Top 5 Mistakes I Made When Getting Started in Real Estate Lead Generation
Top 5 Mistakes I Made When Getting Started in Real Estate Lead Generation by Allen Jimz – Real Estate Broker & Coach – License #0549644TX
Top 5 Mistakes I Made When Getting Started in Real Estate Lead Generation When I first started out in real estate lead generation, I made a few rookie mistakes. Here are the top five that you can avoid.
#1 – Stop over thinking, sometimes we want to have every objection ready, but really what we need to do is actually make the call or knock on that door or simply introduce ourselves. Keep following up no matter what the client says. I earned clients simply by keep following up, even when they told me they are not looking for a home. I just keep calling, every week, when my CRM told me to do it. The realtor who keeps following up is the realtor who gets paid. Being too pushy, can be annoying. Come with value, true value. Be sincere about helping them.
Things will work out. There are a lot people that tend to blame their problems on something in real estate. We already know that, but how do we know what to do from that? Doesn’t matter, we just need to do everything we can to resolve the problem and people will actually appreciate us for it.
#2 – Learn how to make sales, sell, drive value, and clearly state ROI or ROI context. We are looking for literally everything from listings to homes to rates to histories. When telling people what you do, ask them how they came to that insight. Did I hear something, was someone talking to them, like that person or other people in the field. Try to find out. Sometimes people have just been talking to themselves when they talk to a realtor. What we ultimately aim for are buyers and sellers.
Data directories are a great tool and app for connecting with people who might be interested in selling or buying. With their tracker tool, you can search for people in the same market as you or find buyers from the same zip code. Sometimes you can also do searches by school, income, experience and lots more. Just make sure to add them to your ad to get the best results.
#3 – Curate your database, I did this through tagging appropriately before importing. It can sometimes be overwhelming. I use Liondesk as a CRM, before that I was using Topproducer, however I like that Liondesk keeps rolling out new features, such as text blast (but only max 250 people). I use EasyMassText.com to text 250+ … so like an entire neighborhood of homeowners.
Liondesk has unified all of my data including sales reports, client overviews, contacts, website histories and more. Make sure you have your PR prepared and your email marketing tallied up. On my phone, I use a highspeed dialer for calling hundreds of leads per day.
#4 – Not following up – Associates cannot be mini-managers all the time. Try to stay on top of what customers are saying. Follow up daily. Also, remember to take things one step at a time, and don’t be mad because you pushed a button follow up email, too early or too hard. If they gave you the ok, great, but don’t kid yourself, not every lead wants to hear from you right away.
A realtor is not only a phone call, a piece of paper with Offer Letter, or a blank spreadsheet with data points on it can get old fast, especially after a while. It is common for new market participants to open or close more CRMs than intended, leading to salesman-type tactics to push sales. Remember that a lot of people in the industry are just starting out, these tactics can be frustrating to a new rookie. It’s not uncommon to see CRMs riddled with errors like duplicate accounts, misspelled escrow numbers, and unrelated do not buy buttons. This can all add up to wasted time creating an email or call to an address that does not exist.
#5 – Never try to be everything to everyone, that’s a certainty not a hope, and it’s quite painful. I wanted to be thorough with my initial conversations with clients, but I just kept doing one thing at a time, I just didn’t have time, and just because it was “obvious” to me that there was something wrong I closed the phone call.
If it is not in their city, or close to their area, please try to narrow it down. Farm out a little, try to be flexible. I was offered Austin last minute, yet, I hounded them from within. These are the essence of strategic lead generation which you first need to understand to succeed today.
The smart way to approach a meeting with a potential client is to ask them few open-ended questions. Keep the conversation flowing, this requires patience. What are their biggest challenges right now, are they looking to sell, are they downsizing, will they possibly rent while being in the market, etc.? After the initial small talk, now you are ready for the hard stuff, by asking them questions like these. The sentence should be fairly short, short enough to discover a potential interest but long enough to make the conversation interesting for each other.
Are you finding these post valuable? I hope so, bring value to your clients everyday.
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