Lead Generation - The most important 5 hours of your business each week

By
Real Estate Sales Representative with RE/MAX Prestige

The most important part of a real estate agent's job is Lead Generation and from what I can tell, too few agents treat it like it's the most important.  I don't want to belittle the importance of client care, negotiating, keeping deals together, and the slew of other tasks we do on a daily basis.  However, lead generation is the one compenent of our real estate career that will ensure that we remain in the business for years to come.

In this vein, the best real estate agents seem to be spending one to three hours a day on prospecting (ie lead generation).  Even spending one hour per day on this can be difficult if you don't prioritize your day properly.  Therefore, I'd like to share with you three tips for running a successful real estate business.

1. Lead generate for a minimum of one to three hours a day.  Lead generation is defined as picking up the phone or visiting your sphere of influence.  You must make verbal contact and you must do it every single day. That's not to say that passive prospecting (mailers, emails, and the like) won't work, they just won't work as quickly as one on one verbal communication.

2. Do your lead generation before you do anything else each morning.  Most of us get to work and we start checking emails and voicemails.  The next thing you know it's 5:00 and you haven't lead generated at all!  Since lead generation is your absolute priority as a real estate business person you must place it first on your to do list each morning.  Spend the one to three hours lead generating and THEN check your emails and voicemails.  You can afford to let your day fly by if you've already completed your prospecting for the day.

3. My last piece of advice regarding lead generation is to continuoulsy concentrate on the ACTIVITY of lead generation and NOT on the RESULTS.  If you spend one to three hours a day prospecting for business you will survive this market just fine.  The problem is that sometimes weeks will go by where your lead generating does not seem to be turning into dollars.  This is where some real estate agents tend to cut down on the prospecting activity because they don't see an immediate reward.  This is why you MUST always ONLY concentrate on doing the ACTIVITY of prospecting regardless of day to day results.  The RESULTS WILL COME.  Those that lead generate consistently demonstrate a nice steady flow of income throughout the year.

 

Comments (4)

Duane Murphy
Expert Real Estate Partners LLC - Appleton, WI
Broker- Owner-Real Estate -

Stacey-

Great points! You can never spend enough time prospecting! The second you stop you will pay for it months down the road!

Jul 27, 2009 07:32 AM
Andrea "Andy" Tolbert
HD Realty - Sanford, FL
Broker, Safety Expert, Instructor

Our market is definitely driven right now by getting back to "the basics" and of course prospecting is one of the basics!

thanks for the reminder (I've got to go prospect now!)

Jul 27, 2009 08:08 AM
TIM MONCRIEF
Tim Monciref - Austin, TX
Over 2,000 homes sold…..

The most important advice that will fall upon deaf ears.  I will hear 1000 comments or questions on lead generating programs, but without actually trying to get a lead, any lead generation program is quite meaningless.  We all want that quick fix.....  It is just not reality.

Jul 27, 2009 08:20 AM
John March
Charisma Media Group, LLC - Bluffton, SC
"Engage, connect, prosper" (Matt 6:33)

Stacy, no question, the fastest way to a lead is direct contact. I have been so remiss. There are ways to increase your sphere--that I used to do--just by walking around and introducing myself to business owners. exchange cards and put them into my contact manager for follow-up, relationship building... thanks for the post.

Sep 05, 2009 02:44 AM