Door Knocking Strategy Unveiled: Navigating the Labyrinth of Housing Options
Aug 21, 2022In the realm of real estate prospecting, door knocking is a tool that has stood the test of time. However, not all doors are equal, and not all neighborhoods hold the same potential for success. Let's embark on a journey of strategic door knocking, exploring the intricate web of housing options, from condos to townhomes and detached houses.
Navigating the Condo Conundrum:
"What about condos? Should you attempt to knock condos? 99% of the time? The answer is no."
Condos, often emblematic of urban living, may seem like a ripe prospecting ground. However, the reality isn't always as straightforward. A multitude of factors play into whether condos are a fruitful target for door knocking.
Transience of Condo Living:
"Condo locations are often Central, meaning clients won't be long term."
Condo dwellers often gravitate toward central locations for convenience, but this mobility can lead to high turnover rates. Establishing long-term relationships becomes challenging when residents frequently move, resulting in a constant need to find new clients.
Safety and Privacy Concerns:
"However, the top reason that you don't knock them is usually because it's not permitted for safety reasons."
Condo complexes often have security protocols that prohibit door knocking for safety and privacy reasons. Attempting to leave flyers or knock on doors can infringe upon these rules, potentially creating a negative impression.
Privacy and Flyer Dilemmas:
"You can't leave a flyer at every door in the hallway because it shows who was not home and for how long they're not home."
Condo hallways and shared spaces can inadvertently expose residents' whereabouts. Leaving flyers for those who aren't home can compromise their security and privacy, further highlighting the challenges of this approach.
Cracking the Townhome Code:
Townhomes, while offering unique opportunities, come with their own set of considerations for effective door knocking.
Balancing Turnover and Community:
"townhomes have a high turnover rate but are not always in neighborhoods with a sense of community."
Townhomes often witness a higher turnover due to the transient nature of their occupants. However, the sense of community can vary widely between neighborhoods, impacting the potential for repeat business.
Embracing Community for Longevity:
"When you target townhomes, you want to be in an area with a community because you want to be able to keep your clients as they upsize."
To counteract high turnover rates, focus on townhome pockets with a strong sense of community. Residents in these areas are more likely to upsize within the same locality, allowing for long-term relationships to flourish.
Shaping Long-Term Success:
"Otherwise, you may have many short-term clients and sales, but you'll have high client churn."
A long-term approach is crucial. While short-term gains might seem attractive, a revolving door of clients can lead to high client churn, ultimately impeding sustained success.
Crafting Your Path to Prosperity:
In the intricate dance of door knocking, wisdom lies in strategic targeting and tailored engagement. Condos, while central, often pose challenges due to transience and security issues. Townhomes, with their varying sense of community, offer both potential and pitfalls.
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