What They Are, How to Acquire Them & Everything Else a Realtor Needs to Know
No matter which line of work it is that you are in, you naturally would want to stay on top of things. This means having all the tools and information that you need at your disposal. The same thing applies when it comes to the real estate business. Whether you’re a Realtor who’s flying solo or if you’re part of a real estate firm with a team of colleagues all working together – you need to stay informed so that you can be on top of your game.
Real Estate Leads: The Basics
One of the most important aspects of being a Realtor that you need to acquire skills for is generating leads. Lead generation is a marketing term which refers to the creation or generation of a prospective customer’s interest, inquiry and eventual consumption of a particular product or service. This means that acquiring leads is all about generating interest from a prospective buyer or seller of a real estate property.
If you’re a Realtor who is working from home, you can perform lead generation steps for the purposes of list building, acquiring a list for a newsletter or simply winning over existing and prospective customers who will take advantage of the real estate services that you are offering.
Learning How to Recognize Quality Leads from Junk Leads
Next, let us delve a bit deeper into how agents can acquire good leads. The first thing that you need to do is learn how to recognize high-quality real estate leads from ones which can be considered as ‘junk leads’.
Take a look at a few tips on how you can recognize quality leads from the junk sales leads:
- Make sure that the seller who you will get in touch with is motivated.
This is one of the challenges that most agents face on a daily basis: home sellers changing their minds at the last minute. If you want to generate quality real estate leads, make sure to only follow up on those who you think are the real, motivated sellers.
- Know what junk sellers leads exactly are.
More often than not, most agents will stumble upon junk sellers leads – a mere collection of names, outdated contact information and property listings. Junk leads are considered such because the homeowners have either no intention or no urgency in selling their property.
Top 5 Tips on How to Generate Real Estate Leads
Now that you already have an idea about how the basic information regarding real estate leads and how you can recognize the real, high-quality ones from the junk leads, what other tips should you keep in mind when going about this task?
Here are the top tips that you need to keep in mind if you would like to learn how to generate or acquire quality real estate leads:
1. Get referrals from past clients and remember to network everywhere you go.
The traditional way of generating real estate leads is by getting referrals from your past clients. They might know of somebody whose property is for sale, or they might have a friend or a relative who is looking for a new home. Another thing that you need to remember is that you can expand your network as an agent wherever you go. Always carry around your business card, strike up a conversation with people and build your network.
When attending weddings, social gatherings or organizing a party yourself – these are the other instances that you can use to your advantage to increase your network.
2. Go for the other traditional ways of generating real estate leads.
Sending out mailers and distributing or posting fliers are the other traditional ways that you can use to generate real estate leads.
3. Subscribe to a lead generation website or take advantage of a good lead generation system.
When you go online, you will see that there are a lot of lead generation tools that you can use. These can come in the form of web-based services, websites or software brands. To help you choose which brand and type of lead generation system is the best one to use, here’s a quick question guide that you can refer to:
- Does the lead generation system offer an online MLS or Multiple Listing Service search?
- Can the lead generation system send fresh leads which can be instantly sent to the customer’s e-mail address?
- Can the lead generation system allow you to offer clients a free CMA or Comparative Market Analysis of their property?
- Can the lead generation system create a free, customized list of the available properties in their area?
If the lead generation system can do all of these, then it’s definitely a great tool to use and help you grow your business.
4. Learn how to recognize quality real estate leads from the junk leads.
As mentioned earlier, it is a must for real estate agents to learn how to recognize good quality real estate leads, set them apart from the junk ones – and naturally only follow up on the good leads that you have.
5. Make sure that your own website as an agent is developed in such a way that it will attract a lot of traffic and can easily generate real estate leads for you.
Finally, remember that your own website is a powerful marketing tool for your business. Make sure to perform steps for SEO or search engine optimization. This way, when an online user searches for agents in your area, they can easily visit your webpage if it shows up on top of the results page.
Whether the site is still in the development stage or if it was already launched, you can still modify it in such a way that it will be able to easily generate leads for you.
Summing It All Up: A Final Word about Generating Real Estate Leads
All in all, there really are no new tricks to learn when it comes to lead generation.
The best thing that you can do is make the most out of all the tools that you already have.
Also, you need to go where your clients are. According to the National Association of Realtors (NAR) Profile of Home Buyers & Sellers, almost 90% of homebuyers go online to conduct property research like finding listings and possible buyers for their homes. As such, it would pay to establish your own website and develop it in such a way that it is able to generate real estate leads.
By following these tips, you can get more good quality leads, follow them up, close more sales and generate more profit for your business as a whole.