Low-Budget Real Estate Prospecting Techniques

One of the greatest challenges faced by Atlanta real estate agents today is shrinking profit margins and high prospecting costs. I have seen real estate agents spending hundreds of dollars on online real estate prospecting that rarely delivers them any significant results.  Although real estate prospecting is the first step of getting a good, Untitled1profitable real estate deal, it is important that you allocate a proportion of your profit to the prospecting task so that you don’t end up spending all of your earning on this process.

When conducting workshops and training programs at Platinum Real Estate, I suggest new, inexperienced real estate agents to smart real estate prospecting techniques to generate high-quality leads cost-effectively. I am sharing those tips here. Use these tips to reduce your prospecting costs while improving your chances of getting a profitable Atlanta real estate deal.

Tip No. 1: Don’t Underestimate Cold Calling

In my opinion, cold calling is the most effective real estate prospecting technique. It’s simple, easy, and cost-effective, and is perfect for real estate agents who are struggling with budget constraints.

Use cold calling to get your message out to your prospective clients in a budget-friendly manner. Pick up the phone and call your prospects to let them know that you’re willing and competent enough to conduct their real estate transaction.

Tip No. 2: Ask for Referrals

Remember that communication skills are an asset for a real estate agent. If you’re unable to speak up for yourself, you’re unlikely to meet success in this industry. Don’t hesitate asking your satisfied clients for referrals.

The best time to ask for a referral is when you’ve just closed a real estate deal and are handing over the keys to your client. You may also consider adding a small message to your email signature asking your past and current clients for referrals.

Tip No. 3: Prospect Online

When you’re low on prospecting budget, use social media. While advanced online real estate prospecting techniques, such as Google Adwords, paid advertisements, Google display network, etc. require you to spend a certain amount in order to advertise your business to a large audience, you may consider using basic, free online marketing tactics.

For example, Facebook allows you to create a business page for free. Similarly, you can create an account on other social media websites, like Pinterest, Instagram, LinkedIn, and Twitter without even spending a penny. The key to find qualified leads online is to connect proactively with your audiences. Post an interesting image or an article to stay relevant. Initiate discussions on interesting topics and encourage your followers to participate. This way you can build your reputation as a client-oriented real estate agent and improve your chances of getting more Atlanta real estate deals.

Experiment with one of these techniques and you’re sure to notice a significant difference in your number of leads.

Register today for my upcoming Million Dollar Producer workshop.

January 23, 2016.  For more information visit my website www.lutherragsdale.com

To learn more about prospecting online, download my free eBook “The Viral Noise – Social Media Marketing for Real Estate Agents.”

To learn more tips and tricks of real estate prospecting, keep reading my blogs on Luther Ragsdale.com and PlatinumRealEstate.com.

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