Leads are people who show interest in buying or selling real estate. They are usually in the consideration phase of the purchasing process. You can get them through sources such as social media and networking events.
In real estate, finding a steady stream of high-quality leads is the bread and butter for realtors. Diversifying your lead generation methods to keep up with the competition has never been more vital.
This article will tackle the five best places you can get leads from. We will explain how to use these strategies to target different demographics, from referrals to online websites. We will also give you nifty tips to make it easier for you to adopt these strategies and grow your clientele.
Where do realtors get most of their leads?
An excellent realtor casts a wide net by adopting multiple lead sources. The most common include:
- Referrals
- Social media.
- Networking events.
- Open houses.
- Lead generation websites.
1. Referrals
What’s the first place you look when you need a problem solved? Many people turn to their network for advice, opinions, and solutions. The majority of your leads as a realtor are from people vouching for your expertise and credibility. For example, 36% of real estate sellers found an agent through referrals.
Why are referrals important to a realtor? Let’s go through some vital benefits of a referral in real estate.
Referrals have a higher conversion rate
Leads tend to convert into clients faster when their friends or family say they enjoyed working with you. From the onset, a referral trusts your ability to get them the best property, customers, or prices. They come with a sense of familiarity, making them willing to choose you as their realtor.
Referrals are cost-effective
As a realtor, you know how expensive lead generation can get. Referrals, on the other hand, are a cost-effective way to reach potential clients. They rely on organic word-of-mouth to get your agency’s name out there. You don’t have to invest in paid ads or developing marketing materials.
Referrals expand your network
Referrals not only help you get quality leads but also grow your network. You get access to new potential clients who recommend you to their communities.
Referrals contribute to a positive brand image
Getting consistent referrals is an excellent boost to your brand and reputation. When clients refer you, they approve and say, “I loved working with this realtor.”. This positive endorsement goes a long way in establishing a solid brand identity. As a result, your agency gets more visibility, credibility, and leads.
Tips for getting referrals
Referrals are challenging to secure because they rely on a solid relationship and client satisfaction. Clients should want to refer to you based on their experience working with you. Remember these tips to ensure everyone wants to recommend you to friends and family.
Provide outstanding service
The foundation of receiving referrals is to deliver exceptional service to your clients. As a realtor, you should go above and beyond their expectations. You must also be responsive to their messages and support them when they express concerns.
You must update your client about the status of the transaction regularly. Maintaining professionalism and attention to detail is a significant part of providing excellent service.
Ask for referrals
Feel free to ask your satisfied clients for referrals directly. When you have completed a transaction, ask your clients if they know anyone who could benefit from your services. You’d be surprised that getting referrals is as simple as making a polite request.
Keep in touch with clients
Stay in touch with your previous clients even after a transaction is complete. By staying on their radar, you boost their chances of recommending you to their friends and connections.
A few excellent ways to do this are by:
- Sending clients newsletters.
- Sending them real estate market updates.
- Calling them.
- You can schedule in-person visits with them.
- Send them personalized messages during celebrations and holidays.
Offer an incentive
Everyone loves a little reward for doing things, including referring their networks to work with you. Before offering an incentive, explain any terms to your clients. Here are some incentives that any client would love.
- You can offer a monetary reward for any referral that results in a closed transaction. You should look into the legal guidelines about giving money for referrals in your area beforehand.
- Give discounts on future services as an incentive for referrals. This incentive is also perfect for ensuring clients choose to work with you again for that discount.
- Give gift cards or certificates to popular local businesses, restaurants, or retailers in the area.
- Provide perks such as priority scheduling for property viewings or access to off-market listings. In addition to convincing them to refer you, perks make your clients feel special and thus make them return.
Become a resource
Referrals require clients to trust you; the best way to do that is to position yourself as an expert. How can you do that?
Share in-depth real estate insights. Compile helpful tips for buying or selling property and alert clients about emerging industry trends. Take it a step further and host seminars about the niche you’re knowledgeable about.
2. Social media
Over the past decade, social media has become a professional hub for interacting with people. As a realtor, social media is the closest you can get to physical interaction, especially with foreign leads.
Here are the benefits of using social media to generate leads.
Wider reach
There are about 4.89 billion active social media users worldwide. Thanks to the internet making the world a global village, these users can see your posts from anywhere. You can reach local and foreign leads who may have yet to encounter your agency.
Targeted advertising
Social media platforms have many targeting options allowing you to narrow your audience based on demographics, interests, location, and behaviors. Targeted advertising means you can reach people interested in real estate, increasing your chances of generating qualified leads.
Increased engagement
Social media interaction helps build trust and credibility with your followers. Engaging with people increases your likelihood of converting leads into clients.
Visual appeal
Visuals play a huge role in real estate because people want to see properties before making decisions. Social media is an excellent way to display stunning images, videos, virtual tours, and even 360-degree views of houses. More people will likely reach out with inquiries because of your visual posts, thus becoming leads.
Lead generation tools
Social media platforms have many lead-generation tools, such as lead capture forms, CTA buttons, and chatbots. You can make these features prominent on your social media profile so your followers can provide contact information or engage in conversations directly.
Pro-tip: Pre-fill your contact forms to reduce the information you request from leads. Many people are skeptical of forms that ask for too much. Additionally, pre-filled forms are faster to complete.
Tips for leveraging social media
Social media is an art that many realtors take forever to master. You can leverage its power using these helpful tips.
Optimize your profile
Interested leads will click on your profile, and what they see determines whether they message you or scroll away. How can you ensure they message you? Make the following changes to your profile.
- Use the same profile picture, cover photo, and username to create a recognizable brand identity. Your profile picture should be professional and relevant to your services.
- Fill out all relevant information in your profile. Include a bio stating your expertise and unique selling points. Add your contact details, website link, and any other relevant information to make it easy for people to reach you.
- Pin your most important posts at the top of your profile. These posts can be the most viral or detailed ones you created.
- Include relevant keywords in your bio, profile description, and posts. Doing so helps your profile appear in search results when leads look for realtors.
Start a conversation
A critical part of attracting leads through social media is engagement. However, you need to give them something to engage with first. An excellent way is to ask questions that require more than a “yes” or “no” answer.
Open-ended questions encourage your leads to share their opinions, experiences, or insights. For example, “What are your top considerations when buying a new home?”
You can also select topics or trends that spark discussions in real estate. However, approach these topics respectfully and professionally to maintain a positive and constructive conversation.
Give valuable information
Share informative content such as tips for home improvement, advice for first-time homebuyers, or the latest market trends. Valuable content convinces leads you’re an expert in real estate, thus making them willing to choose you.
Tell a story
People relate to stories, so sharing personal experiences can help you connect with your clients and leads. You can tell stories about your real estate journey, challenging situations you've encountered, or success stories. Encourage your potential clients to share their own stories in response.
Post consistently(scheduled posts)
With time, your leads expect you to be consistent and reliable on social media. Research the best time to post on your profiles and maintain a schedule. Nowadays, social media platforms have automation tools that let you schedule posts and track interactions.
Use humor in your posts
The last thing you want is your social media post reading like an academic piece. Social media users enjoy casual content with humor and emotion. Include funny anecdotes, relevant memes, and heartwarming content that makes you seem relatable and fun to work with.
Collaborate with influencers
Influencers are famous social media users who can convince their followers to interact with you. Look for influencers who align with your target audience and are interested in real estate. Consider their follower demographics, engagement rates, content quality, and relevance to your niche.
Before contacting an influencer, build a relationship with them. You can comment genuinely and share their posts to show interest and support.
Remember that an influencer has to benefit from your collaboration. Offer influencers perks such as:
- Exclusive access to properties.
- Special discounts for them and any leads they generate.
- Guest blog opportunities.
- Unique content creation ideas.
3. Networking events
An excellent place to get motivated leads is at a networking event. The most common are real estate conferences, seminars, business mixers, and community gatherings.
You could also host an event to position yourself as an expert realtor. Potential leads will flock to you for your opinion, advice, and an opportunity to work with you.
Here are some nifty tips to help you snag any lead at a networking event.
Prepare your elevator pitch
An elevator pitch is a short description of who you are, what you do, and why a lead should choose you. These pitches aim to explain your brand at a glance. An excellent presentation has the following elements.
- An introduction that describes your services in a few words. Your introduction should make a lead think, “That’s what I’m looking for.”
- A problem. You should research your target lead’s pain point.
- A solution. Tell an interested client how you will solve the problem you mentioned.
- A benefit. You should say why a potential client should choose you over other realtors.
A good elevator pitch forces you to clarify your services, and that’s good for your agency. Remember to practice your pitch beforehand so you can deliver it with confidence.
Carry your business cards
Ensure you have many professional business cards that include your name, contact, and a brief description of your services. Hand out these cards to potential leads after telling them your elevator pitch. You should also exchange cards with industry professionals you meet.
Pro-tip: Add a personal note or reminder on the card to help you remember the context of your conversation.
Engage in conversations
Initiate and join conversations about real estate. Don’t try to make yourself invisible by reserving your opinions. However, ensure those opinions are respectful. A lead should see you’re personable and professional even during heated conversations.
Ask open-ended questions to learn about people’s real estate needs, challenges, or aspirations. You should show genuine interest in their responses and provide helpful insights whenever possible.
Follow up with leads
After the event, follow up with the leads you connected with. Send them personalized emails or make phone calls to express your pleasure in meeting them and to continue the conversation. You can also provide additional information or resources based on your earlier conversations at the event.
Another great way to follow up with leads is on social media. Like, comment, and share their content to maintain the connection. With time, you will use that familiarity to convince them to become willing clients.
4. Open houses
An open house is an invitation to view a real estate property. The main aim of this invitation is to attract potential buyers. An open house may be your only chance to make an outstanding first impression, so let us help you prepare.
Prepare the property
The property’s preparation sets the tone for the open house experience. Visitors will see the property before they say hello to you. You must stage the open house with a keen eye. We’ll highlight a few checkboxes to tick as you prepare.
- Ensure all rooms are tidy, floors are spotless, and windows are clean. Remove personal items and clutter to create a spacious and inviting atmosphere. Personal items, such as family photos, will distract your leads.
- Stage the property by arranging furniture and decor to highlight the property's best features. Use neutral colors and tasteful decorations to appeal to many leads. Research exterior paint colors that match the style of your property.
- Fix any noticeable issues before the open house. Repairs can include leaky faucets, squeaky doors, or broken lights.
- Clean up the yard, trim the bushes, and mow the lawn. Add fresh flowers or plants around the compound. Ensure the entrance is welcoming with a clean and well-maintained front door. Replace old doormats and faded house numbers too.
- Create a pleasant atmosphere by considering the property's lighting, temperature, and scent. Open curtains or blinds to maximize natural light. Adjust the temperature, and use subtle fragrances or fresh flowers.
- Provide refreshments like bottled water and small snacks for visitors. Doing so creates a welcoming atmosphere and encourages your leads to explore the property more.
Promote the open house
Nobody will attend the open house if they don’t know about it. Advertise the open house through online listings, social media, and email. Go the extra mile and create signs around the neighborhood to invite leads. Add a distinctive feature or message to make your posters stand out.
Highlight the property's key features and create compelling descriptions and visuals in your ad to attract leads.
Offer incentives
Encourage leads to attend your open house through incentives. For example, you can hold a raffle for a gift card. You can also offer a free consultation with a mortgage broker or home inspector.
Use technology
You should use real estate technology to make it easier for leads to explore and leave their contacts. Use 3D imaging to show parts of the property they can’t immediately see. You can also use digital sign-in systems to capture their information automatically.
Position yourself as the area’s expert
Remember to sell the neighborhood as much as the property. Explain the amenities available around. Tell them about the area’s attractions and upcoming projects. Mention any community events the neighbors hold as well.
Follow up after the open house
Within a few days of the open house, thank your leads for their visit and provide any additional information they may need. Remember to personalize your follow-up based on their interests or questions during the open house.
5. Lead generation websites
A lead generation website lessens your efforts and delivers qualified leads. Unlike a traditional website that works as a brochure, these websites educate potential clients and convince them to leave their contacts.
Lead-generation websites apply these strategies to entice visitors and turn them into leads.
Lead capture forms
A lead capture form asks for basic contact details and can include additional fields for specific information, such as location. We mentioned people don’t like filling out lengthy forms, and lead-capture ones are no different.
You can get around people’s skepticism of online forms using the following tips.
- Make your form easy to spot by placing it above the fold. Your leads should see it without scrolling. You can set it beside the landing page offer, within the landing page, and at the bottom.
- Choose the length of your capture forms. Remember that shorter forms get you more leads but vary in quality. Longer forms generate fewer leads, but they are motivated and thus qualified.
- Only ask relevant questions that help leads show their purchasing intent. You can ask more questions when you follow up with your potential clients.
- Include a privacy policy to assure your leads that you will protect their sensitive information.
Social proof
A vital part of generating leads is persuasion. Social proof becomes the next best option since potential clients cannot talk to you in person. Include testimonials and reviews on your website from previous satisfied clients.
CTA buttons
A CTA button tells your leads to take specific actions. Examples of CTAs include “Get a Free Quote,” “Sign Up Now,” or “Download Your Guide.” Place your CTA strategically throughout your website to encourage conversions.
Include varied CTAs that say more than “Contact Us.” An example of a brilliant CTA is “Lock In My Free Account.”
Live chats
This feature makes your website seem conversational and personable to your leads. Live chats also allow you to generate leads at any time of day. Potential clients can communicate with you through your chatbots on their schedule.
Responsive designs
55% of internet traffic comes from mobile phones. Your website must be accessible from any device, including phones. A responsive design ensures that elements of your website adapt to different screen sizes.
Qualifying generated leads
Some lead generation methods give you qualified leads, but some do not. Qualifying them to determine their likelihood of becoming clients is essential. Qualification helps you focus your efforts and save time and resources.
Here are some factors to consider when qualifying leads.
- Their budget. Ask leads about their budget to determine if they can afford your services.
- A lead’s pain points. Ask them questions about the challenges they are facing. Doing so will inform you whether your services can address their unique needs.
- Their timeline. Are they actively looking for real estate or just shopping around? Understanding their timeline helps you prioritize leads and allocate resources.
- Their decision-making authority. Are they the final decision-maker, or do they need to consult others? Knowing this information will help you map out the sales process.
Use the responses you get to assign a score to leads. Categorize them as hot, warm, or cold leads.
Conclusion
Real estate leads are one of your most important assets as a realtor. It is challenging to generate quality leads, but possible. A great place to start is to encourage satisfied clients to send you referrals. You can also leverage social media to attract interested clients to your agency.
Host and attend networking events to connect with potential clients. Ensure you remain personable and professional. Invite the public to well-organized open houses to interact with leads casually. You can also set up a lead-generation website to get access to clients who research realtors online.
