Circle prospecting is one of the best ways to pack your pipeline without dealing with angry homeowners. Whether you’re prospecting a hot neighborhood, running an email campaign, or marketing a property you just listed, there are a lot of different strategies to circle prospect for listings.
1. Start with the Right Tools
No matter which approach you take, you won’t get far without the right tools. In order to maximize your success with circle prospecting, equip yourself with quality data, a powerful dialer, solid scripts, and a killer CRM:
Quality Data from GeoLeads™
Drop a pin, draw a boundary, and get contact information for entire neighborhoods. Quality data allows you to target any area to circle prospect effectively.
Save Time with a Power Dialer
A powerful dialer will allow you to call entire neighborhoods in less time compared to dialing by hand – perfect for efficient circle prospecting.
Solid Scripts (Don’t forget to practice!)
No two conversations are alike, so practice your scripts every day and adapt them to different styles of conversation. Click below to download some of the top script resources from leading industry coaches and experts – including some amazing Circle Prospecting scripts!
Stay Organized with a CRM
The more you circle prospect, the more you’ll need to stay organized. CRMs like Crmgrow, LionDesk and Follow Up Boss will help you organize, manage, and stay in touch with all your best leads and contacts.
2. Find Inventory & Build Your Database
You’ve got your tools… now it’s time to get to work! Whether you’re looking for listings now or packing your pipeline for the future, this script strategy gets right to the point:
Start off strong by asking if they want to sell, then offer to add them to your monthly market report and confirm their contact information. Add their verified info to your CRM and consistently follow up so you’re the first agent who comes to mind when your database needs help.
3. Land & Expand in “Hot” Markets
While you search for inventory and build your database, keep an eye out for opportunities to circle prospect in “hot” markets.
Search for neighborhoods with a high turnover rate or a higher average price point, then use GeoLeads™ to find contact information for homes in the area. Call the closest 100-250 neighbors following this script:
This “hot market” script creates an extra sense of urgency to help you land a new listing sooner. You’ll also get a feeling for how “hot” the neighborhood actually is based on how interested people are in your conversations.
4. From Just Listed to Just Sold
Circle prospecting is an amazing way to find and take new listings, but it’s also a great way to boost local attention and interest in your current listings. (After all, isn’t that what sellers pay you for?) So whenever you take a new listing, drop a pin on the property and call the closest 250 neighbors to the property using this “Just Listed” script:
Then, after you (or another agent) closes a sale in the area, gather some quick facts on why the home sold, and circle prospect the neighborhood with this script:
You can also adapt or adjust this script to offer a quick home valuation, add people to your monthly market report list, or spread the word about an upcoming open house. This not only works to help sell your current listings, but will boost your reputation as the neighborhood agent who works hard to meet your client’s needs.
5. Permission to Text
As you build your database and boost your listings… consider this statistic: 7/10 people prefer texting over talking, and 50% of sales are made after the fifth follow up. Pretty powerful information… as long as you follow the rules.
Remember: always get permission to message someone before you ever send them a text. Failure to do so could get you in trouble with the TCPA.
The good news is, getting permission is easy! While you collect and verify a new contact’s information over the phone, incorporate one of these scripts into your conversation:
With permission to text, you’ll increase your contact rates, have better conversations, and take more listings with frequent follow-up.
6. Be the Neighborhood Expert
At the end of the day, potential buyers and sellers care the most about these three questions:
- What’s for sale?
- How much is my home worth?
- How’s the market?
So no matter which circle prospecting strategies you use in your business, equip yourself with accurate market data to position yourself as the local expert who people can trust.
Include accurate, localized data in your monthly market reports, follow-up texts, and Facebook ads so your leads and prospects can make an educated decision about their next sale or purchase.
It’s Time to Stand Out!
Circle prospecting allows you to put yourself out there so you’re the first agent homeowners think of when they want to buy or sell a home. So as you ramp up your strategy with the tips & scripts you’ve just read, remember that relationships, rapport, and repetition will unlock the science to success for circle prospecting.
About REDX
REDX is an all-in-one lead data and prospecting platform that helps agents connect with qualified buyers and sellers. The platform includes seller leads, a dialer with up to three lines, social media tools, and a lead management system that simplifies first contact and follow up.
Click here to watch a demo, or call (800) 731-7339 ext. 1 to learn more about Expireds, FSBOs, GeoLeads, FRBOs, Pre Foreclosures, our Power Dialer and Social Media Tools for paid ads and content creation.
REDX maintains the position that all agents should be compliant with state and federal telecom laws – learn more here.
