Lead generation is somewhat of a trendy business term that does not have a direct connection to real estate right off the bat. While many marketers and small business owners spend time learning about lead generation techniques, most real estate agents never focus on how to implement these practices into their own business to find new clients.
What is so special about lead generation? In short, it can make the difference between a highly successful business, no matter what the industry, or a business that struggles to stay afloat month to month. Lead generation is all about finding potential clients and customers to sustain future business. When small business owners, real estate agents, employees or professional marketers go out to generate leads, they are actively seeking individuals who are more likely to convert into a customer with some smart advertising.
The truth is all real estate agents have a need for lead generation. Any realtor looking to find a competitive edge for their business will be looking at how these practices will make their life easier in the long run.
It Is Necessary
If you are a real estate agent, ask yourself this question: How do you normally get clients? Do they automatically seek you out? Do you have to advertise to the masses to generate interested clients? How you answer this question will determine where you are with your own lead generation practices.
To have an effective, successful business, lead generation is a must. The problems with common client conversion methods realtors use is wasted time, money and energy. General marketing, for example, is often ineffective because it doesn’t take the time to seek the individuals most likely to become a good client. This approach simply takes the strategy of “as much as possible” in terms of potential clients. This means real estate agents spend more time either marketing to audiences not looking to buy or sell a home or cast too wide of a net to potential customers out of their local area.
Lead generation, on the other hand, involves finding and qualifying potential leads to pursue. Qualification is the key aspect that differentiates these practices from typical marketing. Instead of just blanket advertising to a target audience, extra steps are taken to make sure that target audience is the best one to pursue. A number of realtors who use lead generation successfully are able to research potential clients before firmly committing to the official client/agent relationship.
It Is Easy
The great thing about lead generation for real estate businesses is how easy it is to implement. In fact, most of the steps involved are some you already do to market potential clients seeking to buy or sell a home. Good, strategic advertising is one important component to lead generation. If you already have a good marketing platform in place–consisting of a website, social media presence, local ads and more–you have a head start.
The new steps are the research required to qualify potential leads as they come in. One way to do this is to filter out good and bad leads that come in from your marketing efforts. If you start to have many potential clients approaching you, take the time to discuss their needs and expectations. Do this before making a firm commitment to work with them so you can be sure the fit between client and agent will lead to success.
Another approach to lead generation is with better target audiences driving your marketing efforts. Many real estate agents only make the minimal effort necessary when it comes to thinking about their advertising audiences. Some are even indiscriminate when it comes to these audiences, creating local physical and digital ads that will appear to people will little or no interest or need in a realtor.
Taking a little bit of extra time to define and shape your target audience is a way to prequalify potential leads based on simple information like demographics. Many advertising channels like paid social media and digital platforms make it easy to define and advertise to certain target audiences. Take the time to learn these tools and how to integrate them into your marketing efforts so you can start to find better qualified leads right from the start before contact is initiated.
With the right amount of effort to integrate these steps into your existing marketing efforts, these real estate lead generation techniques are easy to implement. More importantly, they can be effective for giving your business the competitive edge it needs to succeed.