The Guide To Boost Real Estate Seller Lead Generation
The need to find new methods to generate leads is one of the aspects of the real estate business that keeps many real estate agents up all night. Real estate lead generation happens to be one of those subjects on which advice is abundant. However, this vast amount of information makes it hard to pick the right guide.
If you have recently obtained your license and are about to start your career, you should go through this guide. It can provide valuable insights and also help you avoid potential mistakes at the start of your professional life.
All You Need To Know About Real Estate Lead Generation
Now, before we dive into how you can generate real estate leads, let us first discuss some of the main aspects that real estate professionals need to be familiar with when it comes to leads. Once we have covered the basics, we shall focus on how the strategies to boost your prospects.
What Are Real Estate Leads?
In simple terms, leads are the potential buyers and sellers who hire you to help them with their home selling and buying transactions and deals. Depending upon the category of agent services you provide, your potential clients could be homeowners, renters, and individuals interested in real estate investing.
So anyone who wants to buy, sell, or rent a house is a potential customer for an agent. So, now why is it so vital to focus on generating leads? People will always need an expert to help them with their deals, so would not they approach the agents?
Why Does A Real Estate Agent need To Focus On Lead Generation?
Lead generation efforts have to be made because of the sheer number of active residential agents. In the US, there are around 3 million active real estate licenses. And this is the competition that you face as a realtor.
Moreover, top realtors are swamped with leads, many manage to acquire a few each year, and there are some with hardly any leads. Unlike other businesses, in the real estate industry, you need to put in the effort to attract your leads.
Real estate lead generation is the bedrock of this business. It is pure numbers. The more you generate leads, the more your chances are of getting clients. And the greater your income would be from each of the closed deals.
What Are The Sources Of Leads In The Real Estate Business?
Primarily, there are three key sources through which real estate agents get new leads. These sources are as follows:
A. Sphere of Influence
For any new real estate agent, the first source of seller and buyer leads is obtained through the referrals of their friends and family members. Therefore, it is necessary that as soon as the license has been acquired, the social circle of a real estate agent should be informed that they are looking for leads.
B. Real Estate Brokerage
The secondary source of leads is through real estate brokerage, where an agent is registered under a broker for the initial period. Now, in this case, the number of prospective clients each agent and realtor gets allocated varies a lot based on many factors.
Some common factors would be the brokerage's method of lead distribution, the number of agents they have on the roster, and the number of leads that they attract in a particular geographical market. All these would greatly influence the leads each individual will get in a fiscal year.
C. Outbound Marketing And Inbound Marketing
The final source is the leads that a real estate agent acquires independently. This would be the result of the lead generation strategy that an agent applies. It would include both inbound and outbound marketing efforts.
The former refers to the tactics which attract the potential leads to you. The latter refers to all the methods where you approach the potential customers through different forms of marketing and advertising.
All these methods combined form the common sources of potential clients for a realtor. In this article, we are going to be discussing some of the key measures that an agent can implement as a part of the third way for generating leads.
Lead Generation Strategies For Real Estate Agents To Boost Real Estate Leads
1. Well Planned Real Estate Marketing Is Necessary
The first aspect that you should examine in order to get more leads is your marketing strategy. Similar to other businesses, in order to gain leads, a well-thought-out marketing plan is a crucial component. Our experts advise focusing on both offline and online marketing.
The target segment is fairly vast and highly differentiated. And yes, although there has been a strongly growing importance of online methods to market businesses when it comes to this industry, it is still a good idea to invest in both traditional and modern marketing tactics.
Let us examine each one in general.
A. Target Audience Through Phone Calls/Door Knockers
Cold calling is an activity that most realtors prefer to skip in favor of other options. However, successful real estate business owners have stated that they have tremendously benefited from cold calling potential prospects.
The key is to only guide them to the start of your leads pipeline. To generate phone leads, it is essential to have a good understanding of your target audience, in-depth knowledge of the current housing market, and provide value addition in your interaction.
The best way to do it would be with a pre-planned script. Another suggestion is to always have a specific time and a fixed number of calls to make each day. These two will ensure that there is no slack in the way you approach this method. It works similarly for hanging door knockers and handing out flyers. The goal is to always convey expertise and invite queries from the prospects, even in a short interaction.
B. Engage In Social Media Marketing
Generating real estate leads through social media platforms is another core step that one cannot afford to miss. According to the statistics published by the National Associations of Realtors (NAR), a growing segment of the US population prefers to find home selling and buying help and advice online.
In order for you to benefit, there is a need to do what other real estate businesses are doing, and that is investing time and effort in marketing on social media channels. Once a professional business profile has been created on social media sites such as Facebook, LinkedIn, Instagram, and others, use them to widen your circle and engage your audience.
Put up regular social media posts and keep your audience and followers engaged. Share free real estate advice, make announcements about new listings, and always post about your successful deals.
You can enhance the engagement and conversion of potential customers if you can post reviews and video testimonials from your happy clients. This creates an aspect of social proof, which is crucial for a prospective lead to approach you and hire your services.
C. Include Home Valuation Landing Pages On Your Website
Real estate lead generation is also possible by creating valuable knowledge resources and offering them on your website. The key here is to incorporate your website as an integral part of your marketing and lead attraction strategy.
For this, you would need to design landing pages that will prompt your site visitors to share their contact information in exchange for an e-book or a downloadable checklist with helpful pointers on how to ready their home for sale.
Alternatively, you could create landing pages where you provide free home valuations. The value of their homes is something that any homeowner is always curious about. Most people are unable to understand the intricacies of the real estate market and the value fluctuations of the property depending on the prevailing market conditions.
In many cases, homeowners have decided to list a home mainly because the property values were rising, and they stood to gain a lot. However, this is only possible when they have at least a rough estimate of what is their home's current value.
2. Generate Seller Leads With Online Platforms
To gain online leads, it is necessary to work with a market leader in seller lead generation like Dorrmat. It is the most popular platform for seller lead generation in Arizona and provides quality leads to agents in cities such as Phoenix, Tempe, Scottsdale, Tucson, Sedona, and others.
The significant differentiator among Dorrmat and other similar platforms is that this was created by real estate agents for realtors. That is the reason it provides all the core features with the best of technology. Dorrmat presents the agents as consultants to the highly motivated sellers.
Moreover, along with home seller leads, Dorrmat also provides a whole host of features, tools, and software to enable agents to deliver their best and gain maximum benefits from being associated with this platform. So from qualified leads to a strong customer relationship manager tool, you get everything with Dorrmat.
3. Prioritize Local Search Engine Optimization (SEO) Activities For Your Website
Local SEO is the latest buzzword in real estate circles. If you wish to generate buyer leads or find sellers, there is a need for SEO service. Long gone are the days when realtors used to create a website to stand out from their competition. Today, most brokerages and realtors have independent websites. So now, how are agents supposed to get a bigger share of the limited target base?
This is where understanding and working according to search engines becomes highly beneficial. People search for everything they need on popular search engines, such as Google. In the local SEO, you would design the information and advertisements of your site with the right mix of keywords that match the commonly used search terms.
What these target keywords do is push your website to the top of the search engine's ranking page. You stand to gain online leads because homeowners will come across your website first, and your incoming leads numbers will rise.
4. Turn Expired Listings Into Warm Leads
An oft-ignored aspect of real estate lead generation is through by approaching the expired listings. These are homes that were listed but failed to attract buyers or remain unsold due to several factors. These can be converted into profitable leads for savvy real estate agents.
The trick is to focus your efforts on the right home seller. Go through the multiple listing service and identify the homes whose listings expired at least a couple of months ago. The reason we are not advising to approach the homeowners whose listings have expired more recently is that many other realtors may also be approaching them.
Your efforts are better utilized by targeting homeowners who want to sell and have been unable to do so for many months. Approach them with a clearly laid out plan on how you would wish to re-market the house and suggestions to fix the issues that potentially led the home to remain unsold.
5. Participate In Local Community Events
More leads are generated through building and nurturing quality relationships than other common methods. You might have observed other real estate agents participating in the local chamber of commerce meetings or sponsoring the neighborhood baseball team.
All these are instances when they get to meet and engage with local businesses in their area. In order for you to gain real estate lead generation through association, there is a need to establish yourself as the local community expert. You can capture a lot of leads in your farm area by investing in the community.
As a real estate professional, there is always going to be a need to generate quality leads. By following the suggested measures, you can ensure that you are creating a strong foundation for your business to grow and expand. Everyone from past clients to local business owners can contribute to your success if you have strategic plans in place.
When you offer premium real estate services, you stand to gain the maximum benefit in the form of exclusive leads. You can build your real estate career and take it in the direction that you wish by following most of the suggested methods to boost your real estate lead generation numbers. There will always be multiple lead generation methods. The key is to find the one that works for you to attract leads.