Successful realtors, what do you do to get new clients, what would you recommend for a new agent?
What leads do you think are best? I’m leaning more towards calling fsbos and pitching them on doing business with me. Has anyone had success with this? What can I expect?
There are also Zillow leads that I’m planning to spend $1000 a month on, are they worth it?
Last but not least there are services such as agent pronto and homelight. Has anyone used them before?
Investor · Argyle, TX · Member since 2014 · 112 posts · 73 votes
6y
Calling FSBOs can work but isn't easy. As Brad said, you'll be one of many agents calling the sellers trying to poach their business. But many agents do this and make a good living on it. The key in my opinion is to be able to offer value. Once they have been on the market for a few weeks, call and ask how things have been going. What feedback have they gotten? Then offer to give them your feedback as a successful agent. Ask to view the home, then give them your opinion of the home, price, etc. Offer suggestions on how to stage better, have better pictures, etc. Talk to them about their home just like you would any other seller/client. Try to build rapport. You may waste time doing all of this, but you may also impress them. Maybe they will come to you if they don't sell soon after, or maybe they will refer you to someone else. Building a name for yourself by providing useful insight will go a long way.
Zillow can be hit and miss as well. Most of their leads don't turn into anything, but some do. If you can get one lead a month to turn into a transaction then the marketing paid for itself. We have found that staying in front of the lead and establishing yourself as the most knowledgeable agent in the market makes a big difference.
There is no perfect formula for generating leads. But having multiple sources is important, and buying leads is a good way to get started until you can build up your referral base. Good luck.
Real Estate Agent · Las Vegas, NV · Member since 2017 · 279 posts · 133 votes
6y
Honestly...They are all expensive and garbage. Calling FSBO's and expireds will make you one of the 10,000 agents calling those same leads. Zillow leads are garbage when compared to the quality and expense of obtaining leads organically. Homelight is also garbage. I've had a profile on there with dozens of previous transactions, reviews, awards, etc...Not one lead from them. Not my most positive post/response but as a new agent, you should know the truth. As an agent, everyone is out to get your money. You could literally eat lunch everyday for free for the rest of your life if you're willing to waste your time being pitched by any of the 10,000 companies looking to sell you something. Protect your time, protect your money, and get out there to "press the flesh." Knee-cap to knee-cap, face-to-face contact is your best means of prospecting. If that's door knocking, networking, SOI, whatever, it's far more deserving of your time and money than any source that wants you to buy leads from them.
IF you are able to find a lead source that only wants payment after closing, as a referral, that is worth your time but there's a reason Zillow and the rest don't operate that way. And that reason is because they know they are selling you garbage. The same exact garbage their selling every other agent in your area. (Zillow sells their leads more than once, usually as a shell company that doesn't appear to be a Zillow affiliate but that's how they can claim your leads are "exclusive to you" as they sell them on a dozen other platforms)
Investor · Argyle, TX · Member since 2014 · 112 posts · 73 votes
6y
Calling FSBOs can work but isn't easy. As Brad said, you'll be one of many agents calling the sellers trying to poach their business. But many agents do this and make a good living on it. The key in my opinion is to be able to offer value. Once they have been on the market for a few weeks, call and ask how things have been going. What feedback have they gotten? Then offer to give them your feedback as a successful agent. Ask to view the home, then give them your opinion of the home, price, etc. Offer suggestions on how to stage better, have better pictures, etc. Talk to them about their home just like you would any other seller/client. Try to build rapport. You may waste time doing all of this, but you may also impress them. Maybe they will come to you if they don't sell soon after, or maybe they will refer you to someone else. Building a name for yourself by providing useful insight will go a long way.
Zillow can be hit and miss as well. Most of their leads don't turn into anything, but some do. If you can get one lead a month to turn into a transaction then the marketing paid for itself. We have found that staying in front of the lead and establishing yourself as the most knowledgeable agent in the market makes a big difference.
There is no perfect formula for generating leads. But having multiple sources is important, and buying leads is a good way to get started until you can build up your referral base. Good luck.
Real Estate Agent · Waterbury, VT · Member since 2018 · 151 posts · 65 votes
6y
@Andre I. don't spend that much money when you're first starting out! make sure you're at a brokerage that is going to train you on all this stuff so you don't have to go to biggerpockets to learn how to start out in real estate!
You have to be willing to call. FSBOs and expireds are a great way to start and you will have a lower conversion rate but it's free and you shouldn't be spending a lot of money on leads before you make any money. Call literally everyone you know and ask them for business. Network. If you want to pay for leads, try some small spends on fb ads.
@Brad Bellstedt@Martha Nowlan@Gabe Waldrep what do you think about doing free listing and open house for FSBOs to capture buyer clients and offering to do a open listing agreement where they don’t pay if they don’t sell with you at the open house to the seller.
Rental Property Investor · Tucson, AZ · Member since 2019 · 173 posts · 87 votes
6y
@Brad Bellstedt
You're 100% correct. The 90% that quit didn't have the marketing capital or the courage to go boots on the ground. Geographic farming boots on the ground, direct mail, calling the farm area is in my opinion, the best way to get business starting out. People thinks there's too much competition but all someone need is to find 1 subdivision with 500-1000 homes that has a high turnover of home owners and market to them every other week for a whole year.
This is the best way to get business when you're beginning. Everything else is garbage. People try marketing to an entire state of 10 million people and fail miserably.
Real Estate Agent · Waterbury, VT · Member since 2018 · 151 posts · 65 votes
6y
@Andre I. Solid idea. Make sure you check with your broker about the rules on that and how the listing agreement needs to be arranged or worded to fit local mls policies and/or broker policies. You can also ask other agents if you can host open houses for them on their listings. A lot of experienced agents hate doing open houses but their sellers want them. So you can call other agents and give it a “id love to help you and your sellers get more exposure” twist. Feel free to pm me for more ideas.
I started my career on fsbo listings. Some of them sucked but it was a great way to learn and get rolling and build confidence. Practice practice practice.