Generating Leads That Actually Work for Real Estate Agents
The most asked question from real estate brokers I get is “how can I take my business to the next level”. The real estate agents asking me this question tend to be educated, experienced realtors who have paid for a hefty price for my personal time and who have closed many deals month after month.
Almost all of them currently understand the 80 percent, 20 percent rule and are also having someone else do nearly everything in their business except generating property leads and showing up to be able to closings, says the Local Records Office.
When you look at the sales cycle that a realtor and homebuyer or seller go through it is quite straightforward. The real estate agent is actually contacted or contacts the possibility, they have a meeting to discuss the goals of the transaction and this is when it happens.
Once the potential client has met with the broker; the agent almost always becomes to an agreement signed stating that the agent is representing your client.
So, to produce more they have meetings with prospective clients, all the real estate agent has to do is get more real estate leads or prospective clients. This is where real estate leads come into the business cycle. More leads mean more prospective clients to sit down with and help through the buying or selling process.
How do Realtors Generate Their Own Real Estate Leads?
There are many ways for realtors and real estate brokers to generate their own property leads, but this goes against the 80 percent, 20 percent concept. The obvious answer is to identify a reputable real estate lead-generating company to send a consistent number of motivated realtors to talk about you or your company.
Notice the word “motivated” in my sentence. Many real estate lead generation companies do not target motivated home sellers or buyers and in addition, they sell these leads to realtors who then spend time talking with nonmotivated consumers.
You need to get positive leads to generate a company that you are dealing with and is generating inspired homebuyers or sellers, meaning they are looking for someone who helps them and are prepared to talk with a professional property person.
Are There Any Real Estate Lead Generating Companies?
There are many property lead generation companies, and each company has its own business plan or lead method and sale system. My suggestion is to ask the organization where and how their leads are generated and that means that you feel comfortable, the real estate leads you may be receiving are motivated, home purchasers or sellers.
Then ask what the conversion rate is for the company’s leads. A good list-size company will have around some sort of 20 percent conversion rate. Meaning two of all the ten leads will end up listed or perhaps a buyer representation agreement will be signed.
Once you have a conversion rate and the cost the company charges for each lead you can create a budget for your leads. One suggestion I would make sure is to insist there isn’t any cancellation fee for their services. The idea is to protect you from the “not so generous and honest companies” that you can get in this market.
Real estate leads are by far the obvious way to grow your business to the subsequent level. You increase the number of clients you work with. This also enables you to increase your network of new clients. Ask the leads if they’ve any family or friends who need a professional broker to help them in the next home search or sale made.