QUESTION OF THE MONTH
READERS TELL ALL:
Cold Calling, Marketing Gimmicks, Flubs, and Closing Gifts
Compiled by Christina Spira
In January we expanded Question of the Month to solicit your best and brightest sales ideas. After sifting through a mound of faxed submissions, we found, happily, that few people had the same responses. So you're sure to find something here that'll suit you and your market. And you'll get the benefit of your colleagues' experiences on pitfalls to avoid.
Best time of day to cold call and why
*Saturday morning. Most people are home relaxing. I get a lot further then than during the week.--Rhonda Lentini, Cromwell, Conn.
*In the morning. Most people are willing to listen.--Michael Forbes, Pinckney, Mich.
*Between 6 p.m. and 8 p.m. Dinner is usually over, and people have had a chance to relax.--Monica Atwood, Santa Fe, Texas
*11:30 a.m. My business is in rural properties, and by then farmers' morning chores are done and lunch is ready.--Paul N. Sidio, Springfield, Mo.
*Sunday at 7 p.m. People have had the weekend to unwind.--Carol Roy, GRI, Holyoke, Mass.
*Evening, because every other salesperson has already called and left a message that the consumer won't return.--Jeff Mays, Richmond, Va.
*Most people you reach during the day don't need two incomes to make mortgage payments or are retired and have equity to work with--and therefore are good prospects.--Terri Dillon, Chula Vista, Calif.
*Never. People hate it.--Sherry Schroeder, Barrington, Ill.
Best reason to walk away from a listing
*It's overpriced, according to 60 percent of respondents.
*One spouse wants to sell, but the other doesn't.--Paul N. Sidio
*A big dog.--Ed Birdsong, Lake Jackson, Texas
*Sellers expect you to have a 100 percent ability to sell their house. If they don't understand that salespeople need their assistance in maintaining the property, facilitating showings, and setting a realistic price, their house won't sell.--Terri Dillon
*There's never a good reason. Answer objections, solve problems, and get the listing.--Nancy K. Hocking, Rochester, Minn.
Most unusual place you've prospected
*Funeral home.--David McIlvaine, Columbia, Md.; Margaret Rehma Boulch, Jefferson City, Mo.; and Michael Forbes
*Airport while picking up friends and relatives.--Sharon Crawford, Toledo, Ohio
*Hardware store.--Monica Atwood
*Horse or dairy cattle sales.--Paul N. Sidio
*Fire scene. I'm a volunteer firefighter.--David Gaylord, Livonia, N.Y.
*At the boat and vacation show here in January. I was the only practitioner with a booth there.--Nancy K. Hocking
Most original marketing gimmick you tried within the last year
*Sent Monopoly houses to buyers planning to look at homes. Included the note "Hope you're looking forward to your househunting trip."--Billy Rich Jr., Elizabeth City, N.C.
*Because some people get passed over on Valentine's Day, I bought flowers, attached my business card and a Valentine's note to them with a ribbon, and had students deliver them to people's doors. Response was wonderful. Some women said their husbands never remember them on Valentine's Day.--Monica Atwood
*Held quarterly demonstration seminars for buyers at a local Sam's Club. Besides talking about buyer agency, I had affiliated professionals speak about or demonstrate what they do. A pest inspector brought different types of wood damaged by various insects, for instance. These and other service providers, such as a title attorney, a lender, and an inspector, helped defray the ad costs, which ran about $300-$500.--Bonnie Spetzer, State College, Pa.
*Ran ads on place mats at local restaurants. It's been good for name exposure.--Michael Forbes
*Took Polaroids of trick-or-treaters and slipped the pictures into photo jackets that had an ad for me on the back. Then the kids could take the photos home to their parents.--Carol Roy
*Provided locals with payment return envelopes, since a local utility company doesn't include them with bills. My picture, name, company, location, and phone are on the back of the envelope, so people are reminded of me 12 times a year.--Ed Birdsong
*A cookout at an open house.--Robert Buckler, CRS®, GRI, Louisville, Ky.
Biggest flub during a listing presentation
*Commented about the old siding, which was actually new.--David McIlvaine
*Said I didn't do open houses. Now I first ask sellers what they want. I'm willing to do three in a six-month period.--Rhonda Lentini
*Called the seller by the wrong name.--Michael Forbes
*Thought a prospect's much younger wife was his daughter and asked when her mom could sign the papers.--Paul N. Sidio
Easiest way to lose a deal
*Focus on your commission.--Ed Birdsong
*Not following up, say 17 percent.
*Getting emotional, say 13 percent.
Best closing gift under $25
*Newspaper subscription.--Sharon Crawford
*Bird feeder.--Michael Forbes
*Quilt with customer's, salesperson's, and company's name.--Ed Birdsong
*American flag.--Jeff Mays
*Send complimentary pizzas and drinks to the buyers the day they move in.--Terri Dillon
*Along with a closing gift, I give buyers and sellers a three-ring binder filled with 81/2-by-11 copies of the paperwork generated during the entire transaction. And I categorize everything--contracts and addenda, disclosures, termite report. It makes a huge impression. People can throw away the piles of paper they've accumulated, knowing they have everything in one place with all the appropriate signatures.--Pat Jordan, CRB®, Palo Alto, Calif.
Best closing gift over $25
*Maid service.--David McIlvaine
*Weekend getaway package.--Monica Atwood
*When a buyer's move-in was delayed, I arranged for workers to harvest his hay crop but couldn't find anybody to haul the bales to the barn. My girlfriend and I hauled and stacked 250 bales ourselves.--Paul N. Sidio
*A watercolor of downsizing seniors' former home.--Carol Roy
*Gift certificates to a hardware or home improvement store.--Terri Dillon
Smartest thing to do with $1,000
*Buy mutual funds.--Rhonda Lentini
*Make a commitment to implement a marketing plan by putting the money toward a color printer or desktop equipment.--Monica Atwood
*Put some gas in your car and go see people. If you spend enough time visiting and prospecting, you'll get business.--Paul N. Sidio
*Hire more assistants to prospect, or use as a bonus for a buyer's agent.--Terri Dillon
Best thing to keep in your car trunk
*Rubber boots if you sell property with a lot of land.--Monica Atwood
*Construction cones. You never know when you might need to reserve your parking spot.--Bonnie Spetzer
*A Bible.--Sherry Schroeder
*Dog treats. On a listing appointment, the dog will want to list with you before the sellers do. During showings, a treat can calm down a nervous dog.--Pam Miller Howard, Dayton, Ohio
*Nutritional snacks.--Margaret Rehma Boulch
*A 25-foot tape measure. Clients love it when they can measure rooms on the spur of the moment.--Pat Jordan
Best reason to work for a particular broker or company
*Name recognition and reputation, say 27 percent of respondents.
*Integrity and fun.--Ed Birdsong
*Financially sound, with superior management.--Debra Duvall, Stuart, Fla.
*Relocation department.--Janet M. Sanchez, San Jose, Calif.
*Open-door policy for discussion.--Norbert G. Huston, Stockton, Calif.
Biggest mistake most salespeople make
*Quitting.--Monica Atwood
*Eating, sleeping, and drinking real estate. People get burned out quickly.--Terry Pluta, Glassboro, N.J.
*Not being prepared or educated.--Norbert G. Huston
*Forgetting to thank clients, ancillary service providers, or the co-op salesperson for a transaction.--Terri Dillon
*Thinking they'll make money without a serious time commitment.--Carol Roy
