How To Prospect for Real Estate Investments

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Real estate investment prospecting can be an essential tool for generating leads. It requires discipline as well as a creative effort, but once a new lead is captured and converted into a client, they will likely become a return customer. Nurturing a relationship with past clients, networking, and becoming a nerd are three prospecting strategies.

Nurture

More than 90 percent of real estate clients reported they would use the same realtor for future deals. In the United States, the typical homeowner sells their home and moves into another about every ten years, with some age groups selling more often. Showing appreciation for past clients by sending real estate prospecting postcards that remember birthdays, wedding anniversaries, or favorite sports team can result in a significant return on investment.

Network

Letting everyone know about the real estate business is a great place to start prospecting. Friends and family are a good place to start. Most importantly, keep talking about the business because most people are not likely to give a referral after just one mention. When people understand the business is active and engaged, they are more likely to become a client and make referrals.

Nerd

Knowing the real estate industry thoroughly can help generate leads. Nerd knowledge or deep knowledge equates to power in the real estate industry as it does in most industries. It may be helpful to focus on one area or town and get to know it inside and out. Having specific and in-depth knowledge can be helpful with prospecting for clients.

Lead generation is an integral part of the real estate industry, and prospecting can be productive. Strategies such as nurturing relationships with past clients, networking, and specialized knowledge are three ways of prospecting. Setting aside adequate time to conduct prospecting can have a positive impact on real estate businesses.

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