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Keys to Prospecting for Real Estate Business

Part of the Success as a Real Estate Agent For Dummies Cheat Sheet

Prospecting for real estate buyers requires positive expectations. It requires a positive-results mindset, in part to overcome the influences of all the other agents who don't prospect, don't value prospecting, and stand by to negatively influence your vision and expectation of success.

Merriam-Webster defines prospecting as "seeking a potential customer; seeking with a vision of success." Notice that nothing in that definition deals with waiting or hoping. Starting with the word "seeking," the definition revolves around action being taken by the salesperson. In its most basic sense, prospecting involves finding people to do business with.

Take a look at the following table to get an idea of which agent activities are considered prospecting and which aren't.

What Prospecting Is What Prospecting Isn't
Calling past clients Mailing magnets, calendars, and other trinkets
Calling people in your sphere of influence Setting up a website
Calling expired listings Joining service organizations
Calling FSBOs Wearing your name badge
Cold calling for listings and sales Placing magnetic signs on your car
Knocking on doors Sponsoring a community sports team
Hosting open houses Doing floor time
Calling absentee owners Answering e-mails
Cold calling from lists of names Pinning your business card on bulletin boards
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