Nowadays, most real estate agents rely on videos, blogs, social media, SEO, and other online strategies as the best way to attract, nurture, and engage online leads. However, door knocking in real estate was the traditional system of generating real estate leads.
What Is Door Knocking in Real Estate?
As the name suggests, door knocking in real estate is simply about visiting neighborhoods, knocking on doors, and building relationships with residents in order to generate leads.
Is Door Knocking Effective in Real Estate?
Yes, door knocking in real estate is still a powerful real estate lead generation strategy. Here are some of the benefits of door knocking:
- It is inexpensive – Door knocking in real estate is a lead generation strategy that takes time but requires very little investment. Other marketing strategies such as direct mail, content marketing, and social media cost much more.
- Reinforces your brand – When you engage with prospects face-to-face, they are more likely to remember you than if you sent an email.
- Make the most of your time on the road – As a real estate agent, you will often visit neighborhoods for appointments with buyers or sellers. Knocking on doors while in the neighborhood will help leverage your time on the road.
- You will stand out – Most agents consider door knocking in real estate too old fashioned. If you knock on doors, you will stand out more compared to agents that are just making phone calls or sending emails.
How Real Estate Agents Can Make Door Knocking Valuable
Door knocking is definitely a worthy strategy. However, you cannot just knock on doors without planning ahead of time. Whether you are a veteran or new real estate agent, here are some tips which will make door knocking in real estate effective:
1. Pick a geographic target
Door knocking in real estate should not just be a random activity. You need to figure out in advance which neighborhood you will visit. It would be advisable to target neighborhoods that are not already saturated by other agents. This will minimize competition and enhance your chances of success. You should also target areas where you already have real estate listings. Since you will be spending a lot of time in the area, you might as well make the most of your time by knocking on doors.
2. Do your research
Before hitting the road for door knocking in real estate, be sure to do extensive research about the neighborhood you are about to visit. Start by getting homeowner data using Mashboard, Mashvisor’s AI lead qualification tool. You can narrow down your search for qualified leads using filters such as state, city, property type (condo, single-family home, cabin, triplex, etc.), year built, sales dates, and contact data (emails, phone numbers, addresses). Using predictive analytics, Mashboard will then provide detailed statistics about the homeowner including age, net worth, budget, financing method, wealth score, homeowner or renter, length of residence, and estimated household income.
If you are selling a home, research important details such as price to rent ratio, cap rate, cash on cash return, school districts, home appreciation rates, public transportation routes, and entertainment spots in the area. You want to be able to answer any questions on the spot before knocking on doors and talking to residents.
3. Dress for success
Top real estate agents understand the importance of first impressions. No matter how qualified or experienced you are, people are going to judge you based on your appearance. Before you embark on door knocking in real estate, be sure to dress to impress. However, make sure your apparel is comfortable. For example, wearing a suit and tie in summer wouldn’t make sense.
4. Find out the best day and best time for door knocking
Generally, these are the recommended days and times for door knocking in real estate:
- Weekdays between 8 am and 11:30 am – This is a good time to catch retired people, home workers, and entrepreneurs who are getting ready to start their day.
- Saturdays between 10 am and 5 pm – Saturday is generally a good day to catch people at home. The only exception would be for followers of Seventh Day Adventist (SDA) or Jewish religions. In such cases, a good day to visit would be Sunday.
5. Draft a script and practice it
You must know in advance what to say when door knocking for real estate. This is why you need real estate door knocking scripts. However, be sure to customize real estate scripts according to your personality, offerings, and market. Here are some examples of real estate door knocking scripts:
- Just listed script – “Hello. I’m Mike Woods from XYZ Realty. We have just put a house on Sesame Street up for sale. Would you know a family member, friend, or acquaintance looking to buy a home now or in the near future?”
- For Sale by Owner (FSBO) script – “Hello. I’m Mike Woods from XYZ Realty. I noticed that you have just listed your home for sale. If I connected you with a ready buyer, would you be open to paying me a 3% commission?”
- Sold or sale pending script – “Hello. I’m Mike Woods from XYZ Realty. We have just sold your neighbor’s house on 16 Electric Avenue. The sale generated a lot of interest, showing that there are many people looking for property in this neighborhood. I just dropped by to find out if you might be planning to sell your home in the near future?”
6. Leave gifts, doorknob hangers or fliers if nobody’s home
If you knock on a door and nobody’s home, use this as an opportunity to share some information. Whenever you go out for a door knocking campaign, be sure to carry doorknob hangers, postcards, business cards, flyers, or small gifts to leave behind. Such real estate door knocking handouts will give the residents a way of contacting you in case they are interested.
7. Track your progress
Whenever you go out knocking on doors, be sure to keep track of your progress. How many doors did you knock on? How many people showed interest? How many doors were not answered? Carry a notepad and jot down all these details or use your Notes App. You might need to visit some homes again or follow-up via phone call or email.
Conclusion
Door knocking in real estate is not for the faint-hearted. You will encounter some rude prospects and even have some doors slammed in your face. This means that you will need to grow a thick skin to handle rejection. The more you keep knocking on doors, the better you’ll get at it, and the higher your chances of getting deals.
To learn more about how Mashvisor can help you boost your real estate agent career, schedule a demo.