Real estate is a fairly lucrative industry with plenty of industry players. Therefore, while there may be variations between markets, there’s usually significant competition amongst realtors in any real estate market. It’s essentially a competition for leads.
But, regardless, prospecting is a part of every real estate agent’s job. You can’t skimp on this process because that’s where the business comes from. So, if you want to succeed in the real estate market, you’ve got to be a good prospector. It’s the one thing within your control, and with enough experience, you’ll know where the treasures lie in your world of real estate.
That said, here are some tips for real estate prospecting:
- Set Goals
It’s fair to say that real estate prospecting is a numbers game. So, you need to set targets for yourself. The more calls you make, the better. Not every call you make will turn into a lead. But the more calls you make, the greater the chance of getting a lead. Also, be consistent with it and see how it works. Realize that there’ll be ups and downs.
Moreover, you need to set realistic targets for yourself. While it’s important to put the work in, you don’t want to strain yourself trying to attain unreasonable goals.
- Choose A Website
In this digitalized world, you must have a website to market yourself. A website has to be simple, easy to navigate, and informative. Websites are also a great way to build mailing lists since you can provide an email opt-in function to collect data on clients. Moreover, you could add testimonials there, too. Plus, you could add some useful articles through a blog that visitors can see. Buy to let property company RWinvest have some great examples on their website for inspiration on how to get started.
Simply put, the main purpose of a website is for your clients to have a reference so that they understand what you’re about. Bear in mind that most people usually check reviews and visit the actual website to gauge whether or not a site is legitimate. So, don’t skimp on this one.
- Follow Up With Leads
It’s not enough to cold call potential leads, and leave them to revert to you when they feel like it. That’s a fatal mistake. You have to understand that you must pursue potential clients. Now, this doesn’t mean that you have to pursue them in a nagging or annoying way. But, at least, you’ve got to show the client that you’re invested in helping them get what they want.
Remember, there are most likely other real estate agents that may be on their shortlist. So, you’ve got to make a good impression by showing that you want to be their number one choice. Therefore, be diligent in following up with them during prospecting, and even after they’re on board. To help you keep track of leads, you could use online marketing tools, such as a real estate customer relationship management system.
- Social Media
It’s no secret that social media is an excellent medium for advertising and reaching new audiences. There are social media features you can take advantage of, such as joining and creating communities, sending direct messages to potential leads, using paid ads to push traffic to certain audiences in a certain geographical location, hashtags, and so much more.
Furthermore, you can integrate with your other online platforms. It also facilitates engagement with potential clients. One of the best ways to build organic engagement is to post good quality content consistently. Your primary goal should be to make your online presence felt on your social media pages.
- Contact Local Employers
Contact employers to check whether or not their employees need accommodation. Speak with a representative from their human resources (HR) department. You never know what may come out of these calls.
- Contact Past Clients
This is one of the best ways to get referrals. If you’ve worked with a client before who enjoyed your service, there’s a high likelihood that they could refer you to someone else. Remember, it’s all about building connections. So, it’s worth contacting past clients to find out if they have any referral in mind. Your pitch could just start by finding out how they’re finding the new home.
- Consider Friends And Family
You can get several referrals from other sources. But, you have to consider your close family and friends as valid referral sources, too. Don’t discount them by any means because they’re likely to refer you to very good leads and you can have them at little to no advertising cost. Plus, family is great because you know they can put in a good word for you.
- Choose A Niche
To be an expert at something, you can’t be an expert at everything. So, if you want to be a great real estate agent, you must choose a specific niche within the industry. You can identify your niche based on factors like location, property type, rental, commercial, and so forth. The choice is yours.
The reason why specializing is important is that you get to get a deeper understanding and form more meaningful connections within that niche. And, you’ll be able to build industry experience, which increases your credibility within a niche.
While prospecting isn’t the easiest thing to do, it’s important in real estate. Prospecting runs across all niches in real estate. To succeed, you have to know how to network and bring in clients. Thankfully, there are many methods of reaching potential clients nowadays, such as social media and automated artificial intelligence (AI) tools. These can make your prospecting much easier.