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Lead Generation Ideas

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Leads are the life and blood of your business. Statistics show that out of about 300 leads 30 of them will buy what you are selling and 3 of them will stick around with you. You need to have a lot of …

Leads are the life and blood of your business. Statistics show that out of about 300 leads 30 of them will buy what you are selling and 3 of them will stick around with you. You need to have a lot of leads 

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  • Top SlideWanna have a successful and profitable business? Then you need leads… and lots of them.Nothing happens without a lead. No sales, no revenue, no profit, no nothin’.Below are 10 ways to generate MORE leads without spending a bundle.But before we get to the list, there are a couple of lead generation ground rules you should be clear about. Without understanding these, you can end up wasting a lot of time and money.Success comes from executing the basics WELL. Generating leads is not complicated, it takes 3 things:a great offerputting that offer in front of the right peoplea reason to act nowLeads are the life and blood of your business. Statistics show that out of about 300 leads 30 of them will buy what you are selling and 3 of them will stick around with you. You need to have a lot of leads 
  • Success comes from executing the basics WELL. Generating leads is not complicated, it takes 3 things:a great offerputting that offer in front of the right peoplea reason to act now
  • Many times I will over hear one of my Real Estate Agents complaining to a colleague about a past client listing their home with another REALTOR®Understandably, they are pretty upset over this and don’t know what they did wrong not to keep the clients loyalty. Once I have them in my office and have calmed them down a little, we go over what could have gone wrong and why they didn’t get the listing. After the Agent explains their previous deal and the hours they worked together, I offer them an alternative way of thinking about their business, so hopefully it won’t happen again.Most of the time in my experience, it is the Agents fault. Yes that’s right, it’s the fault of the Agent or the REALTOR® , and not the client.This situation occurred because of one of two things:Competance and CareThe seller didn’t think you were the right person for the job based on your ability to get the house sold. Perhaps they felt that you didn’t have enough experience. Maybe they thought you left money on the table the last time you negotiated for them. Or you don’t get back to them quickly or often enough when they call you. All these are valid reasons why someone may choose not to work with you again.BUT 9 TIMES OF OUT 10 IT IS BECAUSE THEY FEEL THAT YOU DO NOT CARE ENOUGH ABOUT THEM.C.A.R.E – CONTACT AND RETAIN EVERYONEI always ask the Agent the following. “When was the last time you spoke to your clients?” This is when I get many different answers from “last week” to “when I sold them the house”. Obviously the first answer is much better than the second.The reason that most people are not doing business with us again and again is because we are not showing them how much we appreciate them as a client. In today’s instant gratification world, people need to know how much we care about them. We need to remind them often, because when it is time to make a move, they will use someone who happens to appear right in front of them at that time.The more you appreciate your clients and remind them how important they are to your business, the more loyal they will likely become. If they are more than satisfied with your services then why would they ever go somewhere else? Loyalty is earned it is not given or assumed. Real Estate Agents forget this. If we can put the onus on ourselves to stay in touch more, then we will have a much better ratio and a much better year!YOU CAN’T WIN THEM ALL, SOMETIMES THEY ARE GOING TO USE SOMEONE ELSE.This is just human nature. You will not get every listing or sale, people can change their minds, but if we can stay top of mind the chances of this happening will be less and less.This is just a fact of life. We can never honestly know why we may not get every deal, but we can do our best to never let it happen again.If you can continually grow your Database and have a good system for keeping in touch that you work daily, then there should be no reason why you can’t be hugely successful. I want all of you to have an amazing year, and this is just a great way to make sure everyone does.So get out there and Attack Your Database, get in touch with all your past clients again, start fresh if you have to. Get a system in place where you work at it daily. Go see your clients. Take them out for Lunch. Phone them, and write your Personal Notes. If you can do this for an hour a day, each and every day, you will be on the path to great success and an amazing Real Estate Career!
  • Statistics on REALTORS® and Technology Slide 2 55% of agents and 49% of brokers spent between Rs. 31,142.16 – Rs. 1,24,320 on technology for their business in the last 12 months.The top three tools that respondents plan on purchasing or replacing in the next year are: smartphone (18%); iPad (20%); and digital camera (10%).The most frequently used operating system is Windows 7 (47%).The most popular smartphones are Android OS (37%), iPhone (45%), Blackberry (5%).89% of REALTORS® use social media to some extent.
  • First, realize that you already have a sphere of influence. You have family, friends, old schoolmates, previous business associates, soccer buddies, and more. These are people that know you, and just because of that, you have some influence on them.Throughout your career in real estate, you should always have a plan to grow this group and implement it faithfully. This will become a huge source of repeat and referral business over time.1. Get your current list all in one place.This is a big task, but it's important and begs planning to avoid duplicate work later. You'll be surprised at how large a list you can come up with when you start pulling in your friends, old classmates, sports team members, business associates, your doctor, lawyer and others.What is important is to hopefully start with something more than a list on paper. If you use Outlook in your computer, use that contacts database or another like it to get these people into a system for management.2. Make contact the way you usually do.This has to do with being effective, but also saving some money. There are plenty of advisors out there that will have you develop a really nice letter in envelopes and mail via first class mail. This may be how you do it for some of your list.However, if you're making a really large contact list, many of them will be people you usually talk to via email, text messaging or phone. It's OK to contact them the way you always have. Just split your list into groups by contact method. 3. Go ahead and categorize by how you know them.As you progress in your career and your knowledge of contact management, you'll find that you want to have certain common types by which to identify contacts. Go ahead and start working toward that now. If you're using Outlook, you can use the "Categories" function for this.You would have categories for Friends, Family, Vendors (doctor, lawyer, local grocer,etc.), Buyer Prospect, Seller Prospect, etc. The buyer and seller prospect categories are for those new ones you're about to get. 4. Develop your announcement content and send it out.If you're contacting via several methods, such as some email, some mail and some phone, develop scripts for each, letting them know about your new business. It's as simple as : "Hi XXX, I've started a new career and wanted to let you know about it. I've gotten my license and I'm now a real estate agent with XXXX Brokerage in town. Please give me a boost by thinking of me if you're planning a real estate transaction or recommending me to those you know." Don't forget your contact info.5. Plan ongoing contact and do it!Now that you've sent out your "new agent career" announcement to your SOI, make a plan for how often you want to contact them. This can vary by type, such as family will not need a lot of follow-up, etc. Follow the plan and make regular contact. There's nothing worse than finding out a good friend bought a home elsewhere because they forgot about that first announcement a year ago.6. Do some quick list-building activities.Get started immediately in adding to your sphere of influence list. Get involved in community activities, go to homeowner association meetings, give out your business card to the person behind the dry cleaner counter. If you go for coffee in the mornings alone, stop getting a table and sit at the counter. Strike up a conversation with the person next to you.
  • SIGNSAlways remember that a sign can be the first thing a potential buyer sees in your home. Having a professional, sharp looking sign can be an effective way to attract people to your home. With clients inside, that sign could lead to a successful sale!The size of your real estate signs is also important. You want a sign that can be read when someone is driving by quickly. If you have this little 1 foot by 1 foot sign and the person has to strain to read it they may just keep going. You want to look for a sign that is at least 18×24 inches. This is the standard sign but it doesn’t hurt to go bigger.
  • Using a targeted direct mail campaign can be an important marketing tool for real estate agentsTo really increase your referrals, you need to use all three. That’s because we live in a multimedia world and people respond to different forms of communications in different ways. So, to maximize referrals, you need to create a multi-sensory real estate marketing experience where prospects and clients are hearing from you in a variety of formats.A well-designed, well-written direct mail newsletter is your most valuable real estate marketing piece. Yes, it’s more expensive than an email or social media tweet, but it makes the best impression on those who receive it.A direct mail newsletter – designed the right way and featuring valuable content — has high perceived value. Your contacts know they are on your “most important” list when they see it in their mailboxes.The only downside is the expense. Because direct mail involves printing and mailing, it costs more than email and social media.That’s why you should only send a direct mail newsletter to your very best contacts – those with the highest likelihood of giving you referrals.And who are those “very best contacts”?Mostly, your past clients.According to studies, a past client gets asked to recommend a REALTOR® two or three times a year. Multiply that by the number of past clients you have and that’s a lot of potential referrals. So, clearly, you want to make the best impression on these people – and the way you do that is with your best marketing piece: an eye-catching direct mail newsletter packed with valuable content.Now let’s take a look at email…While email has a low perceived value for real estate marketing, especially when compared to direct mail, it does have three important advantages.The first is speed. With an email, you can send a message to contacts almost instantly, which is great for communicating new LISTINGS and SOLDS, market alerts, and other timely information.The second is cost. Email is inexpensive. So you can send an e-Newsletter and other messages to lots of contacts without being concerned about the cost.ut email also has a number of disadvantages.Used incorrectly, email can easily be seen as spam.If it isn’t formatted properly, your email will not display correctly in mobile devices like iPhone, Android and Blackberry.If the content isn’t of high value, your email will likely not be read or even opened.People receive a lot of emails. So the competition for your inbox is fierce.Emails can look good but, compared to direct mail, the design potential is limited.What’s the best way to use email?Email is ideal for staying in touch with prospects because it’s quick and inexpensive. It’s also good for sending to all your contacts such timely messages as hot new listings, solds in the area, local market news, and more.You probably have contacts that are active on Twitter, LinkedIn and Facebook. So, to maximize the number of referrals you get, it makes sense to get on these sites and have contacts “follow” you. That way, you stay top-of-mind.And if you regularly “tweet” valuable content, your followers will share that content with their friends and followers, resulting in more leads and referrals for you.Let’s summarize…You need to use direct mail with your best contacts, such as past clients. Email with your prospects and other contacts. And social media to create followers of those contacts using social media.Direct mail, email and social media, all working in tandem for real estate marketing. That’s the key to getting more and more referrals, month after month, year after year.
  • A direct mail newsletter – designed the right way and featuring valuable content — has high perceived value. Your contacts know they are on your “most important” list when they see it in their mailboxes.The only downside is the expense. Because direct mail involves printing and mailing, it costs more than email and social media.That’s why you should only send a direct mail newsletter to your very best contacts – those with the highest likelihood of giving you referrals.And who are those “very best contacts”?Mostly, your past clients.According to studies, a past client gets asked to recommend a REALTOR® two or three times a year. Multiply that by the number of past clients you have and that’s a lot of potential referrals. So, clearly, you want to make the best impression on these people – and the way you do that is with your best marketing piece: an eye-catching direct mail newsletter packed with valuable content.
  • Now let’s take a look at email…While email has a low perceived value for real estate marketing, especially when compared to direct mail, it does have three important advantages.The first is speed. With an email, you can send a message to contacts almost instantly, which is great for communicating new LISTINGS and SOLDS, market alerts, and other timely information.The second is cost. Email is inexpensive. So you can send an e-Newsletter and other messages to lots of contacts without being concerned about the cost.ut email also has a number of disadvantages.Used incorrectly, email can easily be seen as spam.If it isn’t formatted properly, your email will not display correctly in mobile devices like iPhone, Android and Blackberry.If the content isn’t of high value, your email will likely not be read or even opened.People receive a lot of emails. So the competition for your inbox is fierce.Emails can look good but, compared to direct mail, the design potential is limited.What’s the best way to use email?Email is ideal for staying in touch with prospects because it’s quick and inexpensive. It’s also good for sending to all your contacts such timely messages as hot new listings, solds in the area, local market news, and more.
  • You probably have contacts that are active on Twitter, LinkedIn and Facebook. So, to maximize the number of referrals you get, it makes sense to get on these sites and have contacts “follow” you. That way, you stay top-of-mind.And if you regularly “tweet” valuable content, your followers will share that content with their friends and followers, resulting in more leads and referrals for you.Let’s summarize…
  • Let’s summarize…You need to use direct mail with your best contacts, such as past clients. Email with your prospects and other contacts. And social media to create followers of those contacts using social media.Direct mail, email and social media, all working in tandem for real estate marketing. That’s the key to getting more and more referrals, month after month, year after year.
  • You can learn so much just by observing nature. Last year, Steve was staying at a fabulous hotel in southern California. He and his wife were having lunch at an outside table at the hotel restaurant. It was impossible not to notice the ducks that gathered around the tables at the restaurant looking for food. The birds would wait for the people to leave and then they would flock to the tables looking for crumbs that were dropped to the floor. There were dozens of birds fighting over the scraps left behind. Every duck did the same thing; except for one.This duck was different. Instead of waiting for the couples to leave, this duck would wait only until the food was originally delivered. At the moment the staff delivered the food, the duck would race to the table and look up at the people who were about to eat. Surprisingly, every person immediately took something from their plate and fed it to this duck. They fed the duck BEFORE they began to eat.This duck didn’t settle for scraps and leftovers. He ate the best food off the plate. This duck didn’t fight with dozens of others. He was alone when the customers fed him.It made us think about the difference in real estate agents. Some will list a house, put it on MLS and hope for the best. Others will represent a buyer by simply checking the MLS to see if a suitable house is available for sale. They are like many agents in the marketplace. They are waiting for something to happen. Just like all those other ducks.Then there are agents who will take it upon themselves to make something happen. They will diligently search for the buyer of their new listing. They will knock door-to-door looking for the perfect house for their new client who is dreaming of a new home for their family. They are like that special duck. They are not waiting for the leftovers.In all of nature, some wait for things to happen and others make things happen. Don’t settle for scraps.
  • NETWORKINGNetworking With Other Agents in Town It appears that the real estate industry generally conflates networking with socializing, and those are distinctly different animals.Remember, other agents in your market are highly unlikely to promote your business in any way, shape or form, so networking with them, in the strict sense of the word, is useless.Socializing, on the other hand, may be of immense value, but for different reasons. Who doesn’t need to blow off steam from time-to-time, and what better way to do that than with someone who does what you do for a living?Who else understands the frustration of a listing client who insists on overpricing the home, or the buyer who lowballs every list price and wonders why his offers aren’t accepted? From commiserating to sharing ideas, having lunch, cocktails or coffee with another agent in your market is good for the soul.Just don’t think of it as networking, and don’t waste valuable time socializing with your competition under the guise of networking.Networking With Out-of-Town Agents Whether in person at conferences and conventions or via social media, networking with out-of-town agents is true networking. These agents are in a position to help you build and promote your business, and these relationships require cultivation and nurturing. Here are a few tips to think about before you attend your next conference:Say hello. No matter where you are – in line at the restroom, at a booth on the exhibit floor, waiting for a cocktail at the hotel bar – smile and say hello to everyone. This one simple word can spark a conversation, a connection, and maybe even a real estate deal down the line.Take advantage of breaks between speakers. This isn’t the time to check voicemail and email. Author and speaker Thom Singer suggests that you smile at people, approach them and ask questions, such as, “How are you enjoying the conference,” or “Who is your favorite speaker so far?” Ditch the elevator pitch, or “verbal vomit,” as Singer calls it, and get the other person talking about him or herself. Then, don’t forget to listen.Avoid sitting with someone you already know, unless it’s to nurture a new relationship. The idea is to expose yourself to as many new people as possible.Arrive early to the evening events. This is especially important if you’re on the shy side. This way you won’t feel all eyes on you when you walk in. Plus, the conversation starts up around you. Instead of having to walk into a conversation, you’ll already be a part of one.Make a quick note on the back of all business cards you receive to help you remember where you met the person and the highlights of what you chatted about.Follow-UpFollow up isn’t just for clients. Follow your new associates on Twitter, invite them to be friends on Facebook, and email things of interest occasionally. Just as you keep in touch with past clients, reach out and touch your agent contacts across the country and the globe to remind them that you sell real estate in your town.Real estate agents only have so many hours in a day to devote to each aspect of a thriving business. Networking time should be spent with other businesspeople – especially those who can help build your business, such as lenders and title people.Sure, it’s important to maintain good working relationships with other agents in town, but not at the expense of getting yourself in front of those who can help you.When time is at a premium and you have to choose between networking opportunities, go with the one that offers the best chance that you will be the only real estate agent in the room.
  • RESOURCESTIME SPENT LEAD-GENERATING2 hours per day, 10 hours per week, 500 hours per year (50 weeks)For 25 closings per year, with a 25% closing ratio on leads, you need 200 leads per year. That means that you should average working 5 hours to generate one lead.MONEY SPENT LEAD-GENERATING5000 per month, 12 months a year, 6,0000 per yearWith 25 closings per year and a 25% closing ratio on leads, you need 200 leads per year. That means that you should average spending 300 per lead (good, qualified lead that you actually have a 25% chance of closing). PERSONALIZE ITYou may have more time than money as a resource. You may be able to spend 4 hours per day to generate 200 leads per year. In that case you could spend up to ten hours per lead. You may only have 2000 per month to spend on lead generation.Now what happens if some leads take up a lot of time and no money? Bank the money for a more expensive lead-generation method down the road. And what happens if some leads take up money and no time? Bank the time!Now let’s just say that you have 4 hours per day to spend on generating 200 leads per year, but NO money in your lead-generation budget. That means if you spent a ten-hour day door-knocking, you would need to generate ONE lead to make it worth your time. And if you spend ten hours door knocking and don’t get a single lead, there’s probably something wrong with you…
  • Transcript

    • 1. Lead Generation Ideas Pranav Pandya Franchise Development Manager RE/MAX Mumbai Gujarat Maharashtra
    • 2. • Leads are the life and blood of your business. Statistics show that out of about 300 leads 30 of them will buy what you are selling and 3 of them will stick around with you. You need to have a lot of leads RE/MAX Mumbai Gujarat Maharashtra
    • 3. Generating leads is not complicated, it takes 3 things: • A great offer • Putting that offer in front of the right people • A reason to act now RE/MAX Mumbai Gujarat Maharashtra
    • 4. Past clients • Many a times past client lists their home with another Agent due to two reasons: • Incompetence of Agent • C.A.R.E.(contact and retain everywhere) • 9 TIMES OF OUT 10 IT IS BECAUSE THEY FEEL THAT YOU DO NOT CARE ENOUGH ABOUT THEM. • The more you appreciate your clients and remind them how important they are to your business, the more loyal they will likely become. RE/MAX Mumbai Gujarat Maharashtra
    • 5. Internet • According to a study 55% of agents and 49% of brokers spend between Rs. 25000– Rs. 90000 on technology for their business in a year. RE/MAX Mumbai Gujarat Maharashtra
    • 6. Sphere of Influence (SOI) • Get your current list all in one place • Make contact the way you usually do • Go ahead and categorize by how you know them • Develop your announcement content and send it out • Plan ongoing contact and do it! • Do some quick list-building activities RE/MAX Mumbai Gujarat Maharashtra
    • 7. Signs • First thing a potential buyer sees in your home • Size of your real estate signs is also important RE/MAX Mumbai Gujarat Maharashtra
    • 8. Direct mail /Email / Social Media? • Using a targeted direct mail campaign can be an important marketing tool for real estate agents • To really increase your referrals, you need to use all three. That’s because we live in a multimedia world and people respond to different forms of communications in different ways. RE/MAX Mumbai Gujarat Maharashtra
    • 9. Direct mail • • • • Designed the right way and featuring valuable content It has high perceived value Makes the best impression on those who receive it well-written direct mail newsletter is your most valuable real estate marketing piece • Send it to your “very best contacts” – Past Clients • The only downside is the expense – it’s more expensive than an email or social media RE/MAX Mumbai Gujarat Maharashtra
    • 10. Email • • • • Low perceived value Send a message to contacts instantly Email is ideal for staying in touch with prospects Email is inexpensive but email can easily be seen as spam. • Emails can look good but, compared to direct mail, the design potential is limited. RE/MAX Mumbai Gujarat Maharashtra
    • 11. Social Media • Most of your contacts are active on social media • You have contacts “follow” you • Followers will share that content with their friends and followers • You can generate maximum number of referrals through your followers RE/MAX Mumbai Gujarat Maharashtra
    • 12. • So, to maximize referrals, you need to create a multi-sensory real estate marketing experience of all three, (direct mail, email and social media) where prospects and clients are hearing from you in a variety of formats. • You need to use direct mail with your best contacts, such as past clients. Email with your prospects and other contacts. And social media to create followers of those contacts using social media. • Direct mail, email and social media, all working in tandem for real estate marketing. That’s the key to getting more and more referrals, month after month, year after year. RE/MAX Mumbai Gujarat Maharashtra
    • 13. Prospecting Don’t Forget to Ask for Referrals Strike while the Iron is HOT Schedule a Minimum of Two-Hours a Day for Phone Calling Qualify Your Prospect at Maximum Range Don’t Take Rejection Personally In all of nature, some wait for things to happen and others make things happen. Don’t settle for scraps. RE/MAX Mumbai Gujarat Maharashtra
    • 14. Networking • Networking With Other Agents: – Share ideas – Have coffee, lunch or cocktails In a conference: – Say hello. No matter where you are – Take advantage of breaks between speakers – Avoid sitting with someone you already know, unless it’s to nurture a new relationship. – Arrive early to the evening events. • Follow up – Follow up isn’t just for clients. RE/MAX Mumbai Gujarat Maharashtra
    • 15. Resources Think about the resources you have available to you… The three biggies are: 1. TIME 2. MONEY 3. ENERGY RE/MAX Mumbai Gujarat Maharashtra
    • 16. Thank You RE/MAX Mumbai Gujarat Maharashtra