Agents: How do you find buyer and seller leads?

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Agents: How do you find buyer and seller leads?

Anthony Katsonis
Realtor and Investor · Placerville, CA · Member since 2013 · 130 posts · 59 votes

Just curious what's working for other agents out there as far as lead generation is concerned. I am following the Buffini path and trying to develop a referral based business, but in the meantime I'm looking to see if there's any other creative ways tot grow my database. Thanks in advance.

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Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
7y

I speak at REIAs and real estate meetups, referrals, repeat clients.  There is a saying, there are riches in the niches.  I find it much much easier have a niche than being a generalist.  

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  • John Warren
    Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
    7y

    @Anthony Katsonis I have found referrals to be the best route by far. Most of my business comes from referrals at this point, and the rest of the business comes from the normal channels (direct mail, meetups, cold calling, etc). The realtor business isn't complicated. Continue to provide excellent service for several years and you will have plenty of referrals. 

    8Reply
  • Anthony Katsonis
    OP
    Realtor and Investor · Placerville, CA · Member since 2013 · 130 posts · 59 votes
    7y

    @John Warren

    I like it. Thanks for the advice. So what you're telling me is, there's no shortcuts ;)

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Anthony Katsonis:

    Just curious what's working for other agents out there as far as lead generation is concerned. I am following the Buffini path and trying to develop a referral based business, but in the meantime I'm looking to see if there's any other creative ways tot grow my database. Thanks in advance.

     Marketing man. It's a marketing business more than anything. Focus your efforts & budget on marketing to sellers & the buyers will come free of charge.

    5Reply
  • May Emery
    Specialist · Member since 2019 · 494 posts · 220 votes
    7y

    @Anthony Katsonis I agree with @John Warren about needing to get multiple channels going to get leads. If you work with a list broker they can help to find seller leads that you can mail to. Think about Seniors with 15+Year Ownership. They are often ready to downsize or transition to assistance. 

    2Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    7y

    I speak at REIAs and real estate meetups, referrals, repeat clients.  There is a saying, there are riches in the niches.  I find it much much easier have a niche than being a generalist.  

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    8Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Russell Brazil:

    I speak at REIAs and real estate meetups, referrals, repeat clients.  There is a saying, there are riches in the niches.  I find it much much easier have a niche than being a generalist.  

    Agree. It's hard to be efficient unless you operate in a niche. Efficiency is key. Efficiency is almost as important as marketing.

    2Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    7y

    @James Wise

    And you and I are both operating in niches. (Similar though not exact niches). Also when you have a niche, I think it is easier to market, because that marketing can be so targeted, and thus get a better return on that marketing dollar. I can spend like $100 on a more targeted facebook ad campaign and get similar results to the generalist that drops $1000 on a campaign that's less targeted.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    4Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Russell Brazil:

    @James Wise

    And you and I are both operating in niches. (Similar though not exact niches). Also when you have a niche, I think it is easier to market, because that marketing can be so targeted, and thus get a better return on that marketing dollar. I can spend like $100 on a more targeted facebook ad campaign and get similar results to the generalist that drops $1000 on a campaign that's less targeted.

     Yup. As they say... Jack of all trades, master of none.

    3Reply
  • Cassi Justiz
    Rental Property Investor · Edmond, OK · Member since 2017 · 1k+ posts · 1k+ votes
    7y

    I've been doing the Buffini course as well. It's been hard for me tap into a large database because I don't have a lot of the "core network" that they really talk about. (I moved to the area as an adult, didn't go to school here nor do I have kids or a church group). But I did have a W2 job and have met some people since living here. So I utilize that by posting real estate stuff on social media at least a few days a week. I do a fb live at every open house that I do *as long as it's okay with listing agent* (and try to do the occasional new construction super high end open house). I've had several former co-workers reach out because they've seen that kind of stuff. I've also been really open with people that I'm investing, so that starts a lot of conversations too. 

     I've also been going to as many of the local meetups and REIAs that I can handle. Just in general, I try to get out more and talk to people and let them know what I do. I would NEVER do that before. If they are somewhat interested in real estate or investing, then I try to set up a coffee meeting to see if there's a way I can be helpful to them. 

    3Reply
  • Teri Feeney Styers
    Real Estate Agent · Grand Junction, CO · Member since 2015 · 1k+ posts · 736 votes
    7y

    @Anthony Katsonis what are your hobbies? My hubby is a high performance race car guy and hangs with like minded fellows. Those "car guys" love great garages so I focus on that as one of my niches. Post pictures of listings with big shops and photos of happy buyers in front of their new giant garage, sponsor flyers at the local drag strip, etc. Maybe you can figure out your "niche" and help people that way... 

    2Reply
  • Michael Fialkowski
    Real Estate Broker · Fishers, IN · Member since 2018 · 13 posts · 13 votes
    7y

    @Anthony Katsonis

    There has been a lot of good information already shared, sellers vs buyers, finding a niche, etc... But as a fairly new agent that didn’t have a large personal sphere to tap into, the biggest key for me so far is being consistent. Making calls daily to my niche, and focusing on sellers. Sometimes you get a listing, other times you get a lesson.

    I’m sorry to burst the bubble, but there is no magic pill.

    6Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Michael Fialkowski:

    @Anthony Katsonis

    There has been a lot of good information already shared, sellers vs buyers, finding a niche, etc... But as a fairly new agent that didn’t have a large personal sphere to tap into, the biggest key for me so far is being consistent. Making calls daily to my niche, and focusing on sellers. Sometimes you get a listing, other times you get a lesson.

    I’m sorry to burst the bubble, but there is no magic pill.

    Great points. The consistency is where the majority of agents fail. They do their calling or marketing for a short period of time. If they don't see immediate results so they just give up. Marketing doesn't work that way. It's a long term grind. You are prospecting people to fill up your pipeline, not make immediate sales. It's all about keeping a long term mindset & a constant flow of new leads getting put into your pipeline.

    4Reply
  • Kyle McKnett
    Real Estate Agent · West Chester, PA · Member since 2018 · 63 posts · 46 votes
    7y

    @James Wise

    I have a rule of thumb that if I start doing a specific type of lead generation I stick with it for a minimum of 6 months. Learned that from my broker a while back. If you only try something for a month or two you are giving it very little chance of success and most likely are wasting a good bit of time.

    2Reply
  • Anthony Katsonis
    OP
    Realtor and Investor · Placerville, CA · Member since 2013 · 130 posts · 59 votes
    7y

    @James Wise

    I absolutely agree. Sales and marketing is the lifeblood of the business, and I'm of the belief that if I'm gonna spend money on marketing, I'm going to market to sellers for listings. Couldn't agree more. I do just listed/just sold cards to a farm around my listings. Do you have any other pointers on ways to market to sellers? What do you find works best for you? Thank you!

    1Reply
  • Anthony Katsonis
    OP
    Realtor and Investor · Placerville, CA · Member since 2013 · 130 posts · 59 votes
    7y

    @May Emery

    Absolutely. I have a title company that'll give me lists of addresses, etc. of "likely to sell" homeowners. Thanks for the tip on seniors with 15+ years ownership, I'll implement that in the future!

    0Reply
  • Anthony Katsonis
    OP
    Realtor and Investor · Placerville, CA · Member since 2013 · 130 posts · 59 votes
    7y

    @Russell Brazil. I do need to hit some REIAs... I need to network more for sure. 

    I like that, "The riches are in the niches." 

    As a veteran and an investor, I'm trying to build my brand as a Veteran and Investor friendly agent. I'm sending direct mail to Homeowners with a VA Loan, networking at VFW, I'm a referral agent for Some VA Lenders... I'm working it. I appreciate the solid advise!

    1Reply
  • Anthony Katsonis
    OP
    Realtor and Investor · Placerville, CA · Member since 2013 · 130 posts · 59 votes
    7y

    @Cassi Justiz

    You doing Peak Producers? I'm on week 4, loving it so far. Sending out the personal notes and newsletters, etc. It's a lot of work, but I'm getting the hang of it and actually starting to enjoy it.

    Yeah I'm trying to utilize the "Mayor Campaign" when I meet new people and we get to chatting. It's difficult not to come off too pushy or salesy. I like your idea about FB Live @ open house. I'll give that a shot next time I'm doing an OH. Thanks for the advice!

    0Reply
  • Anthony Katsonis
    OP
    Realtor and Investor · Placerville, CA · Member since 2013 · 130 posts · 59 votes
    7y

    @Teri Feeney Styers - 

    Hmm... Hobbies.... Real Estate I guess? LOL. Nah, I like rock crawling, guns, working out, etc. I will keep that in mind, thanks for your input!

    @Michael Fialkowski - 

    I dig it my man! Consistency is key. Absolutely. Sometimes a listing, sometimes a lesson = GOLD. Thanks for that!

    Thanks for all the input guys! I got some new ideas, and definitely some encouragement that I'm on the right track and just need to keep it up and stay consistent. Rome wasn't built in a day, as they say. I'm just grateful that I'm not dependent on my real estate sales income to survive. LOL. I mean I'm closing deals, but man it's a lot of work. I'm looking forward to when I'm working mostly listings and not having to depend so hard on buyers, they are labor intensive. Thanks again everybody!

    1Reply
  • Mark Christopher Javier
    Los Angeles, CA · Member since 2017 · 73 posts · 29 votes
    7y

    @Anthony Katsonis

    My team and I are hustlers so we typically cold call and doorknock especially when we all just started out. For the most part even your sphere won't trust you until you have a few deals under your belt. On the brightside LA typically has great weather all year long so can't complain when doorknocking =).

    2Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Kyle McKnett:

    @James Wise

    I have a rule of thumb that if I start doing a specific type of lead generation I stick with it for a minimum of 6 months. Learned that from my broker a while back. If you only try something for a month or two you are giving it very little chance of success and most likely are wasting a good bit of time.

     That's a good rule. Without at least 6 months you don't have enough measurable data....Great job. Keep up the good work.

    1Reply
  • James Wise
    Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    7y
    Originally posted by @Anthony Katsonis:

    @James Wise

    I absolutely agree. Sales and marketing is the lifeblood of the business, and I'm of the belief that if I'm gonna spend money on marketing, I'm going to market to sellers for listings. Couldn't agree more. I do just listed/just sold cards to a farm around my listings. Do you have any other pointers on ways to market to sellers? What do you find works best for you? Thank you!

    Market the hell out of your listings. Agents get listings & think they don't need to market them because the MLS will bring them a buyer. No dude, market the listings like crazy. Spend some $$$ on them. Doesn't matter if a buyer comes from the MLS or not. The next seller is going to see you putting in a top notch effort compared to Bill down the steet who slaps up a sign, offers 3% on the MLS & calls it a day.

    1Reply
  • Chase McArthur
    Specialist · Washington, DC · Member since 2019 · 177 posts · 150 votes
    7y

    @Anthony Katsonis

    It appears I'm in a different boat from most of you as I am in commercial real estate. However, as previously stated, finding a niche and becoming the best within that particular asset is always the best approach.

    Specialization is my niche as I only deal with multifamily investment properties. By specializing I have become an expert in a certain class of assets which affords me the ability to approach potential clients as an advisor first and an agent second. It may not produce immediate listings but eventually everyone sells. If they aren't selling assets they are expanding portfolios so either way business is generated.

    As for generating new business, its all about beating up that phone. My business strategy when contacting prospects isnt about hounding them about selling their property, it's simply to establish and grow a relationship. Most of the time, unless the client brings it up sooner, I dont even mention listing their property until the 2nd or 3rd meeting, sometimes I even advise against it, at least temporarily.

    And no matter how many listings I have, I always make time to go back to the phones every week.

    2Reply
  • Anthony Katsonis
    OP
    Realtor and Investor · Placerville, CA · Member since 2013 · 130 posts · 59 votes
    7y

    @Mark Christopher Javier

    Yeah, I've done a bit of that too. Not afraid to do it, It just isn't for me. Certainly not the type of lead generation I want to implement in my business long term. I will say though, I was able to get some deals under my belt in my first year from cold calling. Got 12 closed in 9 months. Thanks for the input, very much appreciated!

    1Reply
  • Anthony Katsonis
    OP
    Realtor and Investor · Placerville, CA · Member since 2013 · 130 posts · 59 votes
    7y
    Originally posted by @James Wise:
    Originally posted by @Anthony Katsonis:

    @James Wise

    I absolutely agree. Sales and marketing is the lifeblood of the business, and I'm of the belief that if I'm gonna spend money on marketing, I'm going to market to sellers for listings. Couldn't agree more. I do just listed/just sold cards to a farm around my listings. Do you have any other pointers on ways to market to sellers? What do you find works best for you? Thank you!

    Market the hell out of your listings. Agents get listings & think they don't need to market them because the MLS will bring them a buyer. No dude, market the listings like crazy. Spend some $$$ on them. Doesn't matter if a buyer comes from the MLS or not. The next seller is going to see you putting in a top notch effort compared to Bill down the steet who slaps up a sign, offers 3% on the MLS & calls it a day.

    Great advice my man! And then of course, the "sign calls" from the marketing are the added bonus! All the while your current seller that you are serving sees how hard you are working for them and how much $$$ you're spending to get their home sold. Love it - thanks again!

    1Reply
  • Anthony Katsonis
    OP
    Realtor and Investor · Placerville, CA · Member since 2013 · 130 posts · 59 votes
    7y

    @Chase McArthur

    I dig it. The 500lb phone, as they call it. I do the same thing, when I actually make the calls. It's all about deepening the relationships with my sphere, and trying to stay top of mind for when they want to buy or sell, or know someone who does. That's why I love the Buffini approach, as it's a relationship rather than a transaction based mindset. Thanks for the input! Much appreciated!

    1Reply
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