Prospecting vs. servicing in real estate: how should real estate brokers manage their time?

— Weichert Franchise

Do you spend more time prospecting or servicing existing clients?

Real estate brokers are consistently challenged to strike the balance between prospecting new clients to build a strong lead pipeline and servicing existing clients to create a memorable brand experience. Both aspects of the sales process are crucial to success.

Prospecting is the ongoing process of generating new leads. Leads can come through referrals from past clients, social media connections, advertising, community networking, and even cold outreach. You never know exactly where the next client is coming from so it’s important to have a strategy to consistently find prospects and turn them into customers.

Stellar customer experience can inspire loyalty, retention, and referrals. Every interaction gives you the opportunity to show your clients why choosing to work with you was the right decision. This is why the servicing process is crucial to your career.

You can proactively manage competing priorities with careful time management and strategic planning. Here are some tips to help you strike the perfect balance of prospecting and servicing clients.


Tips for real estate prospecting.

Nurture past clients.

Sometimes, the easiest way to bring in new clients is to stay connected with past clients. Periodically reach out to see how your former clients are doing and share tips or ideas that you think they would appreciate. Keeping in touch shows that you’re committed to your clients for the long-term and makes referrals more likely.

Make prospecting a part of your daily routine.

Block time in your calendar every day to focus on prospecting new clients. 90 minutes a day is recommended. It may be tempting to spend more time focusing on servicing, but a strong commitment to prospecting will help you build and maintain a steady client base and partner network.

One successful technique Weichert uses is organizing frequent prospecting sessions that provide agents with the structure and scripts to connect with potential home sellers through email, phone and text.  They’re excellent moments to connect and foster those client relationships as well as learn from fellow colleagues.

Follow up consistently with leads.

Purchasing real estate is a big decision and timing plays a major role. Prospects are likely to need several touch points before they’re ready to move forward. Be sure to follow up consistently with valuable communications that remind them that you’re available if and when they’re ready.

We’ve recently shared the value CRM tools can bring to your business and how they aid in staying in contact with your clients. Implementing this technology into your daily operations can add some automation to this process letting you focus on other areas of growth while your tech works for you. Our Weichert agents have found that the automated follow-ups through myWeichert powered by kvCORE help manage those touchpoints for them with great efficiency.

Leverage social media.

From organic connections to paid ads, social media is full of opportunities to raise your profile, connect with leads, and generate brand equity. The options are vast, and Weichert offers resources designed to help real estate brokers and agents make the most of social media outreach though content and boost tools.

Build a strong referral network.

We believe that growing and nurturing your referral network is a significant aspect of any successful brokerage. Every referral you make strengthens your network. Reach out to individuals and organizations that offer products and services complementary to yours. If you are part of a franchise, you may have access to a variety of referral networks already built in.

Make time for face-to-face connections.

Make it a point to meet prospects in person. Show that you’re willing to go the extra mile by meeting them in their local community. If you can’t meet in person, schedule a video chat to put a face to the name. Creating personalized connections will help you build stronger relationships and become more memorable.


Tips for real estate servicing.

Be available.

Communication is key in real estate relationships. Make sure you’re responding to requests in a timely manner via your client’s preferred channel. Always take the personal nature of real estate purchasing and selling into consideration when you speak with your clients.

Listen well.

Active listening is a skill. Pay attention as you consult with clients so that you can understand their needs, wants, and dislikes. The most successful real estate brokers learn to anticipate the needs of their clients so they can deliver the best experience possible.

Include personal touches.

Real estate brokers are involved in one of the most personal and monumental purchase decisions their clients will ever make. It’s inevitable that you’re going to get to know some of your clients on a personal level. Make a note of family details or preferences and genuinely mention or incorporate them when you reach out in the future.

At Weichert, we coach agents to use a combination of the latest technology coupled with personal interaction to strike the right balance of attentiveness and personalized service.

Weichert can help.

Real estate agents work hard to build a strong client base and deliver exceptional customer experiences. Maintaining all of the details, from prospecting to servicing, is an ongoing effort that requires extensive resources and operational efficiency. To provide value as a brokerage, it’s critical to be able to offer the tools and training agents need to succeed and scale their business.

The Weichert team and myWeichert powered by kvCORE can help you build and maintain your relationships with prospects and existing customers, we’d love to show you how. Contact Weichert today!

Let's Connect

Are we a good fit?

Let’s talk about it. We promise no pressure, just useful information.