8 Ways on How to Prospect in Real Estate
An important for every real estate agent to master, prospecting is the process of cultivating leads to generate business. It is essentially finding a to source new leads, leverage social networks, and participate in community events in order to boost brand visibility and get more clients. Successful prospecting can be the main difference between making timely commissions in real estate and getting irregular income on a monthly basis.
In order for agents to truly be successful as a real estate agent, it is important to commit a consistent amount of time to prospecting every week. That being said, some ways of doing it are more effective than others. Here are eight great ways on how to prospect in real estate:
1. Use the weekend to socialize
Any good real estate agent knows that a lot of action happens on the weekend. Although you might already have a busy schedule preparing for showings and what not, don’t miss out on the opportunity to participate in community events. Not only are these wonderful opportunities to generate great content for social media, it is also an authentic way to showcase the very best of the area you represent.
2. Don’t be afraid to get personal
Setting up personal meetings is the number one way to accelerate your prospecting plan. Don’t be shy about reaching out to grab a coffee or pay for a lunch to meet with a potential client. Remember that nine times out of ten, people are going to end up doing business with someone they already know and like. Make time in your schedule to meet with people in person and be flexible enough to do so on their time frame when necessary.
3. Never be lazy when it comes to the follow up
First things first, allow your definition of “lead” to be fairly liberal and pursue each one. So many great opportunities are missed simply because someone didn’t follow up. Successful real estate agents are in the position they are in because they are good at what they do and because they follow up.
Stone all contact information in a systematic way, keep records, and follow up at an appropriate time. Remember that the more meticulous your notes are, the more likely they are to serve you later.
4. If you don’t already have a website, get on it!
These days, people expect you to have a website, plain and simple. If a potential client can’t find your current listings in one convenient place, there’s a good chance they will lose interest. There are a variety of things to consider when creating your own website that are specific to agents and brokers. For example, you should consider IDX— or internet data exchange — integration that allows you to show real estate listings on your website.
5. Make a plan, and stick to it
The best way to make the most of your time when it comes to real estate prospecting, is to make a plan and be sure to stick to it. Create a specific calendar for tasks related to prospecting and set aside an hour or two every day to reach your goals. Once you learn how to prospect in real estate, it will feel like second nature and you’re bound to start seeing some benefits.
6. Use social media wisely
Facebook and Instagram have both become increasingly important for real estate agents. The trick is knowing how to leverage the platforms to get the right kind of exposure. The value of Facebook, for example, is that you can run ads or promote your posts to specific audiences by setting demographic variables and choosing specific areas where you operate. Instagram, although still largely overlooked by many agents, is also a key tool.
Keep in mind that 59% of millennials, who are the largest share of first-time homebuyers, use this platform daily. In order to really make your prospecting efforts stand out, try posting on Instagram every day over a given period of time. Share images of your community, homes for sale, and satisfied customers and use hashtags for searchability. Chances are that you’ll start to see results and will be motivated to keep going.
7. Make networking central to you approach
Although all your other efforts are certainly important, it is worth remembering that over 40% of all buyers and sellers find their agent through a friend or family member. This means that it is critically important to spread the word that you’re an agent and are accepting new clients.
In addition to professional networking events, try to take advantage of any social gathering to promote your business. A neighbourhood barbecue or your child’s sports game could both be great places to find new business.
8. Reach out to local employers
In there a large employer in your area? Touching base and building a relationship could translate into a significant amount of business over time. More employers are now hiring individuals from other parts of the country who will be moving into the area on their own. By making yourself accessible, you will be top of mind when it comes time for the human resource department to provide information.
