Mistakes to Avoid with Your Hot Prospects

In the midst of your prospecting phone calls, marketing efforts, and referral seeking, what you're really hoping for is to connect with more motivated buyers and sellers, or what we call hot prospects. While it's good to be aware of what you're seeking, are you guilty of these common mistakes that many REALTORS® make when it comes to their best real estate leads?

All real estate agents know that curious neighbors will wander through open houses, and some people will request home appraisals without a real intention of selling. While you're trying to build relationships and gain contacts, what you're really after is serious prospects who are ready to make a move.

Here are four mistakes you should avoid with your real estate hot prospects:

1. Not identifying hot prospects accurately.

It can be easy to get excited about a new lead and set your heart on making them a client. But try to remember that you should be using some criteria to qualify who is a serious prospect and who is not. That way you can decide how to best allocate your time.

Genuine hot prospects are those people who have clearly indicated to you that they will likely buy or sell a home (or both) within the next six months and have a clear reason for doing so. They've expressed that they'd like to work with you specifically and not another Realtor. And they know some details about when, where, or why they want to buy or sell, and they know their price range.

So next time you get a new prospect, make sure you qualify them properly. You want to make sure you spend your time wisely when dealing with new leads.