Of these 28 lead-generation tactics, each can be effective on its own – but when intelligently used together can be very beneficial
Kevin Lynch
Other
In the course of my work as a real estate skills trainer, I have identified 28 proactive lead-generation tactics that are both direct and indirect strategies. Any one can be effective on its own – but when they are intelligently used together, the benefits can be massive. You can use these tactics to not only capture more listing and buyer leads but also to improve your positioning and brand.
The following are the first nine in my collection of 28 lead-generation tactics.
1. Circle of Influence
The reason this is the first on your list is because it’s the most obvious. It’s also one of the most underused assets Realtors have: your circle of influence (friends, family, network, sports teams, etc) are people that already know and feel comfortable with you. This is where the smart agents go to first. If you are starting out, it’s the quickest way to get sales. Don’t make the mistake of overlooking those closest to you.
2. Expired Listings
These people have already indicated they want to move and are therefore prime prospects. The key to expired listings is either being very early and closing before everyone else calls or being a little late and coming from a different angle, followed by a consistent follow-up system. I have tested and had success with both. Make sure you have well rehearsed and thought-out scripts (if you need some you can always reach out to me).
3. Private Home Sellers
These are clients that most agents shy away from after a couple attempts and when they realize it is rare to get a warm and fuzzy reception. Many private home sellers want to avoid paying commission, don’t like agents, think they are smarter or better, don’t trust agents and/or could have many other reasons why they don’t want to list with an agent.
From my experience, the biggest objection is about the commission. Make sure you speak to how you can actually help them increase their net profits along with their actual likelihood of selling. One thing they don’t usually know is the statistics showing a high percentage of all the court cases and people being sued in real estate come through the private sales sector – even though they represent a tiny fraction of actual sales in the market.
4. Just Sold Homes and Properties
You can take advantage of recently sold homes by calling an area around a home that has just sold or that you have just personally sold. In general, three more properties will come up for sale within roughly 100 homes around a sale. That means more business for you, should you create a systematic process for calling.
5. Just Listed Homes
When you list a home or there is a new listing in an area you want to sell in and generate business in, you can call about the home down the street from theirs. People are usually interested or at least curious about what other homes are being sold for. This can be a very easy in.
6. Past Clients
These are people that have already done business with you. If you did a good job, they are people that will likely work with you again. The key value here is to stay in touch in a meaningful and consistent manner so you can generate good referrals from their friends and family connections. When you get their referrals, treat them like gold. And find great ways to say thank you.
7. Allied Resources
This is powerful way to capture a massive flow of incoming referrals. Find reputable service providers that can help your clients and structure an agreement with them where you will send them business and they, in return, must send you at least one or two referrals from their clients and network every month.
8. Geographic Farm Area
People who hear about this strategy think it has to be expensive. They are wrong. There are two basic farm strategies. The first is what I call 101 Farming and it’s where you simply send out at least 12 newsletters to your target geographical area every year. The second is more time consuming and entails you connecting with your community through every means you can imagine. Good farming can help you capture anywhere from 25 per cent to 60 per cent of the market share.
9. Door to Door
If you shine at face-to-face meetings, this can be a great way to build your database and generate new business. However, don’t be fooled into thinking that having a friendly conversation alone is valuable. Focus must be on creating rapport with the prospect and then learning about the opportunity by asking questions. Your focus should be on finding an immediate business opportunity, adding them to your database and getting their email and cell phone numbers, and finally, getting additional potential business through their network and referrals.
10. Builders
Builders can be an amazing way to generate more sales. Just one good builder relationship could generate a massive level of sales and new listings. Learn your numbers for land and building costs and then when, you can speak their language and understand what represents good value, you will be able to have conversations that matter. Next, learn what they want and help them find it. The more work you can eliminate for them the better.
11. Client Parties
Events for clients give you a way to say thank you and generate more repeat business along with referrals. Spoil your clients, treat them right, give them what they want and referral business will fall on your lap. At your parties, make sure you have an invitation arrangement where your connections are also given the option to help you expand your network into their own. Be creative.
12. Networking
If done right, networking can be a powerful business development tool. It can also be a big time eater. For instance, just joining a group of people networking to do business is fine, but if there is no pre-determined strategy to help you get more referrals then you need to create one. Whenever you are working with other business professionals, see how you add value to their business first. Only then should you table what you want.
13. Social Functions and Community Events
Community events are a good way to get out there at a very low cost. You can basically piggy back on other business and people’s events and quickly go where your target audience is already going to be. If you connect with the event coordinators with some ideas that will make the event ‘even better’ they make be willing to promote you, showcase you, let you market and engage their audience. What could you do that would blow them away?
14. Booth at Events
This is similar to #13, but it may be in a more formal format. Any time you are in front of your audience, you need to have your value proposition, your elevator pitch and some great take-away material or ideas that will keep you in their minds and make them want to work with you.
15. Teaching and Speaking Opportunities
It is very powerful to entertain or engage a captive audience from a perceived recommendation. You look like an authority, expert or specialist in the prospect’s eyes and that is always a powerful position to come from.
16. Listing Tools
Listing tools are things that expand your marketing reach and attraction from your listings. They should be solutions that create traffic and more importantly new leads from people looking to buy and sell. These tools should also allow you to measure the interest level, number of visitors and the sources they are visiting from all while strengthening your brand.
Some tools could be text response systems, voice response systems, SEO for listings, IDX listing systems, online marketing platforms (for Google adwords, Yahoo adwords, Facebook adwords, social media like Twitter, Google+, picture and social websites, etc.).
17. Signage and Sign Riders
Signs are all too often not used to full capacity. Most are traditional, boring statements like Just Listed, SOLD and otherwise low-impact and low-interest messages. You can make signs work much harder for you to generate new business.
Suggestions for using signs to generate leads include posting your specialization and value to the prospect, such as “Upper Lonsdale Expert.”
Even better, send your prospects to a website landing page or phone number that gives a valuable free service such as:
- “Find Out What Your Home Is Worth at LonsdaleHomeValues.com”
- “FREE Over The Phone Home Valuation”
- “VIP Buyer Priority Access: View this and other homes first at PriorityHomeAccess.com” or
- “Toll-Free Voice Message at 1-888-275-8888 for complete property details”.
18. Phone-In Voice-Activated Lead Capture Systems
These tools can be very powerful systems because they fly under the radar. People are not really thinking if their phone numbers are being tracked or not. That’s why if the property, sign or advertisements are interesting, they will call to hear the details about the property. When that happens, you can call from a ‘helpful’ position asking if they need any more help. There are some amazing scripts and sample marketing that go hand in hand with this system.
If you use the system as intended and as directed it will likely be a very valuable tool.
© 2014 Real Estate Weekly
