Online leads are a hot topic for many real estate agents who want to grow their business. Over the next few weeks I will explain how you can generate online leads, the technology you need, how to outsource it, and how much you need to invest.
A Strategy to Break Out of Your Sphere
If you rely exclusively on your sphere of influence for referrals you probably sell $2 or $3 million, each year. That’s not bad.
But after your splits with the broker and paying taxes you end up with less than $50,000 – hardly enough to support the lifestyle you envisioned when you got your license.
To expand your business beyond your sphere you have to market to people you don’t know, yet. You either prospect, cold-call, door knock or network, activities which do not cost you much money, or you invest in advertising.
The Benefits of Inbound Marketing
I am a strong believer in inbound marketing. This means you invest money to “advertise” so that prospects contact you.
We’ve built our real estate business that way, and we are doing it consistently. So, I know from personal experience that it works.
There are many benefits to inbound marketing:
- No need for cold-calling or door knocking
- No need to stalk friends and family for referrals
- You can leverage your time
- Easy to systematize and expand
Why Agents Like Facebook Advertising
When it comes to “marketing”, many agents are attracted to online and social strategies. As you can imagine the gurus figured that out, as well, and they are ready to sell you their systems.
No other strategy is more popular than Facebook advertising. It is way less expensive than Zillow, Realtor.com or even Boomtown or any of the marketing platforms that sell you $100 leads.
Most solo agents can’t pay thousands a month for these platforms, so Facebook advertising seems the best solution.
If you want to learn how to set up your own Facebook campaigns, simply google terms like “Facebook advertising for real estate”. You will find countless services that help you run your own Facebook ads.
The Process of Generating Online Leads
There are 3 steps to generate online leads:
1. Online Ads You create an ad on Facebook, Instagram, Google or anywhere on the Internet to capture the attention of the viewer. The goal of the ad is to get the viewer to click a link.
2. Landing Page After they click the link, the prospect ends up on a landing page that offers something of value in exchange for their name, email and phone number. You could offer a home valuation, a list of properties with specific criteria, or a report on how to get your home sold quickly.
3. Follow Up System Now that a lead has been captured you try to contact them and stay in touch for a long time. This system is probably the most critical if you want to have success with online leads.
In 2019 I noticed a paradigm shift in online lead generation which mostly affects the follow up systems.
More on it next week …
Don’t hesitate to contact me with your marketing questions at (614) 395-7375. I wish you a wonderful week!