Avoid These Top 4 Mistakes of "Plain-Jane" Lead Generation

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Education & Training
http://actvra.in/576t
Also featured on Inman News.  


You know real estate in your target area like the back of your hand.  But, we all know that means very little if you have zero, zip, zilch home seller or buyer prospects.  If your leads pipeline seems to have dried up like a biscuit nuked in the microwave, "then let's add some butter, honey", said in my southern girl twang.

Many of us will say, "no thanks" to bread that is plain and dry, especially when we have other choices to eat.  Likewise, being "Plain-Jane" in business in 2017 means what you are doing is dry, you will likely not stand out, and your voice will get lost in the crowd, especially in the burgeoning real estate sales arena.  That is a big mistake.

Plain and Dry Mistake #1: Not Thinking About Follow-Up First


Catch and release fishing allows fish to be captured, then unhooked, and returned to the water.  That is seen by some as good for conservation.  On the other hand,  "catch and release lead generation" is good for growing other people's pockets (O.P.P.) and no I'm not down with O.P.P.!  "Catch and release lead generation" is what I call you spending time, energy, money, or other resources capturing prospective clients, to only unhook them by not following up, and return them to the sea of other real estate sales people.  Lead generation becomes a waste for your business.

Add Some Butter:

If you are hungry, a dry biscuit will do.  Unfortunately, if you are new, returning, or struggling in real estate sales, you may feel like this plain and dry mistake is okay.  It is not.  Stop right where you are.  Take at least the next day (two or three) and identify how you will keep in touch with every lead.  If you are into technology, a CRM (customer relationship management) app like WiseAgent or LionDesk may be great for you.  Or, you trusty Excel spreadsheet.  If it works for you, fine -- use it.  However, the key is that you must know before you get the lead, what your process to stay in touch will be.

Here are some guidelines no matter the type of system you use:

 

 


Plain and Dry Mistake #2: Not Doing at Least 3-5 Lead-Gen. Activities

You really like doing ____ (fill in the blank with your favorite activity to find new business).  So you only do that one thing.  Houston, we have a problem!  Have you ever heard, "don't put all your eggs in one basket"? (All my analogies today feature food... I guess I need to have lunch.)  Diversification in your lead generation methods is key but do not take just my word for it.  For my doctoral dissertation (a.k.a. really long research paper), I was able to scientifically study some of the 1,000 top producing real estate salespeople in the nation.  Yes, this is the crew selling $30 Million in sales volume seemingly effortlessly.  Here's one thing that I found (see the book, Profit with Your Personality for more findings from these elite salespeople): ALL of them had at least 5 lead generation methods they used simultaneously.   So if you are wondering why your income may have plateaued, you may not have enough diversification.

Add Some Butter:

Take this complimentary Leads Survey to get a pulse on what you are doing and what you can and should add to your lead generation strategy.

Plain and Dry Mistake #3: Not Always Adding Value

Harassment.  That is what it feels like when someone calls, emails, visits, DM, or texts me unsolicited, trying to cram their agenda into my already busy life.  None of us want to feel that way.  On the other hand, if I go to a store and the sales clerk entices me something of value (such as complimentary samples, information on today's discounts/sales, etc.), then I am more likely to hear her out, take her up on her offer, and buy more than I came into the store to get (how'd I spend that much!?).  The difference?  Giving people items of value (also known as lead magnets) with EACH connection that makes them glad to give you their contact information and hear from you again, eventually becoming either a client, fan, or both.

Add Some Butter:

With each touch you make, how can you add a relevant item of value for prospects?  Here are some ideas to help your creative juices flow:

 
 
 

 

Plain and Dry Mistake #4: Being a Lone Ranger

One of my favorite sayings is, "No man is an island, entire of itself" by John Donne.  In order for many of us to reach the champion level of lead generation activities that will give us our goal income, we need help.  Trying to juggle zillions of tasks means we will likely end up burned out, drop a few (or several) of the things we are desperately juggling, or miss once-in-a-lifetime, irreplaceable moments with our family and friends.

Add Some Butter:

You may not have the capacity to take on a full or part-time assistant but we all can use virtual assistants (VAs).  With services like Upwork or TheVAHub.com (courtesy of the dynamic Christian Ross, managing broker of Atlanta Tech Village's Village Realty who personally uses this service), you can have tasks completed for you for just a couple of dollars an hour.  Literally -- no exaggeration!  If cost has been holding you back from getting help, then try these two asap.

Want my worksheet (complimentary) from the business planning workshop I lead that can help you hire your first VA? Message me and it's yours!

Sound off - I would love to hear from you!  Give me a shout on Facebook, Instagram, YouTube, and Google+ or by visiting LearnWithLee.Realtor.  

Want more of the best practices of our nation's top producers? Grab your copy of the short read, Profit with Your Personality and, the classic, 5-star rated workbook, Plan to Win, to transform their real estate sales game plan.  Here's to your success! #LearnWithLee

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Gabe Sanders 09/25/2017 11:50 PM
  2. Tony and Suzanne Marriott, Associate Brokers 10/12/2017 05:56 AM
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Rainer
12,165
Corey Vandenberg
Platinum Home Mortgage - Lafayette, IN

Great ideas, I love the top 10 list! www.phmc.com/coreyvandenberg

Sep 14, 2017 08:34 PM #23
Rainer
99,814
Mega Team Real Estate
Realty ONE Group Alliance - San Mateo, CA
San Francisco and Peninsula Real Estate Concierge

Very Valuable article, Thank you for sharing.

Sep 14, 2017 09:18 PM #24
Rainmaker
206,101
Dave Rosenmarkle
Highland Realty - Arlington, VA

Excellent! Thanks.

Sep 15, 2017 02:43 AM #25
Rainmaker
3,932,060
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Lee.  Thanks for the excellent advice.  I'm saving this post for future study.

Sep 15, 2017 05:44 AM #26
Rainmaker
68,229
Luke Acree
ReminderMedia - King of Prussia, PA
Making Agents Memorable

Great break downs!

Sep 15, 2017 07:08 AM #27
Anonymous
Douglas Perry

Lee, excellent post told with style and a sense of humor!

Sep 15, 2017 08:32 AM #28
Rainmaker
510,892
Ken Tracy
Keller Williams Realty Infinity - Naperville, IL
Helping clients buy and sell since 2005

Hi Lee!  Love the post, especially the fishing analogy of follow up...

Thanks so much for writing!

Ken

Sep 15, 2017 09:05 AM #29
Rainmaker
297,133
M.C. Dwyer
Century 21 Showcase REALTORs - Felton, CA
Santa Cruz Mountains Property Specialist

C ongratulations - this is such a well deserved featured post Lee.    Liked, Bookmarked, Followed!    Thank you

Sep 15, 2017 10:27 AM #30
Rainmaker
8,887
Royalty One Mortgage
Royalty One Mortgage - Henderson, NV
Mortgage company in Henderson, Nevada

Lee,

 Terrific post filled with valuable lead gen tips! I find myself gravitating towards the 'Plain & Dry Mistake #4' as one of my favorite sayings has always been "It's not what you know, but who you know." I personally believe that networking is a brilliant lead gen tactic that seems to be an ever-dying art form. No matter how skilled you are at what you do, you can always benefit from surrounding yourself with motivated, hard-working individuals who bring a plethora of added value to your business. Looking forward to reading more of your posts!

 

-T.J. / The Royalty One Mortgage Team

Sep 15, 2017 11:57 AM #31
Rainer
344,774
Jennifer Prestwich
Henderson, Thornton, Broomfield and Westminster - Henderson, CO
Your Castle RE Colorado

Wow, Lee - I love this post!  Thank you for the light-hearted tone and GREAT, usable action steps.  I'd love to hear more, and I'm going to check out your website! 

Sep 15, 2017 12:22 PM #32
Rainmaker
95,498
Lindsay Reagan, Realtor
Wellington, FL

Thanks Lee!  Great Post..I sometimes have a tendency to favor a couple lead generators and forget the others!

Sep 15, 2017 12:26 PM #33
Rainer
34,404
Jackie Barikhan
Lake Forest, CA
Right Choice Mortgage - www.mylenderjackie.com

Such Great content!  Thanks Lee!  :-)

 

Sep 15, 2017 12:57 PM #34
Rainmaker
94,094
Eva B. Liland with Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service

Bookmarked for future studying, thank you so much Lee! Awesome post!

Sep 16, 2017 01:21 AM #35
Rainmaker
81,614
Ben DeHaven
Haven Realty & Investments - Winter Haven, FL
Proudly serving Winter Haven & Lakeland, Florida

Great advice, I'm bookmarking it to come back a few more times. Now I'm going to go find some biscuits!

Sep 19, 2017 02:22 PM #36
Ambassador
2,229,973
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Sorry, I didn't see your comment back until today but, I agree - we appreciate things far more when we earn them! Being taken for granted, giving literally hundreds of leads to other agents with nothing in return, I learned that lesson the hard way, Lee!  :-)

Sep 19, 2017 09:17 PM #37
Rainmaker
2,485,288
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Everything tastes better with Butter just remember the quote from  aka  Mrs Butter:)) that is Julia Child, Endre

Sep 21, 2017 11:01 PM #38
Rainmaker
2,619,330
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Lee Davenport "Giving people items of value (also known as lead magnets) with EACH connection that makes them glad to give you their contact information and hear from you again, eventually becoming either a client, fan, or both."

Right on target - and - re-blog!

Oct 12, 2017 05:55 AM #39
Rainmaker
3,711,392
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I love the post. Thank you for the great tips. I will bookmark it and read it again.

Oct 13, 2017 03:39 AM #40
Rainmaker
1,216,439
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

I really like your post presentation. What apps do you use for creating your infographics and images, if I may ask? :) 

Oct 23, 2017 01:09 PM #41
Rainer
377,437
Dörte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Lee,

Extra butter for me please. Great ideas here.

Dec 08, 2017 08:26 AM #42
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Lee Davenport

Learn With Lee Real Estate Coaching & Consulting
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