Grouping Prospects for Successful Real Estate Prospect Management

Target your marketing at lower cost with proper prospect categorization.

One of the most important tools in building your real estate practice is your prospect list and the system you use to manage it. As prospects enter your funnel, it is important to properly categorize them by type or property interest. This allows you to contact them with marketing that is targeted at their specific interests. You can't be too detailed in this respect. You can always add small target groups together for marketing with a wider focus.

It can be easier to think of the types of marketing pieces and methods you use and work backward to come up with these prospect types. However you do it, the sooner you properly categorize your prospect base the better. Here are some of the most popular types:

• Buyer (or Local Buyer & Distant Buyer)
• Seller
• Investor
• Residential Buyer (Seller, Condo, Comcl, etc.)
• Other

Once you've categorized your prospects, pulling a list for very targeted marketing is easy. You can create more impact in your marketing if it's more closely focused on the interests of the prospect. You will also reduce the cost of sending marginal marketing to prospects with little interest..

Part of the Contact Management Training Series - The Whole Series:

• The Importance of a Good System
• Contacts and Prospects - The Difference
• Don't Use The MLS Solution
• Protecting Your Contact Data is Critical
• Using a Prospect Type Field for Efficiency
• Sourcing Prospects for Profit
• Using a Status Field to Help with Marketing