With real estate markets softer (or maybe just back to normal) in many parts of the country, newer and experienced agents alike are finding it tougher to generate leads on their own.
That's one reason why it's so important to keep in contact with your client base as well as sphere of influence and prospects on a consistent basis.
While more consumers are plugging into the Internet to do their home searches, real estate agents are finding that some traditional forms of marketing, such as newspaper and magazine advertising, that in the past typically had consumers calling an agent for more information, are now significantly decreasing.
Now, into the picture comes lead-generating companies that offer to provide agents with home buyer and seller leads for a fee. Some companies charge per lead while other charge by subscription (often for 12 months).
I'm not here to judge the lead-generation companies or to talk about any specific ones. My point is that you need to research the various companies, their services and cancellation policies. Get everything in writing before you pay out your hard-earned money.
Also, you need to find out if only you are getting access to a particular lead or are many agents being sold the same lead. In addition, how fresh is the lead? How much contact information do you get with the lead? Ideally, you should be able to get their name, address, phone number, and e-mail address.
There is a lot of talk on many real estate forums out there about lead-generating companies. It appears that more of the talk is about how bad they are vs. how good.
I must insert here though that there are agents who sign up for these services and then don't follow up like they're supposed to and, of course, then they won't get the results that they were promised.
I would treat these leads like any other COLD lead, where the consumer doesn't know you or trust you. If you have the expertise to convert them to a loyal customer, then you'll be doing better than most with these leads.
You also need to remember that many of these leads may be months or years from doing anything (or will never do anything), so it's important to reach them ASAP to find out how serious they are and to let them know that you're available to serve them whenever they are ready. They should also consider you to be their resource and to not be afraid to contact you with questions.
Ask them if you can send them real estate market trends, statistics, and other information by e-mail or have them subscribe to your real estate e-zine or blog. That way you'll be able to show them that you are a real estate professional, who can help them when they're ready to make their move.
To your success,
Dan
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