Lead generation for Team Owners

In a shifting market your position in your real estate team changes from being a manager/owner back to being the lead generator. The things that worked in past real estate markets no longer work today. Your use of marketing dollars and time spent prospecting must change. Below is a list of the top ten sources for leads in a shifting market. Each topic will be discussed in detail in future posts.

1. Pay Per Click advertising: In a shifting market playing red light/green light with your lead generation dollars can make the difference between being successful and being broke. Using Google Adwords as a way to generate traffic to your website is the fastest source of internet leads available. Try to focus on less common keywords and start your ad campaigns later in the day to reduce your cost per click. Make sure your ads are specific and eye catching. A better click through ratio will save you thousands in a year of advertising. My most successful ad copy so far has been “Bellingham’s most powerful real estate search.”

2. Cancelled and expired listings: The true gift of a buyer’s market is the expired listing. In this market sometimes it is much better to be the second one to list a property. Sellers become more realistic of price and more accepting to using a different agent. A well scripted agent should be able to dial 50 people, speak to 9, and get one listing appointment. Agents who dial for dollars often can easily make the 50 calls in 2 hours. Pretty good payback for two hours of work.

3. Home Builders: Another gift of the shifting market. Builders are desperate to hear something different. Approach builders who have been staffing their own sites and offer them to staff their projects full time. Builders have to do the same thing as real estate agents in this market – cut expenses, increase lead conversion, and market better online. If you can do those three things you will have all the listings in the world.

4. IVR – Call capture: The most underrated tool created for real estate agents. You can use the call capture systems to track calls, monitor marketing dollars, and capture leads. Call capture will represent 20-25% of my business in 2008. Remember to leave the price off all flyers and advertise other listings on the back of each flier. Black and white flyers are just as effective as color and are 80% cheaper. Use your IVR on all advertising including virtual tours, craigslist, flyers, signs, and print advertising.

5. Sphere: Seems too obvious to mention, but you need to get your sphere in gear to succeed in this market. We use a sphere conversion plan designed by Michaelle Crovisier from Keller Williams North Seattle called “Get your sphere in gear.” Contact every one you know once a month by phone. It only counts if you speak with them and ask for business. Email everyone in your sphere once a week in an email titles “Hey Real Estate Fans” and keep it short! Ask for business and include a link to some good information about the market, economy, interest rates, or your community.

Stay tuned for 5 more ways to generate leads in a down market. Questions contact Ben Kinney Seattle Real Estate Specialist