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How to Excell At Lead Generation in Real Estate
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Real estate business is a “lead generation business.” Before anything else can happen, you need to make an initial connection with a prospective customer/client – no leads, means no business! As a real estate professional it is extremely important that you master the art of lead generation.
Lead generation happens as a result of two primary activities -- marketing and prospecting. The difference between marketing and prospecting is similar to “harvesting” and “hunting.
Marketing is like “planting seeds of information” in the marketplace that eventually grow into a rich harvest of clients and customers. Prospecting is like going out and hunting for individual clients and customers one at a time.
Sending out a mailing is marketing; calling all of your past clients for referrals is prospecting. Taking out a half-page ad in your local newspaper is marketing; asking everyone you meet at the grocery store “Are you looking to buy or sell real estate now, or in the near future,” is prospecting. Offering a free report on your website is marketing; calling every homeowner in a neighbourhood to see if they have been thinking of “moving up” is prospecting.
Regardless of which of the two types of activities you do, consistency of action is essential, as is the selection of your target market.
A farmer would not throw a bunch of seeds on the ground, forget about them, and expect a good harvest, and he certainly would not plant them in rocky, infertile soil. A hunter would not go hunting once, and then decide he would never have to hunt again (that is, if he wanted to continue to eat) and neither would he hunt for a lion in the desert.
For any prospecting, or marketing campaign to be successful it must become a regular and frequent activity, and it must be directed towards the right prospects, using the right message. Consistent delivery of the right message, to the right market – are the keys to success in both marketing and prospecting.
Marketing’s effectiveness tends to drop the less motivated the target market is. When the people in your target market are hesitant about making a move you’ll need to step-up your prospecting efforts considerably, because less motivated prospects need the personal reassurance and guidance that can only be given one-on-one, which is the very nature of prospecting.
I am a firm believer in both and have developed tried and true plans that work and will fit any budget. Want to learn more? Here are some free reports that will help.
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How to Set Up Simple Real Estate Marketing Plans That Can Make You Wealthy
This article is about the importance of not building your real estate business around YOU, but instead, building it around a system that can work with or without you.
I told you last week, that I would talk about getting more listings this month…and I will…but I think it’s important to talk about some of the misconceptions that most people have about getting listings.
First of all, having listings will NOT make you a more successful real estate agent….only SOLD listings count.
Second, getting “famous” or “the top agent” in a farm area does not equal getting “Wealthy” as a listing agent.
Here’s the evolution that most agents go through to some extent throughout their career.
As a new agent…it’s all about finding some buyers to work with. Holding open houses, doing floor time, getting your feet wet.
All of that stuff is about self-esteem. “I better work with some buyers just to get some experience” and then, as they get busy and realize how hard it is to actually find buyers to work with, the next level becomes…I’m going to move on and become a “listing agent”.
So what happens?
Something very similar to this sequence: Read More
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A Sure Fire Buyer Prospecting System That Works
If you're looking to generate a consistent daily flow of targeted, red-hot buyers calling you, this quick and easy strategy will have your phone ringing off the hook almost overnight.
You don't need to make a single outbound call or prospect in any way. It will take you just minutes to set up. And (best of all) you can do it all on a "poor-boy" budget.
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42 Proven Strategies, Scripts And Tactics to Sell Your Listings Now
With the real estate market continually making adjustments, Realtors, Builders, banks and consumers are looking for solutions to sell their homes faster. One of the obvious challenges we face as an industry is a lack of experience selling in a “buyers” market. As CREA has stated … “Of the new licensees that joined real estate since 2008, nearly 87% came into the business with little to no sales and marketing experience.”
A Lack of Experience – Doesn’t help!
During a recent training call, 51 prominent coaches pooled together their collective 714 years in real estate and over 12,287 transactions closed to bring us this special report. Here’s what they came up with.
Please read this report with an open mind. Then, select one or two ideas and ACT on them this week!
Yoe will get results!
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3 Ways to Generate Real Estate Commissions Now and Build a Stable Business
Here are 3 proven strategies that I will cover in 3 parts. They Are
1. A great way to generate commissions (and sell your listings faster) with a great buyer marketing strategy,
2. How to create a “Customer List” that brings you consistent clients year after year, and…
3. How to understand your Return on Investment with your marketing.
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Personal Marketing for Real Estate Sales People
Personal Marketing done right is the greatest source of business for any Real Estate Agent. Done wrong, Personal Marketing can be an Agent’s greatest source of anguish, pouring money into marketing that gets few if any results.
There is a pervasive and extremely costly misconception about personal marketing for Real Estate Agents.
The misconception is that most marketing takes time to work; that it takes six months or longer to see results from most marketing campaigns.
This is simply not true. It is a well spread rumor spread by people who promote “off message marketing campaigns” sold to Real Estate Agents.
There is also a terrible contradiction regarding Personal Marketing in a Real Estate Agent’s career.
On one hand, personal marketing is the key to an Agent’s long term and continuously increasing success. Yet most of what Agents are taught about marketing, from the very beginning and throughout their career, does not work or does not work very well.
It is true that a Real Estate transaction is often the largest financial transaction of a person’s life. So, it is critical for them to find a Real Estate Agent in whom they have the maximum confidence. Personal Marketing is the Agent’s best way to be that Agent for the largest number of people.
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Are You Selling, or Being Sold?
People have gotten, and will continue to get, into real estate for a number of reasons. Many don't want to be held to a schedule. Lots don't want to be told what to do. Some say they want to help people. And, of course, there's the potential for all that money.
And while many other sales jobs, like pharmaceutical sales and investment brokeraging have extensive audition processess and sales training to get, and keep, your job, the real estate industry only has a laws and definitions course to get your license. There is no standard sales training or coaching; it's all voluntary.
Now, some brokerages offer in-house sales training/coaching, and some of it is actually quite good if you stick with it, which most agents do not. And, many brokerages simply do not have proper sales training.
The result of this is roughly an average of about 4-6 homes sold per agent, per year . That means the average agent is selling a house only every 60-90 days.
There are a few reasons for this. One reason, as I mentioned above, is the lack of good, quality here's-where-and-how-to-find-the-business-and-here's-what-to-say-and-how-to-say-it-when-you-do-find-the-business coaching/training.
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You have not selected any of the above reports.
Your Very Own Lead Success Management System
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How Do You Manage Your Lead Management System?
Lead Management is one of the systems that are the basis of every successful career in Real Estate. Specifically Lead Management is the system that holds the greatest potential to immediately & dramatically increase your results.
Regardless of your style, your strengths, your market or anything else all highly successful Agents must generate enough leads to achieve their goals.
Once these leads are generated, every agent (you included) must make contact with these leads.
As you contact these leads by phone, e-mail or in person, you must have the scripts, the skills & approach to convert these leads to appointments, then to saleable listings or motivated, urgent buyers.
Finally, every highly successful agent must have a system for retaining and prompting yourself to stay in touch with the leads that do not convert immediately.
These four elements comprise the four elements of a successful lead Management System. In summary they are:
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Your ability to generate leads
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Your habit and discipline at contacting the leads you generate
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Your skill at qualifying and converting the leads into quality appointments
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Your system for retaining contact with the leads for as long as you choose
The Losing Routine of the Majority
Most Agents record and call some of the leads that come at them. They may follow up and retain some or most of those leads, some or most of the time. What I’m saying here is that a lot of the leads that are generated may not be contacted at all or not followed up on after an initial contact.
This is very limiting and detrimental to your business because it is when you are the busiest that you have the most leads coming to you. That is the exact time Agents are most careless with their leads. Then, when the market slows down many of the leads, if they had been followed up are lost or left dormant for too long to be valuable. This creates the highs and lows that make many Agents feel insecure about their Real Estate careers. This losing routine is unnecessary.
Strength at all four elements of your Lead Management System eliminates this losing routine and replaces it with an endless stream of leads that evolve into salable listings and motivated buyers. Here’s how to strengthen each of the elements. Look for our articles on each of these systems.
Lead Generation
Most that follow my systems generate enough leads to increase their production by fifty to a hundred percent. Most increase their production by these margins in the first six months of our work with them simply by improving their lead management habits, skills, and systems.
For those Agents who want to increase their number of leads the fastest and easiest ways are through ad calls, sign calls, web leads and open houses. These sources generate mostly buyers. To generate listing leads, farming, personal networking and referrals work well.
Lead Contact
This is simple and extremely effective. Put an hour a day in your calendar at least three days a week to contact the leads that already come your way. Use this same time to organize your lead retention system described below. So, no lead gets lost just slipping through the cracks of carelessness.
Lead Conversion
Understand this first. Lead conversion means getting an appointment to sit down with the buyer or seller for a presentation in which, if you want to work with them, they engage you as their Agent; converting the lead into an appointment. This is the one part of your Lead Management system that requires you to learn specific language and skills.
Lead Retention
This is your contact management system. It has two parts. One is your database in alphabetical order of all your leads. The other is your method of prompting you to make the next call to each particular lead.
Watch for other articles on each of these elements of your Lead Management System. In addition watch for articles on how to create and present those buyer and seller presentations that are the goal of your Lead Conversion.
Oh, you don’t have a Lead Management System? I can tell an agent’s income by how they employ their contact management system!
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Chances are you do have everything that it takes to succeed. Most likely you do have knowledge and the experience and the expertise that would make you successful. However, you probably also have some doubts and self limiting beliefs.
The purpose of this article is to empower you and to strengthen your confidence in yourself so that when you ask yourself the question, “Do I have what it takes to succeed?” You will end up with a resounding yes.
A Tip: Write a list of the qualities that make you an outstanding real estate professional. Most don’t realize how good they are. For example you probably don’t realize that you have a unique set of characteristics that make you the ideal agent for your clients.
If you are a people person and you focus on educating your clients, and you are detail oriented, that’s a great package. In addition to that if you have an abundance of patience to offer then you’re combining qualities that many people don’t have.
So take a look at what you really do when you service your clients. Do you find a way to make their real estate experience comfortable for them? And what qualities help you to do that? Is it that you love to be of service? Is that you love to be a problem solver? Do you have an eye for details? Do you love to educate?
Each of has something that makes us feel passionate about what we do. If we focus on that, we will feel highly confident of our ability to be an outstanding real estate professional.
Another Idea: The one thing that stops most people from believing that they have the ability to succeed is self limiting beliefs. And these self limiting beliefs could have been with you for decades.
For example, some have a fear of picking up the phone and offering their services. Some believe that if they call people they would be bothering them. Some believe that people don’t want to hear from them. They believe that they might be seen as pushy, and believe that they might be seen as a salesperson. Consequently, they don’t make the calls and consequently their business suffers.
Now I don’t mean cold call or farming cold. I mean past clients, referrals and people you hear about who need real estate help. I truly believe that I help people, my clients know that I can help them and I feel really good when I can help . Because I believe that, I am not afraid to speak with them.
Our thoughts create our reality. If you call people with the expectation that they will be happy to hear from you, then you will create that as your reality.
To summarize: Create the confidence you have in yourself, know that you have what it takes to succeed.
1. Know your inner and outer resources.
2. Know those unique qualities that make you an outstanding real estate professional.
3. Be sure to discover and reprogram you limiting beliefs. One of the real strengths of the training and coaching at Envelope Real Estate Brokerage is you already know how to write up an offer to purchase, or write up a listing or drive around and show homes. What you may have is lack of confidence, the good training and a lack of a great buyer & seller presentation, or follow up plans. Perhaps the single most important thing you can do for yourself is to change your thoughts and your belief system.
Real estate is exciting and demanding and fun and financially rewarding, learn the how and the why, you will be fine!
Once you’re comfortable picking up the phone and making calls the sky is in the limit in any economy.
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