Know where your next lead is coming from
The No. 1 question I get again and again is: “Where should I be focusing my time and money to generate business?”
A lot of people will tell you doing business by referral is the one true path to real estate success. Others will say a strict and unflagging devotion to cold calling is the key to unlocking your riches.
But why limit where your next client can come from?
I believe there’s no wrong way to generate business. In fact, the best way to keep your pipeline full is to diversify your lead generation strategies.
In today’s episode I give you the four core lead sources all top agents focus on, and so much more!
First things first, let’s assess where your business is today.
Is it a startup (under 5 years old)? Are you solely focused on growth? Are you in the cash cow phase (over a decade in the business)? Would you consider your business a fading winner? (An enormous number of agents are here; they crushed it with one skill set in the past, but now need to revamp their businesses to thrive.) Does your business need restructuring? (It focuses on a niche that’s no longer booming.)
Here’s a secret: Each of those phases can lead to dramatic growth! The next step is to plan how your business will continue to grow.
To identify the lead sources best for your business, ask yourself these important questions:
- What has worked best? Where’s the sweet spot where most of the business has come from (almost seamlessly)? How can the process be better? Is there a better offer? Is it being marketed on more than one channel? Can it be outsourced? Is there a plan?
- How well do you know the market? Are you looking at the hot sheets multiple times a day?
- Do you know yourself? What actions are you most comfortable doing?
- Focus on what I call the Core Four!
Four Core lead sources
- Your database. Are you maximizing the use of your database? Have you created a map of homes you’ve sold to identify where your plan is working?
- Geographic farm. Do you focus on winning business in specific areas?
- Online marketing. Two-thirds of your digital marketing should feature direct response ads with an immediate call-to-action. One-third should be branding (advertising and Just Sold ads).’
- Open houses! Holding open houses is a tried and true method for winning new leads, and should definitely be part of your lead generation mix.
If you follow these steps, you will have a successful real estate business.
Source: inman.com
