It can be difficult to sustain a good real estate business without new leads to convert into future clients. The most successful real estate agents experience this challenge during times of slow traffic in the market. New realtors experience the challenge as they build up their reputation with local markets. For both new and experienced agents, there has to be a healthy line of leads to pursue for the business to continue.
This is why good lead generation practices are so important. Knowing how to find new leads and qualify them feeds customer conversion processes. These practices also make marketing channels like paid ads and your website more effective when leads come and check out the specifics of the business. When done correctly, lead generation is more than enough to keep the business sustained with new prospects regardless of where the market heads.
Here are some of the practices you should follow for your real estate lead generation techniques.
Aim for Quality Lead
Lead generation is partly a numbers game. The more leads you have, the more likely you are to have a good conversion. It is easy to think this logic means you need to get as many leads as possible. Doing so, however, usually leads to wasted time instead of actual clients.
The problem with this approach is the limited success the quantity-focused approach actually has in the long run. When you are shooting for a number of different leads at the same time, you cannot filter out the promising from the bad since the sheer numbers can be overwhelming. This approach requires you to be accepting of different lead qualities. Some may be the perfect fit with a high potential to become a client. Others will have no hope of a conversion at all. Unless you can separate these two types of leads, you are bound to waste time and money.
The best way to make sure you are pursuing only promising leads is with good lead qualification. Instead of shooting for as many leads as possible, you take the time to seek out only the most qualified possibilities. This means that from the start, you are taking steps to increase the likelihood of finding a lead that is more inclined to convert into a customer with less effort.
Qualifying leads require some research ahead of time. Plan out what types of leads are likely to be potential clients and what you may need to do to make the conversion happen. After this, you can use the same marketing channels and strategies to find potential leads. The main difference is taking the extra step of qualifying the lead before taking further action.
Utilize Social Media, Real Estate Sites and Paid Advertising
When it comes to actually finding new leads to pursue, there are several different options in the form of small business marketing. This is why many realtors spend a lot of money advertising to potential clients. Those starting out or who need to save some money on these expenses, on the other hand, often find digital marketing to be a good fit. This is especially true for online advertising that is free.
Social media has changed the marketing game within the real estate industry in the past few years. Now, real estate agents can keep an eye out for potential clients, establish their reputation online and even seek out individuals looking to buy or sell a new home. Since most potential home buyers and sellers are also using online tools to find business and real estate agents, the digital landscape offers a good fit for clients and agents alike.
The key is to use social media platforms as an interactive business card. These platforms become something you can point others to as they start the conversion process. In addition to a proper website, these also help draw new clients in who may be searching for a new real estate agent.
Use real estate sites like Zillow to market yourself as well. In addition to having home listings, many of these sites have a platform for real estate agents to market themselves for a small fee.
Compared to traditional paid advertising, the advantage of this approach is you are placed right in front of an audience that is actively seeking to buy or sell a home. In other words, this audience needs the services of a good real estate agent. This takes some of the challenge of finding interested leads out of the equation since they already fit some of the qualification aspects necessary to show promise as a lead.