Prospecting is one most misunderstood concepts in our industry. 
I am always seeing ads trying to sell prospecting-free systems claiming “you will never have to prospect again if you use my system”... And secretly, deep inside REALTORS don’t want or like to prospect... I believe this because we readily purchase the latest” too good to be true” NO-Prospecting Gimmick.
Our industries readiness to buy into the next “EASY-BUTTON” could cause an unintended side effect I call The Abandonment of Sound Prospecting Principles…As REALTORS, if we buy into the myth of a prospecting-free sales system and we fail to learn sound prospecting principles… abandoning the ability to continually develop quality leads, we risk ending up like the dog chasing the car and the inevitable result of endangering our livelihoods in the real estate business.
The basic definition of prospecting is: Seeking a potential client with a vision of success. (Take notice there is not one mention about waiting or hoping). The definition depicts action being taken… starting with the word seeking. Prospecting involves seeking people to do business with and then building quality relationships with them.
Don’t make light of the other key phrase, which is…. “With a vision of success”… Prospecting requires a positive mindset… if you go into the process with a negative attitude, your results will be negative as well.
As a new Realtor in the 1980’s I knew to be successful I had to prospect.I didn’t know much more than that, but I did recognize the value of relationships and a referral based system. I would be in the office at 7:00 a.m. and by 8:00 I’d be calling or sending notes to expired listings, FSBOs, people within my book of business… whoever I could reach out to. A lot of the experienced associates scoffed at my methods… but they were soon quieted when my listings and sales put me on the top producer list my first full year in the business.
Prospecting Is:
- Calling previous clients
- Calling people in your book of business
- Pop By Visits
- Sending Hand Written Personal Notes
- Sending Items of Value
- Open Houses
- Calling expired listings or FSBO’s or performing "Just Listed" activities
Marketing is:
- Mailing magnets, newsletters, calendars, and almost anything else
- Setting up a personal website
- Turning your car into a rolling billboard
- Sponsoring a community sports team
- Plastering your face on shopping carts
- Pinning your cards on bulletin boards
While marketing is good, Prospecting is the Key to Your Success.
Eddie Brown ©2010
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