Prospecting is defined as “seeking a potential customer”, with a vision to do business with that customer. In simple words, prospecting involves finding people to do business with.
What prospecting is and isn’t
| What Prospecting is | What Prospecting isn’t |
| Calling old clients | Mailing calendars, and freebies |
| Calling people in your sphere of influence | Setting up a website |
| Calling client lists | Writing name of your agency on the back of your car |
| Cold calling clients | Sponsoring your local football team |
| Hosting open seminars on real estate | Answering emails |
| Cold calling from a list of names in an area | Sending brochures in a newspaper |
Prospecting process for real estate involves
- Identifying and creating leads by establishing contacts with people who have interest in what you are offering and who have the potential to become your clients in future
- Securing face to face appointments for predetermined times in future
- Use your networking skills – ask people in your circle of influence, your circle of past clients, or your referral groups to share the name of people who need or want to sell real estate
- Prioritize your investment of time on the probability of success. Some prospects warrant a larger investment of time and resources because of their short time frame, their stronger relationship with you or the amount of commission that you would end up making in that particular deal.
