Real Estate Leads for Realtors: 9 Ways to Grow Your Real Estate Business without Going Broke!
As a real estate agent (or broker) you know that getting real estate leads for realtors is both expensive and overwhelming. If you perform a search for the keyword “Real Estate Leads for Realtors” you’ll get over 14M results. But how are you supposed to get good real estate leads if you’re unsure where to go?
Many successful real estate agents and brokers hire lead generation services or marketing consultants to help them with building their realtor portfolios. Although this method has proven advantageous for many larger firms and real estate agents with deep pockets, it’s not as feasible for everyone else.
In this article I’m going to share with you the most cost-effective ways to grow your real estate agency by getting real estate leads suitable for a realtor.
1. Build strategic partnerships
Whether you’re a budding or mature real estate agent, much of your success will come from partnering with other professionals that will assist you. This can be done by co-hosting happy hours, sending gifts to clients or leads, and forming local alliances.
Here are a few types of companies that can help you create such a strategic partnership.
- Insurance Companies: Homeowners insurance is a must; however, some homebuyers are also seeking to turn their new property, or properties, into flip homes, rentals, or businesses. Find a contact, nurture it, and help them to achieve success.
- Personal Bankers: Buying a home is one of the largest investments that we’ll ever make in our lifetime. Personal bankers know this, and often are critical in helping you with generating leads. As with your insurance company contact, think about how you can create a mutually beneficial partnership.
- Commercial Loan Lenders: I love commercial loan lenders. Most our realtor clients’ leads come from these great individuals. Most buyers don’t have such a lender, which means, if you can provide one, you’ll have a long-term client.
- Bakeries: This may seem odd, but let’s think creatively for a moment. Why would a bakery be a good source for getting real estate leads for your businesses? The answer is simple. They probably touch more lives, in different verticals, than you ever will. Partner with a bakery and allow them to give out your cards, or simply treat them to lunch. You’ll be surprised by the outcome.
2. Host a housewarming party
If you have a client who’ve just moved in, offer to cater their housewarming party. Many people may feel uncomfortable with this idea, but think about this for a moment. Every attendee of the party is a potential client. By doing hosting a housewarming party, you’re showcasing your passion to help your client as well as making a great first impression.
Before you consider this as an option, make sure you have a budget. This can be elegantly done on a shoe-string budget.
3. Become a restaurant regular
Many successful real estate agents meet prospects in a comfortable setting, such as a coffee shop or restaurant. The reason they do this is simple. They’re getting acquainted with the service staff as well as providing top-notch service to their prospective clients. It’s human nature to be curious, so most wait staff have become clients.
Of course, this is a no-brainer as a method to getting real estate leads for realtors. However, if done wrong, it is very costly.
Although many realtors use Zillow as a marketing option for example, other successful real estate agents focus on establishing customer incentive programs.
A customer incentive program has generated 1000s of leads for countless realtors. Essentially, you entice a prospective buyer to select you and, in return, you reward them for doing so. It’s truly a win-win option.
Other advertising methods, often used by real estate agents, are:
- Social media;
- Post Billboards;
- Local newspaper advertisement;
To generate realtor leads, there are countless options. Unfortunately, you may not have the time to handle this process—or if you do—you’ll experience burnout quickly. Consider hiring a marketing consulting company, or contact us so we can help you put together a strategy best suited for you and your budget!
5. Own a website
Many new agents use the extension of their broker’s website. This should be avoided at all costs.
Usually, the leads that are generated through these sites still belong to the company, not you.
Therefore, it’s important for you to build your own website for generating realtor leads. On this page, you’re free to post how-to videos, blogs and other content that creates engagement with your prospect and clients. Additionally, by capturing emails, you don’t have to continue spending money to acquire new prospects.
If you need help with this, we can assist you.
6. Devise and target a niche
Successful real estate agents are focused on a specific type of property. By specializing in a particular property, you’ll have the advantage over average real estate agents. Prospects find the idea of a specialist refreshing, and will be more engaging due to their depth of knowledge.
A few niches you can consider are:
- Commercial real estate;
- Historic homes;
- Luxury homes;
- Vacation homes;
- First-time buyers;
- Senior homes;
- For sale by owner (FSBO) properties
When considering a niche, you don’t have to be an expert immediately. Yet, I strongly suggest you have a game plan or strategy. Learn how much you can about your niche, identify the type of clients in it, and then market your expertise to them.
7. Target leads on LinkedIn
If you are not leveraging the power of LinkedIn, then you’re losing out on a lot of business. Here’s how to leverage this professional powerhouse.
Essentially, take time to join LinkedIn groups that your target audience may be a part of. Perhaps it’s a group for local real estate investors or first-time buyers. Regardless, find the groups your potential buyers are and contribute to the conversation, first by providing helpful information (blog, video) and then later on, you can give a professional pitch. Remember, people like to buy, but don’t like being sold.
8. Consider partnering with Redfin
The popularity of Redfin has made this company one of the hottest ways for realtors to generate real estate leads. With over eight million users, you could benefit considerably from this platform. In exchange for 30% commission, Redfin will send you hot buyer leads.
Over 90% of customers who’ve closed recommended their Redfin Partner Agent to friends, family and associates. And here’s something to think about. As a partner with Redfin, and not an employee, you do not need to leave your company.
9. Consider reaching out to expired listings
A great way to generate leads is to reach out to expired MLS listings. Although this is a great method, be sure to tread with caution because most of these listings have grown frustrated with realtors.
Many successful realtors have started an incentive program for these prospective clients, to increase their receptiveness to trying another realtor.
Ready to Grow Your Real Estate Business?
The information within this article has helped many realtors with achieving success. Perhaps, however, you may need someone to help you with developing a strategy or taking over your lead generation responsibility. We can help.
The K|E Marketing Group was founded to help small business owners and entrepreneurs with achieving the success they desire. We’re a full-service digital marketing and consulting company dedicated to transforming businesses. If you’d like to have a non-obligation consultation, contact us today