The Least Effective Ways to Prospect in Real Estate

real estate prospectingAs a real estate agent, you probably understand the importance of prospecting if you want to generate more quality leads. Whether you enjoy prospecting or not (that’s a whole different topic), there’s no denying its effectiveness as one of the best ways to generate leads.

But how can you be sure you’re prospecting as effectively as possible? The last thing you want to do is prospect in a nonproductive way that wastes your precious time. If you want to get the most out of your time spent prospecting, make sure you avoid what not to do, below.

You only do one or two prospecting tactics, and that’s it. 

One of the best ways to make prospecting as effective as possible is to get creative with it! If you’re sticking to one or two of the same tactics each time, you may find it’s not working as well as it could be. For example, if all you’re doing is cold calling and sending out holiday cards, you’re missing out on so many other opportunities. Here are a few other methods you should try to incorporate:

  • Host an interior decorating seminar with an expert
  • Offer advice to FSBOs (with no strings attached!). If they do choose to use an agent, you’ll already have a relationship
  • Hold an information session for first time home buyers
  • Compile and distribute a list of preferred local businesses and services
  • Reach out to expired real estate listings
  • Advertise on Facebook and Twitter
  • Send Just Listed and Just Sold e-Cards or e-Flyers
  • Survey members of a community asking them how long they’ve lived there, the best parts of the neighborhood and what they appreciate in an Agent
  • Reconnect with past clients
  • Sponsor a children’s sports team and introduce yourself to parents at games

You do as little prospecting as possible because you hate rejection. 

Let’s be honest: with real estate prospecting, you’re bound to hear “no” quite often. That’s inevitable. But when you do, remember to never take it personally. Think of every “no” you hear as bringing you one step closer to the next “yes!” And remember to be courteous and friendly, as often times when someone says “no” what they really mean is “not yet.”

You spread yourself too thin. 

There is a multitude of real estate prospecting methods including phone calls, door-to-door visits, Facebook and social media marketing, home seminars and attending community events. Don’t spread yourself too thin by trying to accomplish every single tactic or you won’t end up giving enough attention to any one of them. Instead, focus on the tactics that you consider to be your strengths. Do you love to host and organize events? Then narrow down the tactics that best suit that strength, like hosting first-time home buying seminars.

You don’t prioritize prospecting on a daily basis. 

Your schedule is hectic. We get it. But that doesn’t excuse you from making time to prospect every single day. Experiment with your schedule and find what works for you but set aside 2 hours each day to focus on prospecting. Many agents like to focus on prospecting initiatives in the morning between 9:00 to 11:00 a.m., as this can be a good time to make phone calls, update social media posts and ask for referrals. Treat this prospecting time as you would any other important appointment and stick with it.

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