Buying Leads... Does It Work? Should You Do It?
In this newsletter we go over how to buy leads the right way… and explain the most common mistakes agents make when doing so.
To start off...
If you think buying leads is a quick and easy way to get clients, you're mistaken.
If you’re someone who's buying leads with no acquisition strategy on the backend... no strategy to convert those leads into clients...
...your gambling with your success and your livelihood.
There's no nicer way to put it.
It's like playing the lottery.
You're almost guaranteed to lose.
Yeah you may get lucky and win some money... snag a few deals.
But it almost always ends up unproductive.
This is why you see so many agents struggle with leads.
And they'll blame it on the source: Realtor.com, Zillow, Opp-city, whatever the case may be.
But what they fail to realize is that most of the time, the source isn't the problem...
it's the fact that they don't have a solid client acquisition strategy on the back end.
They're buying leads like they're playing the lottery...
and it's short-sighted, unrealistic, and unsustainable.
It's chasing little wins that may feel great in the sort term...
but do nothing to build your foundations...
nothing to build resilience for the ups and downs of the long haul... the market shifts, the dry spells, etc...
The approach is fundamentally inconsistent with the principles of success in any endeavor.
Its gambling with your business...
and it makes it impossible to predictably get more clients, close more deals, and have lasting success in real estate.
So if you’re someone who’s thinking about buying leads or someone who has done it before…
Ask yourself:
Why am I doing this? and what's my game plan?
Am I doing this because it seems like a great way to make some quick cash?
or
Am I doing this because I want to expand my reach, grow my sphere of influence (SOI), and expand my network of potential clients?
Buying leads is not a shortcut to success.
It's about building a following that'll give you an abundant stream of referrals and new business overtime…
So don't fall victim to short sighted mindsets that keep most agents mediocre for their entire career.
Once you muster up the courage to play the long game...
and align your business strategy with the foundational principles of success…
buying leads can be an incredible tool that will help you close many more deals long term.
So here's how to buy leads the right way.
The approach is much simpler than you think.
What you need before you buy anything...
is a way to communicate with every single one of your leads on a consistent basis (weekly, by-weekly, monthly).
and maintain a constant chain of value oriented communication...
Most agents can't even do this with their SOI... let alone with more leads.
And only the best agents in the country really understand it's importance.
Communicating with your audience: leads, past clients, friends, every single person you know... on a consistent basis...
is the key to building a top-producing business.
It's the key to:
regardless of the state of the market.
Because there are always people buying real estate.
So build and maintain genuine relationships with everyone you know.
Show them that you have their best interests in mind.
And most importantly, that you care about them... for real.
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Communicate that you're a real estate resource who's ready, willing, and able to help them with any questions they may have...
or anything they could ever need real estate related...
regardless of it if results in an immediate transaction.
This is the key to being afforded the privilege of guiding folks through their real estate journey.
and more importantly: it's the key to converting clients into loyal advocates of your brand...
who go out of their way to recommend you...
and come back to you over everybody else.
You see, the nature of real estate transactions is (long term).
This is the most significant financial decision in most peoples lives.
The last thing they want is to be rushed by a realtor they don't know, like, or trust at all.
It's a complete turn off.
Don't be that agent…
Now if you're still with me at this point, you may be thinking, well how do I do that?
How do I personally communicate with every single one of my potential clients... on a consistent basis...
in a way that I can maintain and stay consistent with?
I don't want to come as salesy.
Or desperate.
What do I even say?
First of all the answer is simple… and it's email.
Email newsletters: (crafted. and. delivered. correctly.)
No one wants to read spam.
No one wants to read inauthentic content.
but (value oriented) emails crafted and distributed in a
makes your audience feel valued and understood.
The content helps them become more informed about buying and selling real estate...
It constantly reminds them that you remember them...
that you're an expert...
that you're there to answer any questions they may have...
and that you're always one call away from assisting them with whatever they need... regardless of if it results in a transaction.
Now you may be thinking; well what about social media?
**Social media is great for expanding your reach and promoting your brand.**
**Email is essential for:
We'll dive more in-depth on the differences between email and social media... and how to use both of them to build your dream business in a future edition.
Stay tuned. ?? ??
Bottom Line:
Buying leads works for those who’ve put in the work.
Those who've built a solid foundation, who are experts in their field.
Those who have the systems in place to nurture their connections and maintain a value-oriented chain of communication long-term.
So before you buy leads...
Build your fundamentals... Build your foundation...
Implement Communication Systems...
Aim for growth and success that lasts, not quick wins that fizzle out.
And remember...
"There are no shortcuts to any place worth going." - Beverly Sills
&
"Success is like a snowball. It takes momentum to build, but the more you roll in the right direction, the bigger it gets." - Steve Ferrante
If this makes sense to you and you're interested in starting a newsletter, but you don't know where to begin... I'd be glad to answer any questions you have.
Feel free to comment or shoot me a DM and I'll get back to you as soon as possible :)
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