If you want to create a client attraction chain reaction, you need to focus on multiple streams of income and multiple lead sources.
With over 27 years of experience in the field, including 18 years as a builder, real estate agent, and broker owner, I’ve always been an active investor and always pay attention to lead generation because without it—well, we have no business.
Here are my top five leading sources for finding home sellers as an active investor.
The 5 Main Lead Generation Sources I Use to Keep Deals Coming In
1. Virtual Assistants
There are many virtual assistant companies and individuals available to help you with your seller and buyer calls. I struggled through three of them and was ready to throw in the towel. Then I found an amazing company that trains well and is very well scripted and constantly improves. I hired them and have been with them almost six years with the same person.
Related: How to Find the Correct Virtual Assistant for Your Real Estate Marketing Needs
Virtual assistants will become an integral part of your team when utilized properly. They all charge differently. I personally spend between $125-$135 per week for six to eight hours of calling. This produces approximately 12-18 leads weekly for me, so two to three per hour including the sourcing time they have to do. They send me fully filled out property information sheets on a daily basis. This assures you that you’re only speaking with quality leads that want to speak with you.
2. For Sale by Owners
These are always a good lead source. You can source them yourself online and call them yourself, or you can hire virtual assistants. I prefer both. If you’re just starting and have a limited budget, you can start by sourcing them yourself and calling them yourself. I started that way at a few hours a day three to four days a week. It will only take one deal to then have some funds to use for hiring your first virtual assistant. You can also get them via “for sale by owner” signs. I suggest you drive a different way to work or to wherever you’re going each time you’re out and go through different, new neighborhoods. Eventually, you’ll run into signs.
3. Expired Listings
These are listings that real estate agents had on the Multiple Listing Service (MLS) that didn’t sell. I personally love these because sellers tend to already be frustrated, having not sold with an agent. This will many times translate into immediate appointments, as opposed to the “for sale by owner” sellers, who typically need some time. Where do you get expired listings? It used to be that you had to work with someone who was licensed to get them. Now there are services that offer them, so it is super easy to get a constant feed of them.
4. Direct Mail
Like each of the above, direct mail could serve as your standalone marketing source to feed your business enough leads. You can generate these letters and target all kinds of lists, so you can get very specific and never ever run out of potential campaigns. I use MelissaData.com for my lists, but there are many companies that can and will sell you lists. I then use a done-for-you service. They create, print, stamp, and send the letters to us to drop in the mail. It cannot get any easier than that. The letters we use are in handwritten font and made to look like we wrote them out on a yellow pad of paper. They’re mailed in invitation-type envelopes so they get opened and not tossed in the waste basket.
5. Print and Online Ads
You or your staff should always be running free online “I Buy Houses” ads. Why not? You can search on Google for free classified sites in the areas where you work and find plenty of them in addition to Craigslist. I haven’t gotten slammed with calls from these, but it’s another lead source.
Investors: What’s your favorite lead source? Anything you’d add to this list?