While Zillow, Trulia, realtor.com and social media platforms are all useful tools for lead generation, many real estate professionals are finding that the best tactic is to blend their use of technology with more traditional networking techniques in order to build a foundation for generating new leads.
Lead quality has a direct impact on return on investment for an agent’s marketing efforts and budgets, and with new lead generating strategies – partnering with other websites, third-party vendors, utilizing social media sites, QR codes and texting campaigns, for example – it’s imperative to know how to use these tools correctly to generate the most quality leads. Using partner sites like realtor.com and third-party companies might generate a large volume of leads, but are they quality leads? While some agents believe in going after every lead, when it comes to low-quality leads, the benefits of time and energy put into them need to be weighed. Time and effort taken away from focusing on high-quality leads means leads with a high probability to convert aren’t receiving the prompt attention needed to convert them. That means prospective clients are lost.
Wasting time on low-quality leads ranks high among the mistakes agents commonly make with lead generation, which also include failing to use questions to qualify leads and measuring the cost per lead. Another mistake agents make is not testing all their means of prospecting for leads. Without testing and measuring, agents can’t focus on their lead generating tactics that give them proven results; instead, they are focusing across the board on everything, and not getting as many quality leads as they should.
Take QR code and texting campaigns, which are offline lead generating strategies that optimize smartphones. Prospective clients, especially younger generations, prefer texting and emailing to talking on the phone – agents should take advantage by testing a QR code campaign, which takes prospects to a specific place on your website offering more information. Texting lead generation tools could be even easier to use – consider using a service that provides listing information with a simple text.
While keeping up to date on new lead generation tactics and practicing what gets proven results, agents should also be testing methods of lead generation with their spheres of influence, a place agents should look to often for referrals. Explore what’s working in other industries, attend conferences, take note of new technology and evaluate whether adapting it would improve your business.