One of our recent blogs provided tips on dealing with failure. Our blog asserted that at some point, everyone fails. How a real estate agent deals with failure is one of the things that makes real estate agent winners and real estate agent losers.
Another thing that separates real estate agent winners from real estate agent losers is hard work. Part of working hard means searching for potential clients. Why is searching for potential clients so important?
Why Searching for Potential Clients is So Important
As a real estate agent, you should always look to continually build your client base. That doesn’t mean you take on every client. It means you search for clients. Searching for clients is incredibly important. Here are a few reasons why.
Competition is everywhere
Home and Rentals, a source for homes for sale and rent in the State of Texas, says that there are 79,144 real estate agents in Texas. Texas is a huge state. But, Texas also has massive city centers like Houston, Dallas, and San Antonio where most of those 79,000+ real estate agents reside.
Unless you reside in a place where real estate agent competition is scarce, you must fight your competition for real estate agent clients. That doesn’t mean you don’t find your niche in the real estate industry. It just means you go back to what we wrote above, the real estate agents that work the hardest to find potential clients, well, get the actual clients.
Your current clients could dry up
Maybe for the past 6 years, you’ve had great luck. That nice couple Tom and Jane have purchased homes from you every couple of years. That’s 3 residences you’ve sold Tom and Jane since when you first met them.
But, just this morning, you got the dreaded dry up call. Tom and Jane have decided that the last home you sold them is the one they’re going to live in forever. From Tom’s own mouth, albeit much kinder, you will never sell Jane and he another home.
Clients dry up all the time in every industry. The real estate agent industry is no different. One couple deciding never to buy another house from you again might not be a big deal. What if more than one of your clients does that?
It’s only a matter of time before it hits the amount of money you make as a real estate agent.
Market downturns are a reality
Notice we wrote potential clients and not actual clients? The word potential means that you believe there’s potential for the person or couple you’ve just met or searched for could one day become a client.
The more potentials you put into your real estate agent client pipeline, the better position you’ll be in when the real estate market turns south. It’s bound to happen. Make sure you’ve got enough potential clients in the pipeline that you can immediately contact once a market downturn hits.
Always searching for potential clients is important. Once you’ve found a potential client, keep in contact with that person. A long list of potential clients is the perfect antidote in real estate market downturns. Potential clients also help you stay ahead of your real estate agent competition as well as help you when current clients dry up.
Always search for potential clients. It will make you a real estate agent winner.