Did you know that 20% of real estate agents sell 80% of all houses?
Are you feeling like you’re a part of the 80% of agents that only sell the other 20% of houses?
This means it’s likely time for you to improve your real estate prospecting strategies.
Let’s take a look at 7 ways to generate more leads and close on more deals, based on what I’ve seen work for thousands I’ve agents we’ve worked with and those I’ve coached on marketing and business growth..
1. Setup Your Website
Nowadays, there’s little excuse for not having a website. A website is fairly simple to set up and relatively inexpensive, and it can strongly add legitimacy, authority, and authenticity to your brand.
While having a basic website with your contact information is better than nothing, you might consider internet data exchange (IDX) integration. This means you can be advertising property online, displaying real estate listings right on your site.
Having your own website helps you retain more clients
Last year, 90% of millennial homebuyers used real estate agents to purchase their homes. 100% searched for their home online and 72% found their home online. Real estate agents with growing businesses know they have to provide an incredible home search on their own website. If your buyers are using a large real estate portal, they’re getting called regularly by other agents trying to court them.
Without your own site, your clients are going to go to Zillow or Trulia.
According to independent real estate marketing studies,
“Showcase IDX retains 8.5x more clients than IDX Broker and 4x more clients than the typical iHomeFinder website”.
Having your own website generates more leads and better leads
I’m a huge fan of PPC ads when used while building organic search traffic (SEO can take 6 – 12 months to start showing results) and to strategically boost your marketing results, but too many agents waste money on ads that they do not need to.
Leads from organic are known to convert 4x – 5x better than even the best PPC leads.
73.4% of real estate agents with a high-quality IDX on their own website said their website was the #1 source of quality leads.
The Made in America Movement, RE Report
Having your website protects your business and your future real estate prospecting when you change brokerages
It’s not if you’ll change brokers but when. The average REALTORS change firms every 4 years. – 2019 NAR Member Profile Report – and it’s been between every 4 and every 5 years for a while now.
Your personal brand, your website, and your contacts are your biggest asset. Make sure you own and invest in all 3. A good website serves as the hub for all of your marketing.
Clients expect you to have your own website
More and more clients are expecting agents to provide modern search tools that they need to find a home online AND to protect their contact and budget information from being sold to dozens of other service professionals like some of the large portals.
79% of sellers are more likely to list their home with an agent who has their own website with MLS property search.
The Made in America Movement, RE Report
If you already have a website, now might be the perfect time to revive and optimize your site.
2. Look for Leads on Facebook and Instagram
Both Facebook and Instagram are great social media platforms for generating leads. You can either promote your posts to specific demographic variables and geographic locations or run advertisements.
Facebook and Instagram are also both useful platforms for building your brand. On Facebook, you can set up a business page and start running ads and promoted posts. On Instagram, you can post images of your listings as well as photos highlighting the region you work in.
Having social media accounts will help you reach a larger audience and will keep you present in the minds of potential clients. In a world where social media is increasingly dominant, it’s important to have a presence there.
Pro Tip: Make sure your social media content reaches your clients for the 80% – 90% of the time when they are not actively buying and selling. Want some free social media content and a course of how to easily set your social media on autopilot? Here are 300+ free pieces of social media content you can download now.
3. Engage in Content Marketing
Whether you’re posting articles, videos, or images, content is still king when it comes to marketing.
In order to use content for real estate marketing, remember that your content should be more educational than sale-oriented. By offering your audience information that is valuable to them, you’ll increase the trust and authority with which people view your brand. Using web analytics, you can track the results of your content to see what’s working for you and what isn’t.
Pro Tip: Picking a real estate niche or a few niches to focus on makes this incredibly easy. Most of the agents I’ve coached are incredible sources of knowledge and helpful information. As I write this, a friend for years and agent in Guntersville, AL just came by to give me some advice as we get a lakefront house ready for sale. The advice he gave could easily have been turned into 2 short blog posts for his site that could then be dripped out in email and social to past clients and the community.
4. Network With Family Law Attorneys
When a couple is getting divorced, often one of the biggest tasks to deal with is selling their home. If things go smoothly with helping them close a chapter in their lives, they may separately look to you when it’s time to purchase another home.
While you may worry that this tactic makes you a bit of a vulture, you’re actually helping a couple during a difficult time in their lives. I’ve also heard stories of reconciliation that were aided from the approach of a selfless agent.
The role of an agent is not to encourage separation but to provide assistance to clients in any situation. This can be one of those situations where a consultative approach can be of great value to your clients.
Pro Tip: This approach can also apply to networking with lawyers that focus on estates, probate, and wills. The loss of a family member can be difficult for so many different reasons. As an agent, you can provide incredible help. Sometimes this may mean helping in the sale of a house. It may also include providing information on the value of a property and the potential options when family members lose a parent and need to quickly understand options as new caregivers, which may lead to a transaction or referral in the future.
5. Track Down FSBO Listings
For Sale By Owner (FSBO) are typically not available on MLS listings. Rather, owners will place a sign in their yard and maybe post it for sale on websites like Craigslist.
Take some time looking online for FSBO postings and reaching out to these sellers. When you drive around your town, take note of any FSBO signs you see in yards and contact the homeowners.
You can share with them the benefits of selling through an agent. For example, in 2018, the typical FSBO home sold for $200,000, compared to agent-assisted home sales which sold for $280,000.
Pro Tip: Create a quick one-page PDF of marketing/sales tips that could help FSBOs (with your contact information on it) that you can send to them after you reach out. It’s a great way to show your value and stay top of mind. I’ve seen this lead to a large increase in new clients, some for the sale of the house after a few months and other times as a potential buyer.
6. Prioritize Netweaving
Whether you’re building an online Realtor network or attending community events, networking is one of the most important parts of real estate prospecting. If you can generate consistent word-of-mouth recommendations, your business will prosper.
What is netweaving?
Netweaving is similar to networking but with a focus on protectively looking to add value and to help as many people as you can. This help or the insights you offer could include putting them in touch with someone you know or sharing insight that can help the other person.
Make time in your schedule specifically to attend neighborhood events, community gatherings, and professional networking events. Always carry business cards with you and don’t let anyone walk away without knowing you’re a real estate agent.
Of course, you don’t want to be pushy or overly sales-y, but meekness won’t get you very far, either. Find the sweet spot where you can confidently and unobtrusively market yourself in a palatable and agreeable way.
Don’t just go to group events to network, though. Once you have people in your lead funnel, reach out and ask if they want to grab a cup of coffee. People naturally prefer to do business with people they know and like. When you reach out, be sure to be flexible and willing to meet up at the time that works best for them.
Pro Tip: There are groups such as CEO Netweavers that specifically focus on this and you can learn more by reading from Bob Littell’s book Power Netweaving: 10 Secrets to Successful Relationship Marketing. Focus on the follow-up and the follow-through.
7. Follow Up on Each and Every Lead
You never know which lead is going to turn into a client. Leaving leads on the table by not following up is an all too common mistake.
Successful real estate agents are absolutely relentless about lead follow up. Make sure you are storing all necessary contact information and keeping records of your interactions. By keeping meticulous notes about everything and anything you learn about a prospect, you’ll set yourself apart from the crowd when you follow up.
Follow up afterward either by email, phone, or letter.
Pro Tip: Make sure to 1) identify action items from new contacts and your existing network 2) use your CRM or a tool like Trello to capture these action items in writing (a trusted system) and 3) set aside time every week to “follow-up” and “follow-through”.
Real Estate Prospecting Is Essential to Your Success as an Agent
Without a real estate prospecting strategy, you’re going to have a difficult time generating leads and finding new clients.
Remember, marketing yourself as a real estate agent can be relatively frontloaded work.
If, over many years, you become the go-to agent in your region, and all your past clients are recommending you to their friends and family, then you can get work solely on referrals. This isn’t going to happen overnight though, and it’s not going to happen without a lot of initial networking and prospecting work.
Pick one or two of the ideas above to focus on this month. Add another one to your weekly actives when you feel like you’ve mastered those and have integrated them into your business life.
Save this article for easy reference as you continue to improve your prospecting.
Have questions or a tip I did not cover in this article? Leave a comment below and I’ll reply.
Are you ready to take your marketing and prospecting to the next level? Take a look at our selection of the most advanced IDX property search tools.