PROSPECTING SUCKS. DON’T DO IT.
I hate prospecting, don’t you?
It feels dirty hitting up my friends and family for business. It’s even worse calling people you don’t know. The idea of collecting ‘No’s’ makes my skin crawl. I can’t think of a bigger waste of my time and energy than purposefully immersing myself in rejection. Especially now, when people are less tolerant than ever of this kind of intrusion.
Prospecting for business is an insult to your personal relationships and a tough way to try to start a relationship with a stranger. And unfortunately, it’s kind of the hallmark of everything people hate about salespeople.
So I don’t do it. Yet, in both units and volume, I still outperform most agents in my market. Without prospecting.
But how? I have asked myself this question many times because, just like you, I was taught that business doesn’t just fall from the sky. You have to go get it.
BUILDING BUSINESS AS A REAL ESTATE AGENT
I’m getting business alright, but I cannot trace a single transaction back to a prospecting call that I made, which just reinforces my belief that prospecting is a waste of my time. More than I can count, I’ve heard, “Yeah, but imagine the business you’d have if you actually tried??” Yikes–so now I have prospecting guilt too. It’s like I’m doing this whole business wrong.
Or am I? Like I said, I do well, consistently. I’m also happy (the happiest, in fact) and don’t really hate much about the work I do. So I’m not really doing business wrong, I’m just doing it differently.
PROSPECTING WORKS—BUT IT’S NOT FOR EVERYONE
The thing about traditional prospecting—pound the phones, five calls a day, power hours, etc.—is that it does work. And it can work for anyone.
Everyone has a database or can get or make one. Everyone has access to a phone. There are proven scripts available that anyone can use. Classic prospecting is a great default business-building strategy, especially in lean times like 2023, where the ratio of agents to inventory is massive and competition is fierce.
But what I want for YOU is to think for yourself. Do you like pounding the phones? Are you naturally good at it? If the answer is no, then building your business will be an uphill battle for you—unless you find another way.
WHAT TO DO INSTEAD OF PROSPECTING
When we talk about prospecting, we’re really talking about building up and maintaining the relationships that lead to business, and there are a hundred different ways to do that. You just have to find yours and lean into it.
For me, it’s engaging with my community. I go HAM on that stuff–I’m on NPO boards, attend events, give generously to causes I care about, volunteer regularly, promote people and businesses I like, and am generally a cheerleader for other human beings. I’m consistently out there about it. People know exactly what I do for a living, and they know a lot about my character and expertise because it comes up organically.
What you need to do is find out what makes you tick when it comes to making connections. Maybe you’re not as extroverted as many agents, so events and the like aren’t your thing, but you love to share your wisdom in writing. Create the best damn real estate blog in your community. Sit on a volunteer board where the crowds are a little smaller.
Whatever it is, do it with your whole heart, and more than anything, be consistent. Because once your ‘prospecting’ machine is up and running, the business really does just seem to fall from the sky.