If you want to be a successful real estate agent, then you can solely rely on referrals. While it’s true that clients will refer their contacts to you from time to time, they won’t necessarily bring enough business to make the breakeven point. This is even more noticeable in the early stages of a real estate agent’s career.
To be successful and have a regular business, you’ll need to put yourself out there. The good news is that there are various ways you can achieve this, from establishing an online presence to volunteering at local fairs.
Why Do Real Estate Agents Need to Use Prospecting?
Prospecting is essentially any situation where you initiate contact with a person with the sole purpose of eliciting business from them. This contact can be through social media, your website, through the phone or even in person.
Real estate agents need to use prospecting since it enables them to keep a regular flow of clients. Here are six ways you can use prospecting to get more clients:
1. Create a Prospecting Plan
A prospecting plan is a strategy that you will follow through upon to secure more clients. However, before you can create your prospecting procedure, you must conduct market research to understand the industry and the clients.
What kinds of clients are you looking for? Which areas do they live in? How can you get in touch with them? What is the average median age of prospective property buyers in your market?
As you work your way around answering these questions, you’ll better understand who you can use your prospecting strategies towards. Remember that not everyone you approach will likely turn into clients. It doesn’t matter if most people don’t become clients, but you raise enough awareness to attract those who do.
2. Set Realistic Goals
When you’re starting, you may have high hopes about the amount of success you’ll invite into your life. And while that vision can become a reality, it won’t happen overnight. The initial months will involve a lot of hard work and commitment to various goals.
For that reason, you must set realistic goals for yourself. If you aim too high and find that your results are nowhere near what you expected, you may get discouraged. Instead, focus on what you can do each day, knowing that the results will come in, in due time.
At the same time, you also need to measure your success. This means that setting short term goals that help you reach your long term goals is the ideal way to approach prospecting. One way to achieve this is to take the advice real estate agents who have been in the industry for years like to give.
Have a small number of prospecting goals set for every week. At the very beginning, you should aim for no more than contacting five potential leads a day. Work towards one secured information and one secured listing each week. As you get more clients and get more confident in prospecting, you can start increasing these numbers.
That way, over time, you’ll see a slow but steady rise in the number of clients approaching your business.
3. Commit to Your Goals
Motivation isn’t enough to help you reach your goals. You’ll need to sit down and grind every day if you want to achieve the level of success you want. Take, for example, how you market yourself as a real estate agent. Your social media marketing needs to be done daily, or you may miss out on prospective clients.
You’ll need to communicate and engage with potential clients daily as well. There’s a lot you can do to go above and beyond when it comes to securing new clients. These include:
- Tell your friends and family to ask you if they need help with real estate and refer their contacts.
- We are asking clients who are happy with you for referrals.
- Contact people whose listings have expired, of foreclosed houses, and listings where the by date has elapsed.
- Visit neighbourhoods where you think prospective clients live. Visit the houses and ask people directly, or cold call. Be careful that you don’t enter gated properties where you can face legal trouble.
- Sponsor an Open House for a seller, and tell them to allow you to scout for clients in lieu.
- Volunteer at local events and wear personal branding to promote your business.
In this way, there are innumerable things you can do to ensure that you’re regularly getting more clients.
4. Don’t Put Things Off
From the time you start prospecting to the time you get your first commission check, at least two months will have gone by. This is the average time it takes to get your first commission check. Keeping this is in mind, save a particular portion of your schedule aside to conduct prospecting every day.
5. Build an Online Presence
You can leverage social media to get you more clients than you can handle. It will take time, but a reputable online presence is a key to ensuring your continued success. You will need a website and social media business profiles.
Don’t worry about needing to spend money early on; you can use free services. But as you get more clients through online engagement, you should consider paying to target your content to the right audience better.
To build a solid online reputation, you’ll need to create quality content and engage with people whenever they try to contact you. This needs to be done daily, as building high user engagement can take time. Social media platforms like Facebook, Twitter and LinkedIn are ideal for getting you started with prospecting.
You can even use Instagram to post high-quality pictures of the properties you want to sell. With the right hashtags, you can find potential buyers sooner than you realize. Similarly, scouting for other sellers can help you find people who you can help as well.
6. Charity and Public Relations
If your business has a good reputation, then people are more likely to react positively towards you. You can build a positive reputation for your business by engaging in charity. You can also volunteer at various events and attend local fairs.
Remember to hand out your business card and any other branded marketing collaterals that you might own at all these events. Getting pens, notebooks, binders, water bottles, and even shirts printed with your business branding can help you get noticed. Hand these out to people at charity and volunteer events. This is a great way to raise awareness about your business while also prospecting within your service area.
Prospecting is a great way to get more clients. You’ll be able to not only find buyers and sellers but consistently.
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