Did you know that 66% of marketers generate leads after spending only 6 hours on social media per week? This includes real estate marketers. The right strategy can create excellent leads with minimal work, but what is the right approach?
The following guide will tell you everything you need to know about real estate lead generation.
What is Lead Generation?
Lead generation is the term used to attract potential clients interested in using your services. For example, your “For Sale” sign on the front lawn of one of your listed houses is called lead generation. Likewise, the business card you handed to a potential buyer is also lead generation. In short, lead generation is why we market.
Traditional lead generation usually includes in-person methods. Such as cold-calling and door-knocking. Although these are tried and true methods, they are quite outdated.
Most consumers do not wish to receive a call from a marketing agency anymore and will quickly and rudely hang up the phone if they do. In addition, it will bring the morale of you and your team down quickly, especially if you do not generate any sales with this method.
Technology has come a long way in the last few years, especially since COVID, where many businesses rely on online sales. As a result, lead generation doesn’t have to be a struggle; you can create fun and engaging ways to interact with potential clients, leading to better sales and an overall successful business.
Outbound and Inbound Marketing
There are two major categories when it comes to lead generation. The first is outbound marketing and refers to email marketing, billboards, pay-per-click ads, TV ads, and more.
Outbound marketing is the process of reaching out to a large audience with the hopes of making a sale. Recently, inbound marketing seems to be more effective. However, there are some real benefits to outbound marketing that we should not overlook.
One of these benefits includes brand awareness. It is an effective way to build your brand and let people know that you and your company exists and what services you offer.
Think of any major company such as Apple, Facebook, or Microsoft. Even if you do not use those specific companies, you definitely know what they are and what they do. This is because, over the years, they built their brand and had the right campaigns to let people know who they are.
On the other hand, inbound marketing is less invasive and focuses on attracting and pulling people towards your agency and services. It may seem similar to outbound marketing; however, the client takes the initiative with inbound marketing.
Inbound strategies usually include SEO blogs, video content, social media marketing, and more. Since technology is quickly taking over the marketing world, these new and innovative ways of marketing are becoming a frontrunner.
Even though inbound marketing can generate excellent leads with informative and educational content, it certainly has its drawbacks. It requires constant maintenance and new content and becomes expensive in the long run as you will need to become proficient in using the tools needed or start outsourcing your marketing.
Proven Lead Generation for Real Estate
Now that we know what lead generation is and the different categories, let’s dive in deep to find the best strategies for you and your agency. Some of these strategies are free, some are paid, while others are initially free, but to do it well, you need to put in some research, study, or outsource.
If you are wondering what SEO means, it is the process of optimizing your site so that search engines such as Google and Bing can find your website.
Google uses “crawlers” that search your website for certain keywords that may be related to the consumer’s search. For example, if a potential client searches for “realtors near me,” you will want to rank at the top of the Google search.
To do this, you will need certain keywords, such as realtor, real estate, agent, the area you live in, and others that connect you to the searcher. There are keyword research tools that can assist you in finding the correct ones.
Referrals are an excellent source of free lead generation. All you have to do is maintain a good relationship with your clients.
Obviously, excellent service is the best way to generate referrals. A happy client means a better relationship. However, in this busy world, clients tend to lose your contact information or forget the name of your agency.
You can send each of your clients a small gift with a card to maintain a good relationship with them during the holiday season.
Facebook is a visual platform, much like Instagram, and effectively showcases your work. As mentioned at the beginning of this article, you can generate leads with as little as 6 hours per week on social media.
However, you need to have a good strategy. Spending 6 hours on Facebook can be extremely wasteful, as we all know by personal experience.
The best way to optimize Facebook lead generation for your agency is to use their tools to reach your optimal audience.
Targeted ads can focus on audiences that are likely to move. For example, you can add age ranges, income, ownership, zip code, and more. Objective ads, on the other hand, allow you to focus on different types of campaigns. Such as brand awareness, engagement, or lead generation.
While Facebook ads are great, they do cost money. If you are on a budget or do not have the resources to run a campaign, you can reach audiences with the right hashtags and posts. Start by posting new listings and celebrate sold properties.
You can also post testimonials, pictures of individuals, couples, or family’s finding their dream home, and much more.
Although SEO helps you rank at the top of Google, ads will certainly do the trick as well. You need to use the same strategies as with SEO and Facebook ads. Research the right keywords to target your audience, research that audience and what will draw them, and more!
Google Ads are fairly cheap, and you can set a budget as well. The pay-per-click is an excellent way to maintain your budget and avoid surprise charges.
This has been a bit more difficult with COVID. However, open houses are a great way to talk with people and let them know what you can do for them. Many of the home viewers are looking for a house without committing to making the actual step.
If you can convert them into sellers and convince them to look for their dream home, they will likely choose you as their agent.
65% of people are visual learners. So it goes without saying that a captivating video can do wonders for your lead generation.
You can create several types of videos that are great for real estate lead generation. For example, you can create a neighborhood video that showcases and highlights parks, amenities, and other great things.
Creating a virtual tour is also a great way to grab the attention of sellers, buyers, and other potential clients.
Make sure to create professional content that is fun to watch. Then, use the right tools to captivate your audience and start building your brand.
Partnerships with local businesses are one of the best ways to set yourself and your agency up for success. Let’s take our holiday gift, for example. If you partner with a local business and use their products to reach out to your clients, both you and your partnering business can generate leads.
Additionally, that particular company’s staff and team members know of your services and are likely to contact you once the time comes to sell or buy their home.
Check for listings that are listed by the owner. You can reach out to and convert them to a sale. They are great sources for cold-calling since you know that they are interested to sell their house.
However, be sure you offer them the right reasons to go with an agent. Give them unique benefits why you can offer them the right help to sell their house. Often they have done their research and feel that they can make a sale without professional help. Make sure to offer them the right services; ask them why they chose to go ahead without an agent.
Once you determine their needs, offer them services they cannot do without. Mention your network of buyers and sellers, your expertise in staging, photography, and give them pointers on how their listing can be improved.
Perhaps give them a few free tips that will convince them that you are the expert they need.
Networking is a broad term that umbrellas a host of different strategies. You can start networking by attending different community events. For example, you can sponsor a pet adoption event or participate in fundraisers such as races, dinners, and more.
Social media is also the place to start networking. Not just by ads, but start sharing content that is meaningful to your community. Stay in touch with the needs and wants of your community and provide a way to meet those needs.
Optimize Your Website
Now optimizing your website is a broad term. There are so many different avenues you can turn to fully optimize your site.
We chatted about SEO, social media, and in-person networking. However, in today’s day and age, many sellers start their research online. If your website has extensive information about your local community, they are likely to become familiar with you and your agency.
For example, you can start by creating informative community pages that highlight the pros and cons of the community. Every person has something they look for specifically in their search.
Some want privacy with a few acres, while others prefer the hustle and bustle of a city. This information can go a long way in generating leads as it shows that you know your stuff and can answer any question that may arise.
Creating informative and educational blogs can also help with lead generation. If you educate your potential clients in preparing their houses, what to expect when selling, or what to do once their listing is up, you become the trusted go-to realtor in the area.
Blogging and community pages show your clients your expertise and authority in the field. It also helps with SEO. If your additional pages are SEO ranked and have the right keywords, you are likely to show in a myriad of different searches that may ultimately lead to new clients.
How to Convert Leads into Sales?
Now, having all these leads is great, but how do you convert them into sales? It usually boils down to the response time. We live in a fast-paced society, so we expect instant responses from most of our service providers.
When you don’t receive a response within an appropriate amount of time, you are likely to start looking for your business elsewhere. The same goes for your clients. Responding within minutes can significantly increase your conversion rates, as the client still has their thoughts with finding an agent.
Now, this is not always possible. You need to set aside time for your existing clients, for your personal life, and most likely more!
Either set up an automated response or respond to leads at the right time.