The Power of Working With Real Estate “Orphans”
Calling “Orphans” is a service strategy that is a differentiator for agents that helps the agent, the broker, the company and the consumer!
In most brokerages, there are files of past closed transactions that were handled by agents that are no longer with the organization. Here, at Power Headquarters, we call those ‘orphans’. And like orphans, these clients need someone to take care of them!
Giving the Orphans a Home!
Here’s a step-by-step guide to re-invest your efforts and nurture those contacts for now and future business. There’s never been a better time to take advantage of EVERY opportunity to drive listing leads, and these orphaned clients are a perfect place to start. This strategy helps you, your broker, your company, and the customer.
Step One
Meet with your broker and see what orphan files might be available from the last 1-5 years. There may not be a lot, but there will nearly always be a few, and a few is all you need to get started.
Step Two
Get permission to send a letter from your broker explaining that you will be the one now servicing those clients for the company. (Power Agents®, you’ll find the word doc for this in Prospecting.) An alternative to the broker letter is to customize and have it come from you and explain that you’ll be taking over service from the prior agent on the company’s behalf.
Step Three
Follow up with the suggested dialogue in the video. Power Agents, you’ll find a copy of the dialogue in the Prospecting Tab of your classroom under Dialogue Orphan Adoption. Using metaphors and analogies is also a powerful way to establish trust in the early stages of the relationship.
Step Four
Build rapport with this new client, and offer a free updated annual Comparative Market Analysis report. This is your opportunity to explain that this report should be treated like we treat our physical health, by getting annual check ups! Plus, it’s just a good idea to know the value of your home from year to year.
Step Five
Set up a campaign using your CRM to follow up with these folks every few months via email, snail mail, or in person (hello, Smile Stops!). The goal is to develop a relationship with them and transition them from prospect to your sphere of influence.
Let’s Get Creative!
Getting creative with your prospecting strategies in a market that continues to be crazy-competitive is the mark of a savvy business professional. What can you do to continuously bring value and raise your exposure in your area? How can you differentiate from your competitors? How can you promote yourself as the service provider that makes the most sense for buyers and sellers? Getting the right answers for your business often starts with great questions like these.
Lifelong Learning
It’s no secret that this industry changes constantly, and as agents, we need to keep up with those changes and adapt. Knowing where to find the leads, and how to win them over is the key to staying competitive.
What’s Next?
Getting creative with your prospecting strategies in a market that continues to be crazy-competitive is the mark of a savvy business professional. What can you do to continuously bring value and raise your exposure in your area? How can you differentiate from your competitors? How can you promote yourself the service provider that makes the most sense for buyers and sellers? Getting the right answers for your business often starts with great questions like these.
Keep learning and growing in mindset, tools, strategy, and skills. That’s what we are here to help you do!
Power Agents®, you’ll find the dialogues and letters for calling Orphans in the Prospecting and Farming tabs of your classroom!
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