The 4-Step Process of Successful Real Estate Prospecting
One of the primary keys to being a successful multi-millionaire real estate agent is the ability to identify who are ready to conduct and complete a real estate transaction. This process of identifying and targeting prospective real estate buyers or sellers is called real estate prospecting.
While many Atlanta real estate agents limit their prospecting activities to random calls and occasional newsletters, I consider this an ongoing activity – an activity that must be carried out in a structured manner. Real estate prospecting is not an event; it’s a process that requires consistent effort and time. You cannot randomly call people and wait until they call you back to get an appointment. To make the entire process more focused and more effective, you need to develop a strategy – strategy that can help you reach more customers and assist you in closing real estate transactions successfully.
To help fresh and experienced real estate agents get more clients, I have developed a 4-step real estate prospecting plan that we use at Platinum Real Estate and to boost business in Atlanta real estate market. Follow this plan and you are likely to see your client base expand and your profits go higher.
Step 1: Select Your Target Market
If you promote your real estate services to everyone, you will end up with a very unfocused and ineffective marketing campaign. In order to get more value for your time and efforts, you should consider segmenting your target market. Use geographic, economic, and social criteria to segment your potential client base and focus your prospecting efforts to them.
For example, if your portfolio features luxury properties, you should gear your prospecting efforts and marketing campaign to Atlanta real estate investors.
Step 2: Select Your Communication Method
Selection of the right communication method is an important decision. It is likely to see real estate agents using more than one method to contact their prospects. While utilizing multiple methods improves the efficiency of your real estate prospecting process, it is important that you don’t lose focus and spend reasonable time on the important ones, and this is what we do at Platinum Real Estate.
For example, if historical data suggests that cold calling is a more effective method for contacting your clientele base, you should consider target your efforts on this particular method. Or, if you have found most of your new clients through referrals, you should make calls to your past clients and ask them if they know anyone who is looking to buy or sell a property.
Step 3: Develop a Differentiation Strategy
There is a lot of competition in the real estate industry today, and one must develop a differentiation strategy in order to stay successful. When marketing your brand, offer something more than traditional real estate services. This way you can build your identity as a premium real estate agent and get more clients.
For example, if your clientele base consists of budget-conscious people, consider offering them A la Carte real estate services.
To get guidance on real estate strategic planning, consult with an Atlanta real estate coach like Luther Ragsdale.
Step 4: Follow Up
I have already mentioned that real estate prospecting is an ongoing activity. Stay in contact with people who would like to buy or sell a property in the near future. A great way to stay in touch with potential clients is to offer them services that can build your reputation as a committed and cooperative real estate agent.
For example, offer them home inspection services or send them weekly or monthly Atlanta real estate sales updates.
To get more details, visit my website. Also, to find real estate prospects on social media websites, download my eBook “The Viral Noise – Social Media Marketing for Real Estate Agents.” To get access to more real estate eBooks, visit my website Luther Ragsdale.com and Platinum Real Estate.com