Prospecting for potential clients may not be the most fun part of being a real estate agent, but it is one of the most important aspects. The nature of the job means that sometimes things don't go as planned, and that could create a shortage of current clients and a need to find more.
This is where lead generation comes into play. Searching for possible clients is one of the keys to success in this industry, and it can be accomplished in a number of effective ways. However, not every real estate agent is skilled at this aspect, and as a result many make mistakes or assumptions that can jeopardize the hunt. Instead of letting this happen, professionals should remember a few important elements of lead generation.
Never stop searching for clients
Clients in the real estate industry can appear at any time. That person walking down the street or in a coffee shop may be in need of an agent, and giving up on the search could mean they end working with a different professional.
Teresa Boardman, a Minnesota-based broker, wrote in an article for Inman News that consistency is the most valuable aspect of lead generation. Each day, professionals have to dedicate some amount of time to this task, or else when they need clients the most they may not be around. She explained that her strategy is to use blog posts. Writing articles about the job, neighborhood or other aspect can provide valuable content for potential clients, and it will make sure that real estate agent is familiar to people in the area.
Implementing a method to have constant lead generation is important because it means the real estate agent is always working, even when they are taking time off, Boardman noted. For example, having a database of blog posts online provides a way for agents to be in contact with people around the clock. When they are reading a post, they are thinking about possible services they need and are more likely to leave their personal information.
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All leads are valuable
Lead generation isn't the best part of being a real estate, and that can cause some professionals to place less value on this part of the job compared to other aspects. However, this can backfire and create problems when new clients are needed most.
Christina Etheridge, a contributor to Inman News, wrote in a separate article for the site that real estate agents tend to make one big mistake when prospecting for clients. Too many people don't value every potential lead, instead discarding some as "dead ends." This is a problem. Every piece of contact information, even if it doesn't seem like it will turn into anything, is worth having.
This is the case because it can take time to turn a lead into a client, Etheridge explained. In real estate, each prospect must be cared for until they turn into something more. That takes a while, and giving up early can mean throwing away possible sales. Even if that particular person isn't ready to buy or sell a home, they may know someone who is and recommend them. Forgetting about them quickly could be a missed opportunity. Overall, real estate agents must remember to remain focused and committed to lead generation.