The Difference between Prospecting and Nurturing: Josh Pyatt

How many times have you spoken to someone for the first time, whether it was in person or on the phone, and that person has committed to you to sell their property there and then? Probably not many, if ever, right? Real estate coach Josh Pyatt explains the key differences between prospecting and nurturing customers.

I see a lot of agents phone prospect and door knock in the hope to find an immediate seller. The reality is, unfortunately, is that it just doesn’t work like that. As we all know, prospecting is the backbone of our business. Without it, we get nowhere. But it’s how we do it that will separate the good agents from the great agents.

Considering it’s rare to get new business from speaking to someone just once or twice, I want you to think about this strategy. We prospect to get data. We then nurture that data to get listings. So next time you speak with someone, qualify them and their situation properly. You wouldn’t be doing your job if you didn’t. Just don’t hold your breath in the hope that they’re going to give you their business on the spot. Rather, obtain as much data and information about them as you can, put them into your database, and start nurturing them through the pipeline up until they become a buyer or seller.

It’s important the data you obtain is clean, so you can nurture and build a relationship accordingly. You should always strive to obtain 4 crucial pieces of information from everyone you speak to:

– Full Name:

– Mobile Number:

– Home Address (if owner):

– Email Address:

To help you get your head around this strategy a little more, here are my definitions and differences between prospecting and nurturing.

Prospecting: Looking for new business. Seeking a potential customer. Direct conversation with a customer.

Nurturing: The process of servicing that customer with relevant information over a period of time. Developing a relationship. Progress a customer through the pipeline rather than harass them. Continual contact until that customer becomes ready to buy or sell.

So let’s start to prospect with a purpose. And that purpose is to get data and kick start a relationship. Then nurture that relationship by the way of providing each customer with information that is of benefit to them.

I want you to have 3 goals in mind for every single person that you speak to.

1st Goal: Obtain their data to enter in your database so you can nurture that person moving forward.

2nd Goal: Qualify them and their situation.

3rd Goal: Look for immediate sellers.

If you utilise this strategy rather than just look for the immediate, you’re going to win far more business!


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Josh Pyatt

Josh Pyatt is a Projects and Development Specialist at McGrath Estate Agents.