EPMEPM: BD & Growth

The Three Prospects You Need To Know

Meeting with a potential client for the first time can be an unnerving experience. We can find ourselves being overwhelmed with fear and excitement at the same time, but understanding client personality types will help. Tara Bradbury explains.

Before, during and after meeting a possible new client most of us will go through the same questions in our head, including:

  • Will they like me?
  • Will they see value in what we offer as an agency?
  • Will they question our fees?
  • If they don’t sign today does this mean I have missed the opportunity?
  • Have I missed anything I should have covered in the meeting to get them across the line?

The list can go on, and the more time we spend over-thinking the above questions the more exhausted and demotivated we become.

What’s the solution?
Before the meeting make sure you do your homework and go in as prepared as you possibly can. Make sure you know the types of questions you want to ask and remember always to be relatable. You can do this by asking initial questions over the phone prior to the face-to-face meeting, collecting as much information as you can about the property and the area.

Make sure you have all recently leased listings (all agencies, not just your own) top of mind and ready to share in case you are put on the spot. This will show you have a finger on the pulse when it comes to the market.

I’ve found that most prospects will have one of three different personality types: the concerned client, the convinced client or the complacent client.

The concerned client is entering the meeting with fears and past issues that they may or may not share with you upfront. Be sure to ask plenty of questions, because if you don’t during the meeting they will leave wanting to find someone who will.

The convinced client is someone who knows they could do with the help, but they’re not always easy to get across the line because they think they already know everything. In most cases, you have initiated the meeting so do your research.

With a convinced client, I find it’s best to try to educate (not dictate) when it comes to giving advice on how they should move forward. They generally don’t like being told what to do and can be easily offended.

However, the complacent client is prone to sitting back and letting the world go by until they are hit with a problem. These clients can be more understanding of mistakes, but they can be easy to convert as shiny new things easily distract them. The complacent client will put full trust into those they see as experts but are reluctant to make quick decisions, so don’t be surprised if you don’t sign them on the day.

All three personality types share the same opportunities for conversion, but each one of them needs a tailored approach and regular contact. Regardless of which personality they are, they will all be affected by first impressions of you as well. Follow these easy steps to woo them from the start:

  • Don’t turn up on time, be early! Aim to be five to 10 minutes early.
  • Park on the street and not in the driveway, as you don’t want to be interrupted during the meeting.
  • Make sure you know all the owners’ names prior to the meeting and how to pronounce them.
  • Greet them with a confident handshake.
  • Ask to be shown through the home and always offer to remove your shoes.

After you have gone through the above, ask, ‘What is most important to you when selecting an agent to manage your most valuable asset?’.

This will often raise any insecurities they may have, including bad previous experiences. This allows you to ask more questions and confirm time frames.
The main goal is to leave the meeting with an agreement signed, or an understanding of what they need to do to take the next step. It is okay to leave the meeting without a signed agreement but not without knowing when you will next connect.

Follow-up is one of the most important keys to becoming a successful BDM, and those who are at the top have a very strong and diligent process when managing a successful database.

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Tara Bradbury

Tara Bradbury is the Director of the BDM Academy sharing her business development ideas and strategies with property management BDM’s and Principals. For more information visit bdmacademy.com.au.