Introduction: What Is Prospecting?
Good morning, this is Don Dunbar.
Today, we’re going to talk about prospecting—identifying and reaching out to potential clients to generate new business.
One thing I know for sure: prospecting works. But it only works if you do it consistently. You can’t do it for a short period of time and expect great results.
Consistency Is Everything
Prospecting can feel mundane at times. Some days, you may spend hours doing it.
I’ve heard some people say they make about 25 calls a day. Personally, I aim for at least 100 calls a day, five days a week—that’s 500 calls per week. That typically leads to a couple of appointments for me each week.
Now, I’m not saying your results will look exactly the same—it depends on your market. But the key is this:
Consistency over time produces results.
Why Prospecting Matters
Many real estate agents don’t enjoy cold calling. I understand that. But I can tell you from experience:
- Calling your sphere of influence (SOI)
- Calling your farm area
- Reaching out to new clients
- Contacting foreclosure opportunities
Doing these things daily—and setting aside dedicated time—is one of the most important parts of this business.
Yes, you can rely on past clients, but that alone isn’t enough. You have to continually generate new business.
Overcoming Rejection
A lot of agents avoid prospecting because they don’t like rejection.
But let me ask you this:
- If you never do it, how do you know it doesn’t work?
- If you only try it for a short time, how can you judge the results?
Prospecting does work—if you stick with it.
Set a Schedule and Stick to It
You need to prospect at the same time every day.
For example, I prospect from 2:00 PM to 6:00 PM, five days a week. Sometimes I’ll add a couple of hours on Saturday, depending on the opportunities available.
Having a consistent schedule builds discipline—and discipline drives results.
Door Knocking: A Simple, Effective Strategy
Door knocking is another powerful form of prospecting.
Keep it simple:
- Choose a neighborhood
- Go out during good weather
- Bring flyers or door hangers
- Introduce yourself
Don’t overcomplicate it. A simple message works.
When I’ve door knocked in the Bay Area, I’ve consistently generated business. I typically spend 1.5 to 2 hours, often combining it with exercise.
Networking the Right Way
Another way to prospect is through networking events.
But here’s the key:
Don’t just attend events full of other Realtors.
Instead, go where:
- There are fewer agents
- You can meet actual buyers and sellers
- You can build real relationships
This business is about relationship building.
Also consider:
- Joining local organizations
- Getting involved in your community
Just be careful not to overcommit. You don’t need to do everything—focus on what works.
Why Cold Calling Still Wins
For me, cold calling produces the best results.
It’s:
- Cost-effective
- Flexible (you can do it from anywhere)
- Scalable
I now use tools like PropertyRadar and dialers to speed things up—but I didn’t start that way.
In the beginning, I:
- Used MLS to find neighborhoods
- Looked up numbers manually
- Made calls one by one
It was slower, but it worked—and it didn’t cost much.
This business often starts as “champagne taste on a beer budget.”
Mindset: Focus on Stability, Not Hype
A lot of agents come in thinking:
“I’m going to make a million dollars.”
Instead, focus on:
- Building steady income
- Supporting yourself and your family
- Reducing financial stress
That’s what matters most.
Creative Prospecting Ideas
Here are a few additional strategies that work:
1. Walk Your Farm (With a Twist)
I’ll walk neighborhoods—sometimes with my dog. Dogs naturally start conversations and help break the ice.
2. Open Houses
You can hold open houses—even for listings outside your brokerage (with permission).
What I do:
- Deliver 25–50 flyers to nearby homes
- Sometimes call the neighborhood to invite them
This method has been very effective.
Be Patient: Results Take Time
One of the biggest mistakes new agents make is expecting quick results.
You can’t plant a seed today and expect it to grow tomorrow.
I’ve had agents tell me:
“I’ve been doing this for 30 days and nothing’s happening.”
My answer:
Keep going. It will happen.
This isn’t about the company—it’s about your effort and consistency.
Final Thoughts: Stay Active
Real estate is an active business.
If you’re not:
- Calling
- Door knocking
- Networking
Then you’re not going to generate the income you want.
If you don’t like cold calling—do it until you do.
If you don’t like door knocking—do it until you do.
These are the fundamentals of the business.
Closing
For over 33 years, I’ve never bought a lead. I’ve always generated my own business through simple, consistent actions.
It wasn’t easy. It was discouraging at times. But I stayed patient and kept going—and it worked.
If you have any questions or want help getting started, feel free to reach out: dondunbar322@gmail.com
I’d be happy to show you how to set things up and generate leads without spending a lot of money.
Have a wonderful day. I hope you found this helpful, and I’ll talk to you soon.
