Looking for Feedback on My Circle Prospecting Strategy —Any Tips or Agents You Follow

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Looking for Feedback on My Circle Prospecting Strategy —Any Tips or Agents You Follow

Mark Towey
Real Estate Agent · Wichita, KS · Member since 2023 · 34 posts · 11 votes

Hey everyone — I’m 25 and coming up on 2 years licensed this June. To be fully transparent, I haven’t been as successful or busy as I expected in my first couple of years — I had 5 closings last year and just 1 so far this year. That said, I’m committed to building this the right way and staying in it for the long haul.

One of the main strategies I’ve started doubling down on is circle prospecting. My current approach is pretty simple:

After someone in my company closes a home, I pull the surrounding homeowners and give them a call. I let them know the home just sold nearby, then I ask:
“Is there anything in the world I can do for you today?”
If they say no, I follow up with:
“If or when you decide to make a move or buy, do you already have an agent you’d work with?”
If they don’t, I ask if it’s okay to stay in touch.

It feels genuine to me and doesn’t come off too salesy — I’m just trying to build relationships and grow long term.

So I wanted to ask:

  • Have any of you had success with circle prospecting?

  • What tweaks or follow-up systems have worked for you?

  • Are there any agents or coaches you follow who consistently share good advice or ideas around this?

Appreciate any feedback — just trying to keep sharpening my tools and surround myself (even digitally) with people who are doing the work.

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  • Bruce Lynn
    Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
    1y

    Since you are not that busy right now, also call before the sale, once it goes under contract, and again after it sells.  Also door knock the neighborhood.

    Just something to think about, is how could you call people more likely or most likely to sell vs random circle prospecting?  Could you call probates, divorces, post bankruptcy, pre-foreclosure, parents of high school seniors, or someone else with a higher propensity to sell vs random people who may or may not be thinking of selling.  I live in an older neighborhood with very few listings.  If you call my neighborhood, I think mostly you are wasting time or looking for that needle.  Maybe in another 20 years, you'll do well calling my neighborhood when everyone is within 2-5 years of selling.

    I would also consider some in person selling.  Have you met or visited in person every business/business owner in a five mile radius?  You're young and hungry.  While I'm not a fan of open houses, you should do 4 open houses a weekend for your brokerage.  10-12 on Saturday 2-4pm on Saturday, Sunday 12n-2pm and 4-6pm.  Consider another during the week 4-6pm to catch people coming from from work.  It's a lot more than just doing the open houses....your out getting to know inventory, you're making a name in your brokerage, you're making inroads with neighbors, your name is on 40 signs a weekend, you see different neighborhoods and which homes are vacant, who's moving, which ones are rented, who the investors are, etc.

    Instead of asking the about what can I do, and do you have an agent, ask them questions that potentially get you business TODAY. Any vacant homes in your neighborhood? Any problem homes? Any ugly homes? Any PODs set up in the neighborhood? Know anyone moving in your neighborhood? Any FSBO in your neighborhood? I think most people are much more willing to talk about the neighbors than they are willing to talk about themselves.

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    • Mark Towey
      OP
      Real Estate Agent · Wichita, KS · Member since 2023 · 34 posts · 11 votes
      1y

      @Bruce Lynn Bruce, I first want to say thank you for responding to my post. This is all very good advice and as a young and still currently inexperienced agent I can definitely work to put some of these things into practice. Just a couple questions I got for you based off your response. 
      1. what do you men's PODs set up in the neighborhood?

      2. When you first started out as a realtor, woukd you do a lot of cold calling or would you say more of your business came from your sphere of influence?

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