How To Prospect In A Slowing Market
Are there less property owners coming to you for an appraisal? Find out how you can generate leads from the data you have accumulated in your database over the last few years.
The real estate market’s been hot in Australia for the last two years and now that it’s slowing down in most areas, you’ve got to re-calibrate the way you work and prospect.
In a hot market, property owners come to you for an appraisal. You can choose to not proactively prospect and make outbound calls because there are enough inbound enquiries and you want to keep focusing on listing and selling.
In a changing market, there are less inbound enquiries. Less property owners come to you first, therefore, you have to pick up the phone and generate appraisal leads yourself. You actually have to spend time prospecting.
When the market was hot, you gathered a lot of data. New buyer data, new owner data. Apart from subscribing them to your mailing list, you probably couldn’t really nurture your relationships with them because you were super busy servicing current customers.
Right now, that data has some really good opportunities. You just need to put some processes in place to mine for gold. And the way to do it is not by doing it yourself, manually, because you still have to service your current customers, but by getting an Ai digital assistant like RiTA
to do it for you, on your behalf.
Let’s say over the last two years, you added 1,000 contacts to your database. That’s a lot of data for one person to call. Even if you had a team, that would still be a lot of calls to make. But with RiTA, the number of calls is cut down after having her qualify those contacts on your behalf and identify leads. So, when you need to make a call, you know it’s a phone call that matters because the person on the other end has asked for your expertise.How does RiTA engage with the 1,000 contacts?
Most of these recently added contacts are buyers. It’s important to nurture buyers. Why? Because those who got in contact with you a year or two years ago would have probably purchased. So you need to know where they bought and update your data, they’re now property owners. They might have bought during low interest rates and now that they are forecasted to go up, they might need to sell. You’ve got to get onto them first.
Buyers who bought investment properties – it’s the same process. You’ve got to understand where they sit now in this changing market. Are they looking to keep their investments or sell?
Buyers who are still looking – update their buyer requirements, see if you have any properties that match because buyers will have more power and you need to help your vendors sell at the right price.
The types of conversations you have now are crucial. Let RiTA have them on your behalf, at scale, so that when she passes on hot leads, you can have valuable conversations with them.
Real estate coach Tom Panos released a guide that contains 19 scripts and dialogues you could use in this changing market. Click here
to get a copy.
If you are interested in automating prospecting and continuing to grow your business in this changing market, contact us,
as RiTA can help you generate consistent leads and get better data.