I always read our local business publication when it came out each Friday. It was one of the best ways to keep up with the market happenings and get prospecting ideas. There in the paper one week, was a story that surprised me. The article talked about a local company that had purchased a 40,000 sq. ft. flex building. The company was owned by my relative. Guess who did NOT represent my family member in the purchase of that building? Guess who did NOT make a dime in commission from that deal?
I can tell you it wasn’t me.
My first reaction was anger. How could my relative use someone else to buy a building? My first impulse was to call him. But my cooler-headed self quickly gained control, and I put down the phone. I realized it was MY fault that I didn’t represent my relative. After all, it’s not like I spent much time with him, and we never talked much about business.
As luck would have it, I ran into him at a family function a month later. I congratulated him on his new building and then asked, “By the way, who represented you in that purchase?”
He started to respond, then quickly paused as a pained expression came over his face. “Oh man, I forgot that’s what you did!”
I missed out on a commission, because I ignored the prospect who was “right under my nose,” and “in my own back yard.” That’s when I realized you don’t always have to look far and wide for prospects. I made a vow then and there to never allow the people close to me to ever again say, “I forgot you were in real estate!”
One of the most difficult aspects of prospecting is finding leads in the first place. Fortunately, you’re surrounded by leads. One of my colleagues once brokered a major land transaction because he struck up a conversation with another guy in the fitness club locker room shower.
You can find leads anywhere. The key is to keep your eyes and ears open all the time!