How First-Year Agents Should Approach Prospecting & Marketing

When you begin your career in real estate, you won't have much money, so you want to stay prospecting-based. How do you move onto the next step, though?

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Let's talk prospecting and marketing. If you've been in the business for less than a year, you want to stay prospecting-based. You want to do lead generating activities that will be lighter on your pocketbook—in other words, you don’t want to have to spend any money at all. For example, pick up the phone and call FSBOs and expireds. You can hold open houses or reach out to other agents in your market center and offer to hold an open house for them on the weekends. You should also look into door-knocking, which also doesn't cost a lot of money. As you get into business and start closing some deals, I still want you to stay prospecting-based, but also start some marketing-enhanced items. I want to teach you how to lead with revenue—if you don't have any money, don't spend it. As you close more deals, you'll have an opportunity to inject some marketing.

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As you start to close some deals, you can start a marketing budget.

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With marketing, I want you to stick to a budget. Set a budget and commit to it! Then, you'll be prospecting-based and marketing enhanced. As your business grows, your opportunity to spend more money on marketing grows. Then you can adjust your budget, and remember, stick to it! As your career progresses, you might look into leveraging your prospecting. For example, you could hire an ISA. At the end of the day, lead with revenue, and at the beginning of your career, be prospecting-based. If you have any questions, don't hesitate to give me a call. I look forward to helping you with your career!