A while back it might have been enough to stay in your office and wait for your clients to come to you. In today’s busy and competitive world, however, this could never work.
Regardless if you’re an agent with years in the field or a complete newbie, you need to know how to generate real estate leads if you want to stay in business.
Luckily for you, there are many proven strategies that may help you generate the leads you need. How are you going to keep them afterward depends on your own dedication and motivation.
Here are some tested insights on how to generate real estate leads.
According to a study of the National Association of REALTORS®, 42% of people turned to an agent that was referred to them by a friend, neighbor, or relative. This may sound discouraging if you are just starting in the business but be sure to use it as a motivation to do your best and convert your current clients into future referrals.
Once the deal is done ask for their feedback and encourage them to spread the word about you. Be sure to stay connected so that you’re on top of their mind when an opportunity appears. One way to keep in touch is to collect customer details with a sales funnel and then add them to a mailing list. From there you can send them monthly or quarterly emails with real estate tips and tricks or news about the area.
According to the same NAR study, people also tend to contact agents they have previously worked with if they need to buy or sell a property again. So make sure you leave your customers with a positive experience.
Build your network
Whether you’re targeting new home buyers, marketing for architectural firms or dealing directly with builders, your current and former clients are not the only people that could bring you free leads. Building a vast network around you shouldn’t necessarily include only people from the real estate business.
Here are several tips on how to generate real estate leads from the local business:
- Personal bankers are those who people turn to when they want to finance their new home.
- Divorce lawyers often have intel on when a property will have to be listed for sale.
- Frequent a local restaurant for all your business meetings. Getting to know the staff will eventually grant you better tables and service and make you look popular around the place.
- Encourage the seller to use a professional cleaning or landscape company to make the property more appealing to the possible buyers and close the deal quickly. Having a personal partnership with such companies may give your clients a discount for the services.
Visit open houses
Open houses are a great place to meet people interested in buying a new home. Whether they have already decided to purchase or are still just considering the idea, it’s a great place to meet potential buyers to add to your list of clients.
Contact expired listings
Cold calling is one of the most common techniques on how to generate real estate leads. Then why is it here? Because you should know that you can take it one step further.
Don’t contact listings that have just expired. Contact those that have expired as far as a year ago, the ones everyone else has completely forgotten about. Ask them if they are still willing to sell, listen to their personal story and offer your support if they decide to relist the property again.
Most importantly, make them feel like you are helping them reach their goal, not pushing them into working with you.
Reach to “For Sale By Owner” listings
When you decide to contact FSBOs, you should keep in mind that more often than not these sellers have a reason to decide not to work with a real estate agent. It may be a bad experience in the past or any other reason, but you should approach them carefully.
The most important thing to remember is to listen carefully to what they have to say and offer them a value they cannot miss. Asking them why are they selling is a good way to build a personal relationship.
If they turn you down don’t give up immediately. Ask them if you could follow up in a few weeks if the listing still stands. Try to keep the tone friendly and offer them support when they are ready to take the next step.
Build your own website or blog
In today’s digital era, it is important to build your brand online. Most potential buyers tend to do extensive research online before contacting an agent. You can actually reach out to companies such as Lead Propeller who are experts on creating websites catered specifically towards a realestate business.
Here are some tips on how to generate real estate leads by building your personal brand online:
- If you are developing in a specific niche let your readers know more about it. Are you the go-to agent for historic homes, or industrial properties, or student rentals? Tell them about the tips and tricks they need to know when looking for something specific.
- If you work in a specific neighborhood tell your visitors more about it by preparing community pages. They should include information not only about the real estate situation but mostly about what’s it like living there. Write about what you would want to know if you were considering moving to a new area – how are the public schools, what are the parks like, where do people go shopping or dining out.
- Advise your potential buyers and sellers on the essentials that will help them sell for the desired price or buy the home of their dreams. Tell them how to list their home, what to ask when contacting a real estate agent or a personal banker.
- Include videos to show off your best properties. Shoot a guided tour of the property for better customer engagement and motivate them to reach out to you.
- Offer free information in exchange for completing a short survey or just leaving their email so you can later use the information to generate leads.
- Don’t neglect your leads
Once you build your database of leads, make sure you keep them with you. If someone decides they are not ready to buy or sell at the moment, don’t be in a hurry to leave them behind.
Contact your leads regularly with newsletters or even personal calls. Keep them in the loop with the development of the market in the area or send them personalized listing they may be interested in.
Free leads need a lot of work to generate so be sure to keep them and eventually convert them into satisfied customers.