Instead of wasting money on low-quality leads, get the attention of your market’s most motivated buyers and sellers by running ads on social media. That’s exactly what Krista Mashore does, and she sold over 150 homes last year with a 65 percent profit margin.
Want cheap real estate leads that actually convert? If so, you need to stop getting leads from sites like Zillow and realtor.com.
Instead of wasting money on low-quality leads, get the attention (and information) of your market’s most motivated buyers and sellers by running ads on social media. That’s exactly what Krista Mashore does, and she sold over 150 homes last year with a 65 percent profit margin.
For an overview of Mashore’s lead generation system, read on. To get additional insight and tips on social media marketing, listen to Pat Hiban’s full podcast interview with Mashore below.
Focus on Facebook for cheap real estate leads
There are over 2 billion people on Facebook, and the average user is logged in for nearly an hour per day. That alone should be reason enough to convince you that Facebook ads are worth running, but if not, here’s another: Facebook is one of the cheapest, most effective platforms for advertising real estate services.
If you take the time to tweak your targeting criteria, you can run ads for just dollars per day. Plus, you can always alter a campaign later to maximize your return on investment (ROI), which is incredibly easy thanks to Facebook’s in-depth analytics.
Stop trying to sell, and start giving useful info
So, what types of ads should you run?
Well, if you want to differentiate yourself from the thousands of other agents in your market, you need to stop pushing your services.
Ads promoting real estate services are everywhere, and you’ll never stand out if you do the exact same thing that 99 percent of agents do.
Instead of running traditional ads, run real estate video ads that actually provide value. Running videos that cover topics like prepping homes for sale and current interest rates is a surefire way to capture consumers’ interest.
Community-specific topics, like the best school districts in your market, are also great for generating leads.
Simple tricks for keeping advertising costs down
Once you have some ads ready to run, you need to ensure your targeting is spot on — that’s the key to keeping your costs low.
Here are two simple tricks for running targeted Facebook ads on the cheap:
1. Upload your database
This could easily help you close with on-the-fence leads, but it’s also great for maintaining top-of-mind awareness with past clients.
2. Retarget based on watch time
Facebook makes it easy to evaluate leads when running a video-based ad campaign.
As a general rule of thumb, people who watch at least 50 percent of a video ad are the ones most likely to convert, so focus your retargeting efforts on them for maximum ROI.
Learn how Mashore converts real estate leads
Now that you know how to generate cheap real estate leads via Facebook, learn how to convert them by listening to the complete podcast with Krista Mashore. In it, Mashore shares her conversion strategy in addition to explaining the process for nurturing online leads.
Pat Hiban sold more than 7,000 homes over the course of his 25-year career in real estate. Now, he dedicates his time to helping others succeed as agents and investors. As host of the Real Estate Rockstars Podcast, Pat interviews real estate experts to explore what works in today’s markets. He also founded Rebus University, an online training platform for real estate agents and sales professionals.