Prospecting – it’s the life’s blood of success in any sales business, and potentially even more so in commercial real estate. No matter one’s level of market presence, raw ability, and required discipline, asking for a prospect’s business is one of the key components to the industry’s top producers.
In the Massimo Group’s annual National CRE Brokerage Survey, over 80% of respondents stated they prospect sporadically, or simply when they can. 7% suggested they do not prospect at all and only 11% responded that they have a consistent and comprehensive targeted marketing campaign.
However, the real interesting information can be found when breaking down this data.
3 key CRE prospecting trends:
1) The higher the income level of the respondents, the more likely they were to have a consistent and targeted prospecting campaign. Gee- consistently make more calls – consistently make more money. Seems pretty simple.
2) The greater the tenure in the industry, the least likely one is to characterize their prospecting as “sporadic”. More so, those with greater tenure are least likely to respond that they “do not prospect”. Seemingly those with the longer tenures truly recognize the value of prospecting.
3) There was little, if any, discrepancy across the board related to prospecting, if you were affiliated with a national firm or with an independent firm.
Do you still think prospecting is not a priority? Our survey shows those that have a consistent and comprehensive, targeted prospecting effort make more money and, more importantly, have pipelines characterized as being of high quality, high probability opportunities.
If you are struggling with your prospecting efforts or not getting the results you desire, please click the button below and download the audio clip on the topic of having an enhanced prospecting campaign.