Real Estate Leads 101 – Agents Love to Hate Lead Generation

Real Estate Leads 101 - Agents Love to Hate Lead GenerationYou’ve signed up for an Internet lead generation source. You’re paying a monthly price for unlimited real estate leads in your chosen area. You’ve been a member for 2 weeks and haven’t closed a lead yet. You call Customer Service of said lead generation company and spent 15 minutes complaining about how you hate the service, the real estate leads are junk, and you want to cancel and get a refund.

Sound familiar? If so, sit back, think about what you just did and smack yourself across the face for being so quick to jump the gun! The one thing to remember about buying real estate leads or subscribing to lead generation services is that it is MARKETING like everything else: it takes TIME to come to fruition! When you first became an agent, did you convert a lead into a client, list their home and go to settlement within the first 2 weeks of having your license? NO! (And if you did, that is AMAZING and you may want to teach a class on how to convert real estate leads immediately).

It takes time and effort to follow up with real estate leads, especially those purchased from a second source. A large portion of agents who sign up for such services hate their service the first month or two. However, the longer they stay with a service, the more work they’re willing to put into working their real estate leads, the more they come to like and appreciate the service itself.

Lead generation services aren’t a magic spring of listings, they take work like everything else. They don’t guarantee buyers or sellers, they don’t knock on doors for you, they don’t do listing appointments – basically, they provide you with real estate leads that YOU should be able to convert, since every real estate agent should be superb salesperson and customer service representative.

The key to success with real estate leads and lead generation service is a strong follow up system. You won’t convert jack without following up with your real estate leads. Consider this: following up with you leads can be as easy as washing your hair: Lather. Rinse. Repeat.

The “lather” phase is researching your real estate leads through public directory websites and using all the information to contact them (knock on doors, call, email, etc). Once you’ve made contact, “rinse” your real estate leads by sending them small gifts, thank you cards, pertinent information, etc. Once thoroughly rinsed, it’s time to “repeat”. Do everything again. Repeatedly until they buy or sell. You should be making contact with your real estate leads at least every 3 months, if not more often.

Remember, real estate leads aren’t guarantees, they’re opportunities. And your lead generation company is the one offering you the opportunity. It may take 2 months to close a lead. It may take 2 years. Either way, examine your methods before you blame someone else for you failure if you’re not converting your real estate leads. Just remember that someone else is closing all the real estate leads you ignore!