What Is Real Estate Lead Generation?
Real estate lead generation is the process of generating interest in a product or service for the purpose of creating a future sale or prospect.
There will always be real estate leads, but how they are being acquired is what is changing. Paid real estate lead generation and old school prospecting methods are dead or at least dying, but before you start writing me hate mail, just hear me out. I’ve been writing about attracting business for over 5 years because I personally saw the changes in buyer and seller wants and needs begin to happen in 2013-2014.
People didn’t want to be sold, they wanted to be served. Old school prospecting techniques like cold calling, prospecting FSBO’s, and expireds were not working.
The difference between real estate lead generation now and then…
That’s when I realized how important BRAND is. Today, anyone has the opportunity to look you up online before they respond to any of your marketing. There’s a reason why your About page is the #3 most visited page on anyone’s website. People look you up before they hire you. It’s the same reason you read the reviews on Travelocity before you book your next vacation. Think about it. Has anyone ever booked the vacation without any reviews? Hell no!
Would you hire you if you visited your website?
[click_to_tweet tweet=”If a large portion of your business relies on real estate lead generation a source you don’t control, then you are not running business, you are just another sales person chasing a check.” quote=”If a large portion of your business relies on real estate lead generation a source you don’t control, then you are not running business, you are just another sales person chasing a check.”]
The only real estate lead generation strategy that outlasts any market is having a strong personal brand.
What Do You Mean Real Estate Lead Generation Is Dead?
Let me first clarify what I mean by real estate lead generation is dead. I believe that many traditional “lead sources” are drying up for a number of reasons. Ultimately, what consumers expect from an agent has changed, so we must change with that and meet their requests. This includes how we “market” our business and why your brand is so important. it’s what sets you apart.
Agents with a strong brand presence will have a HUGE advantage over those that don’t for this reason. Your brand is what converts leads into prospects, which eventually turn into clients.
The future of real estate lead generation will rely on each agent’s own ability to attract customers vs. buy them
I’m not telling you any of this to scare you, I’m telling this to SCREAM IT FROM THE ROOFTOPS that when there is change, there is also major opportunity!
If real estate lead generation is dead, how do I make it?
You cannot build a brand without creating content.
Consistent communication to the same audience over time. Video is the fastest most cost effective way to do it.
Building A Hyper Local Real Estate Brand Is The Future Of Real Estate Lead Generation
In 2013-2014, I started to dive heavy into content marketing. I wrote blogs, created video content, and started just splashing it on my personal profiles. I rebranded to the ChicagoRealEstateDude and the “dude” became what people started calling me instead of Mike Cuevas. Before I knew it I had a brand that stood out, but the brand only existed because the of the content I created. I started ATTRACTING business through branding and generating attention, not just with me but everyone on my team too.
Today my podcast generates about 5,000-7,000 downloads a week and it was never once promoted in any type of paid advertising(It’s not the best but something I’m proud of for growing organically). I was consistently communicating to the same audience and over time and they started to listen.
The only reason you are probably reading this right now is because you somehow found me through some kind of content I created or through a group I create content for. I’m now able to create content for Real Closers because they found me through my content creation.
The content on my website demonstrates if I have the expertise they are looking for!
Content Creates Engagement. Engagement Creates Conversation. Conversation Creates Trust. Trust = Getting Hired.
The good news is that for you there’s no reason why you can’t do the same. Any real estate agent in the United States can RIGHT now commit to building a brand and in a 6-12 month time frame(or less) become a very well known name within their marketplace.
You have an unbelievable opportunity to steal the ATTENTION of your database and local community because let’s face it, who else in your market is really doing it with video? And that my friend is the opportunity in itself.
The question is, will you?
Why Real Estate Lead Generation Is Dead: Failure To Adapt
About 2 years ago I got a new car. I opted into a form online and I will never do it again for this very reason. Within about 5-10 minutes I started getting calls, emails, and even texts from all kinds of car salesmen. I have nothing wrong with car salesmen, but it was probably the most annoying thing ever.
Then, I thought to myself, “holy shit this is what Realtors do to people when they fill out a form on Zillow”.
That ? used to work, but today not so much.
What consumers expect from their agent has changed. No business can thrive doing business as usual when their customers expectations change. Not to be cliche, but remember Blockbuster, Taxis, AirBNB, etc?
Quit Doing What You Hate Being Done To You.
How are your expired campaigns going vs. 7+ years ago? How is door knocking today vs. 10 years ago? How is chasing FSBO’s working out for most agents? It’s not a coincidence.
Why Is This Happening With Paid Real Estate Lead Generation?
The Biggest problem has been that ALL these LEADS that have been sold you agent from Zillow, Realtor.com, and other online companies has been that they haven’t been followed up on.
This is a major reason why I think Zillow and Realtor.com have pushed towards a referral model. Guys like Tristan Ahumada from Lab Coat Agents are great at converting online leads because they have amazing systems behind them.
Although 80% of people found their home online, only 11% found their agent online
In my business, I don’t consider agents who sign up for my one of my offers a potential client, I call it a potential prospect. They are not a serious lead for me until they schedule a time to be contacted( schedule a demo with me on Calendly)
I create content to attract more business. If not how else would you find me? This post is just another example of that. It’s my content that will eventually determine if you want to schedule a time with me or not.
Are You Changing With Real Estate Lead Generation?
What are you doing differently on your follow up for leads?
“You will begin attracting business once you start creating consistent content in an authentic way. This is how you’ll build your brand”
You build a brand? when you create content consistently with the same audience over time. Think about brands you follow. If they were NOT omni-present, would you still have the same connection? Probably not, which is why creating content consistently is so important to building your brand.
Real Estate Lead Generation Targeting: Where Does The Business Really Come From?
Did you know that roughly 80% of closed business for real estate agents come from people they already know, used in the past, or personally met?
If 80% of business comes from people you know, then where should you place your energy and marketing budget?
I don’t know where our industry went so far down the “real estate lead generation” rabbit hold, but the truth is that most business is right in front of you.
Generating sign calls or open house contacts aren’t leads, those are prospects since they have already demonstrated intent. I would rather have two prospects than 30 online leads, what about you?
Referrals or potential repeat business that is inbound to you is not a lead, that’s a prospect.
I don’t know about you but I want to be the first agent they think of when they think of real estate. Creating consistent content helps accomplish that!
Real Estate Lead Generation Facts
10-15% of your network is moving this year and most don’t even know it yet. How many more referrals would you generate if every time someone thought of the word “Real Estate”, they thought of you?
At the same time, every person you know has the ability to refer you at least one person this year, but it’s hard for them to do that when they forget what you do for a living. In a referral dominated industry, top of mind brand awareness is everything.
When you create consistent content that reminds your network what you do for a living it just becomes a numbers game. People want to make one of the largest financial decisions they ever make with someone they feel comfortable with, not a stranger and certainly not a robot.
It’s not your database’s job to remember what you do for a living, it’s your job to remind them!
I am in the business of helping agents build a brand that attracts business through video content creation as opposed to real estate lead generation, so YES I have a not so hidden agenda of trying to sell you my shit, but it’s because I know I can help you. If you are serious about building your brand with video, I’d love to speak with you. Schedule a time to speak with me here.