The Missing Ingredient That Can Assure Your Success in Real Estate

Here is a pretty simple pattern. The larger your lead database grows, the more successful your real estate business will be. We have seen a direct correlation between real estate growth and the size of a lead database. Seems like a no-brainer, right? More leads equal more opportunity for success. In fact, we’ve discovered that teams and businesses investing in lead generation efforts experience a compounding growth effect. Over eight years, they typically witness growth in production volume by four times. On top of that, we’ve uncovered a formula to virtually assure success in real estate.

 

 

But while the numbers may seem simple, actually getting there can be trickier. After all, you are one person! You only have 24 hours in the day and 7 days in the week to work with… so how do you tackle it all and keep up with that treasure trove of a database? Let’s lay it all out.

The Time Conundrum

First things first. What really goes into managing a database?

Say you’ve got 1,000 leads in your database. Maybe 25% of those are “nurture” leads and you need to periodically reach out in order to keep them on the backburner. You’ve also got a handful of leads that are 6 months out from being ready to buy, so you have an eye on them. Maybe you’ve got 25 hot new leads this week that registered on your site. And those leads need to be reached out to immediately! (The critical first touch.) On top of that, you have past clients to follow up with, cold leads to circle back with… oh, not to mention the day-to-day of running your business.

When you look at it all together, it’s a lot of hard work.

 

Historically, people have turned to technology to make that work easier. But there’s an emerging factor that could be the key to assuring success in real estate: lead support services for agents.

Getting Off the Hamster Wheel

We’ve already highlighted how your lead database impacts your growth and potential for production volume. But now imagine all those leads. An agent has to make the initial engagement with a new lead. Oftentimes, they have to nurture them for up to a year. They have to constantly engage and re-engage with them. And when they become an active “client,” they have to provide exceptional service.

 

But, you didn’t get into real estate to chase every new lead, right? To be glued to your phone or your desktop, at-the-ready to respond at a moment’s notice. No, you got into real estate to make connections, have conversations, solve problems. You got into real estate to sell real estate! But, as we all know, it’s critical that someone chases those leads and that new leads are responded to immediately.

 

So if you want to squeeze every cent out of your growing database, you have two choices.

  • 1. Be in 100 places at once
  • 2. Invest in the right support

The Missing Ingredient to Assure Success

Technology can assist with those tasks, but a supporting service, like RealContact for example, would enable agents to focus on the biggest dollar-productive activities: handling clients. This extra “support” takes care of the lead engagement. It manages the lead nurturing. And when coupled with technology, it accelerates lead conversion. It leads to 4x growth.

 

So when it’s 8:00AM and you’re stuck in traffic, you don’t have to worry about a new lead being ignored. Or when someone registers on your site at 2:00AM and you’re sound asleep, there’s someone ready to reach out and make the connection.

 

 

Let’s face it, the real estate hustle is real. The faster you move, the harder you work, the more you “grind,” the more successful you’ll be. But it’s 2019. There’s a way to capitalize on the grind, without spinning all of your wheels and burning out. Not to mention, your time could be better spent elsewhere.

 

Your time is best spent making that real human connection – doing a showing, closing a deal. And the way to assure success in real estate is by investing in the right support services that will allow you the time and energy to focus on those dollar-productive tasks. To get off the hamster wheel and get back to what you love… selling real estate!


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5 Strategies to Generate Seller Leads

Just like with buyer leads, generating and converting seller leads is all about relationship building. The internet and digital media have drastically altered the way we interact with prospects, but the need to build relationships is as important to real estate as it ever was—it’s only the way we build relationships that’s changed.

The best way to build relationships with seller leads is to increase your visibility, provide a strong value prop, and stay in consistent communication. We compiled a step-by-step process of proven strategies our top clients use to attract and build relationships with seller leads. 

5 Strategies to Generate Seller Leads and Build Better Relationships

Lead Generation Real Estate Plan

Choose the Right Geographic Farm

You have to differentiate yourself from your competitors as the trustworthy expert in your target area. The real key here is target area. Here are some things to consider when you’re finding an area to geographically “farm” for seller leads.

 

Average selling price

Profitability is determined by the number of deals you close and the average price of each transaction, so do the math when you’re looking at the average home price in a certain area. Are you currently seeing success in a pricing niche? Choose a target area that mirrors that area. If not, play it safe and focus on neighborhoods where homes sell around the average price for your region.

Opportunity

Find an area with a significant opportunity for home sales: enough to make the return worth your efforts, but not so many that your marketing is spread thin. Ideal turnover rates will vary from city-to-city, but a general rule of thumb is to target an area with at least a turnover rate of 6-8%. (Some will even say to double that recommendation).

Competition

Take a look and see if there are any other agents active in your area. There are two situations here, and both present a solid opportunity:

  1. The neighborhood doesn’t have any agents dominating the market
  2. the area has a clear “agent in charge” (usually attributed to a lack of options)

Real Estate Lead Generation

Brand Yourself Effectively for Seller Leads

Your goal is to build a solid and meaningful presence in your target neighborhood. Your strategy is based on building relationships and positioning yourself as a source of knowledge, which takes time, investment, and most importantly, consistency.

  1. Keep your marketing consistent with your value proposition. Building a strong reputation takes repeated positive interaction through your geographic marketing.

  2. Position yourself as the neighborhood market expert. Make sure you have a solid grasp on hyper-local pricing trends, buyer demand, and can communicate these statistics effectively to your prospects. Your prospects want compelling stats on the market in their area and hyper-local “Sold stories”  with happy endings.

  3. Invest your time in relationship building. Attend neighborhood events, volunteer, and put yourself out there. The community will return the favor.

Lead Generation Plan

Create Compelling, Seller-focused Marketing Materials

Mailings and postcards like “just listed” and “sold” cards are still an effective way to supplement your digital marketing efforts. Consistency is key in your branding and your outreach.

Mailing to too many homes, or too frequently will keep your costs high, but if you’re careful to target your outreach appropriately and create a plan around frequency (ex. one piece every 3 weeks), you should see a good ROI.  


Elevate Your Content with High-Converting Guides


Real Estate Lead Generation

Build a Solid Online Presence and Geo-Target Ads for Seller Leads

To identify seller leads online and collect their addresses, an effective strategy is to employ a home valuation page.

Create a home valuation page that converts potential sellers. The promise of a free estimate and market report are easy ways to find new seller leads and are perfect conversation starters.

Potential sellers are searching online based on their specific geographic neighborhood. This is a huge opportunity for you to gain exposure and reach them with digital ads that show your brand, value for that exact neighborhood. These folks want to do business with the specialist in their area, so it’s crucial to stay visible.

  • Reach out directly to the homeowners in your area of focus with geographically targeted ads.

  •  You can easily and very efficiently select your target areas and farms for ads to reach the right audience.

  • Use ads to drive prospects back to you seller conversion page, or home valuation page, so they will register for an estimate and market report, and you get their property details and contact information.

 

Real Estate Lead Generation

Stay in Front of Seller Leads with Automated Marketing

You’ve targeted the right type of leads with ads. You’ve sent them to register their information on your home valuation page, now it’s crucial to keep up with your contacts and nurture the relationships.

Having a system to keep your clients organized and leverages technology to follow up with seller leads makes this process simple.

With BoomTown, leads who register on the home valuation page are automatically logged in the back-end of the system. (Even if they only enter an address, the system has a simple reverse-lookup tool to instantly populate the missing information.) A seller dashboard lets you organize leads and even quickly create a CMA with direct links to Realtors Property Resource (RPR), simply by clicking on the lead’s address.

 

To stay top-of-mind with potential sellers who aren’t ready to make the move yet, it’s simple to set them up on a drip campaign that keeps them informed on neighborhood stats, market trends, and the price of homes that sell nearby. This type of communication keeps your farming consistent, automated and effective. You’ll know just what to send and how to send it.

Bringing Your Seller Lead Strategy All Together

A seller lead campaign that blends your online and offline marketing efforts is always the most effective. Prospects have a physical introduction to your brand (maybe even in person!) along with a tailored and convenient digital experience. Your offline efforts can be a nice complement to your online marketing. For example, include links to your home valuation page on your postcards and consistently drive traffic there.  

 

It’s all about looking at your chosen geographic area, building your subscriber base, and continuing to create opportunities.

 

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