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Building Your Real Estate Business


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Lead Generating for Business

When you are starting new in this business or re-launching your Real Estate business, start with no more than three lead generation methods. You can check out our video on the 3-Legged Stool of Prospecting for more information on this topic.

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Methods of Prospecting and Lead Generation

In the videos below, we offer a few specific forms of prospecting and lead generation that you can implement right away!

Sphere of Influence

Sphere of Influence is a term Real Estate professionals hear often. Your sphere of influence consists of the people who know you, love you, and trust you. If you called them on the phone, they would know who you are by first name.

This is by far the # 1 highest return on investment of time and marketing dollars. Make your sphere of influence a priority in your business for long term success. Find out what your sphere of influence can mean to your business by watching the video below now.

For Sale By Owner

For Sale by Owner (FSBO) properties are a great resource for potential Real Estate leads. Many of these homeowners “test” the market in order to avoid paying commission, and then they end up hiring an agent anyway. The Real Estate agent they hire is often the one they feel will represent them best, and the one with whom they have the best connection. Therefore, working with FSBO’s is like a dating process.

One way to get more FSBO leads is to use “Bird Dogs” to help you find additional homeowners to call. Remember, these homeowners will be moving out of their homes and into new ones, so you may be able to help them find their new home too. Watch the video below for more information on the dating process and “Bird Dogs”.

Expired Listings

Expired listings are another great source of listing leads. These people were listed before and for some reason, the property didn’t sell.

Many of these people would still like to sell their property. Many know EXACTLY why it didn’t sell the last time it was listed. Your job is to find out why it didn’t sell and solve that problem. Also, many of them will re-list pretty quickly, so this is a speed dating process. Watch the video below for more details on speed dating.

Internet and Social Media

Internet and social media is a vast topic. This type of prospecting is anything from Blogging, Facebook, and Google+, to Linked-in, and then to Google Adwords, your website, and the list goes on and on and on………

The fact is you CAN drive leads through the internet. I must caution you that a good conversion rate for internet leads is 3-5%. The prospect leads generated on the internet typically are further out on the long tail curve for the buying cycle.

I’m not saying stay away from internet lead generating. Just prepare yourself for the outcome. There are definitely methods you can implement to get maximum return on your efforts. Talk to us now about coaching you to success.

Want to know more about the long tail curve and why it is important in your business? Watch the video below to find out!

Networking

Networking brings lead generation and can be done through meetings at your local Chamber of Commerce, attending your kids’ baseball games, or volunteering at events. You can join a Rotary Club or BNI group, or join Meetup.com. Pick a few that interest you and dive in!

The key to any prospecting is the follow up. There is a proper way to go about the meet and the follow up. If it is a business professional, set a time to learn more about their business and add them to your vendor list.  As Real Estate agents, we get some crazy requests for referrals from clients! They assume, and rightly so, that we are well connected.

Go ahead and watch the video below for more ideas on prospecting and follow up.

Open Houses and Farming

Open houses and farming are two different topics for lead generation that we are combining here. It is a great idea to “farm” around your upcoming open house. We have a perfect script for this activity.

What is farming as it relates to Real Estate? Farming is the process of making contact with the people in your target neighborhood, and letting them know you are the Real Estate agent of choice when they have a Real Estate need. (If you come into coaching, we will help you determine the right farm area for you.) As with a real farm, you must plant seeds and consistently water them for the seeds to bear fruit. Communicating with your farm at least one time per month is ideal.

Your upcoming Open House is a great reason to talk to your farm. Of course, you want to host an open house in that farm, but it is okay even if the open house is a few neighborhoods away. For more information on Open Houses and Farming, be sure to watch the video below.

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