Where To Find Real Estate Leads For Agents
Where are the real estate leads for Realtors today?
The American property market appears to be thriving again. Yet, even though sales volumes may go up, and there are some 160 million millennials and boomers on the move, real estate agents can still find getting real estate leads challenging. What best practices, lead sources, and methods can help score more deals today?
The Challenges of Finding Real Estate Leads for Realtors
Around 5 million homes change hands in America each year. At least in good years. However, there are at least 1 million Realtors in the country too. There can be twice that many, or more, when times are good, and it appears attractive to get into real estate. Then there are the agents who are not officially ‘Realtors’. Plus, there are other competitors such as funds, individual investors, and a growing number of tech platforms.
These factors and figures can make it seem like there are not a lot of deals to go around. Yet, the top performers will always be responsible for the vast majority of the business done, while the vast majority do few if any deals each year. It doesn’t have to be a roadblock or hurdle, if you know what to do, how to do it, and have good sources.
Lead Generation: 4 Things to Think About
Mastering real estate lead generation isn’t just about having the right sources and sweet marketing pieces. It’s also about how you set yourself up to master volume, conversions, lead management, and reducing friction in the field. These four factors will help you become a champion when it comes to maximizing your potential in all these areas.
- Time Blocking
Your success, and level of success is directly connected to the number of new leads coming in each day. If you want a reliable income, you need to consistently produce leads. That only happens if you create a habit of consistently marketing for them. One of the best ways to excel here is to block out the first few hours of your day to focus on lead generation. Don’t check your inbox, don’t answer your phone, don’t check Facebook or voicemail, or let team members barge into your space. Get in the zone and work on lead generation first.
- Funnel Strategy
Generating high volumes of contacts and leads can be quite simple if you’ve got a good source and marketing pieces. However, that volume doesn’t always directly turn into conversions and closed deals. If you received 1,000 hot leads in the next hour, what are you going to do with them? How are you going to handle them? How are you going to filter them to work on the best, close the most, and ensure none are lost?
- Focus vs. Mix
How many different sources of leads will you work on? Having a good mix is valuable for consistent deal flow and income. Yet, being spread too thin, in too many directions is also the number one reason that many Realtors fail to do anything well, or any deals at all. They don’t focus enough on one thing long enough for it to pay off, or deliver its best ROI. Don’t fall into that trap. You can make just about anything work, if you focus. So, select a handful of channels, work them well, then expand and adjust way down the road, after you’ve mastered these.
- Win-Win Partnerships
Clear the playing field, and turn the odds in your favor by creating win-win relationships with others in the industry. Look for ways to work with investors, funds, and other agents for your mutual benefits instead of battling against them.
3 Types of Leads to Look For
- Lenders
Private lenders, seller financed note holders, banks, and funds can all be great sources of real estate leads. They often buy real estate in addition to having a pool of assets and borrowers which need help.
- Distressed Property
The distressed property boom isn’t over. The market is a lot healthier, but RealtyTrac reported that in NJ in January 2017, banked owned REOs were up over 26%, and 10% of homes in the state were vacant. Other states have similar conditions too. There is also a swelling bank of properties which are just aged, and need updating or replacing.
- Investors
Real estate investors are constantly buying and selling property. Landlords, house flippers, and real estate wholesalers can buy your inventory, and use your services to sell theirs.
7 Real Estate Marketing Methods for 2017
- Direct mail
- Craigslist
- Real estate blogs
- Networking in-person
- Sponsorships
- Affiliate marketing
