Building a resilient pipeline: 8 prospecting strategies to thrive in any market

Politics, natural disasters, economic shifts—so much can change in an instant, and much of it is out of our control. Despite these forces, you need to stay competitive and continue to attract new business. So, where does that leave you in the real estate prospecting department? How can you build a resilient pipeline that can thrive in any market condition? Weichert® has assembled a bank of 8 surefire prospecting strategies to help you maintain a steady stream of leads no matter what’s going on around you.

Strategy 1: Take a people-first approach

We put this prospecting strategy at the top of the list because nothing is more important than focusing on people. It’s what we stand for here at Weichert. When you do this, everything else falls into place. So, make it a permanent lens for how you look at prospecting. 

Don’t fall into the trap of only using quick, digital tactics. Look at each prospect as a chance to connect with a person and build a future relationship. Do your research to understand their wants and needs. Show your value in a way that will resonate with those wants and needs. When given the opportunity to dialogue, really listen to what they have to say. Make their agenda your agenda. Getting face to face will serve you well in every market condition.

Strategy 2: Establish referral partnerships

While you’re in your people-first mindset, widen your lens to establish referral partnerships, particularly in your own community. Actively create connections with other businesses, groups, or community services that can send potential customers your way. 

For example, supporting local sports teams can create a positive association with families in the neighborhood. There’s a trust factor that comes into play; one which prospect will view favorably, especially over time. Another partnership is through local charity organizations. But like planting seeds, this strategy requires time, so be patient. Just make sure you’ve dialed in on partnerships that align with your expertise and business goals so you’re cultivating seeds most likely to bloom.

Strategy 3: Nurture past customers

It’s no surprise that this third prospecting strategy on our list is still all about people. With lead generation, there’s a natural, forward-thinking approach to connecting with new leads. How many new leads have you added to your database? How many have you converted? While these numbers are important, keep in mind that there’s already a qualified pool of people awaiting your TLC: past customers. 

Warm leads are easier to reach out to and potentially convert into new business compared to completely new prospects. You can really personalize your messaging because you have the gift of a prior relationship to draw from. Leverage their past positive experiences to re-engage. So, be sure to keep them top of mind when prospecting. Past customers can provide so much more than a referral base, testimonials, and reviews. They can offer you potential repeat business and insights into customer preferences.

Strategy 4: Use AI to your advantage

Artificial intelligence in real estate is on a trajectory to change how we work. It streamlines day-to-day tasks, like writing emails, scripts, and property descriptions, but your human touch ensures that these communications remain personal and impactful. 

That’s why we feel that the best approach to AI is to think of it as a tool that works for you—not replaces you. Use it as a jumping-off point and find ways to layer it with your own touch. For example, let AI write that new business or follow-up email for you, but then take over and finesse the second draft before sending it out. Only you will know the personal nuances that will connect you with your audience and make you stand out. By integrating artificial intelligence into your lead generation strategies, you can be more efficient with certain tasks, giving you more time to spend on cultivating meaningful relationships.

Strategy 5: Diversify your lead sources

Relying on a single lead source to build your entire prospecting pipeline can be risky. It opens you up to sudden changes that are out of your control, such as new social media algorithms, the rise and fall of platforms, and regulation shifts. Over-reliance on any one source is not ideal. It’s the old “don’t put all your eggs in one basket” theory. 

Therefore, there are many benefits to diversifying your lead generation sources, from reaching different audiences to maintaining a consistent flow of communication to feeling like you always have options. So, be sure to include multiple avenues for prospecting, such as targeting the FSBO market, paid advertising, and community involvement. This strategy is another surefire way to take charge of your pipeline.

Strategy 6: Be methodical with social media

According to statistics from NAR, social media is more powerful than MLS for generating quality leads:

• Social media 52%
• Local MLS 26%

In fact, social media’s interactive nature allows agents to foster relationships and engage in conversations with their audience, which is crucial for building trust and understanding the needs of potential sellers and buyers.

By maintaining active profiles on platforms like Facebook, Instagram, and LinkedIn, you can showcase your listings, share success stories, and provide valuable market insights in a visually appealing and engaging manner. It’s the mix of all of the above that can keep you one step ahead with your prospecting efforts.

Strategy 7: Update your data regularly

Effective prospecting is more than just the hunt. It’s about keeping the information you already have fully up to date. While this can be time-consuming, it’s key because, quite simply, accurate data ensures your outreach efforts are targeted and effective, saving time and increasing conversion rate. You don’t want to put a massive effort into a few prospects only to learn that they already moved six months ago or decided to sell on their own. Use automation and technology to help you stay on top of information as it changes. This way, you can continue to target your efforts and communications in the most personalized, significant way.

Strategy 8: Keep building your network

As you continue to put great effort into generating leads, pay close attention to building your own professional network. It’s something brokers can easily lose track of because you’re always working hard to help everyone else on the team. But this effort can result in a wider pool of potential customers. Use LinkedIn to make connections, attend professional conferences, join networks, and keep creating opportunities to expand your reach. 

These 8 strategies bring us full circle to where we began this blog: the importance of focusing on people. No matter what’s going on in the world, this approach can help you and your agents build resilient prospecting pipelines. When you keep people at the center, you’re sure to come out a winner!Do you value people and relationships as much as we do? We might be a great fit. Contact us to see if our core values are a match for you.