Leads are the lifeblood of the real estate business. Learning how to attract leads is essential to success when buying or selling a property. And mistakes that stop you from attracting real estate leads will send your career in real estate to a premature end. For those unfamiliar with the term, what is a real estate lead?
Real Estate Leads
There are people who want to sell their home and there are people who want to buy a home. And there are people who are just fine where they are. Real estate advertising reaches all of these people and is wasted on those who are not interested. What fast tracks the real estate business lead. A lead is an information about a potential buyer or seller. These folks are obviously more receptive to your offer to help them buy or sell a home. What will often kill a career in real estate are the mistakes that stop you from attracting real estate leads.
First Fatal Mistake: Not Following Up
Ignoring your clients after the closing is the first mistake that stops you from attracting more real estate leads. A satisfied customer talks about their experience with their friends and colleagues. An important source of leads for an established realtor is their pool of former clients. Don’t forget to follow up with a thank you after the sale of a property and it never hurts to send yearly birthday greetings or to use some other excuse to keep your name in front of previously satisfied customers.
Fatal Mistake Two: Not Going After Expired Listings
A lot of people do not have a good experience trying to sell their home. They list the property, no one shows up, and the listing expires. There can be several reasons for this to happen. If you are looking for more leads in the real estate business, follow up on expired listings. Send a letter or postcard. Send an email. Make a cold call. And make sure to have a script to follow when you make contact. These folks are not happy and you need to present yourself as a viable alternative to the realtor who, in their mind, was responsible for the property not selling.
Fatal Mistake Three: Not Going Where the Action Is Online
We live in the age of the internet and social media. How many Facebook friends do you have? How many people start their search for a new house or apartment by mentioning it to their friends on Facebook or other social media sites? If you already use Facebook it is a mistake not to use the search tools and look for leads associated with moving, packing, house hunting, your city, and more. Facebook alone has more than 200 million active users in the USA. Unless you already have more work than you can handle, you are making a mistake to ignore social media.
Fatal Mistake Four: Ignoring For Sale By Owner Listings
A lot of folks do not want to pay a commission for getting their home sold. And they believe that they can do the job just as well as a real estate professional, thank you very much! So, they put up a sign in the front yard and advertise on Craigslist. Unfortunately, for these people, nine of ten times they fail to sell their home. You in the real estate business know that there is a lot of work involved in selling a home. The “for-sale-by-owner folks” will learn this with time. It is a mistake to ignore these listings as they will come to their senses. And it works best for you when they do if they have your business card in their hand or email in their inbox.