| Find out how to be successful with online lead | | | | list their current home, you've got a double whammy |
| generation services and what you may be doing | | | | of a lead. Same goes with a seller looking to list - |
| wrong with your real estate leads. Online lead | | | | maybe they'll be interested in purchasing one of the |
| generation companies are a huge source of real | | | | homes you already have listed, and if not, perhaps |
| estate leads for Realtors and a great resource to | | | | they'll still consider you for a buyer's agent to |
| help grow an agent's business. However, many lead | | | | represent them when they purchase a new home. |
| generation companies are constantly slammed by | | | | Again, a double whammy of a lead. Just because the |
| agents who have used the service and had little, if | | | | seller isn't going to sell for 2.5 years doesn't mean |
| any success with the real estate leads provided. In | | | | you should drop them - on the contrary, you now |
| my experience, this dissatisfaction often comes | | | | have 2.5 years to get a leg up on the competition by |
| because the agent has unrealistic expectations of the | | | | working closely and sending the lead any information |
| service and little to no knowledge on how to develop | | | | to make their real estate process easier. It all comes |
| a good follow up campaign with their real estate | | | | down to an agent's sales ability - lead generation |
| leads. The first thing you need to realize as an agent | | | | services can get your foot in the door, but it's up to |
| is that lead generation services aren't magic listing | | | | you to sell yourself to your real estate leads. Often |
| trees. Typically you shouldn't expect to get listing | | | | real estate agents complain the loudest about getting |
| after listing from a service. Most services work on | | | | real estate leads of people looking to refinance or |
| the following basis: they provide online marketing in | | | | get a home equity loan. "These aren't real estate |
| the agent's specific area, the natural result of which is | | | | leads, I'm not a broker, what am I supposed to do |
| homeowners in need of information filling out lead | | | | with this lead, it's worthless," they say. That is |
| contact forms. This contact form is sent to the | | | | absolutely FALSE and the wrong way to look at |
| agent in the area, and that is their "lead." So what | | | | these leads. First off, any real estate agent worth |
| does this mean exactly? Well, it means the real | | | | their salt should have a close working relationship with |
| estate leads provided will be people with different | | | | one or more mortgage brokers to refer these type |
| types of real estate needs and in different stages of | | | | of leads on to. In the spirit of reciprocation, the |
| the process. If an agent signs up for a service for a | | | | mortgage broker should be referring buyers and |
| 3 month contract and expect a listing within the first | | | | sellers back to you! Even before you refer the refi |
| month, they are likely to be disappointed. Immediate | | | | lead to a broker, you need to do some work on |
| listings with real estate leads DO happen, but they | | | | your own. Talk to the lead, get to know them and |
| aren't the norm. Realty Times analyzed more than | | | | their situation, educate them in anyway possible on |
| one million real estate leads captured and cultivated | | | | refinancing as opposed to buying or selling. |
| online and then compared them to public records of | | | | Sometimes these leads can be converted to listings, |
| home sales from across the country. They found | | | | depending on what their situation is and what path |
| that only about 7.3% of consumers sold their home | | | | makes more sense for them. Even if they do wind |
| within 3 months of filling out a lead form, but the | | | | up going to your mortgage broker, that's still one |
| percentage grew to 22% after 12 months and to | | | | more homeowner out there that knows your name |
| over 40% after 28 months. This means that | | | | and how willing to help you were - they may wind up |
| purchasing real estate leads online is a LONG TERM | | | | needing you a few years from now or referring their |
| investment, not an immediate source of money. Real | | | | family and friends to you. You never really know |
| estate leads generated online MUST be aggressively | | | | what could come of your real estate leads unless |
| followed up with to convert them to clients! | | | | you try. Last but not least, we have the fake real |
| Therefore, as a real estate agent, you must look at | | | | estate leads - people who fill out information forms |
| lead generation services in the same light as other | | | | but give not ONE good piece of contact info. A lead |
| marketing endeavors. When you implement direct | | | | that has a fake name, number, email and property |
| mailing campaigns and send out information several | | | | address is admittedly, a bad lead. There's no way to |
| times a year to 5,000 homes, do you expect to get | | | | contact the person and find out who they are. |
| 5,000 listings within the year? No. Direct mailings are | | | | However as long as even ONE piece of information is |
| more likely to result in accumulation of real estate | | | | correct (name, phone number, property address) |
| leads over the next year or two which you then | | | | then a little detective work with public records can |
| must nurture into clients looking to buy or sell. There | | | | help you get to the bottom of the lead. Agents who |
| are typically four types of real estate leads received | | | | consider a lead bad just because it has a fake name |
| by online lead generation companies: buyers, sellers, | | | | will wind up missing out on MANY commission checks. |
| refinancers and fakers. Buyers may be in different | | | | The best way to have success with real estate leads |
| stages of the process, as may sellers, so you may | | | | generated online is to have a strong follow up |
| have to follow up for 2 years before actually getting | | | | campaign. Give the lead service a chance to work for |
| their business, or you may have a listing within 3 | | | | you, but be realistic - not all leads turn to listings and |
| months. It depends on where the consumer | | | | not all listings happen overnight. Patience and |
| themselves are at in the process. Obviously buyers | | | | persistent and consistent follow up is the true path |
| have a great potential - you may be able to sell one | | | | to success with real estate leads and online |
| of your listings to them and if they need someone to | | | | generation companies. It just takes time. |