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ART OF PROSPECTING IN REAL ESTATE BUSINESS

August 24, 20223 min read

Ask any successful Broker the secret of success in the business and instant answer will be Names – regular flow of names .

A broker is a self employed professional spending most of the time on a laptop and a smartphone tracking clients . The day would begin only if there are new names to call, else the broker feels dejected and calls the same old numbers who had said No earlier .

The art of prospecting is a habit that develops only when there is regular and effective search for names(prospects) using few systems as detailed below :

Rule of 10 : Each day try to collect at least 10 new names from all the sources . If you work 5 days in a week then each week you must have 50 new names, that’s simple maths .Usually these names are suspects who have not passed through your filters . Your licensing school , mentors and coaches would help you in developing your filters which can qualify a suspect into a prospect .

Social Pool :Identify a few well wishers who are interested in your success . They can be your relatives , friends , ex colleagues , church staff , Gym owners this is your social pool . Develop relations with them , share your professional aspirations and dreams , talk them into sharing relevant information and names . Keep updating them with progress and also reward them in case of any successful deal . Slowly , you will have few COI ( Centre of Influence ) who will be working like business partners .

Contact your customer base , take their feedback and ask for names if feedback is positive . Look for opportunities to remain in touch with your customer base as they are the best sources to refer you to new names .

Use social media platforms like Facebook , Linkedin , Instagram and share Real Estate news . You will receive new enquiries if right positioning is done using Digital Marketing tools . Your school can help you in building your social media presence .

Call three friends every day and share news of your professional field . Give them updates on changing prices and attractive bargains . Ask for names who may be interested in Real Estate .

Join social groups like the local church , gym , hobby centres . Your visibility is critical and never forget to carry your visiting card . Share your card at every opportunity .

Trigger Questions : Art of prospecting needs regular practice of trigger questions which helps you in generating new names . Some examples are given below :

My name is David and I am a Real Estate Broker licensed in the state of Chicago . For the last three years , I have helped over 50 clients move into Illinois . I specialize in the mid income category and to expand my business , I am looking for names who may be looking for new bargains in Real Estate .

Did you attend any marriage function in the last one year ? Can you share the name ?

Was any of your friends blessed with a newborn , can you share the name ?

Who was your best friend in High School and how is he doing now ? Can you share a name ?

If the day is begun with 10 new names then it leads to guaranteed success . Before joining a Licensing School ,you should prepare a P 30 i.e Prospect list of 30 known persons who may become your potential customers . While preparing for licensing , you must send an email to 30 prospects that you are under training and would be licensed very soon .

An early success motivates you for a great start in Real Estate Career .

Best wishes from Inland School.

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