The POWER of Circle Prospecting in Real Estate

Wouldn’t it be amazing if you knew exactly what direction to go in for the highest success possible in real estate? I mean if you had the most efficient recipe to get to the top of the mountain, you could give what ever that is a 100% commitment without worrying about if you are wasting time or “If you doing the right thing?” The current state of real estate training is filled with so much garbage clogging our news feeds tying to get us to sign up for the newest “no-lose” system, it’s really tough for newer agents to weed through it all and find what really works. The most common story I get is that agents try it all and spend lot of money and never get anywhere with any of it. From what I can tell, most of it is geared around FSBOs, Expireds and Internet/Social Media Leads. All which can be very successful paths to success. My question is, “Why isn’t Circle Prospecting in the mix?” I have built my entire business on Circle Prospecting and feel that it is by far the most efficient way to build am incredibly successful real estate business.

Why Circle Prospecting?

The definition of Circle Prospecting is cold calling targeted property owners of niche property around market activity in the attempt to create a lifelong relationship (not to create a transaction). The biggest pushback I hear when I am teaching this is that circle prospecting is for future business, not business in the near future. WRONG! When calling a subdivision or complex circle prospecting for business, your first objective is to ask for business today. Only after the property owner tells you that they are not ready to buy or sell in the near future will you proceed with the backup plan to create the lifelong relationship to secure all the future business that prospect will do in their lifetime. Can you think of a more efficient way to build a real estate business? Call property owners, who can buy or sell, and if they aren’t ready to move forward today, you start the process of building report with them forever so that you can help them when they are ready. This low-pressure approach to the highest quality prospects in your market will create a seven-figure business that will survive any market crash with the lowest overhead. Trust me! I just went through the worst real estate crashes in the history of the US and lost every penny I owned. This is what I learned during that time and is why I am the #1 agent on the Alabama/Florida Gulf Coast.

How do you Capitalize? 

Number one. Get started. Take action. Most agents sit around trying to learn how to be successful and never take a single step towards working up the ladder of success. Secondly, get your mind right. Develop the correct mindset around the understanding that the deals are made in the relationships, not the deal itself. You also have to gear yourself into believing that property owners are the highest quality lead in any market. Not internet leads, right? Are you chasing internet leads? How is that going for you? Owners have the ability not only to possibly sell, but also to buy. They are a dual purpose lead as opposed to a lead that is only geared towards possibly buying. FSBO’s and Expired/Withdrawn Listings are getting hammered by every new agent in town. This creates a situation where the owner has a guard up for real estate agents (even if you are the real deal, its tough). And, these situations are very high pressure. Hard to create a strong relational foundation. On the other hand, circle prospecting puts you on the phone with property owners who are not getting hammered by other agents and are glad to hear from you. They are eager to hear what the market is doing and are more than willing to begin a relationship and allow you to stay in touch with them for the long haul. Then, of course, it is up to you to put a system in place to stay in touch.

The first action to take, once you get your mindset in order, is to pick out the group of owners you want to target and specialize in. Do this by doing market research in your local MLS and find out what type of properties or areas have the best turnaround. In other words, what properties sell the fastest for the most money. Pick your specific group of owners and start contacting them like crazy. If you want to use my real estate phone scripts that are helping 1000’s of agents all over the world dominate their prospective markets, you can do so by becoming a member of our coaching program HERE. I will work with you to make sure you have everything you need to be the #1 agent in your market.

Ricky Carruth, RE/MAX of Orange Beach, AL

 

 

 

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