How do you currently generate real estate leads? Do you farm neighborhoods, publish a newsletter, have a lead generating realtor web site? Well, no matter how you get them I’m willing to wager two things;
1. They’re not so easy to get, and
2. You can always use more
While you struggle with trying to fill your leads pipeline, you can probably think of at least one agent who makes prospecting for leads seem like child’s play. But what is it exactly that they do so efficiently that you are not?
Of course the answer depends on lots of things, but let’s draw some ideas from an agent I know who worked with a builder of kiddie condos who did quite well at it.
Let’s call her Evette, which is not her real name, but it allows me to personalize the story in a way that you’ll be able to relate to.
Evette was a spark plug dynamo; full of energy, self driven and highly successful at what she did. And what she did best was market and sell lots of student housing units- mostly condos from what I could tell.
Hers was a 5 step process
1. She’d find raw land for her builder developer to purchase and develop
2. Try to set up partnerships with the seller of the raw land and her developer to offset the developers out of pocket costs while gaining controlling interest of the land
3. Would then list for sale all of the units the developer built as a result of the partnership
4. Then be positioned to resell the units when the students gradutaed from college and moved out of the area and
5. In some instances would be positioned to also get referrals to out of town agents for the relocating students.
As you can see, Evette had it going on. So, when I say meeting and working with Evette was a career changing experience you’ll know what I mean.
My attitude was the first thing that changed. I got over being paralyzed with awe by doctors, lawyers, judges, dentists and other high income earning professionals.
Initially, I felt inadequate when it came to marketing real estate to them. I just didn’t think I knew enough about real estate in general to come off as a competent professional.
But you know what? It turned out I knew more than all of them, and more than I needed to know to help them with their real estate needs.
I went on to find doctors, dentists, college professors, judges, insurance agents and garden variety investors to work with and had some mutually beneficial relationships for many years.
So, what does this mean for you? Actually, there are several things to take from this article.
If you’re not marketing to people with money you should. Some agents self sabotage by not aggressively pursuing leads with the financial wherewithal to buy real estate.
Instead, they market to folk who can barely qualify for mortgage loans and/or who have related and other difficulties to overcome before they can qualify at all.
Don’t let that be you – anymore.
Another thing to learn from this article is that one lead can multiply into 3 to 4 different income generating opportunities.
So, no matter how insignificant a client might appear to be treat them all equally well.
You never know when they might refer a friend or acquaintance to you, or ask you to help them purchase some investment properties, or seek you out to help them sell the first property you sold to them and help them buy another one.
It’s a well worn cliche’, but it’s true; there’s no shortage of real estate leads for agents. You just have to know how to spot them.
by Lanard Perry