Agents who have spent an entire day knocking on doors without a single prospect can probably vouch for the difficulties involved in lead generation. A hard pill to swallow is that marketing efforts don’t always land, and the constant rejection isn’t ideal for some. However, there are many ways you can supercharge your lead generation efforts, get leads, and convert them into listings.
So, what are the most effective ways to generate leads?
It depends on your specific skill set, but here are a few common (and not so common!) methods to increase your lead count—and your sales.
Referrals
The most effective way to get leads is leveraging a critical component involved in buying and selling homes—trust. Networking with family and friends is an efficient way to get recommendations, especially as a new agent.
One approach to getting referrals is speaking with people in your circle about real estate. Make a list of everybody you know and call them. It can seem tedious, but recommendations from a friend have a high probability of converting into a sale. Once you’ve sold a few houses within your circle (provided you do a great job), it can open up the proverbial floodgates of business.
Another approach is to use your personal social media channels to raise awareness about real estate. You don’t necessarily need to post something as direct as, “Do you need an agent?” on your Twitter account to get results, either. The social media marketing route shouldn’t feel pushy and ideally will contain real estate information that benefits your followers. Post content that educates your followers about buying or selling a home. Share your current listings and attempt to add value by stoking genuine interest (more on marketing platforms later).
Open Houses
Imagine if there was a place you could go where interested buyers and sellers would fall into your lap with minimal effort.
Open House ( ō-pən-ˈhau̇s)
1. a house or apartment open for inspection, especially by prospective buyers or tenants
Everybody who walks into an open house is a prospective buyer or seller. There’s also an entire neighborhood witnessing, first hand, a fantastic local agent (that’s you) in action.
Take advantage of the opportunity for some outreach—go door-to-door and invite neighbors to the open house early, mentioning that it’s a “neighbors’ exclusive event.” This strategy bodes well for your client because you’re giving the home more exposure. It also builds leads for you and gives you a non-pushy way to strike up a conversation. You have a chance to convert these leads instantly by casually asking each neighbor, “Have you ever thought of selling your home?”
Traditional Marketing
Contacting people and asking them straight-out for their business typically involves a high rate of failure. However, if you stay committed and chip away at leads every day, you’ll eventually find a client. You can door-knock neighborhoods, call the contacts on For Sale By Owner (FSBO) homes, check out expired listings, and even look into foreclosures. Some real estate agents will go online and pay for leads to take some of the heavy lifting out of the equation.
When you do start a conversation with a homeowner, be honest and ask, “If you could sell your home for the right price, would you?” Follow this up with an offer to run a comparative market analysis (CMA) on the property and email the homeowner the results. More often than not, a free value check of a home is enough reason to keep in touch, as the focus is on being friendly and helpful. And if the homeowner is selling alone, he or she may rethink the current listing price and marketing methods and may ask for your representation.
Another way to personalize these traditional efforts is to use hand-written cards or flyers to create a buzz. Stamp and send them to prospects, previous clients, and local businesses.
Check in on your contacts through the decision-making process; even if they forgo your services, they could provide valuable referrals in the future.
Online Marketing
The surge in digital marketing adaptation is causing massive waves in the real estate industry, as most buyers and sellers use the internet for their home search and sale. New agents can build brand awareness, generate leads, and educate their network like never before using digital marketing strategies.
Not all platforms are created equal, though. Here are a few to consider:
Facebook – Best For Lead Generation
You can use Facebook to run inexpensive advertising campaigns that create brand awareness. Even though you can’t target demographics specifically anymore because it violates the Fair Housing Act (FHA), you can still advertise homes generally, either on your business page, your brokerage page, or even Facebook Marketplace. And of course, an ad campaign puts you directly in the newsfeed of buyers and sellers in your city or zip code.
Instagram – Best For Personal Branding
Many agents swear by Instagram. It’s a visual-first platform, so if you’re a natural with photography, design, and video, it might be a good fit. There’s arguably no better way to raise awareness and supercharge your personal branding. Instagram allows you to provide a window into the world of real estate and take people along for the journey.
YouTube – Best For Free SEO
Agents can use YouTube as a free tool to educate their audience and drive their website’s organic search traffic. The best part is that you don’t need a fancy video setup to get started—all you need is a smartphone, some natural lighting, and a good editing app.
LinkedIn – Best For a Niche Audience
LinkedIn allows you to create great content like you could on Facebook with one bonus—people already expect that you’re promoting or having conversations about business. There is also a myriad of LinkedIn Groups you can join to demonstrate that you are a leading industry expert and thought leader.
Craigslist – Best For Unique Leads
Believe it or not, Craigslist is a great place to get leads. Reach out to FSBO and absentee homeowners trying to rent, and keep an eye on expired listings. Offer your help.
AgentStory – Best For Effortless Lead Generation
Getting leads on AgentStory is straightforward because the leads come to you. The website is designed to match homebuyers and sellers with the best real estate agent based on their home’s criteria. You just need to follow up!
The Bottom Line
When you start to build leads, it triggers a snowball effect. The most potent leads are referrals, which often come with increased exposure and networking. Remember that you should try multiple marketing channels but that it’s not necessary to stick with all of them—utilize the ones that complement your personality and skills. While the work may seem daunting at first, over time you’ll develop a rhythm and it will become easier to put yourself out there.
The most influential real estate agents strategize with a prospecting plan, and then execute on it, which often relies on small and consistent efforts over time.
