What’s the Best Way to Generate Real Estate Leads?

I've been asked more times than I can count over the years what the "secret" is to real estate success. And while there are a lot of ingredients in the recipe, I can tell you that there's one that surpasses all the others: generating a consistent supply of good quality leads.

Real estate isn't a consumable. The average person only needs the services of an agent every few years, and this means you need fresh leads not only to stay in business, but to build the business and life of your dreams.

So stop asking yourself, "How do I get more listings?" or "How do I close this sale?" and start asking, "What's the best way for me to consistently generate new leads?"

Successful lead generation is the foundation of any strong business. Everything else follows from that.

But of course, the question is easy; it's the answer that's tricky. In my experience, every form of lead generation works if you do it effectively. Open houses. Phone prospecting. Facebook ads. Door knocking. Old school, new school. High tech, low tech. They all work if you do them correctly and consistently.

So how do you choose? Let's start by looking at some examples.

Telephone Prospecting

Say you have a goal to connect with 100 people, via the phone, four days a week. If that seems like it would take an entire day, think again. You can use a software program call Mojo that dials for you, up to three lines at a time. Using that software and a good headset, you can talk to up to 50 people an hour, which means in a three-hour time block, you can usually hit your 100-contact target easily.

The results? Even if just 1% of your phone contacts result in a closed sale, your rate of return on those efforts can be measured in the thousands of dollars.

Database Referrals

Another way to generate leads is by offering incredible service to a small database of carefully nurtured contacts. By 'nurtured' I mean these contacts are consistently touched by you before, during and after a sale using a systematic assortment of value-focused calls, social media connections, emails, special event invitations and local area real estate updates.

Tip: Using a real estate CRM can simplify the nurturing process for you by keeping you in touch on a regular basis through email activity plans and reminding you of when to make a call.

Open Houses

Open houses are still an incredible lead source, especially when done strategically. When you schedule an open house, consider what one of our top producing members does and invite the neighbours for an exclusive VIP tour one hour in advance—after all, who's more curious about a home then the people on the street?

Internet Lead Generation

With lead generating landing pages, and online lead generating services like Zillow and other similar companies, today's web savvy agents are generating an abundance of inbound inquires via the internet. But the secret to converting these inquiries into strong leads and ultimately customers is a timely response and a strategic follow-up plan used with consistency.

You're likely not going to be the only agent in your area using this approach, so you want to be the first to respond to someone--within five minutes, if possible. And then? Follow up with each lead systematically — twice a day for two weeks. That may seem like a lot but it's a proven, profitable system that I've seen work.

There is an endless supply of success stories that prove these strategies work. For every possible way of generating leads, there is someone who excels at it. Literally everything works if you execute well. So, which do you pick?

Here's a simple 3 step formula to help you choose your lead generating strategies.

Step #1. Choose What Fits You

There are plenty of strategies to choose from. Focus on picking one that fits your style. If you like meeting people, then knock on doors or do great open houses. If you love technology and advertising, go online. The better the fit, the more likely you'll do it. The more you do it, the better you'll get at it. It really is the only way to become exceptional.

Step #2. Always Follow a System

Lead generation takes time and, no matter what, it is a numbers game. For it to work, you need to follow the same steps, over and over. Analyze your results and adjust your system as you go, but always follow a system.

Step #3. Be Consistent

Be consistent and persistent—the habit is more important than the activity. It doesn't matter if you knock on doors or make phone calls—the important thing is that it gets done. Making a few calls here and knocking on a few doors there isn't going to cut it.

No matter what method you choose to generate leads, a CRM is the special ingredient to keeping you organized, staying in touch and managing your contacts more effectively. Learn more about how IXACT Contact can help you manage your workload and sign up for a 5 week FREE trial.

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