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"I promise you’ll receive a ton of leads and referrals." Mmm hmm. Just read on…
How many struggling agents have purchased a training program, referral system or have been recruited to another brokerage with these lines? Maybe it was you. As every agent soon realizes, the quality of those leads are poor and the costs can far out-weigh their benefit.
Ask any successful agent and they will tell you the truth about leads:
LEADS: You can either earn them
or buy them.
I’ve purchased plenty leads in my career. A few systems are great but most are never exceptional. I’m no fan of buying leads but I understand why agents try to build their businesses that way. They buy leads because they either don’t know how to generate them, are afraid to try or – and let’s be honest here – are a little lazy and want what seems to be the easy way.
Marketing (which is mostly lead generation) doesn’t need to be difficult or expensive. But it does need to be consistent and effective. And you should allocate weekly time and energy as well as some money from every closing to re-invest into your business’s marketing plan. Here’s what earning leads looks like:
Think of marketing as a money-making machine.
On the top of your machine are 3 funnels. These funnels represent your 1) sphere of influence, 2) your previous clients and 3) new potential clients you are targeting. Your goal will be to continually add more people into those funnels. The body of the machine are all the ways you chose to communicate and engage with those people. And last of all, your money-making machine must have a conveyor belt and counter at the end that counts how many people that enter into your system are converted into more clients. Measuring output is the key to success!
So, if you have the perfect number of clients, your money-making, marketing machine is working great. But what if you want more clients? Well, here’s a few questions you’ll need to answer to increase your business:
Do I need to add more people into my funnels?
Or, do I need to increase or change my system of communicating and engaging with those people to improve the outcome?
Another important thing to consider: How does my marketing add value to the people I’m trying to reach? If it doesn’t enrich their life in some way, it will be forgotten quickly. Here’s an example of an inexpensive yet effective marketing effort: Try sending a weekly email that focuses on your area’s events and activities. Who wouldn’t appreciate a reminder where you can find a good jazz band performing or what show is happening at the local convention hall. Add a few area listings and your contact information at the bottom. Give them a reason to hang on to it and give them a purpose to look at it often.
Another part of building your money-making marketing machine is getting social.
It’s time to get involved with the community and get your name and face out there!
Find several clubs, groups or committees that interest you and get involved. Meet people! Engage with people in your town and make friends! Think chamber of commerce, church groups, school and athletic groups.
But here’s the key - it must be something you truly enjoy and the purpose behind your involvement is not to gain more business but rather to serve and be part of a community. The business will follow if you are authentically interested and committed to the group.
And don’t forget to shop local! Get to know the barista at the coffee shop, the management team at the gym and the hairdresser at the salon. Learn their name and use it. Express genuine interest in them and be friendly.
As you meet new people and an acquaintance grows, I guarantee those conversations will turn to what you do and lead into a great opportunities to talk about your real estate business. And as you develop relationships over time, you’ll be the person they turn to when they need real estate services.
I promise if you do these things, you’ll receive a ton of leads and referrals.
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