Are You Buying Real Estate Leads?

I get it. It has been a tough couple of years for real estate agents. Transactions are down, which has impacted most real estate agents.

But what I hate to see during this time is agents abandoning their lead generation strategies because they aren't getting the results they want. They are blaming the lead generation method when the real culprit is currently the real estate market.

If a lead generation method has otherwise been proven - because it has worked for others, worked in that market, and should very well work again when transactions tick up, then why abandon the ship completely? It is a perfectly good ship, but it just isn't going to get you where you need to go right now. You might need to employ something smaller and more-agile for the current market, but keep that tried-and-true ship around. Make sure you continue to work it, maintain it, and make sure it's ready to set sail. The WORST thing you could do is take that lead generation ship out of service because it is that much harder to get it back in the water and start it up again when the market turns. And then you will have lost all that great momentum and miss that critical moment in the market!

If your lead generation does need a boost, what I recommend is running what I call a Faucet Campaign on top of your Ongoing Lead Generation Campaign (such as geographic farming, open houses, etc). Think of it like a more-agile dinghy that can run in and out of harbors easily, but you wouldn't take it out into rough open water - you need your lead generation ship for that.

Here are three dinghy-worthy faucet campaigns that I would recommend depending on the market in an agent's area (looking at both the availability of that lead generation target and what is allowed):

A Twist on Expired Listings

If sellers tried to sell last year when interest rates were at 7.79%, the buying power that today's buyers have in comparison may make the seller's "want" price within range. I would be reaching out to expired listings, offering a Marketability Analysis - an analysis regarding why their listing likely didn't sell at the time. It might have been home conditions, marketing, photography, price, market timing, competition, or something else. Offering a Marketability Analysis in a letter rather than a typical "are you ready to sell" postcard will help you stand out.

Smart Tip: We have a whole suite of tools to market to expired listings and can customize a campaign for you - have one touchpoint or 12! SCHEDULE A MEETING

Open House at Full Throttle

Even if you don't have a listing to hold open and need to hold someone else's listing open, you can take your open house game to the next level which is going to impress both buyers and potential neighborhood sellers. Here is your game plan:

Several days before your open house: Send a letter to the neighborhood announcing the open house, indicate there will be additional traffic and that you are putting out signage, and invite the neighbors to a special Neighbors Only open house time.

Put out ample signage: Add balloons if possible

Look for marketing opportunities: Really ramp up your marketing at the open house. Here are 9 items I would have at my open houses that got attention:

1. Welcome Sign: Indicate they are welcome to come in, leave shoes on or take them off, etc.
2. Special Feature Cards: Also called "silent talkers." You can even include QR codes on some of them that link to specific models of appliances!
3. Home Book: Including information on property taxes, schools, maps, surveys, septic and well records if applicable, preliminary title report, historical photos, and more.
4. Flyers: Nice ones on good paper.
5. Feature Sheet: A longer list of all the home features, room by room.
6. QR Code Table Tents: Direct people to getting more digital information on the home.
7. Price Appreciation by Neighborhood Map: Show how homes in the open house's neighborhood have appreciated as compared with other local neighborhoods. You can show changes in median sales prices if appreciation rates are hard to come by.
8. Amenities Map: Show the home's proximity to things like parks, groceries, restaurants, schools, fire and police stations, and more.
9. Tour of Homes Book/Brochure: This is something you can give to buyers on the way out that shows other comparable listings in the area. Invite the buyer to drive by and if they want to learn more, you are available at a specific time to talk about those.

That last one, the Tour of Homes Book is more important than ever because it defines the point between your representing the home you are holding open and possibly services for the buyer. Although you may not be able to let them into one of those houses without having them sign a buyer brokerage services agreement, it does open the door to having a conversation about it, doesn't it?

Smart Tip: Looking to take your open houses to the next level? Let's customize your open house toolbox. Setup a quick meeting with us to discuss it! LET'S TALK!

Smart Tip: My Denise Live webinar next week is going to be: Open Houses in the New Buyer Services Agreement Environment. I am going to be going over ideas and tips for working with buyers, so if you want to see the above in action, sign up for Club Zebra now and save your seat! GET STARTED

Renters to Homebuyers Campaign

Whoa!?! First-time homebuyers…in THIS market?!? YES!! In areas of the country that have a shortage of rentals, rental prices have been ticking up year after year. In some cases, this has been 5% or more for the last several years. As soon as interest rates come down a little more, I expect this market is going to pick up significantly. You want to be in the right place when that happens - with a nice batch of buyers who are ready to find a property.

There are a number of ways you can structure this campaign:

• Mail campaign to apartments or non-owner-occupied properties
• Social media campaign
• Online content campaign
• Offering information, ebooks, classes (live or online), one-on-one consultation, lender connections, and more

The key is to find the type of campaign that will work best for you. If you can't see yourself ever teaching a class, then use some of your other strengths.

Smart Tip: My Denise Live webinar next week is going to be: Open Houses in the New Buyer Services Agreement Environment. I am going to be going over ideas and tips for working with buyers, so if you want to see the above in action, sign up for Club Zebra now and save your seat! GET STARTED

Final Words

I am seeing social media posts from agents about sources for buying online leads. But there are just as many posts about these methods not working, taking so much time, or building a false sense of confidence ("I have 20 new leads - something will definitely come from this!"). Remember, buying online leads makes some tech company rich. Instead, stand out with information and expertise. Conversion is easier!

Instead of investing in an online leads business to get you over this hump, build a robust faucet campaign that is the best fit for your business. We can help!

By Denise Lones CSP, CMP, M.I.R.M. The founding partner of The Lones Group, Denise Lones has over three decades of experience in the real estate industry. With agent/broker coaching, expertise in branding, lead generation, strategic marketing, business analysis, new home project planning, product development and more, Denise is nationally recognized as the source for all things real estate. With a passion for improvement, Denise has helped thousands of real estate agents, brokers, and managers build their business to unprecedented levels of success, while helping them maintain balance and quality of life.