Sales leads are prospective consumers of real estate services who show interest in buying or selling real estate now or in the near future, by either providing their contact information to you or allowing a referring party to provide it to you. Why do some agents attract the lion’s share of leads for top listings and qualified buyers while other settle for the crumbs? Market leading agents are “lead magnets”!
Think about this concept of magnetism! Why do some companies attract the best talent while others are talent-challenged? They have found a way to be a “talent magnet”. Why are some guys “chick magnets” who attract many girls while other guys find it difficult to get dates?
There is no secret formula for stellar lead generation! Lead magnets are agents who are certain of who they are, what they stand for, what they are passionate about and what they do best. Their CERTAINTY of their personal brand and their unique promise of value, i.e., their brand story is the SOURCE of their magnetism.
Sure, there are certain actions that you can take that produce leads like advertising, direct mail, even cold calling or door knocking. However, these are just supplemental sources of leads.
Apple, the most valuable company in the world, advertises. But, they get far more business from publicity and word-of-mouth advertising from raving, loyal fans than from TV commercials or billboards. Apple’s uncompromising brand story focused on quality products that people love, plus their legendary customer service is the generator, the magnet that attracts more and more customers.
When you are certain of who you are as a real estate professional and how you are different from your completion, you live in a binary world. People are either a match to your brand or not.
A good lead is simply a good match. And, you are certain that there is no scarcity of good matches, providing that you do not waste your time with leads that are weeds!
For that reason you also do not waste your time keeping track of the weeds. You just continuously cultivate those relationships that are a match to who you really are.
In summary and in order to address the three parts of the Active Rain Contest that sparked this post here are our responses:
Part 1: Repeat business comes from customer loyalty, the loyalty that is created by consistently delivering on your promise of value.
The biggest source of new leads comes from consistently communicating your promise of value to more and more people.
Part 2: There is no degree of how good a lead is. It is either a match or it is not. Cultivate high trust relationships that are a match to you. Weed out all the rest.
Part 3: There is a big difference between relationship cultivation (which includes continuously staying in touch and acknowledging loyalty and referrals) and tracking your leads from supplemental sources like advertising or direct mail. It is obviously a good business practice to stay mindful of your spending and also keeping track of the results from supplemental lead sources.
It is not obvious that the primary source of lead generation is being certain of who you are. Market leaders have that certainty and that is why they are lead magnets.
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