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Leads (real estate)

Discussion in 'Sales, Marketing and PR' started by Isaac Kieffer, Jan 12, 2016.

  1. Isaac Kieffer

    Isaac Kieffer Entrepreneur

    I was wondering what kind of leads/ advertising other people would recommend or have used to get real estate leads. I have put money away to acquire leads. What works well for most businesses/ real estate professionals. In regards to spending money on generating leads rather than just prospecting!

    Thanks, Isaac!
    T J Tutor likes this.

  2. T J Tutor

    T J Tutor Administrator Entrepreneur

    You must become a Prospecting Gorilla!

    The two most important prospecting skills you must embrace and master are online social engagement and networking, offline social engagement and social networking.

    The vast majority of leads for real estate are generated one on one with frequent contact. The prospector must master an excellent phone demeanor and presence and an in person demeanor and presence. You can only develop these skills through rehearsal and repetition and it is this rehearsal and repetition that through the years delivers your pitches so refined that you will blow the competition away. When you have mastered your presence, no one will realize you are pitching yourself and your business and this leads to the finest branding. Branding makes you go viral, it makes you one of the go to person's.

    Poor prospecting and no prospecting is the number one downfall for most business people. In real estate, it is the core of your business and if you cannot learn to like it (and master it) then you will just be another one of those in the 95% that does 5% of the business. Master it and you will be in the 5% that does 95% of the business.

    Real estate is a prospecting business, not a real estate salesperson business. I've come to know loads of great salespeople over the years that just couldn't get their prospecting developed and consequently were less than average as Realtors. You must become a prospecting gorilla!
    K likes this.
  3. Isaac Kieffer

    Isaac Kieffer Entrepreneur

    Thank you for sharing! My question was more based on how should I reinvest into the business. I have vary miniscule living expenses so i have quiet a bit of money to reinvest my money to acquire more leads. My goal would be to be able to acquire enough leads to hit 40-50 transactions in a year so I can understand the cost in that to hire someone on and see how scaleable this could be. How would your money best be spent in this business? As an expert, how would you spend $1500? How would you spend 15000$?

    Thank you!!, Isaac
  4. Joe

    Joe Entrepreneur

    Become a small angel investor
  5. T J Tutor

    T J Tutor Administrator Entrepreneur

    You asked,
    "I was wondering what kind of leads/ advertising other people would recommend or have used to get real estate leads."

    This isn't asking about investing in your business. You asked about getting leads. No one can buy leads that are viable. Anyone selling you real estate leads is selling you crap! You cannot get viable leads from any real estate leads sellers. What you get from them is, at best, cold leads and a cold lead is not a viable lead.

    You went on to ask,
    "I have put money away to acquire leads. What works well for most businesses/ real estate professionals."

    Again, nothing here about investing in your business. You are still asking about how to acquire leads. You must think that buying leads and advertising for leads is an investment. Not so. You need to correct your thinking on this. There is not a top 5 Realtor anywhere in the world that will call this a business investment nor will they call lead acquisition a business investment.

    Then you state,
    "In regards to spending money on generating leads rather than just prospecting!"

    Rather than prospecting? Really?! Prospecting has to become your number one skill! As for alternative, secondary, means to generate leads, well this falls into the categories I outlined already for you. Social engagement online and offline!

    Spending money on generating leads is such an ambiguous remark. As well, as for "just prospecting", you say this as though it s an ancillary task. Not so, prospecting is the primary skill and effort of a Realtor, period.

    I know you feel I didn't understand you the first time, but I completely understand you. What I am saying is if you have not become one of the top prospectors in your area, then trying to find other means to generate prospects and leads is a moot point.

    If you doubt me, then call or visit the top Realtors in your area and ask them if they spend any money buying leads. I can assure you none of them buy leads, not ever. Everyone of them became awesome prospectors by making loads of phone calls, speaking to people one on one in as many settings as possible, becoming a presence in their respective communities, etc.

    Thinking you can get to fifty transactions a year as the result of buying cold leads is just fooling yourself into wasting time and money.

    You asked how can you invest in your business, I stand by my original post. Invest your time and become the most awesome prospector you can become. Then you can start spending a portion of your earnings on branding and other ancillary and tertiary business practices.

    I am in marketing now and one of my niches and areas of expertise is marketing for Realtors. I never take on a client that is not a prospecting gorilla. The reason for this is that a person that becomes a master of prospecting will know exactly how to get appointments for a lead generated from marketing. A person that is not a professional prospector, will likely not understand how to get from a lead to a listing appointment and to a listing contract, at least not often enough to even cover the cost of the marketing.

    I manage 44 real estate marketing sites and the branding for their Realtors. Every one of these Realtors knows for a fact that their is no viable model that can be derived from buying leads. They will all tell you, you must build your real estate business with a strong presence in your community with social engagement. They will all tell you there is no value to the cold leads that real estate lead companies try to peddle to you. Everyone of my clients is a top five Realtor in their boards.

    I am telling you, because I care about you and every member of this forum, because I have the experience to be upfront and truthful, because I know how you can get to where you need to be with our real estate business, BECOME A PROSPECTING GORILLA and you can be at fifty transactions within two years maximum. Ignore me, and I guarantee you will be lucky to break ten transactions a year.

    Mike Ferry says, "Never stop PROSPECTING. New and seasoned veterans prospect EVERY DAY in order to achieve success."

    Bob Corcoran says, "Top producers practice real estate 101 prospecting really well everyday of their careers. By focusing on the basics you’ll build a more productive and sustainable real estate practice."

    Every real estate coach on the planet will give you exactly the same response. Call a few and ask them yourself. Mike Ferry will charge you $1000 a month just to give you the exact information I am giving you today.

    If you want to be a master of prospecting I can help.

    If you don't, you won't even be able to help yourself.

    T J
  6. Isaac Kieffer

    Isaac Kieffer Entrepreneur

    Thank you for the response! I apologize if you thought I didn't believe you! I totally understand prospecting is the name of the game, when I started 6 months ago I was calling 4-6 hours a day! Got myself 9 transactions in 3 months. Then now I have 6-8 transactions worth of money lying around that I feel I should be using to make my life easier or better. I understand 'Zillow" or "realtor.com" are not viable ways. Never spent a dollar on those kind of advertisements! I should of phrased the question better! But I was talking more about SEO, SEM, or Social media ad's. To be 100% honest with you, I don't want to prospect 4-6 hours a day like that! If that means ill fail then that sucks! Prospecting is a pain! But it get fantastic results, nobody can argue that.

    The point I am trying to point out, is the big realtor groups that have sales volumes of 600m$ are spending their money somehow to get to that point! Thats what I would like to know! Is it branding? Should I be spending my money on branding and having good social presence? Would hiring a person to do my prospecting do well? How should I scale the business?

    Thank you for everything TJ, its more help than you know!

    T J Tutor likes this.
  7. ReadmeByAmy

    ReadmeByAmy Entrepreneur

    I am a part time real estate consultant up to the present and I knew most people who are into this kind of work they do trust getting a lead on an online marketing, referrals and having their own website and this are where they usually get their clients or prospective buyers. And I also noticed that giving flyers is not that useful anymore. And one thing to get more leads you have to take care and prioritize well your clients so that they will refer you to their families, relatives and friends who might in the future have a plan also the services of a realtor.
  8. Isaac Kieffer

    Isaac Kieffer Entrepreneur

    I agree with having a strong referral program to maximize it that way as well! What kind of online marketing are we talking about? Buying space on someone else website, through social media, or Seo/Sem with your own website?

    Obviously nothing beats calling people for hours a day and being the master at scripts, but long term and passively i'm not sure how that works! My goal is to run a team of realtors, so would it best be spent hiring someone and just teaching them how to prospect or should I be able to provide them leads as well? I know many people in my market that actually get long term results off of direct mail and a few people in my offer who got leads off zillow, but those only lead to 2-3 transactions a year.

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