Leads, leads, leads – keep your real estate business pipeline stacked with leads, and watch your business grow!
There are a number of different ways you can lead generate and prospect for new business. A number of these methods have been listed below. The first and foremost important aspect of lead generation for your business as you get started in real estate should be to set aside time for this each and every day. It should be the foundation of your business, and nothing else should take priority during this time. From there, focus on the methods of lead generation that you would like to master.
Your Database & Sphere of Influence
The people in your sphere of influence should know you best, and they will be your biggest advocates as you begin and grow your career in real estate. Reach out to them frequently and always be sure you have their most current contact information. As your database grows, so should your referrals! Don’t forget to ask at the end of each conversation who that person may know (if not themselves) who is interested in buying, selling, or investing in real estate.
Other Methods of Lead Generation
When beginning your career as a new agent, it can be difficult to focus on one thing since there are many aspects of starting and growing your business. However, when it comes to lead generation, selecting two or three methods (in addition to working your database) will help keep you focused, and with constant follow-up and practice it will help you master that particular technique. Here are some of the more common methods of lead generation:
- FSBO’s – “For Sale By Owner,” these are people who you know WANT to sell their home, and do NOT have an agent.
- Expired Listings – Homes that were previously listed for sale but did not sell; the reasons for which could include inappropriately priced, insufficient marketing, or poor overall general condition.
- Allied Resources – Business professionals that you network or do business with.
- Door-to-Door – Spending time door-knocking to introduce yourself as the area expect, providing local market data upon request and offering assistance for homeowners’ real estate needs.
- Open Houses – Holding an open house to meet new prospective clients who are searching for a home.
- Seminars – Host a home buying or selling seminar or workshop for the general public.
- Community Events – Sponsor, volunteer, or participate in local community events to meet new people who are active either in the community or with a particular organization or group.
- Farming – Prospecting a certain area, defined by either geographic, demographic, or property type criteria.
- Social Functions – Attend to meet new people, develop and build a connection, and add them to your database.
Whichever method of lead generation you use, keep in mind that you have to stick with it, and develop a schedule and/or strategy to follow-up with people. Check with your broker or mentor to find out what resources are available to you to facilitate whichever method of lead generation you choose (ie: scripts, dialogues, sample videos, etc.). It won’t happen overnight, but with time, you will begin to see results from your dedication and hard work!