This post was originally published by me on the Home Value Leads blog entitled "Top 8 Real Estate Lead Generation Sources" and is reposted here for your consideration and discussion.
One of the keys to success in any business is sales leads. No matter what your business is, if you don’t have customers, you don’t have a business. And when it comes to the real estate business, its even more critical; your real estate leads are your lifeline to more sales and ultimately, a thriving and successful real estate career. But there is lots of competition and plenty of realtors out there who would like a piece of the pie. How can you get a leg up and ensure you have a constant flow of quality leads coming in? Here are a few tried and true sources for real estate leads.
1. Word of Mouth Sometimes, the old methods still work; word of mouth is the oldest form of advertising there is. Tell everyone you know that you are in real estate and looking for clients. In the modern world, social media is an effective tool for networking as well.
2. Advertising When it comes to sources for real estate leads, do not neglect plain, old-fashioned advertising. Anything from door hangers to windshield flyers can be more effective than you think. The profit from even a single real estate deal could repay your advertising costs many times over.
3. Estate Sales Once all the stuff is out of the house, families are usually looking to sell. Check Craigslist for estate sales in your area; they are happening nearly every weekend. Unless you want to sound like a jerk, do not approach the family directly; make your preliminary contact through the company doing the estate sale. You can also partner with an estate sale company to cross promote and increase your lead generation success.
4. Vacant Properties There are many reasons a property could be vacant; whatever the reason, whoever owns the property would probably be happy to sell it. To find vacant properties, cruise the neighborhood looking for overgrown yards, dead grass and free newspapers that are not being picked up.
5. Know Your Market This seems obvious, but some amateurs get the idea that real estate can be done remotely, with little personal involvement. The truth is that the most successful real estate professionals got there by working the areas they know. Let your name become synonymous with real estate in the area.
6. Develop a Specialty Many people think that developing a specialty limits the number of opportunities available to you. On the contrary, if you know your market well, you know what type of properties have the most market potential. Do not spread yourself too thin; focus your real estate lead generation efforts on a particular segment of the market.
7. Keep Your Ears Open Any time you are in a place where people congregate, whether it is a social, religious, or networking event, being aware of the conversations going on around you can be a great source for real estate leads. The key to this approach is tact. Everyone knows that person who sticks his or her nose in other people’s business, and no one likes them. Do not be that person; introduce yourself first, and use transition phrases like “I couldn't help overhearing…” to ease into the conversation.
8. Past Clients Assuming you are good at your job, your previous clients may be willing to work with you again. Check back in with them every now and then to see if they or anyone they know might need your services.
No matter what type of real estate you are in, it can seem impossible to get enough real estate leads when you are starting out. But the leads are out there, if you are willing to put in the work to find them and investigate multiple sources for real estate leads. The effort you put in now will pay off down the road. Good luck!
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