Six Easy Prospecting Do’s and Don’ts

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Hate the thought of real estate prospecting? Don’t know where to start or what to do? Here are six action steps to help you re-frame and re-game your prospecting attitudes and actions:

1) Do overcome “prospecting-phobia” by starting with a real plan of action. Just picking up the phone might turn out to be profitable but, with a plan, your results will be much more impressive. Your plan should include a targeted list of contacts, a series of 1-3 scripts and an executable, multiple touch follow-up plan with those contacts via mail, email, video etc.

real estate prospecting

2) Don’t think of prospecting as an all-day event. Consider using the “30 Minute Rule.” This strategy recommends that you pick up the phone and make prospecting calls within 30 minutes of arriving at the office. Once you’ve developed your plan, target group and scripts, this 30 minute rule will help you to get into action before you have time to start procrastinating. Expert Gary Stauble says, “Think of making your calls as a video game. If your man dies (you are rejected), just hit reset (make another call) and play another game.” He suggests that you start with an easy call to get yourself going. When you crank out your calls at the start of every day, your prospecting will become easier, and the results of this good habit will show up as an increase in production.

3) Do track the return on your investment of time that you get from prospecting. It will support your motivation to continue the ongoing process. Bob Corcoran shared that his top coaching clients book $1,695 per hour with their phone prospecting activities. This is PROVEN ROI, so know that every call gets you somewhere in the profit zone FAST!

4) Do schedule short prospecting blocks of time on your schedule every day. Start small, then build as your confidence and positive outcomes grow, especially when you include help from your strategic partners. Mike White shared how to block out your time with his program on how to prospect with your strategic partners.

5) Don’t blame the slow market for your lack of leads, but rather how much information, research and surveying you’ve done to reach out to your communities. If there have been ZERO sales in the past 90 days to 6 months in your zip code, you might be right. If that is the case, time to move on to a more active area to farm. In most cases even in slow areas, there are sales, so why not make them yours? Sam Miller realized he has saturated his farm area and quickly developed an adjacent area that was overlooked by other agents. He received a staggering ROI when he started to become a resource to the area and swiftly became their Apple Valley expert.

6) Do you use social media channels, like Facebook, but not seeing huge results? Don’t post listing information, post LIFESTYLE tips and events related to the area around your listings and you will see higher engagement! Look at the upcoming calendar month and post relevant information about the upcoming events, meetings and park schedules that are tangent to the areas you serve instead of information about you or your listings. Set up your editorial and marketing calendar in ADVANCE so that you have an easy to post plan, which will help you to become the go-to resource for your area.

If you suffer from call reluctance, know that it is a phenomenon that is happening only in your head. You can fix it with a small attitude adjustment! When you offer valuable services to your community, prospecting is transformed from soliciting to serving by what you offer! Get better at prospecting, and you’ll be sure to get more sales more easily.

Have you ever made a sale that started as a phone call? Share a prospecting success story with your fellow agents below!

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