How to Pre-Qualify Your Prospects
Pre-qualify Prospects (and Referring Partners) so you can build your Real Estate Business.
For Real Estate Agents, Brokers, and Investors…
Generating new clients is the key to success in the business.
That being said, you want to make sure you are focusing on potential clients that are ready to move forward and not wasting time on those who are stuck in limbo.
When you are talking to a lead or potential prospect, ask yourself these 5 questions as a way to qualify them. If they meet all five, you have yourself a solid prospect.
You are on your way to doing business with them.
If someone doesn’t meet all FIVE requirements, they are probably not a good match. Your time would be best spent speaking to other potential clients.
One thing to keep in mind, especially when speaking with prospects, is that some of them will be very well off and others have been through a very difficult time and are going to be defensive. Always be as pleasant as possible and don’t take things personally.
Let’s break down the 5 questions…
1) Are they Cooperative?
When speaking with them, are they amiable and willing to cooperate? Although they may be stressed or facing challenges because of their situation (which is perfectly natural), are they on board and receptive to you and your message? If so great, if not or they get belligerent or angry with you, you probably don’t want to work with them.
Remember, if they are rude upfront they will probably be rude the entire transaction… and who wants to deal with that? (Not you)
2) Do they ACTUALLY need/want help?
Do they need help… and can you help them? Find out their “hurt” and show them how your product or service is the “cure”. The better and faster you can help them “solve their problem” or “find their answer” the better your sales conversions will be.
You are in this business to serve, so show them how you will best serve them and you will win the business.
3) Are they Realistic?
Do they have realistic expectations? Does the prospect realize that the current market may not be the same as it was few years ago? If financing is involved, do buyer prospects realize that loan programs are not the same today as they were 2 years ago… and do they qualify. In other words are they realistic with their plans and do they have the ability to move forward.
4) Do they communicate effectively?
Are they willing to have a conversation with you? Do they even answer the phone or have they been avoiding you for weeks? Are they short with you and give clipped one word answers, or do they provide dialogue and insight?
Follow the rule of three, once you have left them 3 emails and 3 messages if they do not respond throw the lead away and move on.
5) Are They Ready to Take Action?
Do they want to move forward anytime within the next 30 days? Are they motivated and ready to move forward now?
You are looking for people who are ready to take action now.
The more you spend time with people who are “looky-loos” or “tire kickers” the more frustrated you will be and the worse your results will be. Qualify them quickly and identity the ones that are ready to move forward with you now… and then work with them!
Qualifying your prospective clients quickly and effectively is a skill that is sure to bring you massive success in any industry.
To your success,
Co-Founder, Big Block Realty
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