Are You in the 85% ... or the 15%?
In last week’s Zebra Report (“Is Your Business Dying on the Vine?”) I talked about the non-negotiability of lead generation in today’s business environment. Whether you’re a real estate agent, the owner of a restaurant, the owner of a surfboard shop, or a florist … you must generate leads if you want to have a sustainable and profitable business.
So let’s talk about real estate. Just how can you effectively generate leads to create the profit you need for your real estate business?
As I mentioned last week – and as I’ve talked about many times in the past – I firmly believe that to be effective, lead generation must “fit”.
And that’s what the title of this Zebra Report refers to! I estimate that 85% or more of all real estate agents are one of two personality styles – either “Promoters” or “Supporters” (If you don’t know your personality style, you can take our quick assessment here. It will be helpful for you as you continue to read this Zebra Report.). One of these two personality styles probably does sound like most of the real estate agents you know:
Promoters are the bright, bubby, outgoing “people-lovers”. Promoters are drawn to selling real estate because they love freedom. Working at a fast pace is a priority for Promoters, and they are typically energetic, enthusiastic, and results-oriented.
Supporters are quieter than Promoters, but they are also people-oriented. Supporters are the people who get into the business because they “want to help people”. They’re hand-holders, and are great providers of emotional support for their clients. Supporters work at a slow pace, and harmony is critically important to them. Supporters are responsive and cooperative.
If you are a Promoter who needs leads in your business, I have three suggestions for you: open houses (yes, I know you’ve heard me say this over and over again, but that’s because they can be very effective!), niche marketing, and teaching classes. Because Promoters typically have a high energy level, they can be effective at capturing the attention of an audience.
Supporters looking for leads should focus on open houses, expired listings, and networking groups. Potential clients in these categories appreciate the slower pace and more consultative approach favored by Supporters. Patience is also required for working in each of these categories – and patience is something that Supporters have in spades!
What about the other 15% of real estate agents? Those are the “Analyticals” and the “Controllers”.
Like Supporters, Analyticals work at a slower pace. But they are not the people you automatically think of as being a “people person”. Extreme accuracy is very important to Analyticals, and they don’t like to be rushed. Analytical agents appreciate structure and routine, and are always anxious to have “the right answer”.
And you can tell a Controller because of their focus on efficiency. Like Promoters, they work at a fast pace … but unlike Promoters (but very similar to Analyticals) they aren’t always super warm and fuzzy. Controllers are motivated by challenge – if you’re a Controller, you are highly results-oriented – both for yourself and for your clients.
Analyticals who want to generate leads should focus on activities such as geographical farming, MLS prospecting, and relocation. These types of lead generation allow an Analytical to play to their strengths, and all of them allow an agent with this personality type to shine.
If you are a Controller who needs leads, take action with investors, For Sale By Owners, and geographical farming. Because Controllers tend to be “strong” personalities, they are good fits for many clients that other personality styles would find challenging.
Even within your personality style, there’s no one “perfect” style of lead generation. What works for one Controller in one market, may not work for another Controller in that same market! Think about which of the three lead generation suggestions I’ve made sounds best for you, and sounds like a possibility within your marketplace. Remember too, that your lead generation activities should include both “now” money activities (think open houses or teaching classes) and “seeding” activities (like geographical farming and networking groups).
And of course, just because a lead generation activity is listed under a personality other than yours doesn’t mean it can’t work for you. You just have to work harder to make it work. In fact, one of my clients, Terry, is a Promoter. And Terry is the queen of expired listings. She has learned to work expired listings like you can’t believe, and as a result she dominates her market. If Terry had simply looked at the Promoter lead generation list and gone from there, she would never have tried expired listings. But she did – and boy, has she had success.
Do you have a better idea now what lead generation method you’re willing to try? Don’t forget – my personality assessment is free, and it can definitely get you thinking about a lead generation method that will work for you.
Wondering how social media figures into lead generation? Watch for my upcoming Zebra Report on that very topic!
By Denise Lones CSP, M.I.R.M., CDEI - The founding partner of The Lones Group, Denise Lones, brings over two decades of experience in the real estate industry. With expertise in strategic marketing, business analysis, branding, new home project planning, product development, and agent/broker training, Denise is nationally recognized as the source for all things “real estate”. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.