Real Estate Lead Generation 101
What are the best real estate lead generation options today?
Where and how can real estate agents, investors and other related industry professionals generate more leads for buying, selling and renting properties? What are some of the little known benefits, and pitfalls of common real estate lead generation channels today?
Here are 12 ways for real estate investors and Realtors to bring in more leads:
Some popular real estate gurus have said that direct mail is the fastest and easiest way to generate new leads. It can still be very effective. In fact, as others have turned to online marketing, direct mail may have become even more effective and profitable. However, direct mail success does rely on volume and testing to hone messaging and delivery.
Cold calling on a large scale, such as using call centers, might face many challenges with regulations today, but it has still been proven to generate an effective hourly income of hundreds of dollars for Realtors. Simply picking up the phone can be one of the fastest ways to generate real estate business. It is also one of the lowest cost ways to generate leads, and can help professionals stay on top of their sales game.
Many fantastic real estate deals and listings can be uncovered by simply driving neighborhoods and knocking on doors. There are obvious obstacles in doing this, but when it comes to getting the jump on competitors, it can be hard to beat.
Google may have made reaching consumers via their inboxes more challenging, but email can still be one of the best ways to reach both the masses, and highly targeted contacts. Email lists may be rented from data companies versus buying them. Subsequently, real estate investors and agents can take control of their own email real estate and build their own lists.
Buying Internet Leads
Buying internet leads has been popular for a variety of real estate and mortgage companies since before the last housing boom. These individuals experienced somewhat of a bubble, but have now been improved with enhanced data and targeting tools. There are various types of these leads ranging from ‘aged’ leads, to live exclusive leads, and non-exclusive leads. Make sure you do your homework and understand exactly what you are getting, as well as the difference in these types of consumers, in order to maximize ROI.
Buying Lead Lists
Lead lists have been a staple of the real estate industry for many years. An almost endless array of filters can be used to laser target the best prospects with these lists. However, newer individuals and real estate companies need to recognize that they may not legally be allowed to have, or market to some of these lists depending on how the data was generated. Watch for junk, and be sure lists aren’t being fluffed out with bogus names.
Real Estate Blogging
Real estate blogging remains one of the most powerful and profitable forms of lead generation, but also one of the most underestimated. A regular blog can ensure real estate pros and companies are not held ransom by other platforms, and can go on helping to generate leads for years after posts are written. A blog can be used to draw regular internet leads, feed email list building, and fuel social media efforts.
While this medium changes constantly, social media platforms can still be a fantastic way to generate leads in real estate. Twitter, Facebook, LinkedIn, Google+, and even Pinterest are all great options. There are many debates over calls to action, the amount of engagement which is right, and how much should be invested off-site, versus on a real estate company’s own websites, but with the right funnel strategy, it can be fast, affordable and enjoyable.
Signage & Outdoor Real Estate Advertising
Even the simplest yard and ‘bandit’ signs can be incredibly affordable ways to generate real estate leads. With the right message, these and other outdoor advertising solutions can be used to generate a steady stream of local leads. New technology can make this even better. Call capture, QR codes, interactive augmented reality signs, text messaging options, and even links to virtual tours can be used to boost outdoor advertising performance.
Pay-per-click (PPC) advertising can be one of the best methods of predictably and consistently driving in real estate leads on demand. PPC solutions, like Google Adwords, offer the ability to drive in leads on command. This can be tweaked to be hyper local, or reach global buyers, investors and homeowners right where they are now. With a little strategy and education, real estate marketers can significantly drive down PPC costs. With a large enough budget, they can even dominate, and starve out the competition by buying every lead for a given keyword. Aside from the big platforms, more affordable online leads may be gleaned from purchasing image, text and banner ads on other websites directly.
Don’t forget print. Beyond the traditional line up of real estate mags, consider other industry magazines that will reach the same prime prospects, and even leveraging online magazines.
Referrals and Affiliate Marketing
Personal referrals can be both a compliment, and the most valuable form of lead generation. Savvy real estate CEOs are taking this to a whole new level by using technology to scale and organize referrals on a national and global scale.