One strategy for phone prospecting is to just take the shot by asking for business. This can be accomplished by asking something like this: “Mr. Homeowner, this is Joe with XYZ Realty. We just sold a home down the street. I have a number of buyers I’m still working with. Do you know of anyone that’s interested in selling their home?”
This approach can also be used with people you know by changing the “We just sold a home” to “I’m growing my business and I need your help.” Although this approach can be effective to get new business, if the person you’re talking to doesn’t know anyone, there’s no strong follow up other than making another contact in a couple of weeks. The take the shot approach limits your appeal to just buyers and sellers.
The beautiful part of using recaptured equity to prospect is that it appeals to every buyer and every homeowner. It is also a very effective way to get all contacts to buy into receiving regular information from you. This approach can be used as follows:
To Set up a Face-to-Face – “Hi Joe, this is Mike. How’s the family? (more small talk) We haven’t seen each other in a while and I have some great stuff to talk to you about. Let’s get together for a cup of coffee.”
To Share the Information Over the Phone – “Hi Joe, this is Mike. How’s business? (small talk) My business has been great. Are you aware of what’s been happening in real estate? I’ve got some really great stuff to show you. It could be great news. Are you by a computer? Have you got a couple of minutes? I’m shooting you an email. Can you take a look at the attachment? There may be a couple hundred thousand dollars in extra equity you don’t know you have in your home.”
In both cases, review the recaptured equity theory to present the possibility of the price of their home recovering. If you’re leaving a message, create sizzle by using the dollar number reflecting possible appreciation. For example, “Hi Joe this is Mike. I got to talk to you about $100,000 of equity you may have in you home. Call me right away when you get this.”