If your main source of lead generation is cold calling think of the words of George Carlin “Now That is Really Stupid“.
Do not be offended because the reality is that cold calling a a method to generate real estate leads is still taught and advocated by many “dinosaur” real estate agents and real estate brokers who just do not know better.
Unfortunately this is also the main reason so many real estate agents fail in their first year in the business. They fail because they just do not know how to do effective lead generation.
Many agents follow the lead of the agents at the office who is hanging around the water cooler. Just notice that these are also the agents that do not have anything going and they will always have an excuse why things are not working out for them.
Well over 90% of all home buyers start their search and research online before they will ever speak with a real estate agent. Will it not be more effective to get those people to reach out to you right at the beginning of their home search? Reaching these prospects by cold calling is like looking for a needle in a haystack, literally!
There are so many effective methods out there to generate a abundance of quality, motivated and qualified real estate leads. Just think of direct response marketing where you offer something of value (I dedicated a whole page on that on this website).
If you are still cold calling please stop right now and spend your time and money more effectively.
If you are lazy and looking for excuses why you do not succeed, please do some cold calling, you deserve the results.
Feel free to leave a comment or shoot me an email firstname.lastname@example.org
Need Real Estate Leads?
If the answer to this question is yes then this may be of value to you. To generate an abundance of real estate leads is and will ALWAYS be the easy part of the real estate business.
When I say that, most of the students I coached over the years looked at me as if I am from a different planet. The reality is that I have been and is generating real estate leads every single day, without spending a lot of money. The sad reality is that many real estate agent are starving for leads.
Reasons Agents are Starving for Leads
How to Generate Real Estate Leads Effectively
- No effective lead generation education. Unfortunately many real estate brokers do not have the knowledge to teach their agents. They still live in the past and teaching old, outdated and ineffective methods such as cold calling.
- Agents rely on one main source of lead generation and when that stop working they are out of business.
- Agents rely on lead generation companies to buy leads from. Remember with the gold rush it was the suppliers of mining equipment that became rich while very very few prospectors made any money and the majority lost everything. There is a reason these companies sell real estate leads and not working it themselves or referring them out, it is because they will not make money working it.
- Not understanding conversion. With online real estate leads the reality is that only 1% to 3% of online leads will ever buy and this is a proved fact. In addition these leads are in many instances 1 to 2 years away from buying. These companies may try and convince you otherwise. So to close 1 to 3 deals you need at the very least 100 qualified leads.
- Agents do not have a set system or set plan for lead generation with multiple facets. Let me explain – The
Pantheon in Rome was built roughly in 126AD and it is still standing strong. The reason that it is still standing after 2000 years is that the structure consist of many pillars holding it up. So even if one or two pillars fail, the rest will still hold the structure up. Your marketing campaign must also have many streams (pillars) of lead generation so when one or two become obsolete or ineffective the effect on your lead generation will be minimal.
- They are Lazy! There are 3 types of real estate agents, those that make things happen, those that wait for things to happen and those that wonder what happened! The real estate agents that are willing to learn new techniques and stay current with new developments and lead generation methods and most importantly APPLY these techniques consistently will always generate an abundance of real estate leads.
- Lack of consistency. Lead generation is a process, not an event. Any effective lead generation system rely on consistency. Consistency with marketing both online and offline.
- No lead capture system – In order to maximize lead generation efforts an effective lead capture system is an essential requirement. Again online lead capturing via a website form or lead capture via telephone call logging to mention two, this also need a multi pillar approach. Again this will require becoming educated on what is available.
- Multiple websites both branded and less branded. I dedicated a whole webpage on this topic. Click Here
- Effective USP. Why should clients do business with you? Visit my webpage on USP
- Effective automated lead capturing systems. Click here
- Multiple pillars such as (to mention a few):
- Paid online advertising driving traffic (Google PPC, Bing PPC, Facebook ads, Twitter ads, etc)
- Paid offline advertising driving traffic (Newspapers, real estate magazines, Innovative postcards and letters, etc)
- Free Online advertising such as Craigslist, Backpage, Ebay Classifieds, Postlets, and many more.
- Innovative listing signs with call capture functionality
- Social media strategies on places like Facebook, Twitter, Google+, Pinterest, etc (Strategies not surfing social media sites!)
- Track your leads. It is essential to know your ROI on each advertising campaign. Know which ads generate the leads and what platform these leads are coming from.
- Consistency. This is not only the consistency of advertising but also the consistency of testing and tweaking.
I will again stress the point that to generate an abundance of real estate leads is the easy part of the business.
You comments or views on this topic will be appreciated.
Are All Leads Equal?
The answer is yes and no. Real estate agents often search for providers who can provide them with the best real estate leads but they need to understand that a lead is just that, a lead, and without having a meaningful conversation with the lead to establish the motivation and the timing it is virtually impossible to determine if it is a viable prospect to work with or not.
So all leads are equal until such time as they are contacted.
Qualifying a Lead.
Too many real estate agents suffer from what we call “Call Reluctance” and this prevent them from qualifying leads effectively. All the leads from the different campaigns should go into the lead funnel from where they are qualified to determine if they will become a customer or not.
Fire Your Prospects!
This sounds crazy but this will be the most powerful thing you can do for your business. The fact is that you cannot and most definitely do not want to work with all prospects. You should decide who you want to work with and immediately get rid of the tire kickers and jerks, as they will take up most of your time and energy. Scarcity of leads is the only reason agents try to convert every lead without realizing that this will jeopardize their efforts and lead to frustration and eventually leaving the business.
To summarize the most important aspects of lead generation is to engage and qualify the leads, and fire those you do not want to be associated with.
Your comments is always appreciated and feel free to email me at email@example.com
There is a huge difference between someone who uses another company or service to generate lead for them and being a real estate lead generator yourself.
If you truly understand your customer and you truly understand the principles of effective lead generation you will be able to enter any new marketplace and start working with warm leads right away. I always use the example of that a true lead generator can be dropped off anywhere in the country and he/she will have new customers to work with in that marketplace that very same day! This may sound insane to some people but this is easily achievable by just implementing effective lead generation principles, and it work in ANY market.
The fact is that the majority of real estate agents are starving for leads. The sad fact is that the majority of agents that are in this situation do not know any better.
To become really an effective real estate lead generator, one need to learn these methods, rules, principles and skills but more importantly applying these methods in advertising campaigns. (Check out the rules for effective lead generation – CLICK RULES). Even more important is to be persistent and doing it continuously as this will create real success.
As always I appreciate any feedback and questions. Just shoot me an email to firstname.lastname@example.org, or just comment below.