to build momentum and exponential rewards. Its amazing how a few contacts every day repeated over time can bring forth staggering results.

Let me share two examples of the power of the law of accumulation. The first has to do with wealth. Wealth is what most people desire. I only know of few people who dont want to acquire great wealth. One of the benchmarks of wealth is becoming a millionaire. To possess a million dollars is relatively easy. If, at the age of 20, you put $2.78 away each and every day into an investment account that achieved reasonable interest, you would be a millionaire by the age of 65. Now, who in todays society couldnt save $2.78 a day? Even someone flipping burgers at Mc Donalds could find $2.78 a day to invest. In other terms, its forgoing a Starbucks latte a day. The law of accumulation is clear and easy to apply.

We have a coaching client who took this challenge of the law of accumulation very seriously. He committed to calling his sphere and past clients and making ten contacts a day. After eight months, he had almost tripled his income from the previous year. He more than doubled the number of units sold over the previous year. His edge was that, in those eight months, he could count on one hand the number of days that he failed to hit his ten contacts per day goal. We must be faithful.


The Last F is Finish:
Finish what you start. You have to run the whole race all the way to the finish line. No one remembers who was ahead at the 90-meter mark of a 100-meter race. The winner at 90 meters has to win in the last 10 meters, or hell lose the reward. Finish strong, finish focused, be faithful to yourself, and finish! Dont accept anything less than going all out at the finish of the race. If you make a goal of five contacts a day, dont do four. Do five! Dont accept anything less than the goal you have set. Accept nothing less than your best.


We can all learn to prospect more effectively. Make sure that you find the place and the time.
Dont dwell on past failures; forget them. Be determined to fight for your time and fight for your focus. Create and follow a great plan of action. Be faithful to yourself and to your clients and family, and finish what you start. You will find success knocking at your door in a short period of time

If you or someone you know is looking to buy or sell a home in Frisco, Plano, McKinney or any of the communities in Collin and Dallas County, then contact Realtor David Raisey at www.RaiseyRealEstate.com

Dallas-area homebuilders suspend operations, leave buyers in the lurch

The worst housing market in generations is taking a big toll on the local homebuilding industry.

More than two dozen builders have suspended operations in the Dallas-Fort Worth area, analysts estimate, leaving some homebuyers and new owners in the lurch. 

A sign advertising a grand opening event for Wall Homes remains outside the Glenwood Trails subdivision in Plano even though the offices and show homes are closed.

James Sharp is working with lenders and his builder, Sotherby Homes, to get the Plano house he’s buying finished.

“It’s under construction and more than 80 percent complete,” Sharp said. “We are trying to come up with some kind of resolution.”

A bank foreclosed on the partially built house after Sotherby Homes suspended some of its operations. The foreclosure was on the builder, but Sharp has earnest money tied up in the deal.

Sotherby – a longtime, well-regarded local builder – ran into problems when lenders cut off additional funding.

The same thing happened to Arlington-based Wall Homes, which filed for bankruptcy last weekend.

“Our intentions are to complete homes under construction and continue to sell, build and close homes,” chief executive Steve Wall said. “Meanwhile, our intention and business goal is to work out resolutions with our banks and construction vendors that lead us to a successful reorganization and prepare us for a busy spring selling season.”

Dallas housing analyst Ted Wilson said that even builders who don’t make business mistakes can be shut down when they can no longer borrow money. In some cases, lenders are even demanding repayment of loans that are in good standing.

“You can have the best-run company now – good product in good locations – and all that’s out the window,” said Wilson of Residential Strategies Inc. “At the peak of the market, we probably had 80 or so production builders in the Dallas-Fort Worth area.

“We probably have lost 25 or so of those already.”

Jobs are being lost, too.

“Layoffs have been rampant throughout the industry,” Wilson recently told a meeting of real estate execs. “Not a day goes by that I don’t hear from someone who’s out of a job.

“We could more than fill this room.”

More dark days

More builder bankruptcies and closings are expected this year.

The National Association of Home Builders estimates that 20,000 homebuilders nationwide – almost one in 20 – have gone out of business in the last two years.

Part of the shakeout is due to slower demand.

In North Texas, new home sales have fallen by more than 40 percent since 2006, and single-family home starts are at the lowest level in close to 20 years.

And even though builders have cut back on speculative home construction, lenders are still tightening further.

“With the credit crunch, the lenders are looking to reduce their exposure to real estate,” said David Brown of housing analyst MetroStudy Inc. “We have seen some lenders say they are no longer going to be in the residential construction business.

“They are choosing not to renew lines of credit, and those that are staying in the business want to reduce their exposure,” he said. “It’s making it tougher for builders to get the financing they need.”

That’s what happened to Sotherby Homes, which has been in business for 14 years and builds about 300 houses a year.

In December, the company suspended many of its operations and let workers go.

Sotherby “remains in consultation with various banks to see whether it can complete sold homes,” a spokesman said this week.

D’Ann Petersen, a business economist with the Federal Reserve Bank of Dallas, said “some banks and lenders are very wary of adding to their share of real estate loans given the current situation.

“How much of that is based on their own precautions vs. how much of that is being suggested by regulators is hard to know,” said Petersen, who made her comments based on Fed surveys. “Very few real estate deals are being financed currently.”

In some cases where builders have gone out of business or filed for bankruptcy, homebuyers have lost upfront money or have had liens filed against their homes by unpaid subcontractors.

“Sometimes you can’t tell until it’s happening, which is frightening,” said Jeannette Kopko of the Better Business Bureau of Metropolitan Dallas.

In 2008, the number of complaints against builders received by the Dallas Better Business Bureau rose almost 40 percent. But the number of inquiries about builder reliability was down, Kopko said.

Before buying a house, consumers need to “do their homework,” Wilson said. “The builders with the stronger financial records are the ones you want to focus on.”

Even that is no guarantee.

“Builders that are in good shape are signing contracts and can’t get construction funding,” said Bob Morris, head of the Home Builders Association of Greater Dallas. “And builders with contracts that have started construction have had lenders shut them down.”

Membership in the local homebuilders organization has fallen by about 15 percent from its peak, he said.

TIPS

Research the builder. Ask your builder if it is a member of the Better Business Bureau and check the builder’s record. Ask the company if it has any outstanding complaints. You can also request this information through public records from the state attorney general.

Read your home warranty before you buy. Ask your builder for a copy, and make sure you understand what is covered.

Research your warranty. Ask your builder if the warranty is financially stable and how you can research the information.

Have your new home inspected. Have an independent inspector inspect the house during all major phases of construction.

SOURCE: HomeOwners for Better Building

BIG BUILDERS

The top Dallas-Fort Worth homebuilders:

Builder

2008 home starts

1. D.R. Horton

1,892

2. Legacy-Meritage- Monterey Homes

1,112

3. Centex-Fox & Jacobs-City Homes

881

4. Highland-Horizon- Huntington-Sanders Homes

838

5. K. Hovnanian

593

6. David Weekley- Custom Classic Homes

586

7. Choice-Parkmont Homes

581

8. History Maker Homes

577

9. First Texas-Gallery- Harwood Homes

547

10. Lennar Homes

542

11. Pulte Homes

495

12. Ryland Homes

489

13. Grand Homes

432

14. Coventry-Pioneer- Plantation Homes

355

15. Wall Homes

354

16. Beazer Homes

337

17. Drees Homes

323

18. Mercedes-Vintage Homes

273

19. Standard Pacific Homes

268

20. Darling Homes

263

SOURCE: Residential Strategies

To see some of my listings you can go to http://cbdfw.com/agent/proplist.asp?CEQ_AgentCode=0470549

Or you can contact me from my main website at http://www.raiseyrealestate.com/

Hello world!

Welcome to Friendster Blogs. This is your first post. Edit or delete it, then start blogging!