PROSPECTS TIME LIMITS IS CALLED THE "THE PROSPECTS SHELF LIFE"
It is determined by the type of business you are in. (page 31)
___ Prospecting has a certain "Shelf life" depending on the type of business you are going after.____
Shelf Life Of A Prospect
A shelf life of a prospect varies with the type of business application you seek to get business from.
Real Estate the “Shelf Life” of a prospect is:
1. Expired listing is relatively short because a prospect will usually read list their home with the same agent or with a new agent and company. Scripting focuses on the “Time” Element.
2. Notice of Defaults have a shelf life of just a few weeks because when a homeowner doesn’t pay their payments for three months, the bank will send A Notice of Default. The Notice of Default exhilarates the mortgage and declares it due and payable in full. Scripting focuses on the “Time” Element. It is a legal occurrence that puts the homeowner on notice of an impending foreclosure. For the real estate agent, prospecting the Notice of Defaults is done upon a legal notice filed in the county that the property is located in. It involves convincing the owner to put the home on the market and in some cases requesting a “short sale” payoff from the bank.
3. Foreclosures, are homes that are owned by the banks and the shelf life of the prospect (banks) are ongoing. Prospecting the contact at the bank is a “high relationship” type of “business relationship.” There is usually a limited number of possible business contacts that are assigned to foreclosure properties, known as REO’s or “real estate owned.” Scripting focuses on the “service” element.
4. For Sale by Owners have a shelf life of two weeks to three months on average. The source of a For Sale by Owner is usually a classified ad in the newspaper. From the first ad that is published, it is important to make contact and build a relationship with a homeowner. Scripting focuses on the “service” and “money” element.
5. Cold Call and Farming prospects have an indeterminate and unlimited shelf life. It is a high relationship, trust building and local expertise relationship that is desired. The prospecting aims to establish an ongoing communication. Scripting focuses on the “service” element.
The following prospects have an indeterminate and unlimited shelf life:
It is a high relationship, trust building and local expertise & relationship that is desired.
The prospecting aims to establish an ongoing communication. Scripting focuses on the “service” element. A contact lead card should be filed with some sort of coding indicating the quality of the prospect as well as the time that the prospect intends to buy the product or service.
7. Commercial Real Estate - Lease Owner prospecting
8. Commercial Real Estate - Sales prospecting
9. Business - Prospecting for Sales of Services
10. Business - Prospecting for Sales of Products
11. Financial Services - Financial Advisors - Financial Planners
12. Woman’s Financial Services - Financial Advisors - Financial Planners