Where & How to Get Leads Part #1
Whether you get leads from farming, referrals, open houses, or buy leads; leads are what generates your real estate business and keeps it going. There are dozens of ways to get leads and every agent wants to know where and how to get them and how much money to spend to get the best return on their investment. Let’s explore what you need to do for your business to generate the most leads so that you can start your year off in the right direction, and by springtime, you’ll have all the tools in place to have a successful year.
Farming is your bread and butter, it’s where you plant the seed and reap the benefits as it continues to grow year after year. To summarize farming, locate a neighborhood, condo complex, or area that has a turnover rate of at least 6%, and start marketing that farm. Door knock with door hangers, mail something at least once a month (postcards, newsletters, or market updates), target the area with your Facebook ads, call on expired or for sale by owner (FSBO) listings in that area, and don’t forget to cold call. Farming is a necessity to an agent’s real estate business and without it, you’ll always be chasing leads instead of the leads coming to you. There’s nothing better then getting a call from a seller who received a postcard or saw your ad online and wants a market analysis on their home. Farming works.
If you are part of an office that has a retail space then take advantage of floor time. If’s there’s a schedule, make sure you sign up. If not, ask your owner or manager if you can conduct floor time, preferably on the weekend, where you’ll be answer incoming calls and meet prospects that come in the door. Make sure you put out signs and flags letting the public know you are open and that an agent is on duty. Post on social media that your office is open, especially if it’s not usually open at that time. Have the MLS available so if a prospective buyer or seller calls or comes in, you’ll be able to access the information immediately. Know how to work the phones if you’ll be transferring calls to other agents, make sure your car is cleaned out and you have enough gas in case someone wants to look at property, have buyer and seller packets ready, and have business cards and any giveaways on hand. Floor time is free and the lead comes to you, what could be easier?
While open houses are not on the top priority for real estate agents due to the COVID pandemic, the number one reason to hold an open house whether for your listings or another agent’s listing, is to get leads. Remember when doing an open house to make sure it’s listed in the MLS so that it can be listed on all real estate sites that pull from the MLS, be sure to post the open house on social media using video or live stream on Facebook, and put out as many signs or flags the community will allow. If you want to have a busy open house, then try door knocking around the neighborhood with flyers detailing the open house. If you have a few dollars to spend, why not send an open house postcard to the neighbors by using Vistaprint.com and mailing them out yourself or Sendsations.com and they can mail them for you? If you want to try something new, you can purchase a cell phone call list using a company like Coleinfomation.com and sending out an automated message to all the phone numbers that will go directly to their voicemails by using a company like Slybroadcast.com. No matter how you market the open house, your goal is to capture leads, whether that’s by having a sign-up sheet by using an app like Openhomepro.com that you can download for free, utilizing a raffle to get email addresses, or using your charm and expertise to get leads. Make sure to get contact information and follow-up that week to thank them for attending your open house and add them to your lead system.
Advertising isn’t just about putting your photo in the local real estate magazine and hope someone will see it. Target your advertising just like you market to your farm. Find out if your community has a local newspaper or newsletter and get yourself in it. Start with a small ad or ask if they have any specials. Make sure your contact information is large and easy to read and add a photo and logo to help distinguish yourself. Partner with another agent or two in your office and run an ad together, this can cut down on costs. Facebook and Instagram ads are some of the cheapest way to advertise so take advantage and with Facebook, you can still target an area to advertise. To take the guesswork out of advertising, partner with a company like Bombbomb.com to help you create the best Facebook ads. If online advertising seems to difficult to navigate then try Adwerx.com. You can purchase a zip code whether for the web, for mobile and Facebook ads, or both. The ad can be changed anytime and it will target only that zip code. If you’re with a franchise, check to see if you’re eligible for discounts through any of these companies. Participate in local events as a vendor and have something to giveaway that prospective clients will keep. If the local home magazine targets your specific area, then try it out and always ask if they offer any specials. Digital displays, billboards, or bus benches are a great way to be seen by a lot of people if your community offers them and your budgets allows for it. No matter which avenue you chose, don’t sign up for a lengthy contract in case it doesn’t provide enough return on your investment and you want to switch to something else. Always ask and keep track of where your leads come from so that you’re spending your money in the place that’s generating the most leads. One of the worst things an agent can hear is, “Oh, I didn’t know you were in real estate.” By utilizing some or all of these options, you’ll never have to hear those words.
No matter where your lead comes from, you need to work the lead by responding within minutes, if not seconds, of receiving it. Utilize a customer relation management (CRM) system to keep track of all your leads. There are many CRM software programs so check out Capterra.com to compare and chose the one that will work best for your needs. If your franchise offers a free CRM, take advantage of it until your business grows and you need a plan that offers more features. Make sure all your leads are set up on campaign so that they are contacted at least once a month. Every lead is important so don’t let even one slip by you.
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