Unit 4: Prospecting and Business Development Flashcards
Definition
Prospecting is the process of locating owners who are
interested in selling property and prospective buyers
who are interested in purchasing property.
What is the term endless chain when regarding prospecting?
The endless chain method is the process of using prospects to recommend of potential prospects so on and so forth.
Centers of influence are people in your community who are influential.
A geographical farm is a specific area with definite boundaries that is worked by an agent. Within the specific area, the agent seeks a dominant share of the marketplace.
A nongeographical farm is a particular segment of the marketplace defined according to property differentiation or buyer/seller differentiation.
For example, an agent could work with a particular ethnic group or specialize in horse properties.
