Realty Times October 2, 1998

Managers: Prospect for the Gold
by Joe Klock

Ask any first-line manager to prioritize the importance of prospecting to the sales associates in his or her office and it’s almost certain to be at the very top of the "to do" list -- and properly so.

Certainly, brand new people and those who are in a temporary slump need to concentrate on prospecting in order to get the production cycle started.

Real Estate is, after all, a contact sport, and nothing happens unless those contacts are made.

It’s equally important for successful salespeople to be always on the alert for prospective buyers and sellers, so managers are clearly justified in constantly stressing the importance of prospecting in the daily activities of their more advanced associates.

If you agree with the foregoing, please look at the following list of prospecting activities and delete any that you feel would NOT be an appropriate sales associate activity:

  • Farming
  • Spheres of Influence
  • Phone Contacts
  • Cold Canvassing
  • Mail and Follow-up
  • Past Customers
  • Niche Marketing
  • Advertising

Now, please go over the same list and ask yourself how many of these same activities would be appropriate for you as a manager in search of new associates. (Note, that we said appropriate, not convenient and/or comfortable.)

Just as you would criticize an associate for not taking advantage of every prospecting method on that list, you should recognize the fact that a manager who wants to succeed should pursue all of the same opportunities on a regular basis.

Furthermore, that day should be counted as lost during which a fair amount of this kind of prospecting is not done!

An added benefit: Your exhortations to the troops about scratching for new business will have infinitely greater impact if and when you can model the very activities you recommend, literally "walking the talk."

But let’s move on: In addition to the activities that we've sort of borrowed from sales associates, consider the other things could you do that might result in prospective recruits, including:

  • Career nights. (Schedule one on the same evening each week)
  • Contact new licensees or people taking the license examination.
  • Survey present and past custimers and clients who might be interested.
  • Speeches at service clubs and local educational institutions on real estate careers.
  • Articles in local publications on the same subject.
  • Targeting of experienced associates in other firms.

Like it or not, for the first-line manager, recruiting is JOB ONE -- and here’s why a constant influx of new blood is needed:

  • To offset losses in staff through termination, illness, burnouts, transfers and defections.
  • To improve the quality of the sales team. (You can always hire better people than the worst ones you now have)
  • To increase the overall productivity of the office (open new spheres of influence)

Championship teams have two things in common:

1.They consist of players of superior quality, and
2.Their rosters constantly change, and improve, even when they're on top.

Your organization is no better than the combined ability of its individual team members, and their aggregate best performances on the firing line set the upper limit of your loftiest goal.

Insanity has been whimsically defined as doing things the same old way and expecting better results. The same is true of expecting better results from the same team members or, worse still, hoping that their replacements will drift into the office unsolicited.

The bottom line is that recruiting is not a management option; it is an absolute necessity -- and no managerial obligation -- none -- is more important!

Furthermore, what’s sauce for the (salesperson) goose is no less sauce for the (managerial) gander!

Don’t just ask the troops to do as you say -- inspire them to do as you DO!



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