Prospecting is the lifeblood of any real estate business. Without a steady stream of qualified leads, even the best agents will struggle to close deals.
But with the right prospecting strategies, you can fill your pipeline with motivated buyers and sellers.
In this comprehensive guide, I’ll walk through 17 highly effective tactics for real estate prospecting in 2023. From time-tested classics to cutting-edge new methods these approaches will help you drum up more leads and grow your business.
Let’s dive in!
Why Is Prospecting So Critical for Real Estate Agents?
Prospecting might not be the most glamorous work, but it’s essential for three big reasons:
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Ensures a healthy business long-term Prospecting builds your pipeline and nurtures relationships. Without it, your business can’t thrive over the long haul.
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Keeps income predictable: A strong lead flow leads to consistent deal volume. That makes your income more stable and forecastable.
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Builds brand and reputation: Prospecting expands your network and name recognition. As your expertise grows, so will referrals.
Simply put, prospecting is the fuel that powers real estate success. Make it a daily habit, and you’ll reap major rewards.
17 Real Estate Prospecting Strategies to Adopt
Now let’s explore prospecting tactics that work in today’s market. I’ve organized them into five categories:
Prospecting Foundation
These strategies establish a solid base for all other prospecting efforts.
1. Create a Documented Prospecting Plan
- Outline your target channels, frequency, steps in the process, etc.
- Block time on your calendar and stick to this schedule.
2. Continuously Educate Yourself on Market Conditions
- Read reports from experts like Mike Simonsen of Altos Research.
- Understand current dynamics and how to adapt.
3. Nurture Past Customers and Ask for Referrals
- Add key dates to your CRM and send timely, personal messages.
- Referrals remain a highly effective lead source.
Digital Prospecting
Build your digital presence to engage today’s tech-savvy prospects.
4. Craft Compelling Listing Copy
- Use proven structures, like headlines and detailed descriptions.
- Edit AI drafts to avoid cliches.
5. Learn Real Estate Marketing Best Practices
- Master photography, 3D tours, floor plans.
- Consider special service packages.
6. Establish a Strong Social Media Presence
- Be active in niche communities.
- Post value-adding content.
- Monitor hashtags.
7. Create a Website and Blog
- Pick a platform like Squarespace.
- Publish “hyperlocal” posts to build authority.
8. Start an Email Newsletter
- Use a tool like ConvertKit.
- Share hyperlocal happenings and events.
Traditional Prospecting
Don’t overlook time-tested methods that still deliver results.
9. Host Open Houses
- Prioritize high-demand listings.
- Capture prospect contact info.
- Follow up later if no offer.
10. Attend Community Events
- Connect with your target market.
- Establish local expertise.
11. Try Cold Calling
- Use quality lead lists and scripts.
- Relentlessly follow up.
12. Contact FSBO Listings
- Emphasize agent expertise in marketing, paperwork, sales price.
- Monitor FSBO platforms.
13. Send Direct Mail
- Target specific neighborhoods.
- Promote listings or local expertise.
14. Drive for Dollars
- Look for distressed homes while driving around.
- Knock on doors or mail owners.
Tools and Systems
Work smarter by leveraging technology and systems.
15. Use Prospecting Tools
- Automate follow-ups.
- Log calls.
- Qualify leads faster.
16. Network and Partner Strategically
- Attend relevant events.
- Team up with complementary industries.
17. Systematize Your Process
- Document repeatable tasks.
- Create checklists.
- Automate where possible.
Track Leads in a Real Estate CRM
To manage this influx of prospects, you need a stellar real estate CRM.
Look for one that integrates calling, email, texting, and reporting in a single platform. This way you can engage leads across multiple channels while optimizing your follow-ups.
The Close CRM is purpose-built for real estate teams to boost sales productivity. And you can try it for free!
The Key to Real Estate Success: Consistent Prospecting
The market may shift, but prospecting remains essential. Follow the strategies in this guide, and you’ll see your lead pipeline grow.
Be sure to measure different approaches to find what works for your business. Then turn prospecting into a daily habit.
With a little perseverance, you’ll build a stellar real estate business that lasts.
Latest on this topic
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the members nar.realtor login.
Quick Sales Scripts (REALTOR® Magazine Online)
Real Estate Business Letter Templates (National Association of REALTORS®)
Provides ideas for online and offline lead generation and creative tactics from real estate professionals.
Network, ask for referrals, create a process, use social media, make videos, create a content marketing campaign, and use CRM software.
Scientifically Develop the Habit of Lead Generation: Part 1 (National Association of REALTORS®, Nov. 19, 2014)
To start the habit of lead generation, set aside one hour each day to make anywhere from 5-10 contacts with your sphere, past clients, FSBOs, or expired listings. The point is to be consistent and start with a goal that guarantees you will finish.
Scientifically Develop the Habit of Lead Generation: Part 2 (National Association of REALTORS®, Nov. 26, 2014)
The world’s top performers, from CEOs to professional athletes, all have one thing in common: consistency. The best performers in every walk of life, like Seinfeld explained, do their work with remarkable consistency and consider everything else a distraction.
Scientifically Develop the Habit of Lead Generation: Part 3 (National Association of REALTORS®, Dec. 4, 2014)
Visualization has a snowball effect. I find that the more consistently I visualize, the clearer my vision becomes and the easier it is to see the path. When the path becomes easy to see, taking definite action is both simpler and more fun.
Scientifically Develop the Habit of Lead Generation: Part 4 (National Association of REALTORS®, Dec. 18, 2014)
A recurring question has been, “How do I find time for lead generation when I have all this other stuff going on?” The answer: simplify.
eBooks & Other Resources
The following eBooks and digital audiobooks are available to NAR members:
How To Prospect In Real Estate | What NO ONE Talks About!
What are some real estate prospecting tips & examples?
Here are a few prospecting tips and samples: Create a calendar and fill it with real estate tasks related to your preferred prospecting efforts. For example, prospecting activities can include phone calls, emails, blog posts and maintaining your Facebook ad campaigns.
What makes a good real estate prospecting strategy?
Success in real estate prospecting comes down to your ability to attract, establish, and nurture client relationships. The best real estate prospecting ideas incorporate both paid and organic online lead generation strategies and community involvement to connect with high-quality leads and add value.
How do you manage real estate prospecting?
Create a calendar and fill it with your real estate prospecting tasks. Or use CRM software with a built-in calendar. 2. Keep track of how many prospects you contact before getting a listing appointment. Use it to track your best real estate prospecting strategies.
How to track your best real estate prospecting strategies?
Use it to track your best real estate prospecting strategies. At first, aim to get one secured lead per day and one secured listing appointment per week. 3. Prospect every day during a set time. It should be a daily routine because inconsistent real estate prospecting is the quickest way to sink the ship.
