Lead Generation is Critical to Your Success

Lead Generation is Critical to Your Success

Nov 11, 2010
If you've stayed at the same level of production the last two years or if your business is not where you need to be, lead generation is your answer. Over 98% of real estate agents don’t do any form of organized lead generation other than mailing (usually very bad content) to their database.

If you've stayed at the same level of production the last two years or if your business is not where you need to be, lead generation is your answer.

Over 98% of real estate agents don't do any form of organized lead generation other than mailing (usually very bad content) to their database.

The sad truth is that real estate agents are never trained in lead generation. Why? Nobody teaches it because virtually nobody practices it.

Lead generation is generally considered unrealistic for real estate. (Even though it's the cornerstone of success in everything from dry cleaners to insurance.) Part of the reason most real estate "experts" have this attitude is that lead generation requires consistency - something they believe most real estate agents will not apply.

I could not disagree more. I believe lead generation is one of the easiest and most effective strategies for your real estate business. What I love so much about consistent lead generation is that it is cumulative. Doing a little bit each week can add up to major long-term results.

Agents right now are hungry. They're nervous about the market and need to understand that the client needs you today more than ever before. This is a very confusing time for real estate. Today's superstar agent will be the one who makes it all easy for the client. If you can deliver the right message, the chances for attracting new clients is better than ever before.

That's right. You read that correctly: Better than ever before. Times like these can be a godsend for agents who position themselves as the clear and bright path that leads away from the dark forest of dire circumstances that appear in the newspapers every day. Be that agent!

Some of the many lead generation opportunities waiting for you include:

  • For Sale By Owner
  • Expired listings
  • Absentee owners
  • Renters
  • First-time home buyers
  • Niche markets (luxury, condo, equestrian, waterfront, commercial, investors, baby-boomers, second homeowners)
  • Geographical farming

Successful lead generation must be done well. The keys to a successful campaign are the following:

  1. Get your database in order.

    Decide what niche market you want to focus on. Make sure that it's not just an area of interest for you, but that it's also potentially lucrative. Collect names and build a list. Treat this list like gold.

  2. Put together a plan.

    A strategic lead generation campaign consists of regular consistent activity to that database. This could be phone calls, mailers, postcards, reports, etc. But whatever your activity, it must be consistent. This means regular contact at scheduled times - no excuses.

  3. Make sure that your plan suits the way you run your business.

    Maybe weekly is too often for you. Maybe bi-weekly or monthly would be better. It all depends on you and your work style. Many agents start off planning weekly mailings only to falter after the second or third week because it's taking too much time. It might be better to start off monthly and get the experience of what it's like to contact this database before speeding up the process.

  4. Get your collateral in order before you begin.

    Letters need to be written first. Postcards need to be designed first. Everything needs to be printed up and ready to go. With proper planning and pre-production, implementation is easy.

  5. Start your campaign off with a bang.

    Position yourself with a strong message that establishes you as the expert in your particular niche. Wow them. Make your first mailing a powerful introduction to the knowledge fountain that is you.

    Don't just try to sell them - hook them with well-written, well-researched, and concise information that pertains to them. And let them know that you will continue to update them with real estate news as it occurs.

  6. Be patient.

    Leads will not flow in overnight. Agents are often incredibly disappointed that their first mailing didn't produce spectacular results. In fact, your first mailing may not produce any results at all.

    That doesn't mean it's not working. It takes time for you to 'gel' in people's minds. When they see you over and over and over and over - that's when your phone will start to ring off the hook. Again, it all comes down to consistency. You've got to get your face in front of them multiple times for this to work.

When done right, nothing is more effective than lead generation for your business. I know agents who have doubled - even tripled - their income by implementing a powerful lead generation campaign.

It doesn't take genius. It doesn't take a lot of hard work. But it does take consistency and a commitment to keep going in the face of apparent lack of response. The agents who stick with it and provide important service to their database always reap rewards.

The leads are out there. They're yours for the taking.

 Categories: General Prospecting