Mastering Prospecting: 20 Lead Generation Tips for Real Estate Agents

In real estate, prospecting is the name of the game. But let's face it, sometimes agents make it harder than it needs to be. You may think you need the perfect social media profile or the ultimate door-knocking script to succeed, but that's not the case. 

There’s nothing special about an elite agents' dialogue. It’s their mindset. If you think you are worthy of 10 sales, 
you’ll decide to do something to get there. From there it's about persistence, cleverness and refining your technique.

In this article, we'll share 20 killer lead generation tips (plus some handy scripts) to take your prospecting game to the next level. Whether you're a seasoned pro or a newbie to the game, there’s bound to be a golden nugget or two that will help supercharge your prospecting efforts! 

1. Old buyers in your database

So one person in your office called them before and got crickets. Don’t just give up on them. Reach out with a script like: “When we last spoke I can see you were interested in XYZ property, just checking in to see how things are progressing... I’m curious to see what made you enquire on that property, where are you currently located?” 

What you’re trying to do is build up a flock of hot buyers. When you door-knock a property and have hot buyers under your wings, you can have a stronger opener… 

“I’ve got someone that wants to buy your house, would you be open to me introducing that buyer to you?” 

This is a much more effective approach than simply asking: “Would you like a free appraisal?”

2. Underbidders
Buyers who recently missed out on a property are a powerful source of new leads. They have brought themselves to the broil and you know they are in real estate mode. 

So ring them and say, "Tell me what properties you’ve looked at, tell me what you’re interested in and I’ll go door-knock that area for you.” 

Then you can go into your next seller conversation armed with this script: 

“I have a buyer who recently missed out on [Insert specific property address] who is desperately looking to buy in this area. Would you be open to selling in this market? 

Of the ones you speak to 4 or 5 will say "No thanks”, and 1 or 2 will say “It depends, how much are they willing to pay?”. These are the ones you are looking for – flush out the maybes!  

3. Mortgage brokers & buyers advocates

Buyers advocates get paid a fee upfront, so they have pressure to match buyers with properties. 

If you're that person who is ringing them every week, when they do find someone you're going to be first in line because you're servicing them well. 

With mortgage brokers, you can’t expect them to throw leads at you. Build relationships, take them out for lunch. Ask them, "How many people have you pre-approved in the last month? Are any of them going to sell their home? Would you mind passing my details on?”

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4. Sold signboards
When a signboard goes up, often the next listing that comes on the market is from an opposing agency. Why?  The person that’s putting their property on the market next, often doesn’t want to compete with same brand. This is where your opportunity lies. Letterbox drop that street where the property sold.

Let that street know you have a buyer that you tried to bring through that property. If they are thinking of coming on the market, to give you a call.

5. Facebook campaigns for downsizing market
Create a closed Facebook Group. Market to anyone that wants to know of any off-market sales that sell above $1m, direct them to join your closed group. Post all your relevant sales there.

Then you can go to potential sellers saying “I've got XXX buyers on top of my existing database” 

6. Old REA Enquiries

Go through them and re-qualify them – where are they located now, are they happy with their current situation or considering a move?  

7. Landlords, referees & tenants

Ask for the landlords place of residence – have you done an appraisal on that one?  For referees and tenants – ask them about any investment properties. 

8. Potential vendors that want to buy first

Scout the internet for properties for that vendor to buy. You're offering them elite service and helping to move them along to the next phase. Guess who will be front of mind when they are ready to sell?

9. Leverage ObserversObserver-Icon-Website-Graphic
One of the tools available in the Openn platform is the observer feature. With one click, you can invite potential sellers and other interested parties via SMS, QR code or email to watch your campaign as it unfolds, in real-time.  

By welcoming as many people as possible to view your campaign, the benefits are two-fold. Participating buyers see the high interest levels and are more compelled to take the property off the market.  

More importantly, you demonstrate your skill and expertise to vendors you are actively prospecting, opening the door to your next listing.  

With this digital formula in place, you effectively package your prospecting and selling into one, fail-proof system.  

10. Don’t waste the moment you sign up a vendor
When a vendor passes the signed agency agreement across - look them in the eye and say this: 

"My commitment to you is to get you the highest price, but I'm also going to be creating a great service experience. Both go hand in hand. Can I ask if I deliver on both, and only if I deliver on both, that if you hear of any family or friends thinking about selling, you pass my details on?” 

9 times out of 10, you'll get a referral. 

11. Book an annual market update

Don’t neglect your buyers – real estate is a long game. On settlement day of the property you've just sold, ring the buyer to congratulate them and say: 

“The market changes weekly, monthly, biannually and annually.  How about we set a time for me to pop over in 12 months and give you a market update?” 

Book it into the calendar then and there.


12. Ask this question on settlement day
When the property is settled and you’re handing over the keys, you have an opportunity in that moment to ask them: 

"Have you heard of anyone else looking to sell? When you were packing up your house, did you have anyone come up to you and ask what did you sell it for?” 

By asking the right questions, you could find your next hot lead. 

13. For rent by owner / Domain /Air BnB / Stayz / Gum Tree

Find vacant properties that have been on the market for a while and ring up them up:  

“I’ve got someone that potentially wants to buy your property, I know you’ve been on the market for a while. I’ve googled the street, I know it’s for rent, but would you consider selling it, particularly if it was going to be above market value? Would that interest you or should I sell them something else? 

That closing line is gold –  it’s a great way to extract a definitive answer, as it’s a yes or no question. It also inspires a feeling of urgency, that they may miss out. 

14. Expired listings -
This site scrapes withdrawn listing information from Domain and REA. It effectively provides a hit-list of sellers to reach out to who may have been unhappy with their previous sales campaign and be open to fresh attempt. 

Everything selling in your area right now? Well, what about 5 years ago? Go and find the listings that had a shot at it, that you can then revisit with a conversation opener like: 

“I noticed 5 years ago that you tried to sell it for $450k, I can see you dropped it $420k. Can I say right now in this market, you’re looking at north of $850k. What prompted the interest to sell it 4 years ago?” 

15. Development applications

Developers are a powerful source of information – they often know everything that's coming onto the market in an area. So it pays to stay close to them.

If you know of any development applications happening, ring the developer and ask: 

"Would you like me to do a feasibility on your plans, let you know how much your apartments are worth? By the way we can also do a rental appraisal for you as well. When it's approved, do you want me to come and revisit it?” 

16. RP Data $0 transfers

Anything that is a $0 transfer, indicates it could be an inherited, divorce or deceased estate. This means there is a high chance they may be open to selling the property soon. Remember to be mindful of their circumstances and delicate in your approach. 

17. Past appraisal/past clients (purchasers)

 Every time you list a property, go to all your past appraisals and purchasers within the same price bracket, within a 3km radius of the property. Let them know of the listing, invite them to an open home and after the property sells, tell them the result. You’re effectively priming them by giving up a bit of your listing presentation. 

18. Database of everyone who bought in last 5 years

Target those who are due to come back into the property cycle. It’s a much easier prospecting strategy when prices are going up, however even in a down market people are curious to understand how much the value of their property has shifted. 

19. Mortgagee in possession

An obvious one, but consistently reach out to brokers and find out what you need to do to get on the panels.

20. Be the gift that keeps on giving 

Don’t neglect your past clients, they are a valuable source of future business.  After the sale, every 2 months send them a free gift: 

  • 1 hour handyman voucher 
  • Organise a gardener 
  • Meat pack from local butcher 
  • Hairdressing salon voucher 
  • Organise a window cleaner 
  • Voucher to local restaurant 

Tip: These gifts don't have to cost you a cent! Service providers will often happily provide the vouchers as a way to increase their own business 

At Openn we're passionate about helping agents sell more property, in less time, for better results. Find out more about our transparent online sales platform here or book a FREE demo below.

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