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