{"id":10602,"date":"2022-03-16T10:35:02","date_gmt":"2022-03-16T10:35:02","guid":{"rendered":"https:\/\/www.bayut.com\/agentportal\/?p=10602"},"modified":"2023-12-29T08:19:25","modified_gmt":"2023-12-29T08:19:25","slug":"all-about-prospecting-realtors","status":"publish","type":"post","link":"https:\/\/www.bayut.com\/agentportal\/all-about-prospecting-realtors\/","title":{"rendered":"All About Prospecting For Realtors"},"content":{"rendered":"\n<ul><li><a href=\"#what-is-prospecting\">What Is Prospecting<\/a><\/li><li><a href=\"#types-of\">Types Of Prospecting <\/a><\/li><li><a href=\"#checklist-for\">Checklist For Successful Real Estate Prospecting<\/a><\/li><\/ul>\n\n\n\n<p>Knowing how to prospect in real estate is your gateway to endless opportunities and an essential part of being a successful real estate agent. 56% of agents in a survey conducted by the National Realtors Association say that getting the first conversation or meeting is the most challenging part of a typical sales circle.<\/p>\n\n\n\n<p>If you\u2019re new to prospecting in real estate, here\u2019s our in-depth guide based on our popular session at Bayut Academy. We take you through the essentials of prospecting and share our top tips for mastering this useful skill.<\/p>\n\n\n\n<h2 id=\"what-is-prospecting\"><strong>What Is Prospecting?<\/strong><\/h2>\n\n\n\n<p>Prospecting is the process of finding new contacts and turning them into leads in order to grow your business.<\/p>\n\n\n\n<p>The aim of prospecting is to develop a database of likely customers, communicating with them having an end goal in mind. By end goal, it could just be setting up a meeting, arranging a viewing or creating a listing presentation for them.<\/p>\n\n\n\n<p>Prospecting is the number-one activity that you should be doing daily to achieve long-term success as a sales professional. It outranks every other skill, simply because you can\u2019t really do much in sales unless you first have people you can sell to.<\/p>\n\n\n\n<p>Prospecting is NOT to be done occasionally or only when you think business is slow. It is an everyday task, that requires \u2018discipline\u2019 and requires commitment. All you need is the right amount of hard work and perseverance and you\u2019re good to go.&nbsp;<\/p>\n\n\n\n<h2><strong>Why Prospect?&nbsp;<\/strong><\/h2>\n\n\n\n<ul><li>Ensures a steady flow of clients&nbsp;<\/li><li>Protects you from the effect of customer turnover or delayed purchase&nbsp;<\/li><li>Helps you replace new customers with those you have lost&nbsp;<\/li><li>Allows you to position yourself as a trusted advisor amongst your clients.<\/li><\/ul>\n\n\n\n<p>Prospecting has evolved over the years, with technology also making a difference in how people prospect. Let\u2019s look at the key differences between prospecting in the past, or traditional prospecting, versus prospecting today, or modern prospecting.<\/p>\n\n\n<style>table#tableTopHeader903505,#tableTopHeader903505 td,#tableTopHeader903505 th,#tableTopHeader903505 caption{border:0;}#tableTopHeader903505 th[scope=\"row\"]{text-align: left;}#tableTopHeader903505 .mobile{display: none;}#tableTopHeader903505 .content td{text-align: center;}#tableTopHeader903505 .content td{padding: 10px 0;}#tableTopHeader903505 .content:nth-child(even) {background-color: #f7f7f7;}#tableTopHeader903505 .content:nth-child(odd) {background-color: #D1EDE1;}#tableTopHeader903505 th[scope=\"col\"]{text-align:center;}#tableTopHeader903505 th[scope=\"col\"] div:nth-child(1){border-top: 2px solid #000000;display: inline-block;border-bottom: 2px solid #000000;padding: 2px 5px 3px;margin-bottom: 10px;}@media only screen and (max-width: 600px) {#tableTopHeader903505 th[scope=\"row\"],#tableTopHeader903505 td {display: block;}#tableTopHeader903505 th[scope=\"row\"]{text-align: center; padding: 20px 0 10px;}#tableTopHeader903505 .desktop{display: none;}#tableTopHeader903505 .mobile{display: block;}.#tableTopHeader903505 content td div:nth-child(1),#tableTopHeader903505 .content td div:nth-child(2){display: inline-block; width: calc(50% - 10px); padding: 5px; vertical-align: top; text-align: left;}#tableTopHeader903505 .col-head{font-weight: bold; padding: 10px 0 5px;}#tableTopHeader903505 .content td{padding: 10px 0; margin: 10px; background-color: #ffffff;}#tableTopHeader903505{border-spacing: 0 15px;}}<\/style>\n<table width=\"100%\" border=\"0\" cellspacing=\"2\" cellpadding=\"0\" id=\"tableTopHeader903505\" class=\"datatabletopheadfilled\" dir=\"ltr\">\n<tbody>\n<tr class=\"header desktop\"><\/tr>\n<tr class=\"header desktop\">\n<th scope=\"col\">\n<div class=\"col-head\">TRADITIONAL PROSPECTING<\/div>\n<\/th>\n<th scope=\"col\">\n<div class=\"col-head\">MODERN PROSPECTING<\/div>\n<\/th>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">TRADITIONAL PROSPECTING<\/div>\n<div class=\"values\">Trade shows <\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">MODERN PROSPECTING<\/div>\n<div class=\"values\">Bayut and dubizzle <\/div>\n<\/td>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">TRADITIONAL PROSPECTING<\/div>\n<div class=\"values\">Cold Calling <\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">MODERN PROSPECTING<\/div>\n<div class=\"values\">Social Media Groups<\/div>\n<\/td>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">TRADITIONAL PROSPECTING<\/div>\n<div class=\"values\">Articles In Publications<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">MODERN PROSPECTING<\/div>\n<div class=\"values\">Warm Calling<\/div>\n<\/td>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">TRADITIONAL PROSPECTING<\/div>\n<div class=\"values\">Advertising In Print Media<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">MODERN PROSPECTING<\/div>\n<div class=\"values\">Sharing Insightful Content <\/div>\n<\/td>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">TRADITIONAL PROSPECTING<\/div>\n<div class=\"values\">Direct Mail<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">MODERN PROSPECTING<\/div>\n<div class=\"values\">Social Media\/PPC ads<\/div>\n<\/td>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">TRADITIONAL PROSPECTING<\/div>\n<div class=\"values\">Door-to-door Sales <\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">MODERN PROSPECTING<\/div>\n<div class=\"values\">Email Marketing<\/div>\n<\/td>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">TRADITIONAL PROSPECTING<\/div>\n<div class=\"values\">Sales Letters<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">MODERN PROSPECTING<\/div>\n<div class=\"values\">Searching Customer Profiles<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<p>Where do you find your prospects and how do you reach out to them? To answer this question, we\u2019ve divided the prospect types and how you can reach them in the table below:<\/p>\n\n\n<style>table#tableTopHeader191494,#tableTopHeader191494 td,#tableTopHeader191494 th,#tableTopHeader191494 caption{border:0;}#tableTopHeader191494 th[scope=\"row\"]{text-align: left;}#tableTopHeader191494 .mobile{display: none;}#tableTopHeader191494 .content td{text-align: center;}#tableTopHeader191494 .content td{padding: 10px 0;}#tableTopHeader191494 .content:nth-child(even) {background-color: #f7f7f7;}#tableTopHeader191494 .content:nth-child(odd) {background-color: #D1EDE1;}#tableTopHeader191494 th[scope=\"col\"]{text-align:center;}#tableTopHeader191494 th[scope=\"col\"] div:nth-child(1){border-top: 2px solid #000000;display: inline-block;border-bottom: 2px solid #000000;padding: 2px 5px 3px;margin-bottom: 10px;}@media only screen and (max-width: 600px) {#tableTopHeader191494 th[scope=\"row\"],#tableTopHeader191494 td {display: block;}#tableTopHeader191494 th[scope=\"row\"]{text-align: center; padding: 20px 0 10px;}#tableTopHeader191494 .desktop{display: none;}#tableTopHeader191494 .mobile{display: block;}.#tableTopHeader191494 content td div:nth-child(1),#tableTopHeader191494 .content td div:nth-child(2){display: inline-block; width: calc(50% - 10px); padding: 5px; vertical-align: top; text-align: left;}#tableTopHeader191494 .col-head{font-weight: bold; padding: 10px 0 5px;}#tableTopHeader191494 .content td{padding: 10px 0; margin: 10px; background-color: #ffffff;}#tableTopHeader191494{border-spacing: 0 15px;}}<\/style>\n<table width=\"100%\" border=\"0\" cellspacing=\"2\" cellpadding=\"0\" id=\"tableTopHeader191494\" class=\"datatabletopheadfilled\" dir=\"ltr\">\n<tbody>\n<tr class=\"header desktop\"><\/tr>\n<tr class=\"header desktop\">\n<th scope=\"col\">\n<div class=\"col-head\">Referral Prospects<\/div>\n<\/th>\n<th scope=\"col\">\n<div class=\"col-head\">Portal Prospects<\/div>\n<\/th>\n<th scope=\"col\">\n<div class=\"col-head\">Organic Prospects <\/div>\n<\/th>\n<th scope=\"col\">\n<div class=\"col-head\">Pay-Per-Click Prospects<\/div>\n<\/th>\n<th scope=\"col\">\n<div class=\"col-head\">Database Prospects<\/div>\n<\/th>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">Referral Prospects<\/div>\n<div class=\"values\">Your past clients<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Portal Prospects<\/div>\n<div class=\"values\">Phone leads from Bayut.com<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Organic Prospects <\/div>\n<div class=\"values\">Social media audience<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Pay-Per-Click Prospects<\/div>\n<div class=\"values\">Sponsored ads on Facebook or Instagram<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Database Prospects<\/div>\n<div class=\"values\">Database of contact numbers <\/div>\n<\/td>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">Referral Prospects<\/div>\n<div class=\"values\">Your existing clients<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Portal Prospects<\/div>\n<div class=\"values\">Email leads from Bayut.com<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Organic Prospects <\/div>\n<div class=\"values\">Email database leads<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Pay-Per-Click Prospects<\/div>\n<div class=\"values\">Google adwords<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Database Prospects<\/div>\n<div class=\"values\">Database of old enquiries<\/div>\n<\/td>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">Referral Prospects<\/div>\n<div class=\"values\">Your own network<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Portal Prospects<\/div>\n<div class=\"values\">WhatsApp leads from Bayut.com<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Organic Prospects <\/div>\n<div class=\"values\"><\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Pay-Per-Click Prospects<\/div>\n<div class=\"values\">Google display ads <\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Database Prospects<\/div>\n<div class=\"values\">Database of owners<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<p>If we compare the prospects in terms of quality versus quantity, we can say that<strong> referrals and Bayut and dubizzle leads<\/strong> would be considered the highest quality, while database prospects would be at the bottom (although you have a higher quantity of database leads). This is because, with a referral, you have a higher chance of them working with you, unlike someone you\u2019ve prospected from a database.<\/p>\n\n\n\n<p>We\u2019ve organised the types of prospecting in the chart below, indicating the quality and quantity of leads per unit of effort.<\/p>\n\n\n\n<p><img width=\"928px;\" height=\"481px;\" src=\"https:\/\/lh3.googleusercontent.com\/rxzD68PXY972DBBLcNGhKsQMs3baEAjoCngshyMx0iWML-YVTT7sc449Ggw-93f_A0m7w-T6c1xgiFbFHUY_dWvUT4ONCejZZ-hG2f66rtEJv13-RcpZ_ehAb0is2NSULH6fSEs5CbR-\"><\/p>\n\n\n\n<p><em>This chart does not mean one type of prospecting is better than the other.&nbsp;<\/em><\/p>\n\n\n\n<p>You can use this to understand the amount of effort required for each type of prospecting.&nbsp;<\/p>\n\n\n\n<p>For example, maximum effort is required in attaining a lead from \u201cdatabase\u201d while minimum effort is required in attaining a lead from&nbsp; Bayut and dubizzle and referrals.<\/p>\n\n\n\n<h3><strong>Activity Time<\/strong><\/h3>\n\n\n\n<p>Read the scenario provided below. You are Sara, a real estate agent  (you) and a project at Dubai Creek Harbour. How would you share details about the property to an email lead from Bayut who has requested for more details. <\/p>\n\n\n\n<p><img src=\"https:\/\/lh5.googleusercontent.com\/fWCaLRh2PV87hZq6d3dYWNaE80M9Fwwlg6LYuP5_hOwEv6evURwzClqfm0tLhqNEnKSxOvLxIHLf7Zr8XIf1uCX8ca4u1pj8WHGpv18vIsFfK8yJVdunceVS9xd9lTMHAjSS4Fzb\" style=\"width: undefinedpx;\"><\/p>\n\n\n\n<h3 id=\"types-of\">Types Of Prospecting<\/h3>\n\n\n\n<p>There are two broad styles of prospecting, active and passive prospecting:&nbsp;<\/p>\n\n\n<style>table#tableTopHeader695481,#tableTopHeader695481 td,#tableTopHeader695481 th,#tableTopHeader695481 caption{border:0;}#tableTopHeader695481 th[scope=\"row\"]{text-align: left;}#tableTopHeader695481 .mobile{display: none;}#tableTopHeader695481 .content td{text-align: center;}#tableTopHeader695481 .content td{padding: 10px 0;}#tableTopHeader695481 .content:nth-child(even) {background-color: #f7f7f7;}#tableTopHeader695481 .content:nth-child(odd) {background-color: #D1EDE1;}#tableTopHeader695481 th[scope=\"col\"]{text-align:center;}#tableTopHeader695481 th[scope=\"col\"] div:nth-child(1){border-top: 2px solid #000000;display: inline-block;border-bottom: 2px solid #000000;padding: 2px 5px 3px;margin-bottom: 10px;}@media only screen and (max-width: 600px) {#tableTopHeader695481 th[scope=\"row\"],#tableTopHeader695481 td {display: block;}#tableTopHeader695481 th[scope=\"row\"]{text-align: center; padding: 20px 0 10px;}#tableTopHeader695481 .desktop{display: none;}#tableTopHeader695481 .mobile{display: block;}.#tableTopHeader695481 content td div:nth-child(1),#tableTopHeader695481 .content td div:nth-child(2){display: inline-block; width: calc(50% - 10px); padding: 5px; vertical-align: top; text-align: left;}#tableTopHeader695481 .col-head{font-weight: bold; padding: 10px 0 5px;}#tableTopHeader695481 .content td{padding: 10px 0; margin: 10px; background-color: #ffffff;}#tableTopHeader695481{border-spacing: 0 15px;}}<\/style>\n<table width=\"100%\" border=\"0\" cellspacing=\"2\" cellpadding=\"0\" id=\"tableTopHeader695481\" class=\"datatabletopheadfilled\" dir=\"ltr\">\n<tbody>\n<tr class=\"header desktop\"><\/tr>\n<tr class=\"header desktop\">\n<th scope=\"col\">\n<div class=\"col-head\">Active Prospecting <\/div>\n<\/th>\n<th scope=\"col\">\n<div class=\"col-head\">Passive Prospecting<\/div>\n<\/th>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">Active Prospecting <\/div>\n<div class=\"values\">Activities that require your ongoing time and effort in the moment<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Passive Prospecting<\/div>\n<div class=\"values\">Activities that run on autopilot <\/div>\n<\/td>\n<\/tr>\n<tr class=\"content\">\n<td>\n<div class=\"mobile col-head\">Active Prospecting <\/div>\n<div class=\"values\">Examples: Setting up open houses\/events, Calling your database<\/div>\n<\/td>\n<td>\n<div class=\"mobile col-head\">Passive Prospecting<\/div>\n<div class=\"values\">Examples: Digital marketing campaigns, Email newsletters <\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n<ul><li>Do your research well before you make a call or start a conversation. Having a thorough understanding of the property and being ready for any questions the client may have is important. If you\u2019re on a call with a potential client and they feel like you\u2019re unsure about the property, they may hesitate to work with you.<\/li><li>Always use the client\u2019s name, instead of Ma\u2019am or Sir. People appreciate being called their first names and it\u2019s a subtle way to build rapport<\/li><\/ul>\n\n\n\n<p><br>For example, \u201cHi, My name is Dan from Star Real Estate Dubai. The reason I am calling is because you had registered your interest in a property in Dubai Opera District.\u201d<\/p>\n\n\n\n<ul><li>Focus on solving a problem, rather than just selling a property. Understand your client\u2019s needs, so that you can cater to them better<\/li><li>Maintain a natural flow of conversation. One tip to doing this is asking open-ended questions (questions that prompt a conversation, rather than yes\/no answers), such as \u201cwhat are you looking for in your dream home\u201d. If you\u2019d like to hone your conversation skills, check out our guide on <a href=\"https:\/\/www.bayut.com\/agentportal\/downloadables\/nail-your-first-conversation\/\" target=\"_blank\" aria-label=\"undefined (opens in a new tab)\" rel=\"noreferrer noopener\">Nailing the First Conversation<\/a>.<\/li><\/ul>\n\n\n\n<h3>Common Misconceptions About Prospecting<\/h3>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><strong>Myth: <\/strong>Prospecting is about &#8216;talking a lot&#8217;<\/p><p><strong>Fact: <\/strong>The best salespeople are active listeners. <br>It&#8217;s not about who talks the most, but who asks the right questions to drive the conversations forward. <\/p><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><strong>Myth<\/strong>: Prospecting is for extroverts<\/p><p><strong>Fact<\/strong>: You need to believe in yourself, your product and the value the product can add to the client. <br>If you believe in it, your confidence will shine through<\/p><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote\"><p><strong>Myth<\/strong>: If I serve my existing clients well, I don&#8217;t need to prospect<\/p><p><strong>Fact<\/strong>: Taking care of existing customers is something that we all do. <br>Successful real estate agents will tell you that they do not allow their time to be allocated to existing clients. <\/p><\/blockquote>\n\n\n\n<h3 id=\"checklist-for\">Checklist For Successful Prospecting <\/h3>\n\n\n\n<ul><li>Set a goal <\/li><li>Allocate dedicated time<\/li><li>Follow a consistent schedule<\/li><li>Implement different techniques<\/li><li>Evaluate different techniques<\/li><li>Be a value provider<\/li><li>Know that prospecting is not selling<\/li><\/ul>\n\n\n\n<p>Prospecting isn\u2019t all roses and rainbows; there are days when you may face rejection or find yourself wondering if you\u2019re just wasting your time.&nbsp;<\/p>\n\n\n\n<p>If you ever find yourself in such a situation, remember that having the right mindset is the only way to achieve success. You can check out our guide on the <a aria-label=\"undefined (opens in a new tab)\" href=\"https:\/\/www.bayut.com\/agentportal\/the-mindset-of-an-agent-achieving-success-in-real-estate\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mindset Of An Agent<\/a> to understand the frame of mind that can lead to success in real estate.&nbsp;<\/p>\n\n\n\n<p>Curious about what your prospecting style is? We have a self-assessment for attendees of our session at Bayut Academy, where you can find out your prospecting style.&nbsp;<\/p>\n\n\n\n<p>Some advice from the experts on having the right mindset to prospect:&nbsp;<\/p>\n\n\n\n<ul><li>Stay consistent and keep working on your conversational and research skills<\/li><li>Value relationships over transactions. Remember, real estate is a people-focused industry<\/li><li>Let your clients know how you can help them (by offering value).<\/li><\/ul>\n\n\n\n<p>Continuous prospecting can be quite beneficial for you. It can help you:<\/p>\n\n\n\n<ul><li>Expand your network<\/li><li>Keep your business pipeline full<\/li><li>Position yourself as an expert&nbsp;<\/li><li>Make you feel confident.<\/li><\/ul>\n\n\n\n<p>To summarise, we would like to encourage you to prospect every day and never give up. Set time for it, commit to research and reach out to as many prospects as possible. Consistent efforts and constant improvement can definitely help you set yourself up for success.&nbsp;<\/p>\n\n\n\n<p>If you\u2019ve found this article informative and are looking for more resources to take your real estate career to the next level, visit our <a href=\"https:\/\/www.bayut.com\/agentportal\/\">Content Corner<\/a> on the Agent Portal. You can also join us at <a href=\"https:\/\/www.bayut.com\/academy\">Bayut Academy,<\/a> our in-house series of trainings for real estate professionals in the UAE<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are you prospecting your way to success in real estate? Read our guide to understand effective prospecting and how you can master this skill.<\/p>\n","protected":false},"author":7,"featured_media":10631,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[381],"tags":[],"category_group":[],"yst_prominent_words":[67],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v14.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prospecting for real estate agents in the UAE<\/title>\n<meta name=\"description\" content=\"What is prospecting and how do you prospect efficiently? 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