Our list of real estate prospecting ideas for both new real estate agents and established real estate professionals provides the tools for annual income growth without the need for a large marketing budget. When you are just starting out as a real estate agent, you probably do not have a huge budget to market yourself to potential clients. In fact, with all the money you’ve shelled out to obtain your real estate license and begin your new career, you might just be a little in the hole.
Most of the established REALTORS® and real estate agents reading this probably dislike spending exorbitant amounts of money marketing their brand. And when it comes to real estate prospecting ideas that hit hard on the bottom line, they most likely have seen them all and used them all. These established pros, however, can often benefit from a reminder of how powerful some of the no-cost / low-cost prospecting ideas found here are when it comes to growing their businesses.
Below, we’re going to share a few tried and true real estate prospecting ideas along with some new ideas for marketing your real estate business. And the best part about each and every one of these real estate prospecting strategies is that none will break the bank. So if you are ready, then let’s get started.
Join the Network
Networking to grow your real estate business is nothing new. In fact, you will probably find yourself at many networking functions with your fellow real estate agents. While these events are a good way to meet people in your industry and possibly find some business, you really need to make it a point to network at other group functions.
If the local humane society is holding a dog wash to raise funds, take the family pet and network. If there is an all-day family event at the local park, take the kids and network. If there is farmer’s market or weekend festival, take the entire family and network.
The point we’re trying to make here is that every family outing, sporting event, community gathering, etc. is a networking opportunity. And each of these is a much better place to prospect for real estate leads than over coffee and donuts with other real estate agents. Take your cards, wear a shirt with your office logo, start a conversation, ask questions and listen: You’ll be surprised at how many people know someone who is looking to buy or sell a home.
Training the Team
One of the terms floating around marketing – especially social marketing – these days is the term brand evangelist. These are customers who love a brand so much that they gladly spread the word and recommend products and services to their friends and social network communities. You could think of this as referrals on steroids. And another plus – you don’t even have to ask for the referral.
The best way to turn someone into your brand evangelist is to overdeliver on your promises and go above and beyond what any other real estate professional provides. But what if you are brand new and haven’t had the opportunity to overdeliver? In that case, recruit family, friends, coworkers or neighbors to help you out and become your brand evangelist.
In either scenario, you will want to do a little training with your brand evangelists. Give them a few pointers for how to approach possible clients without being pushy. Tell them about your specialties (REO, specific neighborhoods, first-time buyers, etc). You may even want to work with them to develop an elevator speech that is easy to remember and recite. Most importantly – reward them for their help!
Team Up with Technology
Online tools are cost-effective (some are free) and deliver an excellent array of ways to connect with real estate prospects. First and foremost, make sure you have a website or blog and use this as the hub of your real estate marketing efforts. Then, make use of social networks, online video and email software to reach out to prospects and real estate clients.
Notice in the previous sentence, we used the words “reach out” instead of “sit back and wait” for leads. Many real estate agents fail when prospecting for real estate leads online because they set up their website presence and sit back and wait. Don’t take this spider’s web approach unless you can live on one client ever few months. Much like successful offline networking, take the proactive approach to finding prospective real estate clients and leads. Below are a few ways to get started.
Start a monthly real estate email newsletter full of valuable content and include social sharing buttons so your readers can pass along your content to their friends. Use Google Hangouts On Air to hold a monthly real estate Q & A session with online video and invite your contact lists along with their family and friends to join you. Search Twitter, Google+, LinkedIn Groups, and Facebook for conversations revolving around real estate. Answer questions, provide valuable advice and establish yourself as the go-to, real estate expert in your local area.
Idea Grab-Bag
There are many other no-cost and low-cost real estate prospecting ideas we can share. However, we know you are probably chomping at the bit to get out and start prospecting for real estate leads. With that in mind, we’re going to roll out three more ideas in the following paragraph so you can start putting these ideas in action.
Do you live in a neighborhood or subdivision? Host an annual, semi-annual or quarterly neighborhood cookout where you can introduce yourself and your services to people in a relaxed atmosphere. Do you like free press? Make yourself available to newspaper and television reporters when they need a quote or an interview. Enjoy speaking in front of large crowds? Professional organizations are always looking for experts to speak at their meeting, luncheons, events, etc. Never turn down an opportunity to speak no matter how obscure the group or how small the crowd as there are always leads to be found.
Remember, to become a top producer – or even just to make a good living as a real estate professional – you will need to understand how to prospect for leads. More importantly, you need to put that prospecting strategy into action. And while finding real estate clients and steady business does require an ongoing effort and a little creativity, it doesn’t need to cost an arm and a leg.