How to Succeed in Prospecting as an Estate Agent

Posted by The Able Agent on 11th October 2021 -

Prospecting should be a core part of your daily plan, whether the market is busy or quiet. 

The QUALITY OF THE DATA that you hold in your database is your insurance policy for when the property market changes. But how do you succeed in Prospecting as an Estate Agent?

By securing roughly one additional market appraisal per day, with a 50% conversion rate at listing, would mean an additional 10 properties available for sale per month

How to Prospect Successfully

A wise man, (my old estate agent boss), once said fail to plan, plan to fail. This is never more true than in relation to prospecting.

Structure is essential in prospecting, and it starts with the accuracy of your database.

It is easy when the market is busy to let standards slip when speaking to viewers and portal leads. BUT getting this information in detail and correctly categorised – with detailed information about their motivation and timescale, is essential.

Prospecting is simply about making calls to people on your database or in your network.

You can allocate half an hour to an hour a day or set a specific number of calls per day…The method doesn’t matter but the consistency does.

Your CRM system should enable you to keep track of any prospect seller, that either has their property on the market with another agent, or is not yet on the market.  Your CRM system will also allow you to diarise calls with these potential clients in your reviews or task system. Our advice is to get familiar with your CRM reporting system. Relying on the system to prompt you on a monthly basis may not always yield the best results. The CRM can sometimes be a “black hole” of data so do your best to use reports to keep up to date on a weekly (or even daily!) basis about all potential branch prospects.

Keep a HOT list of prospect sellers / prospect auction sellers etc.

Categorising these as accurately as possible when they first contact your agency is the starting point to a high quality database.

All agents should have a “keep in touch” policy for these clients – by phone, email and or post. Your agency and brand need to offer information and advice. NOT just ring up and ask how they are doing and if they would consider selling!

Ring with useful information, pricing updates, sales updates, local market updates, planning updates.  Remember to plan these calls and think about what you want to say.

Monitor Prospecting Results

If you are the business owner or the manager of the branch, it is absolutely essential that you monitor and feedback when people have success.

Set specific tasks and ask for results.

When the market is good – people are more keen to register their details -so make the most of this!

Find a topic that is of particular interest in your area, become the agency is an expert and can offer knowledge and advice.

For more detail our Lister course is launching September.