Bring Life to Your Business Using These 3 CPR Methods

 

Is your business flat-lined? Does your Pipe-Line look more like a Sewer-Line?

These three CPR methods can pump life back into the heart of your Real Estate Career!

 

1.     Current Prospecting Re-Commitment:

Many Real Estate Businesses would greatly improve if we would just recommit ourselves to daily prospecting activities. 1-2 hours per day, 5 days a week, dedicated solely to looking for new business and filling our pipeline. This alone will turn a sluggish business into a thriving one. Time Management and particularly “Time-Blocking” becomes the corner-stone of this CPR step. Schedule an appointment each day you plan to prospect for the time allotted for business building, and keep the appointment no matter what! Become self-aware of your business activities and self-accountable to yourself. 

2.     Current Prospects Re-Grading:

Once you start to see prospects filling your pipeline you need to re-grade each one of them on a weekly basis. This process will force you to know where each prospect is in their buying or selling process. Even though Bill and Mary Smith stated they were 5-6 months away from a purchase, something may have happened this week to move their time-frame closer. You have to stay front of mind with each prospect or when their time comes they may choose to use someone else.

Use the “Pipe-Line Management Radar” PMR© to visually show where your prospects/clients are in the process.
Click Link to go to PMR
Use the Radar to track the current position of your prospect/client in the 90-30 day time frame…the center of the radar is the projected date of written contract (listing or purchase)

You can also use the radar to track your current listings and when you project them to go pending or close.

The chart below the PMR can be utilized to show actual names of prospects and commission amounts attached to each when they close. This allows you to manage your projected income…or in some cases “lack there-of”!

3.     Current Prospecting Returns:

The third phase of Prospecting CPR is knowing what is working and what is not. There are many forms of prospecting activities… We advocate the top four: Face to face “pop-by” contacts, Personal Phone Calls, Hand Written Follow-up Notes, and Items of Value Electronic Campaigns. Track each activity you do separately for cost/time verses return. 

Each prospecting activity is wasted time unless you remember to ask for the referral during the activity. Proper dialogue is critical to your prospecting success…Practice, Practice, Practice so you will feel comfortable knowing what to say and when to say it…(Coaching Tip: The dialogue sound like you, make it your own…you will feel more comfortable saying it) 

Hopefully these ideas will help you to focus on your business building activities and turn your pipe-line into a constant flow of qualified buying and selling prospects!

Eddie Brown ©2013