266 7 Costly Mistakes Solo Real Estate Agents Make | #2 Prospecting 1 to 1 Grind (POTOG)
First, let's talk about the numbers, then talk about the toll.
The Numbers
How many clients and transactions as a solo real estate agent/lender can you handle per day/per month?
3-5?
How many calls or door knocks can you make in one day while managing your clients and transactions?
Maybe 50.
From those 50, how many contacts and conversations will you actually have?
A study from the Keller Research Center at Baylor University shows for every 209 calls made, one appointment was set or referral was received (a 209:1 call-to-appointment-or-referral ratio).
It also stated,
"Collectively, we see that it will take an investment of approximately 7.5 hours to complete 209 calls, leading to a return of one appointment or referral. If calls are broken-out across one workweek, agents can expect to make 1.5 hours worth of calls each day for 5 days to secure one appointment or receive one referral – a positive cold calling outcome.”
7.5 Hours of cold calling …. To get… One. Appointment.
Not one client.
One.
Appointment.
YIKES!!!
Get the mindset right!!!
So how many of those cold calling or door knocking appointments turn into actual clients?
What's your conversion rate? 50%? 25%? 10%?
Now you can reverse engineer your math.
You can see that it could take 400, 800, or even 1,000 calls/knocks to find a client.
*Keep in mind, this study was 2011. I think people today are less likely to answer a cold call and accept an appointment from a stranger cold calling them. What do you think?
The Toll
What goes on in your head after so many rejections? How do you keep showing up?
Prospecting One To One Grind slowly crushes your soul, discourages you and makes you second guess career choices.
Article: https://www.darinpersinger.com/blog/7-costly-mistakes-solo-real-estate-agents
Show Highlights Include:
The Numbers (0:50)
Darin shares the study from Baylor University (5:40)
The Toll (6:15)
SIMPLE SOLUTION from today’s Costly Mistakes Solo Real Estate Agents Make (6:38)
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