Turn Facebook Into A Prospecting Machine

By
Real Estate Agent with PRC Access Realty

If you are one of the 10's of thousands of REALTORS to already create a Facebook profile, you may be enjoying networking with your old high school friends, family and industry colleagues.  Facebook can be addictingly fun, and can take up an enormous amount of time in your day if you let it, but is it working for you as a prospecting tool?  Are you making money from the time that you invest 'playing' on Facebook.

Since NAR studies show that 74% of an agent's business will on average come from there sphere-of-influence (SOI), we at the Professional Realty Council (PRC) teach our agents ways to increase their personal (SOI) and mine it for more profitable business opportunities.  One of our methods is to maximize Social Media as a prospecting tool.  There are many things that you can do with Social Media, but here is one of the easiest ways to turn Facebook into a zero cost yet highly profitable money machine:

First, ask all of your clients in your initial interview what social media they participate in and how often.  This should become as automatic as getting their cell phone number and email address - it's that important!  For this example, let's assume that they are on Facebook.  You need to sell the next line, but sound excited and let them know that you are big on Facebook and ask if it would be okay to send them a Friend Request.  They'll say sure and now you are on your way.

You might wonder what the big deal is since they are ALREADY your client, right?  Well, here's the magic.  Think of Facebook as a Rolodex on steroids.  If you use any kind of address book, either on paper, Outlook, or Top Producer, etc., the address book is a static file that you use to look up information.  You also need to update it with changes as they occur (Plaxo members excluded.)  Also, it's a linear relationship between you and your contact, and is only of value if you reach out and make a connection via phone, snail mail, email, or in person.  Facebook, on the other hand, is an ACTIVE address book.  It automatically updates contact info in real time, you get a constant stream of everything that is being shared as important to your contacts, AND you get exponential access to all of the people that are important in THEIR lives.  All at your fingertips.  All for FREE.

Your second step then becomes once your Friend Request is accepted, you can view their entire Friend list (Depending on individual privacy settings, you may have access to this without even Friending them.)  When you are actively working with a client, or just completed a transaction, your relationship will be at it's highest point with your client.  Now is the best time to send a Friend Request to all of their friends.  You can do this with or without permission from your client, and with or without a personal message attached to the Friend Request.  It's important here to NOT sound like a REALTOR or salesperson, but rather just a friend wanting to network.

For each request you send, one of three things will happen: 1) They will see that you have a mutual friend and just accept you, 2) They will ignore you, or 3) They will contact your client to see if you are a good person to Friend with.  Of course, your client LOVES you right about now so they'll only say good things about you.  Also, the more of their friends that accept your request, the more mutual friends will be displayed - creating a bigger bond of trust as mutual friends are regarded as personal endorsements.

You can see how this can quickly and exponentially build your SOI by leveraging the goodwill that you have with your current clients.  The larger your Friend List, the more opportunities that you will have to receive warm leads.  In another blog post, we'll talk about content to drip on them via your Status Updates/Live Feed that will build your reputation as the GO TO resource for real estate in your community.

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Re-Bloggged 2 times:

Re-Blogged By Re-Blogged At
  1. Laurel Stone 11/30/2009 09:12 PM
  2. Hector G. Diaz 12/01/2009 11:48 AM
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Topic:
ActiveRain Community
Location:
Arizona Maricopa County
Tags:
facebook
friend requests
prc network
prc access realty
dennis rosvall
sphereofinfluence

Comments 48 New Comment

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Anonymous #44
Anonymous
Chuck Keller

Great article. I have several transactions directly from FB.  I think it's great to use and think of it as if you were entering a cocktail party and networking. It's the 2010 rotary meeting or chamber or commerce that I remember going to with my father.  You can stay on as little as you want, but like everything else, you have to work it. It's free, but it does cost time.  I think most realtors would agree their business really comes from their SOI.  Social networking is a way of keeping up with your SOI.  I find it interesting when I run into someone "in person" and they mention about some of my fb status updates or pictures, etc.  The subconscious here is they are talking and visiting with you.  You're making an impression and when they think of real estate, they will think of you.......if you stand out in their minds enough times.

December 02, 2009 11:33 PM
Rainer
117,186
Beverly of Bev & Bob Meaux
Where Buying & Selling Works
Keller Williams Suburban Realty

The thing is, as agents, when we play we are at work. That's the nature of the beast. I can be working in my front yard and someone might stop me and start talking real estate. It's just like facebook, someone may one day stop and say, she's in real estate, let me ask her or contact her. It all goes around.

December 10, 2009 05:53 PM
Rainmaker
107,496
Dana Devine
Charles Rutenberg Realty

i have  program Xobni  that when u send me an email it shows id you are on FB or not and from here I can be your friend

December 18, 2009 11:18 AM
Anonymous #47
Anonymous
Anonymous

I'm with Taylor on this one. I've had a Facebook account since 2004, and have accumulated almost 700 friends - almost all of which are actually friends, few professional. I've been trying to figure out how to turn this into something useful to gain transactions without "spamming" my friends. Thank you for your help on that front!

December 29, 2009 09:37 PM
Anonymous #48
Anonymous
Suzanne Asher

This is a wonderful post.  I have to seriously consider spending a little more time on Facebook.  I can't believe that I could potentially get business from this but I can't wait to be more proactive and just let it happen!!!  Thanks for the confidence!!!

May 11, 2010 06:56 AM
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Rainer
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Dennis Rosvall

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