Generating leads can be a daunting task. The idea is getting the lead to engage, nurturing them through the sales funnel, and then finally closing them. However, this is easier said than done. And if you do not have an effective strategy in place, you may find yourself out of time and money, with no leads, very quickly.
This is why we have observed, talked to, and researched what is working for the top agents across the nation. So we can help you save time and money, and generate leads more efficiently for your business.
We are going to put the traditional lead generation methods on the back burner today, such as cold-calling. While cold calling can be an effective lead generation strategy, it can be very time-consuming and produce few results. In this article, we are going to be focusing on the most effective and time-efficient lead generation tactics.
Buy leads
In the modern-day, the best way to get leads is to buy them. There are plenty of online lead generation companies that provide this kind of service, whether you are looking for buyer leads or seller leads.
You might think that you should not be spending money on real estate leads, but the conversion rate from lead to a client is dependent on your skills. So, the most important thing to start on is to have plenty of leads, to begin with. The best realtors buy leads and capitalize on the large amount that they get to grow their business.
Think of buying real estate leads as an investment. Would you spend $5,000 if you know you will get $15,000 in return? It may seem tricky or unrealistic, but actually quite the contrary. You will need to invest in your business to get a return, and buying leads is a great way to start.
Check out "How Much Is My Real Estate Farm Going to Cost Me?" portion of The Close article "Real Estate Farming: How to Become the Go-to Agent in Your Neighborhood in 2021" for more insight into investing in your farm or target audience.
Utilize Facebook Ads and Make Them More Responsive
For Nathan Dadosky, the Director of Marketing for Game Plan, the problem with modern lead generation services is that they tend to make the process clunky for potential clients. Leads who are already set on buying or selling want the process to be quick and easy, and the best way for them to go through this process is to contact an agent directly.
On Facebook, you can make this process easy for them by simplifying how they can reach you through Messenger or Facebook Ads. As soon as they click your ad, they can already choose to have a live conversation instead of filling out a form on a website and waiting for a response. By creating an opportunity for one-on-one conversation, real estate lead generation becomes quicker and easier for you as an agent.
This is a very efficient way to generate high-quality leads from your digital marketing. While promoting your product or service and engaging with the lead directly, you also have the potential of grabbing the contact information of this potential customer.
Social media is a very powerful tool in any industry and one of the top lead generation strategies. And the best part is, you don't need a marketing team to do it.
Make Use of Predictive Analytics
According to Chris Linsell, a real estate coach and staff writer for The Close, predictive analytics is wonderful because it uses data science to increase an agent’s efficiency. Forget about casting a huge net and hoping for some leads to pop up. With predictive analytics, you can target a geographic area and target only the most likely leads to buy or sell within that area.
Offrs.com and SmartZip are real estate lead generation companies that help agents be first in the door. Both of these companies primarily predict future listings. And also provide real estate marketing tools such as landing pages.
However, both buyer leads and seller leads can both be obtained quite easily through predictive analytics. If you’re the type of realtor who wants to maximize your benefits for minimal resources spent, this can be an excellent option for lead generation.
Geographical Farming
Geographical farming is a proven strategy for winning real estate businesses. Real estate farming is defined as the strategy real estate agents use to position themselves as the go-to resource for a particular neighborhood.
This is accomplished through consistent marketing to your farm. This can be postcards, online ads, newsletters, door knocking, or all of the above. The idea is you target the area you would like to work in, and make yourself known to everyone in that area.
To use the farming analogy, you can think of this as planting the seeds. Over time, the seeds grow into crops, with consistent marketing of course. And eventually, these crops are ready to harvest, and when they are, you would be chosen and the agent they want to do business with.
This method does usually takes a bit more time (6-12 months) to start seeing results. But the compound effect of being the top agents in the specific area you are targeting is worth the investment.
Check out this complete farming guide from The Close here. It covers everything from what a farm is, how to choose a farm, and how much your farm is going to cost you. The breakdown this farming guide provides is very insightful and realistic, which is why we love it.
Google Ads To Drive Traffic
Our last, but certainly not least tip for generating real estate leads is Google Ads. Google is the #1 search engine in the world. There are over 70,000 Google searches each second. That's almost 227 million an hour and about 5.4 billion Google searches per day.
Advertising on Google is a great way to ensure your website or landing page is one of the top results on Google's results page.
For example, running ads for your website targeting keywords such as "Real estate agents in ___" or "Homes for sale in ___" would be a great way to get in front of people who may be looking to sell or buy a home.
Before you launch any ads, make sure your website is user-friendly and has some form of lead capture. For other tips on how to make your website more engaging check out our article "11 Elements of a Lead Generating Website". After your website is ready to go, you can reference this article which will show you how to create ads on Google.
Overview
The process of lead generation has changed substantially for real estate agents over the past decades. What used to be a mass of cold calling to open houses and hoping that you will end up with a lead has transformed into a competition of efficiency. With technology surrounding us in virtually every way, real estate agents must ensure that they can maximize their use of technology to their advantage.
Lead generation is the bread and butter of growing one’s real estate business, so apply these tips from the community’s top realtors and fill your pipelines while watching your business grow.
