The Essential Steps To Generate Real Estate Seller Leads
Lead generation, in essence, is the lifeline for the real estate business and the prime area of focus for real estate agents. It is the simple marker of difference between realtors who close multiple deals in a year and those who struggle to find profitable listings. Those who have created a proper lead generation system can fine-tune it as per the changing market conditions to keep up a steady supply of leads.
We shall discuss in detail all of the essential aspects of real estate lead generation and the steps you need to implement to boost your lead generation efforts and results.
What Are The Essential Lead Generation Facts A Real Estate Agent Should Be Aware of?
Before we discuss the lead generation methods, let us first focus on understanding some basic aspects of this crucial component of your business. It would help you pick the right strategies that can help you gain more potential sellers.
Why Is Lead Generation Vital For Your Real Estate Business?
Real estate lead generation is all about finding those buyers and sellers who need the real estate services provided by an agent. These are the homeowners who you will help with their home sale. However, there are around 3 million real estate license-holding agents in the United States. So, how are you supposed to get the homeowners to hire you to help them with the sale of their home?
The key is to understand how real estate marketing works and how to build a lead funnel for your business.
What Is A Real Estate Lead Funnel?
A lead funnel is the core system with which you attract homeowners and convince them to hire you for carrying out their real estate transactions. All the real estate leads generation tactics are meant to help you find potential clients, who you then nurture and help reach the end of the funnel.
There are three major steps in a lead funnel. These steps are building awareness, helping evaluation, and aiming for conversion. These are the core stages in your potential client's journey.
In this stage, with a good mix of marketing efforts, a customer in your geographical target market learns about the services that you offer.
In the middle stage, the customer gets to know more about your services and expertise in detail. They can now compare the benefits of working with you with the advantages offered by others who they might have met.
Aiming For Conversion
In the final stage, you have managed to convince the customers and coax them to the end of the funnel. This is the stage where they decide that they want to work with you and want you to sell their home.
Once you have established a lead funnel, the next aspect that requires your attention is how you are going to get the real estate leads.
What Are Inbound And Outbound Leads?
Getting the real estate seller leads is necessary, but before you can start working on finding new leads for your business, you need to decide how to go about it. There is a need to decide whether you want the leads to approach you or do you wish to go to them and offer your service. Our suggestion would be to have a healthy mix of both methods to ensure optimum lead generation efforts.
When you attract potential customers to come to you, you are utilizing inbound marketing methods to generate leads. For this, you create resources and provide information that your target market finds useful. For instance, you can offer a free e-book, or a downloadable checklist for preparing a home for sale, or a newsletter with market updates. In exchange for these resources/information, the clients share their contact information or email address, through which you can approach them.
An exact opposite of the previous strategy is the outbound lead generation method. This method primarily depends on various forms of advertising that are aimed at a general population. The goal of this method is to reach out to those interested in selling their homes within the target segment. You can generate real estate leads with a mix of cold calling, sending out emails, and utilizing social media platforms to reach a wider base of people.
Steps Successful Real Estate Agents Follow To Gain Seller Leads
1. Create And Run A Useful Real Estate Website
To generate a higher number of real estate seller leads, you need effective marketing. However, before you start investing in various advertisement channels, you need to first create a real estate website. Your site will be the main base of all your content marketing and real estate marketing efforts. You can generate interest among prospective clients by having a well-designed and optimized site. There are two aspects that you should always include in your site:
A. Include Search Engine Optimization For Your Website
The search engine optimization (SEO) practices will enable your website to feature on the first page of the search engine rankings. This is highly relevant as most users do not look at the sites beyond this page. The SEO activities will ensure that your site is optimized both from a technical perspective, such as the creation of landing pages, and a content perspective, such as keywords and optimal search terms.
B. Include An Informative Real Estate Blog Section
Within the space of content marketing comes the blog section of your website. You can boost your real estate seller leads numbers by having a blog post section on your site with timely and informative articles on all aspects of the real estate business that would be of help to the website visitors.
2. Start Working Open Houses To Your Advantage
An open house is an excellent lead generation magnet, and when properly utilized, it can help you build credibility as a local real estate expert and help gather both buyer leads and seller leads. Make sure that you adequately publicize the open house.
At open houses, ensure that you are gathering the contact information of all the attendees and try to have one-on-one time with as many as you can. And finally, do not forget to make phone calls to these new contacts as soon as possible to discuss their real estate goals.
3. Lose The Fear Of Cold Calling Expired And For Sale By Owner (FSBO) Listings
Most real estate professionals are wary of approaching a specific category of expired listings or FSBOs as they believe it would be difficult to convert these clients. However, consider how low the competition for the real estate leads is if most realtors think in this manner?
Prepare a clear pitch and find an excellent way to approach those homeowners with expired listings with a better plan to help their homes get sold this time around. These are highly motivated real estate seller leads that you need to persuade to sign up with you.
Similarly, when approaching FSBO this listings, be prepared like the experienced agents. Be ready to tackle the challenging questions these homeowners may have. There is a need to both assure and persuade them that with a real estate agent by their side, they would be able to easily find a buyer for their home and also get a good value for it.
4. Generate Seller Leads With The Help Of Online Platforms
Many agents are relying on real estate portals to help find leads online. One of the prominent platforms in this segment is Dorrmat. At its core, this platform is meant to help realtors find real estate seller leads and grow their businesses. However, Dorrmat stands apart from its competitors in two major aspects.
First, as this is a platform built by experienced realtors to help other real estate agents, they provide more than just seller leads. The platform offers a branded landing page to better showcase their agent as a real estate expert, a feature to include vendors and improve the service range offered by an agent to the seller leads, and more. These features present the agent as a reliable and knowledgeable real estate expert.
Second, the extensive technological infrastructure built into Dorrmat provides a real estate professional registered on their platform with many tools and services that help them have ease of conducting business and assist in converting seller leads. One such tool and feature is an inbuilt customer relationship management software (CRM) that assists agents in segregating and tracking all their prospective customers.
The customer relationship manager also provides a reminder and scheduling features. Similarly, Dorrmat also offers direct lead capture links so that the realtors on the platform have a steady supply of quality real estate seller leads.
5. Build Relationships With Local Business Owners
You can widen the pool of your target audience by building relationships with all the local businesses. In the real estate industry, there are various businesses offering services, which a homeowner requires on a fairly regular basis. Selling properties does not take place in a vacuum. There are many individuals involved at various stages.
Form ties with mortgage lenders/ loan officers, home improvement service providers, and others. These individuals and businesses can be a valuable source of information about new listings and can give you information about new clients and their contact details.
6. Become A Member Of The National Association Of Realtors (NAR)
As a real estate agent, you need a network of other agents, and this can be done by becoming a part of the NAR. The prime benefit is that you get to use the term realtor in all your marketing materials, which adds additional credibility and puts you in the position of a local expert. However, we believe that the main benefit is that you become part of a real estate team having experienced realtors and gain many advantages. The members of NAR get to attend expert-led seminars, get access to exclusive real estate market financial information and projections. All this can help you find more leads.
7. Create An Active Presence On Social Media Platforms
Social media platforms have had a major impact on the selling process and are a marker for agent success. Social media marketing has become a separate section on which realtors need to focus upon. It is a great source for real estate seller leads as most millennials and Gen-Z clients are active on these platforms.
Incorporate the social media sites both for selling homes through publicity and for widening your network. You can even cross-link all of your social media sites with your real estate website and provide a direct link to the landing pages. This will ensure that your website information reaches more people.
8. Build A System To Request For Referrals From Past Clients
Past clients, your friends, and your family members are a great way for generating seller leads through referrals. Have a system in place where either through an e-mail or text, you can send them a link where they can provide you with referrals of the people they believe would be interested in your real estate expertise. Set a goal to generate referrals from each past client, as these would be all warm leads. You have an advantage when approaching these leads.
Agents are always in search of more effective seller lead generation methods to boost their business. However, the reality is that there is no one method that will continue to deliver results constantly. Successful agents understand that the real estate market is constantly evolving according to external forces. Therefore, these realtors always keep a close eye on their 'Efforts/Costs to Results' ratio.
This constant monitoring of the market trends helps them diversify and modify their real estate marketing efforts in such a manner that they always have an adequate number of home seller leads and active listings on their roster. With the right mix of lead generation strategies, all agents can close more home sales, earn more income, and take their business to new heights.