How to Lead Generate in Real Estate

Espresso Agent > Blog > Expired Listings > How to Lead Generate in Real Estate
How to lead generate in real estate

How to lead generate in real estate

The cornerstone to a successful career in our industry is learning how to lead generate in real estate.  New agents, in particular, are always looking for the best ways to generate leads in real estate.

In this blog post, we’re going to take a deep dive into how to generate real estate leads, covering the following areas:

  • Define realtor leads.
  • Discuss how to prospect seller leads.
  • Review a variety of realtor lead generation ideas.
  • Cover real estate lead generation tips to help you maximize your prospecting efforts.

WHAT IS A REALTOR’S LEAD?

A realtor lead, in the context of real estate, refers to a potential client or customer who has shown interest in buying, selling, or renting a property. Leads are individuals who have expressed interest in real estate services and have provided their contact information, usually through various channels like online forms, phone calls, emails, or in-person interactions.

How to lead generate in real estate

Generating and managing leads is crucial for a new real estate agent to build a successful business. Leads are the starting point of potential transactions and represent opportunities to help individuals achieve their real estate goals. Here’s a breakdown of the lead generation process:

  1. Lead Generation: This is the process of attracting potential clients. Leads can come from various sources, such as online marketing efforts (website, social media, online ads), referrals from past clients or colleagues, open houses, and networking events.
  2. Contact Information: Once a lead expresses interest, they provide their contact information, such as their name, phone number, email address, and sometimes additional details about their real estate needs and preferences.
  3. Lead Management: Managing leads effectively is crucial. New real estate agents often use customer relationship management (CRM) software to organize and track leads. This helps agents stay organized, follow up at appropriate times, and provide a personalized experience for each lead.
  4. Lead Qualification: Not all leads are equally promising. Some might be ready to make a transaction soon, while others might still be in the early stages of their real estate journey. Agents often qualify leads by assessing their level of interest, a timeline for making a decision, and financial readiness.
  5. Nurturing: Maintaining consistent communication to build a relationship and establish trust. Agents provide relevant information, answer questions, and offer valuable local real estate market insights.
  6. Conversion: The ultimate goal of lead management is to convert leads into actual clients. This might involve helping a buyer find their dream home, assisting a seller in listing their property or guiding clients through the rental process.

Remember, effective lead management requires patience and persistence. Not all leads will convert into clients immediately; some may take months or even longer to decide. The key is to provide exceptional customer service, be responsive, and offer valuable insights to position yourself as a trusted advisor in the real estate journey of your leads.

For newer real estate agents, your ability to generate, nurture, and convert leads will significantly impact your success in the industry. Over time, you’ll refine your lead generation strategies and develop a deep understanding of your local market and the needs of potential clients.

How to lead generate in real estate

PROSPECTING SELLER LEADS

In the section below, we will review a number of real estate lead-generation ideas. All are valid ways to build a client base. However, when it comes to driving maximum revenue, our industry’s top performers focus on prospecting seller leads. These revenue leaders have realized that a proactive approach to prospecting seller leads is the easiest way to drive GCI with much less effort than servicing the home-searching needs of buyers. And, if you use Espresso Agent’s industry-leading seller leads, you will be much farther along the journey to success than your competitors.

Many of the industry’s top agents build their real estate prospecting strategy around a combination of the following:

Expired listings are those homeowners who have tried, and failed, to sell their property in a contracted amount of time. There are myriad reasons for a listing to expire:

  • The property may not have been appropriately priced
  • The previous real estate agent did a poor job of marketing the property.
  • The homeowner withdrew the property because of changes in their life situation.

Regardless of the reason, top producers know that expired listing leads were, at some point, fully engaged and motivated to sell. As such, expired listings represent an immediate revenue opportunity for any real estate agent.

FSBO leads. For Sale by Owner properties represent opportunity — nationwide, 9 of 10 FSBOs need to sell independently. FSBO homeowners are motivated by their bottom line.

In robust markets, if a FSBO homeowner does not have an offer in hand in two weeks, many become realistic about needing a professional’s help. Nearly 70% of FSBO homeowners re-list their property with a listing agent within four weeks.

How to lead generate in real estate

FRBO (For rent by owner) leads. Real estate investor lead generation plays an important role in the portfolio of many top agents. High producers always have a number of investors they work with. Investors buy several homes and sell off those they no longer want. Having a few investors in your pipeline is a great sphere strategy for any agent.  Investors are always considering when to cash out and looking to identify properties that meet their specific criteria.

 

Pre-foreclosure leads represent another often-overlooked source of income for agents. These are homeowners who, for any number of reasons, are in danger of losing their home and may be interested in selling quickly.

How to lead generate in real estate

Real estate farming (otherwise known as Circle Prospecting) gives agents the ability to become a neighborhood expert in their MLS. Espresso’s Real Estate Farming data allows agents to hone in on areas surrounding their “just listed” or “just sold” properties.

We believe that prospecting seller leads is the best strategy for success. But here are a few other strategies and considerations to round out your prospecting business model.

ADDITIONAL REALTOR LEAD GENERATION IDEAS

Generating real estate leads requires a strategic approach to identifying potential clients interested in buying, selling, or renting properties. In the section above, we outlined those proactive strategies that most top-producing agents employ.

But whether or not you choose to be a seller’s agent, some basics still need to be a part of your overall business strategy. Here are ten real estate lead generation ideas that can help you attract potential clients and grow your business:

 

  1. Create a Professional Website: One of the best ways to generate real estate leads online is to build a user-friendly, visually appealing website showcasing your listings, services, and expertise. Include easy-to-fill contact forms for visitors to reach out to you.
  2. Utilize Social Media: Establish a strong presence on platforms like Facebook, Instagram, and LinkedIn. Share high-quality images, videos, and informative content related to the real estate market.
  3. Produce Engaging Content: If you want to know how to get leads in real estate online, start with great content. You could launch a blog or create videos addressing common questions and concerns of homebuyers and sellers. This establishes you as an authority in the field and attracts organic traffic to your website.
  4. Offer Free Resources: Develop valuable resources such as e-books, guides, or checklists for potential buyers and sellers. Require an email address for download, enabling you to capture leads.
  5. Host Webinars or Workshops: Organize online seminars or workshops on topics like first-time home buying, real estate investment, or market trends. Promote these events through social media and your website.
  6. Leverage Email Marketing: Build an email list and send regular newsletters with updates on the real estate market, new listings, and helpful tips. Keep your audience engaged and informed.
  7. Partner with Local Businesses: Collaborate with local businesses like moving companies, interior designers, or mortgage brokers. Cross-promote each other’s services to expand your reach.How to lead generate in real estate
  8. Networking Events: Attend local events, conferences, and community gatherings to meet potential clients and establish connections with other professionals.
  9. Virtual Tours and Videos: Another great way to generate real estate leads online is to create virtual tours of your properties to give potential buyers an immersive experience. Utilize video content to showcase your expertise, client testimonials, and market insights.
  10. Online Advertising: Use platforms like Google Ads and social media advertising to target specific demographics and geographic areas. Customize your ads to attract buyers and sellers looking for properties in your market.

Remember that consistency is key regarding how to lead generate in real estate. Continuously measure the effectiveness of each strategy and adjust your approach based on the results. Additionally, focusing on providing value and building genuine relationships with your leads will contribute to your long-term success in the real estate industry.

How to lead generate in real estate

REAL ESTATE LEAD GENERATION TIPS

The discussion above dealt with the practical aspects of how to lead generate in real estate.

An equally important element to success in real estate is the mental part of the game. To put the practical aspects to good use, a real estate agent must learn to be disciplined and stay focused.

To that end, here are a few closing tips on how to stay focused to maximize your lead generation efforts:

  • Get a good night’s sleep: The science is clear: deep, restful sleep strengthens your immune system, improves your memory, keeps your weight off, and your mind clear. A study published by the University of Arizona College of Medicine reveals that people who sleep 7-8 hours a night are as much as 29% more productive than those who sleep five hours or less.
  • De-clutter: Try to keep your work area uncluttered. Studies show that clutter restricts your brain’s capacity to process information and focus. In fact, some studies suggest that the average person wastes up to 4.3 hours per week looking for lost papers or important documents.
  • Be committed: Real estate lead generation success requires a commitment to active, daily prospecting. If you’re having trouble staying focused, maybe it’s time to revisit your commitment to what’s important to your business.
  • Make lead generation time a priority: If you commit to prospecting, ensure nothing can disrupt your prospecting schedule. Everyone should know when you’re in your prospecting zone. Turn off your phone when it’s time to fire up Espresso Agent. No interruptions allowed!!
  • Invest in your success: If you’re already using Espresso Agent, you can skip this tip. But if you’re only using Espresso Agent occasionally or don’t have a proven CRM like Espresso, you’re missing an opportunity to transform your business and bank account. Espresso Agent is designed to maximize your prospecting efforts with the best leads in the business. Learn more about our pricing HERE.
  • Work your to-do list: Prioritize your daily tasks, and assign a specific amount of time to complete each. Discipline yourself to focus on tasks most likely to help you achieve your business goals. The great thing about staying on top of your to-do list is that checking off projects is a reward and can stimulate greater productivity.
  • Get in a workout: Exercise improves concentration, motivation, memory, and mood. A good workout raises your brain’s dopamine levels, improving both focus and attention. A study by the Emerald Insight group reveals that exercising during workdays has been found to boost one’s time management skills by as much as 72%!
  • Don’t be a perfectionist: The World Health Organization recently reported a marked increase in perfectionism among younger adults. This is unsurprising as we live in a hyper-competitive time, which is often exasperated by social media, which can easily exaggerate others’ accomplishments. Regarding real estate lead generation, don’t get discouraged or overwhelmed if you fall short of your objectives. It happens. Focus on enjoying small victories each day, and build from there. Remember that failure and frustration are important to your journey to success.

For additional tips on how to generate real estate leads, check out this episode of Morning Brew hosted by Noel LaFerme and featuring Emily Terrell.

https://www.espressoagent.com/blog/episode/why-you-should-lead-generate-in-real-estate-daily/

 

Doug Spak joined Espresso Agent as a Content Marketing Specialist in 2016. Doug brings nearly four decades of experience as a copywriter, blogger, and screenwriter to his role with Espresso. Since joining our team, Doug has actively updated website content, published more than 300 blogs, and created countless social media posts.

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Espresso Agent > Blog > Expired Listings > How to Lead Generate in Real Estate

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