Real Estate prospecting is the process of creating new clients through aggressive outreach and outbound contact. The real estate agent, instead of waiting for the call to ring, picks up the phone or sends emails or text messages to establish communication with the prospective customers.
How to prospect in real estate? Most new agents fear the idea of prospecting for clients. But you can’t expect real estate clients to approach you. To get new clients as a real estate agent, you will need to prospect. As a new agent, you can’t count on referrals, word of mouth, marketing and promotional efforts. To get your real estate business off the ground, you will need new prospecting ideas for realtors, as well as a solid realtor prospecting plan. Here are some techniques and prospecting ideas for real estate agents for generating more business, as well as tips for creating and maintaining a good real estate client list:
Determine your real estate prospecting goals
The first thing is to have a clear real estate agent prospecting plan. Senior agents suggest that beginners start with five contacts per day, one safe candidate per day and one safe listing appointment per week. However, you should also talk to your broker about the company’s average or what is standard for your market. Getting new clients as a real estate agent is hard work, but trusting your broker to help you set goals and procedures takes some of the guesswork out of it.
If you’re new to the industry, like most people starting out in their professional areas, you’ll need a period of settling down to gain confidence and increase your realtor prospecting skills. Therefore, it is best to set realistic goals when thinking about your own plan of how to prospect in real estate.
Conduct real estate prospecting activities
Prospecting is essentially any activity that directly involves verbal or in-person contact with people for the sole purpose of obtaining your business. To see results, it is important to commit to and follow real estate prospecting tactics. After you have enthusiastically tested each idea, you can evaluate whether you are getting the best return on investment or whether you need a new strategy.
Here are some real estate activities and prospecting ideas for realtors that you can implement:
- Calling or visiting people you know. Here you can read more about Sphere of influence in Real Estate
- Conduct surveys in your neighborhood through cold calling or personal visits
- Call satisfied former customers for references. Here you can read more about How to maintain contact with former real estate clients for future reference
- Sponsor an open house for a seller. Here you can read about the Guide to Promote Open Houses on Facebook and Instagram
- Follow up with referrals coming through your website, social networks, and other promotional sources.
Even if you are just starting out and don’t have a large network, there are tactics for getting new customers that you can integrate into your plan. Here you can read about the 15 real estate lead generation tips.
Make sure you spend your time properly
The more potential customers you get, the better your chances of getting enough business to achieve your goals. However, you don’t want to waste your time focusing on the wrong techniques or people. If your prospects are not ready to make a real estate decision, don’t make them a priority.
During initial conversations with potential real estate clients, ask them how motivated they are to buy or sell and when they plan to make a decision. Then, prioritize those who are willing and able to do so in the shortest time possible.
Prioritize as you would any other task
Inconsistent and delayed real estate prospecting is particularly detrimental because of the delay between the time you start working with a client and the time you get paid. Keep in mind that it usually takes one to three months from the time you start prospecting until you receive a commission check. If you want to get new real estate clients, you should start as soon as possible.
From day one, make sure you take the time to develop real estate prospecting ideas, follow up on prospecting goals and activities, and follow up on your contacts. This will help ensure a solid number of quality leads.
Make it a habit of your daily routine
Most of the prospecting ideas for real estate agents are very straightforward, but what is important is to be consistent in the daily execution.
To build a portfolio of prospects for real estate that will expand and maintain your company, you have to perform it every day. Having new customers in real estate would be a major part of the work at first. It’s not enough to make loads of calls for two days in a row and then none for a fortnight. You should be able to handle prospecting the same way as you should approach any other daily task.
Use Technology to Improve Your Prospecting Efficiency
A few years ago, real estate prospecting involved a lot of hard work. You would have to collect addresses for mailings, search several disreputable websites to try to find phone numbers, and not even begin trying to locate contact information for expired listings.
Fortunately, these days you can count on affordable real estate software that can do the heavy lifting for you with the help of a virtual assistant, that will make it easier to handle and accomplish your real estate agent prospecting plan.
The Realtor App Aidy is a prospector’s best friend, because it does for you all the work that used to take up so much of your time every day, giving you all the information you need to start communicating with your prospects from day one, and even providing you with tools to make that outreach faster and more efficient, from any mobile device.
Aidy Real Estate CRM will help you keep your agenda organized and detailed on your mobile or desktop device, so you have all the information in one place and it’s always at your fingertips.
Aidy keeps you informed of all your obligations 24 hours a day, 7 days a week. He will help you find the most likely buyers and sellers, promote the properties on social networks and allow you to make more profit by helping you sell more properties. Thanks to Aidy, who offers a free trial period, real estate consultants spend less time trying to establish quality communication with potential clients.