What has Terry Hassett learned about prospecting after 31 years in the real estate business?  Here he presents his top-ten list for low-cost prospecting that brings results.

Here’s Terry’s description in his own words:

“I recently read an article advocating the economical benefits of knocking on doors for business.  As a professional salesperson, this can be a great source of new business, or a skill-building exercise, but cold doors are not the most productive use of our time.  Here are 10 low-cost strategies that make better use of that valuable time…

1. Call Your Sphere of Influence.  It’s easy to stay connected during a transaction, but connections can fade easily when you get busy.  Call to stay in touch, see how things are going and ask if they need anything.  Add names as you go.
2. Visit Your Sphere.  This is effective if your sphere member owns a business you can call on, but also fills time voids on evenings and weekends.  Face time is valuable, if only for a minute, just to drop off an item of interest or a small gift.
3. Visit For Sale by Owners.  Get to know these sellers and their inventory.  Offer assistance in a no-pressure atmosphere as a way of learning the inventory and helping them with their purchase when they sell.
4. Visit Newly Expired Listings.  If you are an expert in a given area, you can let potential sellers know this.  If you happen to be in the neighborhood, you can introduce yourself.
5. Visit Local Builders.  Getting to know your builders is a good way to meet people, learn the market, and obtain listings.
6. Visit Your Geographic Farm Area.  Introduce yourself properly to your selected farm and make regular, repeat visits with a purpose.  As you go, you can visit the For Sale By Owner’s and Expired Listings also.
7. “5×5“ Your New Listings and Just Sold Properties, in Person.  Meet the neighbors.  Find out who’s thinking of moving.  Visit a minimum of 5 doors to the left, 5 to the right and 5 across.  You don’t have to settle on 5…the more the better.
8. Visit Local Small Businesses.  Become a “regular“ and well known to the people there – in a positive light.  Become a source of information for them and their clientele.
9. Visit Landlords.  If you see someone working on a rental property, stop by and introduce yourself, especially if it’s in your geographic farm.  They may be your next listing.
10. Mail Absentee Owners.  This can be one of the most productive uses of a regular mail campaign in non-peak meeting times.

How best to do this:  First, dress appropriately.  Be sincere.  Don’t be a “one-hit wonder“… visit repeatedly as part of a campaign.  Take something of interest; be it an article, newsletter, or other piece of information.  Be prepared and practice your 15 second opening presentation.  Remember your goals.  Don’t think about it too much or you won’t do it.  Mix it up and have fun.  Ask for referrals.  Send Thank You Notes.  Seek constant improvement.  Hire help when needed to keep you in the field.  Track your numbers.  And use regular mailings to follow-up.“