Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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To prospect or not to prospect....

Mike Ferry tells us there are three ways to get business:

1.  Wait for it to come to you

2.  Buy the business

3.  Prospect for it

Choice Number 1 could be defined as Floor Time, Open Houses, someone you know providing a referral out of the blue.  Not destined to create significant production.

Choice Number 2 can be defined a couple of different ways:

a) Spending a ton of money on marketing and advertising and internet leads and.......getting enough deals out of that to hopefully at least pay for the marketing and advertising expenses, or

b) Paying referral fees to other REALTORS or Relocation Companies - this option as part of your revenue stream makes sense - as it is incremental income you would not otherwise have had - and it only costs you if there is a closed transaction from which you also reap revenue.

Choice Number 3 - the feared "P" word.  Prospecting.  It's not so bad to call your Past Clients and Sphere of Influence - although you would be amazed how many REALTORS don't do that - but calling on FSBOs and Expireds is anathema to the vast majority of those in the industry.

So for those of you who haven't tried it, and don't think it works, but really need a deal or two this month, here is a story for you to contemplate.

Once upon a time there was a REALTOR who attended a Mike Ferry Super Star Retreat and signed up for 1 on 1 coaching at a whopping $1,000 per month.  This REALTOR listened to their coach, and debated the wisdom of what they were being told.  Eventually, about 4 months into the coaching program, they decided to "prove" that this calling on FSBOs nonsense didn't work and couldn't work.  They grimly started to place phone call after phone call to FSBOs, expecting and getting "rejection" from most - but there were a few that they couldn't reach by phone.  And they did get one appointment about 35 miles away by using their scripts to the letter.  That weekend they drove to those FSBOs they couldn't reach by phone, and knocked on the doors.  After completing that task, they headed to the sole appointment they had made by phone. 

During the course of that weekend they took THREE LISTINGS from FSBOs and over the next two weeks took SIX MORE for a total of nine listings.  And the two weeks started the weekend before Christmas!

Needless to say, this REALTOR realized that they had missed out on four months of listing opportunities because they refused to listen to great advice that they were paying a pretty penny for!

Oh by the way - this same REALTOR listed a FSBO this past Friday, December 1.  And I plan to list many more before we ring in the New Year!!

Yes - I was the REALTOR that knew better - but now I know better!

About the Authors - Updated 2018

If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.

Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!

Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty

Associate Brokers, REALTORS
BVO Luxury Group
Keller Williams Arizona Realty
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