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Real Estate Prospecting: 16 Proven Strategies To Supercharge Your Business
Do you want to create a pipeline of active buyers and sellers? These time-tested real estate prospecting ideas, tips and strategies will help you diversify your prospecting efforts, load up your database with new contacts and lock in your continued success. First, we’ll cover the basics of real estate prospecting, and then we’ll delve into the creative, proven prospecting methods I share with my coaching clients.
What is real estate prospecting?
Real estate prospecting is a proactive strategy to generate new contacts and expand your client base using direct outreach methods like phone calls, emails, networking events or social media. Done consistently, real estate prospecting is the lifeblood of any successful and sustainable real estate business. Put simply, it’s how you find more people to help, expand your network and build the future of your business — one connection at a time.
16 proven real estate prospecting strategies
ABC…Always Be Closing, as the saying goes. But the truth is, you can’t close if you don’t first open. Consistently opening the door to new connections is what real estate prospecting is all about. Here’s how to do it.
1. Start with your sphere
Ask any top agent where most of their business comes from, and they’ll tell you it comes from their sphere of influence — people they already know. The people you already know are the fastest and easiest sources of business because they already know, like and trust you, and they want to help you succeed.
All you need to do is stay in touch with them by consistently reaching out to stay top of mind. Simple, but not easy. Staying in close contact with your sphere by phone, text, social media DMs, mailers, emailers and in-person takes hard work and consistency. It’s not always comfortable, yet it’s by far your biggest opportunity to secure more direct and referral business.
Bring up real estate in conversation by telling interesting or funny stories from the field. It’s ok to borrow other agents’ crazy stories until you have your own. To manage your outreach to your network, we recommend using a good CRM automation and reminders of your last touchpoint with every client. Here are some of our favorites:
Related article
The best real estate CRM for every budget in 2024
2. Ask your sphere for referrals
While you’re staying in close contact with your sphere, let all your happy, satisfied clients know that your business thrives on word-of-mouth. Ask if they know anyone looking to buy or sell their property. When receiving referrals, your prompt follow-up is crucial. You’ll need to show appreciation to your client who sent the referral and reach out immediately to engage with your new prospect while the recommendation is still fresh.
For some tips on expanding your sphere of influence, check NYC-based Kayla Lee’s article, linked below. Kayla is an agent with SERHANT. You can also check out my savvy strategies for getting more real estate referrals:
Related articles
7 ways to expand your sphere of influence in real estate in 2024
9 savvy strategies to get more real estate referrals
3. Send handwritten golden letters
Golden letters are simple, one-page letters (ideally handwritten) sent to homeowners that say “I have a buyer interested in this neighborhood. Have you considered selling?” Send the same letter to the same recipients multiple times. It may feel strange, but it will yield better results. Use this strategy when you have a buyer who doesn’t see anything they like on the market or one who is tired of being outbid. You might just pick up a listing or find an off-market property for your buyer, making you a hero.
We love Handwrytten for sending golden letters. Their robotic technology uses real pens and ink to perfectly mimic handwriting. It gives you the personal touch that’s so crucial for landing seller leads — without the hand cramps. Don’t have a prospecting list? Handwrytten’s built-in prospecting tool lets you target neighborhoods down to a .25-mile radius — perfect for circle prospecting. It also integrates with Salesforce, Follow Up Boss and Hubspot, so you can easily send notes to anyone in your sphere of influence.
Check out HandwryttenRelated article
9 effective real estate prospecting letter templates (+ postcards & our checklist)
4. Host housewarming parties for your buyers
Offering to host a housewarming party for your buyer clients in lieu of a closing gift is a fantastic prospecting strategy. Some buyers will take you up on this; some won’t. But for those who want it, there’s no better way of meeting your buyer’s friends and family. This expands your network and allows you to connect with future potential clients. Bonus: You can write off 100% of the cost of these celebrations as a marketing expense.
5. Host as many open houses as you can
Open houses are a great way to meet new buyer clients who are actively searching for a home. Many open house attendees may still need an agent. If you don’t have listings of your own, ask other agents in your office if you can host an open house for them. They’ll need to get the sellers’ permission, of course. Whether your colleagues are away for the weekend or it’s a listing that’s been sitting for a while, you’d be surprised how many will say yes!
Hosting an open house presents an opportunity to tease out the event on your social media platforms and establish yourself as a skilled marketer and local real estate expert. Your followers will view you as a successful real estate agent — especially if you market the property in a fresh and engaging way.
To attract a larger audience, you can also promote your open house events using signage, flyers, community notice boards, and direct mail postcards sent to homes in the community. We recommend Wise Pelican. They’re an affordable provider of glossy, full-color real estate postcards. Pricing varies by quantity, but 500 printed postcards cost under 50 cents each.
Check out Wise PelicanRelated articles
23 creative open house ideas to drive foot traffic, get leads and sell fast
Digital open house sign-in solutions agents swear by for lead generation
6. Circle prospect near just-listed and just-sold properties
Circle prospecting is typically done over the phone by calling neighbors of recent just-sold or just-listed properties. You can also opt to door knock, send mailers like postcards, or even send emails if you have a network of contacts in the area. The purpose of circle prospecting around just-listed or just-sold properties is to promote yourself as the local market expert in that neighborhood. Not sure where to start? Tom Ferry’s Prospecting Bootcamp can help you master circle prospecting. His program is known for excellent conversation starters and objection handlers. Or you can check out my in-depth guide to proven circle prospecting strategies, linked below:
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10 simple tips to master circle prospecting (+ scripts)
7. Run social media ads
Expand your client network by running pay-per-click (PPC) ads on Instagram, Facebook, or TikTok. Be sure to include a lead capture form and have a follow-up system in place.
If you need to drum up new leads quickly, running ads on Facebook or Instagram is the way to go. Here’s why: Facebook’s ads manager allows you to micro-target niches like potential buyers and sellers. The most effective offers for social media ads are generally home valuations or niche listings, but you can also get creative — as long as you offer something of value. The best part? You only pay on a per-click basis.
Not tech savvy? Try Top Producer’s Social Connect. They do all the hard work of targeting buyers and sellers on social media for you, and then they send you the leads. You can get 30 leads per month for just $10 per lead.
Check out Top Producer’s Social Connect8. Door knock for an exclusive property preview
One of my favorite real estate prospecting strategies is door-knocking the neighborhood the day before the open house to invite neighbors to an exclusive preview of the property. These typically kick off an hour before the public open house begins. A neighborhood preview accomplishes several things: it makes the neighbors feel special, gives them permission to be a “nosy neighbor,” and gives you more facetime with potential sellers.
For high-end or special listings, consider hosting a more elaborate party for the neighbors. My team will soon be listing two new construction townhomes and we’ll invite all the neighbors to a party the evening before we go live. If you go this route, remember to hire a photographer or videographer to create impressive social media content!
PRO TIP
Bring some real estate flyers with you to tuck in the doors that you knock on when the neighbors aren’t at home. Just be sure not to leave anything inside the mailbox!
9. Build relationships with FSBOs & FRBOs
Targeting For Sale By Owner (FSBO) and For Rent By Owner (FRBO) listings can be a viable strategy to find seller leads. These homeowners have already expressed a desire to sell or rent their properties. A scroll through Facebook Marketplace will help you find FSBOs & FRBOs. Try Vulcan7, a helpful tool for finding FSBO contact info in your area and calling these homeowners directly.
Let’s face it, FSBO owners need help, but they generally don’t like to be sold to. Instead, lead with value and build relationships slowly. Eventually, most FSBOs will hire an agent. Be that person when the time is right for them. To win their business, you’ll need a well-prepared pitch explaining the benefits of working with an agent, such as broader market exposure, professional marketing, and assistance with negotiations and legal issues. Tailor your pitch to address the unique pain points of selling or renting a property on their own.
Related article
3 FSBO scripts that actually book appointments (+ tips for using them)
10. Stand out with expired listings
If you’re experienced and confident calling expired listings, absolutely call all the new expireds daily. If not, try calling old expireds from several years ago, sending them a handwritten note, or even showing up at their door. This will set you apart from all the other agents calling the same list that you have. Expired sellers have most likely had a less-than-stellar experience with their last agent, so show them how you’ll go above and beyond for them.
11. Build industry partnerships
When it comes to finding real estate clients, there are a few golden geese that might deliver you a golden egg. Divorce attorneys, financial planners, probate attorneys, assisted living managers, rent insurance agents, and estate sale company staffers may be able to connect you with new clients.
Why? Because buyers and sellers typically talk to these professionals before hiring a real estate agent. When you put in the effort to network with strategic partners like these, you increase your chances of receiving high-quality referrals.
PRO TIP
Ask your strategic partners to invite their database of clients and teach seminars with you. Most will jump at the chance.
12. Deliver value with a monthly email newsletter
A monthly email newsletter is a highly effective strategy to stay top of mind and drum up new leads (and it’s free!). Most CRMs will offer an automated email campaign option that keeps you engaged with your sphere, leads, and past clients. The key to a successful newsletter is to offer something valuable each month. You can send local (or better yet, hyperlocal) market reports, educational infographics and digital flyers for your new listings and open houses. Canva is by far the most affordable way to create professional graphics for your newsletters. Basic accounts are free and a pro account is just $10 per month.
Check out CanvaRelated article
Real estate newsletters: The ultimate playbook (+ 49 topic ideas & subject lines)
13. Teach webinars & seminars
In-person seminars and online webinars give you a reason to contact everyone you know and offer something of value. It makes keeping in touch with your sphere and following up with your leads a breeze. Your webinar or seminar topics might focus on helping a specific segment of your network, such as first-time buyers, first-time sellers, families who are downsizing, investor clients, etc.
Seminars also position you as a knowledgeable subject matter expert to potential clients. I’d recommend partnering with appropriate vendors. For example, a mortgage lender is a great partner to collaborate with for your first-time buyer sessions since these clients may have a lot of questions about home financing and lending.
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14. Get involved in your community
There are countless ways to get involved in your community, including volunteering, hosting a booth at a community event or sponsoring a local sports team. You’ll discover new opportunities to get involved by searching your city or town’s municipal website, by joining community Facebook groups, or by calling local organizations such as the public library.
Most community organizations would be more than happy to have an additional volunteer or a sponsor for an upcoming event. You’ll be seen as a leader in your community and it’s an ideal way to meet new people.
PRO TIP
If you’re hosting a booth at an event, capture attendee’s contact information by raffling an enticing prize (a Yeti cooler is always a hit). On the enter to win form, leave a space to ask if or when they might be ready to make a move.
15. Join networking groups
Most of my referrals throughout my career came from networking groups. One benefit of joining networking groups is that everyone else is there for the same reason — to do business. Go in with the mindset of helping those you meet and expanding your network. You can try Business Network International (BNI), Linkedin or Facebook groups, Meetup.com, young professional groups, or groups for entrepreneurs. Learn more about the best places to network and how to do it well in some of my articles, linked here:
Related articles
The ultimate guide to real estate networking
Peer-to-peer networking for real estate professionals
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16. Use social media to prospect online
Social media is an effective alternative to cold calling if that’s not your thing. Being active on your preferred social media channels keeps you top-of-mind with people you already know, so that when they have a real estate need or a referral, you’re the agent or broker they reach out to.
If you’re comfortable in front of the camera, Facebook Lives can help reach a broader audience to showcase your latest listing and share market insights. Try scheduling live sessions in advance to promote your upcoming open house. Using a call-to-action, such as encouraging watchers to reach out for a private showing or to visit your open house, can help convert interested viewers into potential clients.
An added benefit of using Facebook Lives is that you can share them in your feed for your connections to watch later, and you can repurpose them as an archive of “how to” and market information, helping to showcase your market expertise long after the live session has ended.
Stick to the 80/20 rule: Eighty percent of your social media posts should be about topics other than real estate, while twenty percent can be focused on new listings and developments, your market expertise, your open house livestreams, etc. The caveat: If your content is funny or entertaining, you can post more often about real estate topics.
17. Host client appreciation events
In-person events are the most impactful form of communication, and inviting all your past clients to an annual appreciation event is one of the best ways to see them in person. You can use the event to further build relationships, ask for referrals, and show gratitude to your clients. Even if they don’t show up, being invited captures mind share and could very well result in you receiving referrals.
If you don’t have enough past clients for an event, invite current clients, leads, friends, vendor partners and neighbors. Don’t worry about the number of attendees – simply plan it, invite people, and have fun.
Tips for more effective real estate prospecting
Here are some key real estate prospecting tips to help you build and implement your prospecting plan:
- Focus on one to three prospecting strategies at a time
- Set aside time to prospect every day and protect that time (Recommended: 1 to 2 hours/day)
- Give your plan time to work (Recommended: six to 12 months)
- Assess your results quarterly
I recommend conducting a quarterly audit of your real estate prospecting strategies, tracking your results to pinpoint where you’re getting the highest return on investment. That way, you can focus your efforts on what’s working — saving you time, energy and money.
Real estate prospecting: The full picture
Mindset hack: Every day, your job is to go out into the world and find people who need your help buying, selling or investing in real estate. When you do this and make it a daily habit, you’ll build a successful, sustainable business.
Now that you have real estate prospecting strategies to work on, it’s time to create an implementation plan. Consistency is key, and the magic is in the follow-up. If you need a prospecting mentor, I offer coaching services. Check out my VIP DAYS, where we’ll build your plan together, put it on your calendar while protecting your family time, and assess/audit your efforts to ensure things are working.
About Ashley Harwood
Ashley Harwood began her real estate career in 2013 and built a six-figure business as a solo agent before launching Move Over Extroverts in 2018. She developed training materials, classes, and coaching programs for her fellow introverts. Beginning in 2020, Ashley served as Director of Agent Growth for three Keller Williams offices in the Boston metro area. She’s now the Lead Listing agent for the Fleet Homes team in Massachusetts and a regular contributor to Vetted by HousingWire. She created The Quiet Success curriculum and has taught thousands of real estate agents nationwide. She has also been a guest speaker at top industry events and has been named a leading real estate coach by prominent industry publications.
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