Prospecting – Financial Advisors, Accountants & WMA’s

We’ve put a great deal of effort into tracking local real estate markets by comparing year-over-year data as a way of predicting trends for the future. How can we maximize the benefits of having this knowledge?  We can give the information to our farm, sphere, past clients, advocates, buyers and sellers, but why? All of these groups have a vested interest in knowing what will happen with the market for several reasons:

• They own a home and should know if they’re losing money. (It’s called Consumer Confidence.)

• They’re renting a home and would like to know when affordability will change.

• Their net worth, ultimate financial security and retirement are directly impacted by the trends.

• The real estate market has a direct impact on the economy.

• The recovery in new construction will lead to more jobs, decreasing the unemployment rate.

• Their careers and business won’t improve until real estate recovers.

• It helps to know for business planning purposes, i.e. hiring, inventory purchases, equipment investment.

 

 

In other words, it makes complete sense for everyone to have a serious interest in real estate trends because they impact every facet of our lives.

 

Individuals who will benefit most from this information are those who are analytical by nature. Consider wealth management and financial advisors, financial planners and accountants. This group can help you achieve great success in real estate. Why?

• They are among the most trusted advisors in their clients’ lives.

• They typically know everything about their clients.

• Their clients always ask for their advice before making any big money decisions.

• If they perceive you to be an informed professional, they will refer their clients to you.

 

 

Best of all, it’s easy to prospect with this group.  They can be reached during the day, there is no such thing as a “do-not-call” list, and dropping by their office can be very effective. Just put the quarterly reports in an envelope and attach a letter that says:

“Please review the attached Quarterly Real Estate Report. If any of your clients have asked your opinion on buying or selling, you may want to consider the data before you advise them. We have seen significant price appreciation this past year. I also prepare a monthly Real Estate Trend Report for a number of local analysts, and I would be happy to mail or e-mail you a copy each month.”

 

This approach can also be used face-to-face with this group. If you have to leave a copy at their office, be sure to hand address the envelope and stamp “Confidential” on it.