What is real estate lead generation?
Lead generation refers to the various strategies and actions taken by businesses, including real estate agents, to generate new sales leads. The goal of lead generation is to generate a steady stream of potential clients, as the more leads generated, the greater the likelihood of generating more business. There are numerous forms of lead generation, including social media, advertising, direct mail, and more. As a realtor, utilizing different forms of lead generation is crucial to effectively reach and connect with potential clients, and should be an ongoing part of your career strategy.
What is the importance of generating leads for a successful real estate business?
Generating leads is essential for the success of a real estate business. Leads are potential clients who have shown an interest in buying or selling a property and have provided their contact information. Without a steady stream of leads, a real estate agent's pipeline will quickly dry up, leading to a decrease in revenue and potentially even the failure of the business.
Being able to consistently produce real estate lead generation information will improve your organizational structure and profitability by generating new revenue streams. Further, it sets individual agents apart from others who might not have these skills or be proactive enough to build them. The more leads an agent has, the more opportunities they have to convert those leads into clients and sales. Additionally, generating leads is also an effective way to build brand awareness and establish oneself as an expert in the industry, which can attract even more potential clients.
Successful real estate agents understand the importance of lead generation and make it a priority to continuously seek out new opportunities to connect with potential clients. If you’re thinking the same, here are 15 of the best lead-generating strategies.
20 Key lead generation stats
- 91% of marketers believe lead generation to be the most important goal.
- More than 53% of marketers allocate at least half of their budget towards lead generation effort.
- 11% of marketers said that paid search generated the most leads.
- 37% of marketers believe that generating high-quality leads is more challenging.
- Email marketing is the primary choice of 89% of marketers for lead generation.
- only 34% of marketers spend less than 50% on lead generation.
- 18% of marketers consider outbound lead generation suitable for generating quality leads.
- According to recent studies, 21% of marketers have attributed meeting their lead generation goals to the significant impact of social media.
- 73% of b2b marketrs believe that seminar/webinars are one of the best lead generation strategies.
- 70% of B2B marketers believe video marketing helps capture and convert leads.
- A majority of B2B marketers, approximately 59%, consider SEO to be a significant factor in achieving their lead generation objectives.
- only 56% of b2b marketers, actually take the step of verifying the leads they generate before handing them over to their sales representatives,
- B2B sales lead average cost ranges from 31 to 60 dollars.
- 79% of people never convert into sales.
- 85% of B2B marketers use content to generate leads.
- According to 77% of marketers, podcasts are the best bet.
- Just over half (50.3%) of marketers use phone calls for conversions.
- 68% of marketers say social media marketing has helped them generate more leads.
- 9% of organizations pay $10 or less per lead while 4% spend $1000 or more. 18% of marketers don’t know how much each lead is costing them.
- 80% of marketers think marketing automation generates more leads.
Sources: Salesmate, Ruleanalytics, Statista, Exploding Topics, Startupbonsai, Oberlo
Top 15 lead generation strategies for realtors
Real estate agents have a plethora of lead-generation strategies to choose from, making it challenging to decide which approach to take. However, it's crucial to ensure that the chosen strategy caters to potential leads throughout every step of the customer journey. The best lead-generation strategies often involve a combination of traditional and modern approaches, and it's up to the agent to determine how to manage and create a cohesive campaign.
While the array of options may seem overwhelming, at the end of the day, the key is to continuously adapt and improve your approach to generate a steady stream of leads and grow your business. And we are already here to help!
Traditional lead generation ideas
1. Real estate seminars
Real estate seminars are an excellent offline marketing strategy as they provide an opportunity to connect with potential clients who are interested in the topic being presented. Seminars also provide a platform for agents to share their knowledge and expertise in a specific area of real estate. This can help position the agent as a thought leader and build trust with prospective clients. According to reports, 73% of b2b marketers rely on seminars for effective lead generation.
Here's a step-by-step guide on how to host a successful real estate seminar:
- Determine the topic: Choose a topic that will be of interest to potential clients. It could be about first-time home buying, selling tips, investment properties, or any other relevant topic.
- Choose a date and time that will work for your target audience, and select a venue that can accommodate the number of attendees.
- Promote the event: Create marketing materials such as flyers, email invitations, social media posts, and direct mail pieces to promote the event. Partner with local businesses or organizations to co-host the event and expand your reach.
- Prepare your presentation: Develop an engaging presentation that provides valuable information to attendees. Use visuals such as slides, handouts, and props to enhance the presentation.
2. Provide free home valuation service
Offering a free home valuation service is a common lead generation strategy used by real estate agents. Here are a few reasons why it can be an effective approach: Attracts potential sellers, Builds trust and credibility, Provides an opportunity for follow-up, Increases visibility, etc.
Here is a step-by-step guide for offering a free home valuation service
- Identify the target market for your home valuation service. This could be homeowners in a specific geographic location or homeowners in a certain price range.
- Develop a marketing plan to promote your free home valuation service. This could include a mix of online and offline marketing tactics such as social media, email marketing, direct mail, and local advertising.
- Create a landing page on your website where potential clients can sign up for the free home valuation service. Make sure the landing page includes a clear call to action and outlines the benefits of the service.
- Once a homeowner signs up for the free home valuation service, collect their contact information, including their name, phone number, and email address.
- After conducting the home valuation, follow up with potential clients to discuss the results and offer additional services. This could include discussing selling options, providing market insights, and discussing the client's real estate goals.
Real Estate industry lists
3. Advertising in local newspapers
Newspapers are a critical part of the American news landscape. Even in their diminished state, newspapers still prove to be more authentic and reliable than their digital counterpart. Moreover, from a business perspective, ads in a newspaper seem more legit and can be cost-effective. It is often more affordable than other forms of advertising, such as Television or radio ads.
How is it helpful for a realtor?
Local newspapers have a targeted audience. People who read local newspapers tend to live in the same area as the newspaper distribution. By advertising in a local newspaper, real estate agents can target potential clients who are interested in buying or selling property in the same area. In addition, Despite the rise of digital media, local newspapers continue to have a high readership in many areas. This means that real estate agents can reach a large number of potential clients with their ads.
Here's how to do it :
- Research local newspapers in the area where you want to generate leads. Look for newspapers that have a high readership and are popular among your target audience.
- Decide on the size of the ad and where it should be placed in the newspaper. You can choose between a classified or display ad, depending on your budget and the level of visibility you want to achieve.
- Design a visually appealing ad that includes your contact information, a call-to-action, and details about your real estate services. Make sure your ad stands out from other ads in the newspaper.
- Once your ad is published, monitor its performance and track the number of leads generated.
4. Attending networking events
Attending networking events is also an effective offline lead-generating strategy because it allows for a face to face meeting- and according to stats, 95% of professionals feel face-to-face meetings are necessary for business. On top of it, you can meet other real estate agents, mortgage brokers, home inspectors, and others who can refer clients to you. Basically, it's an opportunity to interact with people who may be interested in buying or selling a property in the future. You can also learn about the latest trends, laws and regulations, and best practices from other professionals in your industry.
Here are some best practices for effective results:
- Develop a short and compelling introduction that describes who you are, your work, and how you can help potential clients. Practice your elevator pitch so that you are comfortable delivering it when you meet new people.
- Make sure you bring plenty of business cards to hand out to new contacts. This will make it easy for people to get in touch with you after the event.
- Be open to meeting new people and engaging in conversation. Listen to what others have to say and show genuine interest in their business or industry.
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5. Sponsor a local sports team
Sponsoring a local sports team can be a unique and effective way for real estate agents to generate leads. It can provide community visibility, targeted audience, positive image, networking opportunities, and unique marketing opportunities, such as using the team's logo and colors in your marketing materials and creating special promotions and events that tie into the team's activities. Moreover, 81% of marketers believe that sponsorships have "moderate" to "significant" potential in the context of exhibit marketing.
Tips:
- Look for a popular team in your community that aligns with your target audience. Look for teams that are family-friendly and have a strong following.
- Contact the team and inquire about sponsorship opportunities. They may have different levels of sponsorship packages available, ranging from basic advertising to more extensive marketing opportunities.
- Negotiate the terms of the sponsorship agreement, including the package cost, the sponsorship duration, and the specific benefits you will receive. Be sure to clarify any questions or concerns you have before signing the agreement.
- Work with the team to create promotional materials that include your company logo and contact information. This may include banners, signs, and jerseys.
6. Joining a local real estate association
Joining a local real estate association can provide real estate agents with several benefits. From networking opportunities with other real estate professionals to gaining access to industry-related education and training, joining a local real estate association can help agents stay connected with the local real estate community, gain new skills and knowledge, and enhance their professional reputation.
To join a local real estate association, you can start by researching the different associations in your area and their membership requirements. Some associations may have specific requirements such as years of experience, completed coursework, or certain certifications. Once you have identified an association that aligns with your goals and qualifications, you can fill out an application and pay any associated fees.
7. Using direct mail campaigns
The tried and tested direct mail campaigns are an ever-effective way for real estate agents to generate leads and stay top of mind with potential clients. Direct mail allows you to personalize your campaign and target a specific geographic area or demographic group. With this, you can reach potential clients who may be interested in buying or selling a property.
To use direct mail campaigns, agents should first identify their target audience and develop a mailing list. This can be done by purchasing a mailing list or compiling a list of current and potential clients. Designing a visually appealing and professional-looking mailer is also important to catch the recipient's attention. You should include high-quality images of properties or the agent's team, along with relevant information such as the agent's contact information and a brief description of their services.
Once the mailing has been designed and printed, it can be sent out via traditional mail or through a third-party direct mail service. You can be confident of direct mailing because, according to surveys, 57% of consumers tend to open addressed mail envelopes. Of those, 48.5% take a look at the content inside, while 24.5% keep it aside for reading later. Furthermore, 1.6% of recipients display the mail in an open area.
Modern lead generation ideas
8. Use remarketing Ads
Remarketing ads are a form of online advertising that targets visitors who have already interacted with a website or brand in some way. In the context of real estate lead generation, remarketing ads can be used to target users who have already shown interest in buying or selling a property. For example, if a user visits a real estate website and views a property listing but does not take any action, they can be targeted with remarketing ads that encourage them to return to the site and take action.
The benefit of using remarketing ads is that they are highly targeted and can be customized to reach specific audiences. Numbers say that the average CTR for retargeting ads is 10x that of display ads and can increase conversion rates by 150%. So why not test it?
Here’s how to do it:
- Create an account with Google Ads or Facebook Ads if you don't already have one.
- Install a remarketing pixel on your website to track visitors.
- Set up a remarketing audience in your advertising account. This will allow you to target people who have visited your website but haven't taken any action.
- Create a new campaign in your advertising account and select "remarketing" as your campaign type.
- Choose your targeting options, such as demographics, interests, and location, to ensure your ads reach the right audience.
- Create an ad that will capture the attention of your target audience. Your ad should be visually appealing and have a clear call to action.
- Set your daily budget and bid for your ads. You can choose to pay per click or per impression.
- Finally, launch your campaign and monitor its performance regularly.
9. Use chatbots on your website
Using chatbots on your website can be a powerful lead-generation tool for real estate agents. Chatbots are automated programs that can engage with website visitors in real-time, answering their questions and providing information about your services. According to reports, chatbot chats have almost 90% satisfaction rates, implying that they are effective in engaging with visitors.
Here's a step-by-step guide on how to use chatbots on your website:
- Choose a chatbot platform first. There are many chatbot platforms available, such as Tars, ManyChat, and Chatfuel. Research and compare different options to choose the one that best suits your budget.
- Determine its purpose. Do you want it to provide customer service or support, answer common questions, or generate leads ? Knowing the chatbot's purpose will help you design and program it accordingly.
- Design and program your chatbot. Consider using a conversational tone and keeping the chatbot's responses concise and informative.
- Depending on the platform you choose, you may need to integrate your chatbot with your website using a plugin or code snippet. Make sure your chatbot is visible and easy to access on your website, such as in the bottom corner or as a pop-up.
- Finally, test & keep optimizing your chatbot.
10. Use influencer marketing
Did you know that 93% of marketers have used influencer marketing in their campaigns?
Influencer marketing is now a mainstream form of online marketing. It has been a buzzword for a while now, and the mainstream media regularly refers to it. Influencer Marketing is a hybrid of old and new marketing tools. It takes the idea of celebrity endorsement and places it into a modern-day content-driven marketing campaign. The main differentiator in the case of influencer marketing is that the results of the campaign are collaborations between brands and influencers.
How does it help realtors?
Influencer marketing can help real estate agents reach a wider audience and build brand credibility. Agents can leverage the influencer's existing following to promote their services and listings by indulging themselves with influencers in the real estate industry or related fields. This can help agents reach potential clients they may not have been able to reach through other marketing channels.
You can easily find real estate influencers on online platforms such as TikTok, youtube, Facebook, Instagram, etc.
11. PPC advertisements
The first step for each homebuyer is to conduct research online. And, like you and me, Google will most likely be their first port of call. You should really consider investing in PPC (Pay-per-click) advertisements to ensure that they locate you easily. You can also target specific keywords, demographics, and locations to ensure your ads are seen by the right audience. According to stats, 11% of marketers said that paid search generated the most leads. In addition, PPC has 50% more likely to purchase than visitors from organic search
Here's how to set up a PPC advertisement campaign:
- Select the PPC advertising platform that best fits your business, such as Google Ads, Bing Ads, or social media platforms like Facebook and Instagram.
- Determine your budget for your PPC campaign, including the maximum cost-per-click (CPC) you are willing to pay for each keyword.
- Select relevant keywords that relate to your business and the products or services you are promoting. For example, if you’re looking for a buyer, then you can use keywords like ‘homes for sale,’ and “homes for sale near me.”
- Create compelling ad copy that includes your chosen keywords and a strong call-to-action.
- Set your campaign targeting parameters, such as location, language, and demographic targeting.
- Launch your campaign and monitor its performance regularly.
12. Create a real estate podcast
Now is the time for podcasts. Podcasts have become an increasingly popular medium for sharing information and engaging with audiences. Get ahead of your competition, and ignite your lead generation campaign by commencing a weekly podcast. As a relatively easy way to differentiate yourself from the competition, starting a podcast has the potential to produce an endless array of real estate leads. You can use your podcast to discuss current trends in the market, share tips for buying or selling a home, and interview other experts in the field. This can help to establish you as a thought leader in the industry and build trust with your audience.
Just for your information, according to Buzzsprot, “ There are currently 120 million podcast listeners in the U.S. and over 420 million listeners in the world. Experts predict there will be over 160 million podcast listeners worldwide by 2023.”
To get started with your podcast, you will need to come up with unique ideas. Don't feed your audience the same thing that your competitors are doing. Try something different! You can decide whether you want to host solo episodes, have guest interviews, or a combination of both. You can then share them on a podcast hosting platform such as Apple Podcasts or Spotify.
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13. Email marketing for realtors
Email marketing can be a powerful tool for realtors to drive traffic to their websites and generate more leads. It is also a way to stay top-of-mind with people who you have already worked with. You may be surprised to know that email marketing is the primary choice of 89% of marketers for lead generation.
To ensure that your email campaigns are effective, it's important to provide something of value to the reader, such as a free consultation, and avoid making your emails look like spam.
How to get started:
- First, look for a reliable email list – for example, a real estate email list! This way, you can be sure of having a consistent flow of leads.
- Choose an email service provider (ESP): Use a reliable ESP that can help you create, manage, and track your email campaigns.
- Create engaging content.
- Use eye-catching design.
- Include clear calls-to-action (CTAs).
- Optimize for mobile devices.
- Track and analyze results.
14. Use technology – real estate lead generation software
Real estate lead-generating software is a type of tool that can help real estate professionals generate leads much more easily. This software can help agents save time and focus more on creating relationships with potential clients by automating key components of the lead generation process, such as targeted advertising and lead collection. Among the many advantages of employing real estate lead-generating software are features such as automated follow-up emails, which may help keep leads interested and informed about your services. Popular real estate lead creation solutions include Zillow Premier Agent, BoomTown, and Real Geeks. By leveraging these systems, real estate agents can increase the efficiency and effectiveness of their lead-generation operations.
15. Create a virtual tour of homes
In today's digital age, videos have become one of the most popular forms of media consumed by people. In fact, 70% of B2B marketers believe video marketing helps capture and convert leads, Yet, real estate agents fail to take full advantage. Creating a virtual tour of the property, you can provide an immersive experience for prospective buyers, allowing them to view the property from their homes.
To create a virtual tour, you can use a 360-degree camera or even your smartphone to capture high-quality footage. Then, you can edit the footage using video editing software and upload it to your website, social media pages, and online listing platforms. Make sure the quality is good! Nowadays, people prefer quality over anything.
Final thoughts on real estate lead generation
While there are several lead-generating strategies accessible for realtors, not all of them are appropriate for all situations. When selecting strategies, keep a few aspects in mind – the market, network, budget, and platform. The exact mix and emphasis on various methods will differ from agent to agent, but remaining adaptable with lead generation tactics can help real estate professionals obtain the highest-quality leads and break into markets that appear unreachable from the outside.
