What’s the difference between a lead and a prospect? A prospect is a potential lead. They need your service, but they haven’t specifically picked you. While pursuing prospects is a worthy investment of your time, what you really want are leads. That’s when you have the name and contact information for someone who is a potential future client.
The single biggest difference between prospects and leads is their engagement. Prospects need to be identified and cultivated. They are a distinct investment in your time and efforts, and with the right amount of outreach from you demonstrating your talents and abilities, they will likely contact you when the time is right for them.
Leads, on the other hand, are characterized by two-way communication. A lead has already responded to your marketing efforts, and they’ve reached out to provide you with their contact info – either through a call or online form. If you can contact them, then they’re a lead.
Identifying prospects, nurturing leads and converting them into clients is a big part of a real estate professional’s day – generating real estate leads. One of the biggest mistakes made is not regularly following up with their prospects and leads.
Here are five suggestions for bringing in more leads:
- Don’t wait for leads to fall into your lap. While you want your marketing to bring in leads, don’t wait for it to happen. Schedule time each day to generate new leads.
- Use social media networks to connect to prospects and leads – this way, if you don’t land a lead now, you have established a connection to keep marketing to them.
- Reach out to for sale by owner (FSBO) properties to discuss the benefits of hiring a real estate professional. You already know they want to sell, they just haven’t realized you’re the best person to make the sale happen.
- Real estate postcards are expensive, but you can set up a digital postcard campaign to save on paper and stamps! It’s an effective way to stay-in-touch with clients and encourage leads. This throwback technique with a digital twist could pay big dividends for your business.
- Use your hobbies to tap into more real estate leads. Have fun while you generate leads. Use your common interests to meet potential clients. This could even mean participating in social groups on Facebook.
Miriam-Webster defines a prospect as “something that can develop or become actual.” To turn possibilities into a sure thing, you need to have access to the best and most current real estate information possible.
With GeoWarehouse, you can access a variety of reports and information that will give you the edge when generating real estate leads. Become the expert by subscribing to GeoWarehouse today!
Visit www.geowarehouse.ca to learn more about this valuable real estate tool.