Effective Prospecting Techniques with Tom Panos

In this episode of We Are Selling, Lee Woodward sits down with industry legend Tom Panos to uncover the top five prospecting methods that are making a real difference for agents in the field.

👉 Prospecting is the lifeblood of real estate – without lead generation, there’s no growth. Lee and Tom share proven, practical strategies that top-performing agents are using right now to consistently secure new business.

What you’ll learn in this episode:

1. Client Re-engagement – Why staying in touch matters more than ever.
2. Advocate Referrals – Turning past clients into your biggest champions.
3. Buyer-Seller Strategy – How every buyer could also be your next listing.
4. Professional Advocates – Building referral pipelines with lawyers, builders, and community influencers.
5. Hook & Send Marketing – Using creative “ethical bribes” and lead magnets to spark engagement.

💡 Whether you’re new to real estate or already performing at a high level, these five approaches can help you strengthen your pipeline and build a referral-based business that lasts.

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Tom Panos is one of Australia’s most recognised real estate coaches, speakers, and media personalities. With decades of experience, Tom brings sharp insights and real-world advice that cut through the noise.

This podcast is brought to you by Realtair– the home of Pitch, Sign, and Sell, the all-in-one real estate platform. Call 1300 367 412 to bring your career together with Realtair.

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Hosted by Lee Woodward Training Systems

Brought to you by The Complete Salesperson Course & Super Coaching Program

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Transcript

Lee Woodward: 0:01

Hello and welcome to another edition of We Are Selling, our short, sharp podcast, where we discuss one critical factor that can have impact on your career. And today's topic is what are the top five prospecting methods that are actually working for people in the field? And joining me is an absolute legend of our industry, Mr. Tom Panos. Tom, welcome to the podcast.

Tom Panos: 0:27

Lee, absolute pleasure to be joining you, and absolute pleasure to be talking to you about that subject because I've got to tell you, the death of a real estate agent is the death of lead generation. It is the most important topic for a real estate agent in 2022.

Lee Woodward: 0:41

Couldn't agree more. And if you look at our position description as an agent, really all we do is drive opportunity. But the question is, we've so much to do, where do you have your focus? And Tom, from doing some research of the agents out there that are doing well, doing well means they are consistently producing business. It doesn't mean they're a five million dollar performer at this point, but our conversation is are you getting five to eight appraisals a week? And if so, how are you doing it? One of the first things that came up, so strategy number one that's working out there in the marketplace, which was actually the most neglected at the same time, was client re-engagement. Those agents that had an established client program, space throughout the year with digital connection, were definitely getting better referral and results with that love the one you with campaign coming back to them than those that said, Oh, well, I sold it a year ago, I've had nothing to do with it. Tom, what's your thoughts?

Tom Panos: 1:41

It's one of those things that often real estate agents can fall into the trap of knowing that it's so important, but for whatever reason, they just get off track in a stay in touch strategy with a client. And I'm gonna say, Lee, if that has happened to anyone that's listening in at the moment, I think that, and this happens to me sometimes. I you know, I think to myself, I should have stayed in contact with that client. Lee, let me give your listeners a big tip. Use this opening sentence. Hey, Mr. Klein, it's Tom Panos. Firstly, I want to apologize. I should have been in touch earlier. People love a sorry, Lee, right? It gets you back in that conversation with them. And I think it's super, super critical. And you know, you work with some of the greatest real estate agents in Australia and New Zealand, and you know, Lee, that the ones that are doing the hundred sales a year, the ones that are writing the big GCI numbers, they seem to have this business based on raving fans that they've had interactions with them in the past. So it doesn't surprise me that your research comes up as that being as one of the five.

Lee Woodward: 2:47

I love that saying. Love the one you're with. You know, our industry has forever chased strangers. Yet those people, those doors you've claimed of the area, keep that love alive. But that doesn't mean you can just send a Christmas card at Christmas. You've got to have interactions throughout the year on a consistent basis because Tom, number two that came in was the advocate referrals, which was actually connected to client re-engagement. But the person you're reaching out to, and Tom, if you're my original seller and you bought another property off another agent, but you're still in my turf, that is still one of my doors. But the chances of you passing my name on are extremely high versus me trying to convince a stranger that I'm better than somebody else, advocates came in at number two.

Tom Panos: 3:36

Just because you've sold someone a house does not give you the entitlement to get their listing next time they decide to sell. And I often hear real estate agents say all the time things like, there's no thing as loyalty. You know, I sold them that house. Here's the deal. If you're an agent that dealt with a buyer, they bought another property, they just had an amazing experience with you, I can see how you can be the agent that not only gets their listing when it comes onto the market, but gets their friends, their family, and every possible referral. So again, to the listeners there, you can actually build an incredible business. Just those two methods so far that we've spoken about, right? Those two methods alone can become the cornerstone of your real estate career in building a referral-based business.

Lee Woodward: 4:25

Number three was buyer-sellers. When a buyer inquires on a property, the sellers, the buyer, the buyer's the seller. We've only got one community. But it's amazing how many people will not release their trade-in unless they find somewhere worthwhile going to. We're getting the inquiry, but we're not delving deep into that question of the property you're in now, Tom, are you going to hang on to that one or? But finding out where does everyone live, which means you should never work with a purchaser unless you've discovered their home address so you can get that trade-in. And the buyer-seller has been a massive listing stream.

Tom Panos: 5:03

When I was in real estate in 1988, when I first started in real estate, I was in a suburb called Marrickville in the inner west of Sydney. Didn't know that many people. If you think about it, even though my franchise group was telling me, go off and interrupt strangers who didn't want to talk to you, which was called door knocking, I thought to myself, hang on a second. There are just hundreds and hundreds of buyers I'm coming across every month. They're the easiest people to be speaking to, Lee. And what I learned is something, and that is that if you built rapport and trust with a buyer and you then qualified and you dug deep, often they would actually say to you, hey, would you mind coming in and having a look at my place? So one of the things that I learned was this term called the buyer assessment. What I used to do is I'd meet a buyer, and then if I was able to establish with the buyer that they owned real estate within the Inner West, I would actually say to them, hey, listen, I'd love to sit with you during the week for 10 minutes, where I'd actually put you on our pre-marketing opportunities list. So before properties actually hit the market and hit the newspaper, back then there was no realestate.com or domain.com. So before those properties hit the market, before they hit the newspaper, before we put a signboard up, I want to let you know about them. You'll get first move advantage. How open-minded would you be to sit with me for five minutes where I can find out exactly what you're looking for? So I'll only target you and call you when we've got something. And I used to find people say, yeah, sure. And I'd say, Listen, don't come into our office. I'll do it at your place. I'll pop by, I'd go over on a Tuesday, 10 minutes, sit there, and often Lee, they would actually say to me, Well, you're here, what do you reckon our home's worth? That was in fact the beginning of a listing presentation. So to the listeners, let me say to you, if you can't beat people in your marketplace on experience and brand and profile and have a big database, let me tell you, beat them by being the best buyer servicer in your core area. It is the easiest people to work with when you first start off in real estate.

Lee Woodward: 7:01

Just to add another line into that, because this was one of my best things as a salesperson to do. I'd show a lady around a couple of houses and go, nah, they're no good, they're no good, they're no good. And I'd say, Helen, I could save you a lot of time. Well, if I know what you're living in now, I'll actually know what not to show you. Because obviously these aren't better than the one you've got. Why don't I pop over and see what you've got, and then I'll know what the next step looks like, and you can tell me what it hasn't got that you want to see in the next property, and I'll go and find it for you. And that method of caring about product to next step, and you can see why the buyer-seller moment is so important.

Tom Panos: 7:39

Well, Lee, that's beautiful. That was seamlessly done. Compare that to a real estate agent knocking on a door. Hey, it's Tom here from the local real estate. Do you want to sell your house? Right? Just compare the two, right? One is warm, one is service-oriented, one is solving a problem, the other one is high pressure, salsy, intimidation, pushy, and cold. Man, I love it. I love it. Because the truth of the matter is, Lee, once you're in their house, man, we know where the conversation heads to.

Lee Woodward: 8:12

Tom, number four, and this was a very, very interesting one to come into the line of listing streams, if you like, but that was from the professional advocates of the industry: the lawyers, the accountants, the builder, the plumber, the carpenter. And they're always there, but you've got to know how to keep that love alive with those relationships by sending them business and expecting business back in return. And I think your greatest relationships in the industry stick with you. But you've got to have that stickability. It can't be a one-way street. What's your thoughts?

Tom Panos: 8:48

Many years ago, one of my first interviews in the real estate gym was a guy by the name of Marcus Kimanello, which I'm sure you're aware of, uh Lee, and you may have done some Marshall White. So I remember doing the interview and I said to him, How many people in your database? He said, 3,000, but six really matter. I said, Oh, what do you mean by that? He said, Look, firstly, you need to have a fit database, not a fat database. I said, Okay. And secondly, is he goes, not every piece of data is equal. And he said, For instance, I've got six people, and these six people, you know, I think one was an architect, one was a builder, one was a lawyer, one was an investment analyst advisor that advised a lot of high net worth people in Melbourne. These people had influence. They were shot callers in their field, in their industry. And these six people regularly gave leads to Marcus that would then contact these people. And the most interesting thing is the quality of the relationship with those leads are far better than if you didn't have an influencer referring you. They've done the sole job. They, you know, the architect has said, just use Marcus, don't use anyone else. I think the takeaway point there for the listeners, Lee, is that make sure that you're breaking bread with people that have got influence in your community. You only need a handful of those. That handful of people can actually provide you opportunities that are going to sustain a long-term career in real estate. One million percent. That's in your top five. I can see why.

Lee Woodward: 10:21

And Tom number five, which was hook and send materials, meaning I might do a DL through a street saying just sold, click on the QR code and fill in the form if you want to find out about it. Now, filling in forms is not always the way to go, but I might send something out through a street, and especially a street that's I'm I'm working in that street, I've got a property on the market at the moment, but I might put some information through the street saying, should you move or should you renovate? To find out, contact this number and I'll come over and do an assessment. But you can't send something that doesn't have a hook. And I had a great result the other day from a 72-year-old agent working in Perth the other day who has got a Facebook hook and send, where he's got a beautiful report for his area. But if you want it, you click on it, you've got to fill in the form. But he's had 18 registrations of local residents who want the report. So the hook is that you have to fill in, call, react. You can't just pump it out and it's a one-way street. But hook and send was our fifth perfect one.

Tom Panos: 11:28

I love that term. I'm gonna plagiarize that, Lee. Um I love that term. I love that term. I actually call them ethical bribes, right? So so they're not illegal, but they are done in a way that they elicit a response that creates a lead. Whether it's an immediate seller or a future seller opportunity, all it's doing is giving you the opportunity to start a permission-based relationship. And here's the good news, Lee. Man, we know who our clients are. They're sitting inside houses in the street of our core area. We actually know who they are. You've got to make sure, and you use that term, claim that client, claim that house, right? Now, whether it's a letterbox strategy that you go out there that you use as your ethical bribe, or whether it's a lead magnet that you promote on social media like that 72-year-old did, which to me is great news because if you're good enough, you're young enough. End of story. So if anyone's listening to that, there's a 72-year-old that's using lead generation on Facebook. So it doesn't matter what medium you're doing, whether it's traditional or digital, what we clearly know is that if you put something out there that you have uh a reaction from that client that that is going to provide leads for you. So those five methods, man, I can see how they work in combination, not in isolation. You wouldn't want to just be using one of those methods. But um, yeah, big ticks across for me.

Lee Woodward: 12:53

Tom, what a great little show today. Double barrel coaches online. We've done the research. And I'll tell you how powerful today's little podcast is. You could just take these five methods, the learning and the advice you've just been given, and fix lead generation forever. Because we've both been around a long time. We've worked with so many people that we are giving you this as brilliant direct information, but you've got to do the next part, which is the activation, and that's where it all comes together. Tom Panos, thank you for joining us. Absolute pleasure, Lee. This podcast was brought to you by RealTear, the home of Pitch, Sign and Sell, the all-in-one real estate platform for real estate professionals. Call 1-300-367-412 and bring your career together with RealTear.