How Do You Find Leads?

10 Replies

Greetings, Makhwarand!

I've recently became a Realtor as well.  My initial attempts have been to create a FB business page, and add as much content as I can, in hopes of staying in front of my contacts. I've also been touring homes of new construction subdivisions, speaking with builders to gain some additional insight. Next week, I'll begin holding open houses for fellow agents in an attempt to drum up some buyers. My broker also has "phone duty", where you could potentially grab a leasing tenant (in hopes that they'll eventually be a buyer). 

All that said, I'm still new, so we'll see how the results turn out. I'd like to see what some of the veterans have to say. What all have you done so far? 

I am also a new agent as well, I guess that makes me the "Hat Trick". At this point, I just organized all my existing contacts into various groups: Colleagues, Professionals, and so forth. In the near future, I plan to reach out to FSBO owners or absentee owners as possible sources for leads and possibly hosting other agents open houses as well.

I would recommend to work your sphere of influence first. As a new agent myself, I also have been considering what gives the best bang for your buck. You're most likely to gain leads and clients from the people that already know you and trust you the most. (And you'll end up spending the least on these leads, since people who like you are going to recommend you to others). 

@Joshua Guenter

Theres countless ways to generate leads... this can be social media, sphere, farming, postcards, door knocking, cold calling, open houses, the key is to learn and implement, you need to prepare to "test" for at least 6 months. Nothing will happen overnight, and you need to stay consistent 

Hey Makhwarand,

That's a really good question. I try to have a balance of forms of lead generation. 

Here's my breakdown:

-50% phone lead generation (Cold calling old expireds/FSBOs)

-35% face-to-face meetings (Open houses, door knocking, REIA meetings)

-15% social networking websites (BiggerPockets) 

All the ideas listed here are great tried and true methods. However, some are very time consuming and produce limited results.

Now this might not be for you, but there is a far better way to reach this people relentlessly month after month until they are ready to sell. Plus the same platform can put you in front of BUYERS before your competition even knows they exist, poach clients from THEIR open houses, put you in front of people who visit websites like Trulia, Zillow, Realtor, etc. (even when they don't fill out a contact form) as well as visitors to your competitors. If you want more details to see if you are a good fit for the program, let me know and we can set up a phone call to discuss. 

Ample personal contact. The successful agent gets most through SOI or being in front of right people.

Internet leads are the least reliable source. Be lucky to convert <1 %. 

It can come down to whether you wish to spend time versus money.  

I chose to spend time, meaning I held open houses every weekend in my first year, sometimes 2 per day, grew my SOI and stayed in touch regularly with MLS feeds, emails with useful information, video texts, etc., and I was new to the city so had no pre-existing SOI. Also investor meetings and volunteer work. Plus I prefer meeting people face to face which establishes a relationship and possibly loyalty.

 Now I’m so busy, and am even getting referrals from lenders and a retiring Broker.

The time saving way is paying for leads on Zillow, Realtor dotcom, your own website, Facebook ads, etc.  

Or some combination of things might be best for you.  Good luck!!