I'm a new real estate agent out of Michigan and I'm curious what the most effective way to generate leads. I've done a lot of research on biggerpockets, YouTube and other sources for real estate information about advertising yourself, such as: direct mail, Facebook ads, google ads, newspaper ads, Zillow/realtor.com ads, word-to-mouth. There are many ways to do it, but what's the most effective and low cost, being as I'm a new agent? Any advice would be appreciated.
Facebook ads all the way!
@Andrew McManamon - as a new real estate agent you need to be focused on your sphere first. Read The 7 Levels of Communication by Michael Maher and that will give you great strategies at no cost to work your sphere. Be wary to spend money before you are ready to handle the lead flow and intake and more importantly, all of the bad leads that come with lead capture. Facebook is a great place to get leads through boosted posts giving value, but you need to spend a lot of time building your business page and website so that they show you as a professional agent who knows what they are doing.
One final note on Facebook advertising - unless you are directing a Facebook ad to a dedicated lead capture page and CRM, you are wasting your money.
Effective way to generate leads? Word of mouth, marketing yourself every day on all platforms, have a good CRM to maintain everything, open houses, knock on local neighbor doors and facebook. The key is to be consistent in your actions. You might not get business on the first day but make sure you are being productive towards your goals. Find a good system that you want to follow and execute it.
People are going to tell you ads here and there but the key is to have a good CRM that has a good front and back end that can capture all the information you will be collecting. If funds are tight for you, go door knocking as your way to generate leads. Find open houses to hosts for other agents and door knock 100-200 doors around the home and get to know the neighbors and invite them over so you can get to know them. Youtube has plenty of good resources for you to follow but find one that you can execute and go for it!