Generate Real Estate Leads
How do most real estate agents generate real estate leads? Let's discuss where to begin and how to get leads to grow your real estate business.
Generating your first lead in real estate can be one of the most daunting tasks, but it's one of the first things you should consider after getting your license. If you are wondering where to begin, how to go about it, and the best neighborhoods to "farm," this guide is for you.
Growing your real estate sphere tends to be slow, but once you get your first lead, many more are sure to follow. The core of any successful real estate agent is learning how to drive and repeat business. Whether you find strategies to generate leads or use a service to buy leads, you must find what works best for you and stick with it. So let's get into the different ways you can generate leads.
Here are 15 ways to get leads as a real estate agent!
1. Build an online presence
When you work in the business of real estate, it's essential to have an excellent online presence. Nowadays, with the internet and social media being so popular, many people are looking solely online for real estate agents and potential properties. With that being said, having an engaging online presence can make you stand out from your competition. When networking, be sure to leave people with a long-lasting impression of who you are as a person, not just an agent. You can use different platforms: Instagram, Twitter, Facebook, and more!
2. Work your sphere
Your sphere of influence is essentially all of the people that you know. That includes family, friends, colleagues, neighbors, teachers, and old friends. Anyone you've ever met or talked to should be included in your sphere of influence. Generating leads from your sphere has proven to be very beneficial. Not only can you generate leads from your connections, but you're also introduced to the connections of your sphere.
It would help if you reached out regularly to generate leads through your sphere of influence. You must ensure they never forget that you're a real estate agent. Calls, texts, and emails are great ways to keep in contact. Remember not to be too pushy, but don't be afraid, either! Your sphere of influence will serve a significant role in your potential leads and the growth of your business. While it may be a slow start, you will see a payoff in the long run.
3. "Farming"
"Farming" refers to focusing on a particular neighborhood or area and putting all your efforts into increasing your name recognition in that area. If you make yourself known to a whole area, there's a better chance they will consider you above anyone else for all their real estate-related needs. Farming can sometimes be difficult for new agents because you never know if there is already an agent in the area, but it never hurts to put yourself out there! Farming can include sending postcards, leaving door hangers, cold calling, automated email campaigns, and door knocking.
4. Find your niche
As a newer agent, finding your place and sticking to it is essential. At the start of your career, focusing on a specific market or group is more accessible than trying to appeal to a large group and network of people. Without a particular niche, you will compete with everyone, including agents who have been in the business for years and have a wide sphere of influence. You cannot be everything to everyone, so you must focus on what works for you and the appropriate target market to grow your sphere.
5. Host an open house
If you are the listing agent on a property, host an open house! Or, if you're allowed to host an open house on behalf of another agent, take it! Hosting an open house is beneficial for many reasons, especially during a hot market when buyers are constantly touring homes to find their perfect fit. When homes are open to the public, buyers can tour the house without an appointment and without having an agent. This is the ideal opportunity for agents to meet unrepresented buyers with the hopes that they are in the market for an agent. It's essential to actively engage with all visitors and make them feel welcome because you never know who could be a potential client!
You can find opportunities to host open houses by asking other agents in your sphere, local real estate pages, and contacting the listing agents on properties.
6. Networking
One of the most important things you can do in real estate is network! Not only does networking get your name out there, but it allows you to meet other agents in the area. Networking can include volunteering, talking to neighbors, attending local events, joining associations, calling or emailing prospective clients, and so much more!
If you're unsure where to start, reach out to your local Chamber of Commerce. They will often host networking and informational conferences for real estate agents in the area. Making a good impression on someone ensures that you're the first person to come to mind when they're in the market for a real estate agent. When networking, it's essential to focus on growing your business, but you can also have fun!
7. Subscribe to a service
While there are many free options and ways to generate leads, services can also help you with the process. Real estate lead generation services connect agents to ready, willing, and able buyers or sellers for a fee. These leads can come in the form of text or email, one at a time or multiple. Some of the best lead-generating services are:
- Market Leader: Provides a guaranteed number of leads every month
- BoldLeads: Offers a great customer relationship manager (CRM) and many useful tools
- REDX: Best for motivated agents who don't mind calling prospects first
- Revaluate: Offers some of the highest conversion rates
- BoomTown: One of the best CRMs for large teams, brokerages, and enterprise-level clients
- StreetText: Generates real estate leads by placing targeted Facebook ads on your behalf
8. Build a website
Building a real estate website is essential when generating leads. Your website is one of the first impressions potential clients get of who you are as an agent. Your website is the chance for you to connect with clients, provide beneficial information, and provide value. Building a website also allows potential clients to get data on your properties, including photos and pertinent information.
Your website shouldn't just be about yourself and the services you offer. Take the opportunity to educate clients by posting blogs, answering questions, and presenting information that will help clients through buying or selling. Having a website is also an excellent idea for those clients who do not have social media, that way, they can still find you and contact you regarding your services!
9. Search engine optimization
Most people turn to search engines to answer all their real estate-related questions in this current era. A good search engine optimization strategy can significantly increase your chances of being noticed by potential clients. This is not one of the easiest ways to generate new leads; it takes consistent time and effort. However, over time, search engine optimization is highly effective and will bring you, new clients.
10. Advertise on social media
Advertising is sort of like virtual farming. Providing engaging and informational content to your followers and potential clients is a sure way to get your name out there and be recognizable in the real estate industry. Advertising can be in the form of paid content or free content that you create on your own.
Social media platforms like Facebook and Instagram are great ways to drive people to your website. Posting ads that promote yourself, your business, your upcoming events, and more on well-known and used platforms can help you generate leads and grow your business. With the rise of generative AI tools, posting content on social media is easier than ever.
Generate leads using these platforms:
- Meetup
- Quora
- Slack
By investing a small amount of money, you can run social media ads and see a great return on your investment. Facebook and Instagram are both great places to run these ads. You can set ads to target a specific audience and drive them to your website or social media page.
11. Email campaigns
Email marketing is a quick and easy way to stay in touch with your sphere of influence while staying at the forefront of their minds. You can send an email to your entire sphere of influence discussing the current housing market, real estate trends, frequently asked questions, your available listings, the services you offer, and anything you feel is worth discussing. Sending out blast email campaigns will drive more people to your website, generating more leads.
12. Phone calls
Phone calls are also a great way to stay in touch with your sphere of influence. In real estate, calling is referred to as "cold-calling." Cold calling is an effective way to reach out to friends and family and reconnect with previous leads that might have fallen through for whatever reason. While most people prefer to text or email, phone calls are quick, easy, effective, and personable. If you're someone who isn't so great at talking on the phone, there are many real estate scripts you can follow. Fellow agents recommend making at least five phone calls daily to generate leads.
13. FSBO listings
FSBO is short for For Sale By Owner. Most of the time, some property owners choose to list their homes without using a real estate agent to avoid the cost. However, homeowners often quickly realize how complex and tedious the home-selling process is. For sale by owner, properties can sit on the market for ages; luckily, you can attempt to swoop them up. When you see a property that's been on the market for a while and is listed by the owner, you can take the opportunity to reach out to them and see how you can help. Most owners are quick to elicit the help of an agent after sitting with their property for a while. This is a great way to gain clients and increase your sphere of influence.
14. Ask for referrals
Referrals are crucial in the real estate business; never be afraid to ask! While referrals may be hard to come by, they can be one of the easiest ways to grow your sphere. Referrals can come from previous clients, your sphere of influence (friends, family, colleagues), other agents who are not in the area, and more! When asking for referrals, make sure to be polite and respectful. It's also an excellent habit to mail a thank you note to anyone who sends someone your way.
15. Contact expired listings
When you come across an expired listing, it's clear that something in the process didn't go according to plan. Whether it was an FSBO, a homeowner working with an agent, for rent by an owner, etc., take the opportunity to reach out and see how you can help. You can find expired listings on your local MLS, lead generation services, or third-party websites like Craigslist and eBay. When reaching out to the owners of expired listings, you must sell yourself and discuss the different ways you can help them achieve their goals.
Final Thoughts
When starting your career, real estate leads can be hard to come by and may seem like a slow process. Generating leads is not always quick and easy, but you will soon see an effect with the right motivation and strategy.
While attempting to grow your sphere and generate leads, staying authentic is essential. People are quick to realize when someone isn't being genuine, so be yourself, be respectful, and be impactful. Learning the best ways to generate leads in real estate can be highly beneficial, so give a few of these options a try and watch your sphere of influence and business grow!
Make sure to contact us today at Raleigh Realty for any of your real estate-related questions!