Circle Prospecting: 6 Tips & Scripts to Lock in More Listings
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.
Here are 6 tips & scripts to land more listings by circle prospecting:
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 REDX 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. Download Tristan Ahumada’s favorite scripts for circle prospecting, door-knocking, open houses, and much more at the bottom of this article.
- Stay Organized with a CRM. The more you circle prospect, the more you’ll need to stay organized. CRMs like 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:
- Use a power dialer and GeoLeads to call targeted neighborhoods
- Ask homeowners if they, or any neighbors, are thinking about moving in the next 12 months
- Offer to include homeowners on your monthly market report update (collect their email address)
- Stay top of mind with monthly follow-up (email reports, postcards, texts, calls, and video messages.
Circle Prospecting Phone Script:
Agent: “Hey this is [your name] with [your brokerage]. I’m just making some quick calls through your neighborhood. I’m sure you’re aware how hot the market is, and right now we’re struggling to help homebuyers find good properties. So I’m curious, have you thought about making a move in the next 12 months and selling your home?…”
Agent: “…No? Well thanks for your time. Do you know if any of your neighbors are thinking about making a move?…”
“…Hey, I really appreciate your time. We send out a monthly real estate market report to keep you current on what’s happening with real estate sales and trends in your market. Your neighbors love it, would you like me to include you on that list?”
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.
Get Real Estate Leads through Geofarming and Circle Prospecting
Tyler Fenn explains how to use GeoLeads to target any neighborhood and seek out properties that are for sale. With the Vortex Dashboard, circle prospecting is made easy.
- All of your leads in one place
- Import leads from other CRMs
- Manage your leads from your dashboard
Frequently Asked Questions
1. What is circle prospecting?
Real estate circle prospecting entails calling people in a specific geographic area and asking if they are thinking of moving or know someone who is thinking of moving.
2. Is circle prospecting effective?
Absolutely. It enables you to establish genuine rapport with a potential client while also strengthening your personal brand. The key to circle prospecting success is having a strategy in place, using the right tools, and using effective scripts.
3. What do you say when circle prospecting?
Tell the person you are calling your name and which brokerage you are calling from. Ask them if they, or someone they know is planning to move within the next 12 months. Offer them your monthly market update and collect their contact information so that you can add them to your CRM.
REDX offers real estate professionals a complete all-in-one prospecting platform for generating listing appointments. The platform includes seller leads, a power dialer, and a lead management tool that makes follow up simple.
Get Started With REDX – No Startup Fee
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