What is prospecting for real estate sales?
Prospecting in real estate is the process of finding property owners who are considering selling and turning them into listings in order to grow your business. For years sales coaches and training programs have taught prospecting using a mix of email and phone outreach, increasing social media engagement, and meeting people in person through community events and networking.
Securing a listing is the lifeblood of any estate agency. Getting it right delivers agency growth, stability, team engagement and good times for all. Getting it wrong (and missing opportunities) is painful for everyone.
Most sales agents spend a significant amount of time and generate most of their leads through manual outreach - cold calling, door knocking and hanging out at loads of community events. It’s always time-consuming. It’s often soul-destroying and generally, it’s not that effective. When you are talking to everyone, you can often miss that small group who are actually ready to sell right now.
There has to be a better way - right?
10 years ago when we started the build of Rex CRM its goal wasn’t just to create an effective database of people and properties. We wanted to build a system to provide the platform for lifelong relationships with property owners. That mission hasn’t changed. We still have a laser focus on ensuring Rex optimises every contact you make and ensures you never again have to see known contacts sign instructions with a competitor.
When you are in regular contact with all the homeowners in your area, and watching the cues that are starting to think about selling, you can be much more targetted in your prospecting activities. Developing these kinds of personal relationships with loads of relevant and regular communications has been key to a successful estate agency - the challenge has always been - how to do this at scale. How to have 2,000 personal relationships that feel authentic and genuine.
Using Rex CRM for real estate prospecting
It all starts with our native integrations with Core Logic (AU) (NZ) and Land Registry (UK). This gives you the ability to bring every property in your area into your database. With the properties tied down you can start to build your knowledge of the owners - how big their family is? Are schools important? Have their circumstances changed? All the things you’ll learn over time if you build a personal relationship with them.
Using our unique communication workflows (Tracks) that can be set up to ensure every contact or property in your database is receiving consistent, on-brand messages, Rex CRM lets you prospect within your database, and take the pressure off those awkward cold calls or door knocks.
What is a “Track”?
Love or hate them, to-do lists are a great way to stay on track and not miss anything. Checklists are really important when you are engaging with your database.
In Rex, we’ve taken the idea of a to-do list and turned it into a digital workflow called Tracks. They are your roadmap of consistent communication (reminders, SMS, emails & letters) that keep you front and centre in the property owners mind, whatever their status in the sales cycle.
Rex throws down a track of carefully curated reminders that prompt you to take an action after a certain amount of time. In Rex, these appear as pre-defined lists of follow up activities, which can be quickly attached to a property, listing or contact record.
Reminders in Rex can then be used to help you build long-term relationships with your clients, automate tasks and save you time.
Check out some of our top performing tracks here.
In the UK, 50% of homes will come to market within 6 years.
In Australia and New Zealand half of homes these days are being sold within 4 years.
Let’s be honest, if you were looking for someone to sell your house, would you go with the agent who called you once last year and hasn’t been heard from since? Or the one who regularly keeps in touch with useful tips and information? When homeowners decide to sell, you want it to be with you. Consistent on-brand communication is key – and we’ve perfected the follow-up, with Tracks.