Pros And Cons Of Knocking On Doors To Get New Business
One of the ways that real estate agents can potentially get new business is by targeting a certain community, knocking on doors to speak to homeowners, and handing out promotional material. Doing so gives you a chance to speak to people who may be thinking about selling their homes, and if you can impress them with your personality and some marketing literature, you may be able to represent them. There are some pros and cons about taking this approach to getting new business, including the following.
Pro: It Doesn't Cost Much
Some marketing ideas for real estate agents can be costly. For example, you might decide to put up billboards or buy advertising space on city buses. While these ideas can get a lot of people looking at your information, you can also expect to pay a considerable amount of money in doing so. Knocking on doors doesn't have a cost associated with it, and the only money that you'll be spending is to print some brochures or handouts that you can take with you.
Con: It Can Be Emotionally Tiring
Even if you're a people person, speaking to strangers isn't the easiest thing to do. Even though you may get some people signing up for you to sell their homes for them, you'll also get a lot of people saying that they're not interested. This can be a bit discouraging, especially if you get some homeowners who are on the ruder side. The emotional exhaustion that you experience can be worse if you get a lot of rejection before someone is interested.
Pro: It's A Legitimate Chance To Impress
When people see a real estate agent's face and contact information on a sign, they don't get a sense of what the person is about. When you speak to someone at his or her front door, however, you have a real chance to impress the person with your personality, knowledge, and approach to the real estate market. For example, you might show yourself to be soft spoken and quick to cite relevant market statistics, which could appeal to lots of homeowners.
Con: It's Time Consuming
Knocking on doors can be an effective marketing strategy for new agents who aren't yet very busy. However, if you've build your business to the point that you have a steady flow of clients, it may be difficult to make time for knocking on doors. This is a time-consuming process. For example, if you end up talking for a few minutes to even half of the homeowners in a given neighborhood, it may take you several hours to get through an area.