Best Paid And Free Real Estate Seller Lead Generation Ideas
For a real estate business, the core component of its success is the real estate leads that it manages to attract. Brokerages, realtors, and real estate agents are well aware of this necessity. Yet, when it comes to an individual agent, the decision to select the methods of lead generation is vital.
The primary reason for this is that a small business, in the initial days, would have a limited budget to spend on buyer and seller leads acquisition. Moreover, the worry about investing money in a method that may not translate into the actual number of new leads found makes many agents not attempt paid methods.
The truth is, there needs to be a balance between both paid and free-of-cost real estate lead generation ideas in your strategy. In this article, we shall share some paid and free lead generation ideas that you can utilize and strike an ideal balance between the expenses incurred on lead generation and the number of leads you receive.
Top Paid Real Estate Lead Generation Ideas
1. Utilize Predictive Analytics
Predictive analysis is the new buzz term in the real estate business. Slowly growing in terms of popularity and reach, this new artificial intelligence-powered lead generation method is poised to revolutionize the market.
Before we get into the unique real estate leads generating method details, think for a minute. What is the most crucial component when trying to acquire and convert a lead? It is the moment the client decides to make a move and agrees to sell or buy. At that moment, you need to be the realtor that they are in contact with and having discussions.
The predictive analytics tech takes into account multiple factors such as behavioral analysis, historical data, and real-time customer data to create a set of customer preferences. In other words, it can predict when a customer is ready to buy.
This information can be used to convince home sellers who are still unsure about listing their property. As their real estate agent, you can help them understand that the market is turning in their favor and that putting up their home for sale at this time would benefit them. They can get the maximum value for their home.
2. Sign Up For An Online Seller Leads Lead Generation Platform
A popular and trusted source for quality leads is the online lead generation platform. There are many such platforms offering the leads of clients interested in buying or selling their homes. Now, before you spend your money on a platform of your liking, it is necessary why this method is worth the cost.
There are three factors due to which this method has grown in terms of popularity.
A. Time Factor
Trying to find buyers and sellers on your own is not an easy task. It is certainly time-consuming, and when you are starting off as a real estate agent, especially in your first year, you may not have sufficient time. A platform of this kind enables you to directly obtain the contact information of potential leads and start the process of converting them into clients.
B. Growth Factor
Real estate lead generation is the foundational pillar of the success of your brokerage. However, real estate is not something that one individual buys or sells on a frequent basis. Therefore, there is a constant need to find new prospective clients. It is to ensure that your business keeps growing. This growth can come due to the supply of leads from such platforms.
C. Reliability Factor
All businesses have their ups and downs. However, in real estate, even in the less favorable periods, homes get purchased and sold. A platform of this sort can help you reach those clients who are moving ahead irrespective of the market conditions. It can help supplement your leads when the other methods have stopped providing results.
If you are an Arizona-based real estate agent, you would have heard of Dorrmat. It is the brainchild of James Sanson and his team. Dorrmat strives to provide a continuous supply of qualified home seller leads to the registered agents. If you wish to get the listings in booming real estate markets, such as Tempe, Phoenix, or Tucson, you will get them through Dorrmat.
3. Facebook Messenger Ads
In terms of generating leads through paid ads, there are many avenues. It is necessary to ensure that you are able to maximize your investment on the platform that you choose to advise. Now, unlike Facebook or Instagram where you will end up competing against a large number of agents, Messenger by Facebook is an avenue less used by real estate agents but actually has a large user base.
In fact, many people do not even log into their Facebook accounts but are always logged in to their messenger accounts. There are four key ways for real estate lead generation on this platform.
- Facebook Messenger Home Page Adverts
- Click To Messenger Adverts
- Sponsored Message Adverts
- Messenger Chatbots To Enhance User Engagement
Moreover, on messenger, you get all of the demographic details and ad monitoring control that you get for regular ads on Facebook, with the added advantage of a larger user base. Most messenger platforms have larger daily user numbers than traditional social media platforms.
So, it makes sense that if you are going to opt for paid ads on a platform, then it should offer you a large audience, there should be minimal competition, and you should gain maximum return on the cost that you are incurring.
4. Attempt Unique Real Estate Marketing
Marketing is the largest component of your expenses when you need to generate real estate leads. With a little bit of planning, you can make your dollars stretch and accrue more benefits.
A. Include Landing Pages On Your Website
Your real estate website should be a professional platform for you to attract your leads. Yet, most agents only focus on the marketing aspect and do not utilize it to attract leads. It is necessary to design landing pages with well-planned call-to-action buttons. You can offer real estate-related free e-books in exchange for your website visitors' information.
B. Put Up Billboards On High Traffic Roads
The key requirement in this business is to be top of mind for your potential clients. You can consider putting up billboards on those roads near your target location, which has a high volume of traffic. The more people would see your face on the hoardings, the better the chances are of them approaching you when they require the services of a real estate agent.
5. Utilize Drip Marketing Systems
An integral way to generate leads is by putting in place drip campaigns. These drip marketing campaigns are pre-set and automated methods of communicating with your clients, both prospective and past clients, who can help you gain future leads.
You can set up drip e-mailing systems or drip texting campaigns, as both will serve the same purpose. Depending upon the mode of communication preferred by your target customer base, choose either e-mailing or texting. For instance, if your customers are predominantly more active on e-mails, then that is the best way to stay in touch with them. Whereas, if your customers are millennials, then maybe text would be more suited.
Categorize your clients under proper categories and create unique messages for each group. Select an interval to send those messages. These messages can be recent updates about the real estate market, housing prices in their locality, general updates about home valuation, or others. The goal is to be in contact and build up the relationship. So when the client is ready to sell, you will be top of mind for them.
Best Free Real Estate Lead Generation Ideas
6. Work Your Sphere Of Influence
When it comes to free-of-cost real estate lead generation ideas, the first and one of the most effective ones is to ask among your larger social circle of friends and family for any leads. This method is called your sphere of influence. It is termed as such because these are individuals who know you well and would be happy to lend you a hand.
Create a script, and whenever you meet a family member or friend, remind them that you are looking for new leads, and it would be a favor if they suggest one. Be friendly and offer some low-cost services or gifts for the referrals that you can get from them as a way of thanking them.
7. Tap Into Social Media Influence
Many agents believe that all forms of social media marketing are paid. But this is far from the truth. There are many avenues for getting leads through social media platforms, and not all of them are paid. Social media platforms have a large user base and a wider reach.
For an agent, a well-crafted business account on major social media platforms can help widen their circle, communicate and keep their audience interested in a cost-free way. Social media can be utilized to provide virtual house tours. You can post short videos of new listings or put up photos of them. You can also consider conducting a Q&A session with your followers. All of these activities will help establish your expertise as a real estate agent and translate into more leads for you.
8. Turn Your Open Houses Into Lead Magnets
Ever thought you could get leads as you work in an open house? Among our most preferred no expense real estate lead generation ideas, open houses top the list. An open house is meant to sell your listing and get your seller the maximum value possible.
However, when you help them sell their home, you can also attract other local clients. It is a myth that only potential buyers visit open houses. In fact, we would advise that you should go door-knocking or distribute door hangers all around the immediate area and invite everyone to the open house.
This way, you will get to meet a larger number of people and collect their contact information while making sure you are giving them your business cards. Once the open house events are over, it is time to start contacting these visitors to the open house.
All you need to do is pick up the phone and start contacting these visitors one by one. It is far better than cold calling, as all of these people have already met you once and willingly gave their contact information. Unlike cold calling, which can be a hit or miss, this method of contacting people has the potential to generate real estate leads.
9. Work The Expired Listings And For Sale By Owner Homes
Our last idea for generating leads is to identify and approach the homeowners with expired listings and those homes that have been put for sale by owners. The advantage of these leads is that you are already aware that these are motivated sellers. So, if you plan well, there is a good chance of converting them into clients.
Always try to pick those listings which have expired months ago and have not been re-listed. This selection method will ensure that you do not expend your time and energy on those recently expired listings which many other agents would also be targeting. Plan a proper problem identification of reasons the property remains unsold and solutions to fix it when you re-list it before approaching the clients.
Similarly, for sale by owner category, plan a step-by-step approach to contact them. Be patient and do not rush to offer your services. However, do point out the issues and technical aspects or difficulties that such homeowners face due to the lack of expert guidance. Both these methods help to find real estate leads.
For a successful real estate business, it is necessary to ensure that your lead generation strategy covers all the essential routes to gain new leads. There are many ways to generate leads. However, you need to ensure that you select the right mix of sources, both paid and free.