Tom Ferry Reading Blog

The Top 12 Lead Generation Sources for Real Estate Success – #TomFerryShow

Tweet it Out: The Top 12 listing lead sources was very interesting on the #TomFerryShow. Thanks @TomFerry!

Where’s your next seller lead coming from?

The answer to this question tells me a lot about your real estate business.

If you have no idea, you’re in trouble.

It means you’re operating without a strategy.

Flying by the seat of your pants.

Rolling the dice on your career…

…On your future!

So, what’s your answer?

 

Clear and Concise…or a Little Murky?

When I ask one of our kickass coaching members this question, the answer is clear and concise.

Top agents use a variety of listing generation strategies, and they run those programs with tactical precision.

So while they might not be able to predict exactly which lead gen strategy will produce their next lead, they can easily articulate several likely options.

I actually did ask this question of our members recently.

Not just a few of them, but all of our Elite+ Coaching members.

We conducted a survey about where their leads are coming from, and I’ll reveal the Top 12 results here.

Find Your Right Mix

Before we get to the list, a word of warning.

Some people might read this blog and say, “Whatever’s No. 1, that’s what I’m doing!”

Some people might read this blog and say, “This is great. I’m doing ALL 12!”

They’re both wrong.

When it comes to lead generation, you want to utilize a balanced mix of strategies.

Going ALL-IN on one strategy is putting all your eggs in one basket.

On the other hand, trying to do 12 different approaches will stretch you too thin.

Choose a few methods and focus on making them work for you. Work with your coach until you master them!

Then, once you have them running systematically, go ahead and add one or two more strategies at a time.

Got it? Good.

 

Without Further Ado…

As I reveal the list, ask yourself if these strategies are something you do or something you’ve avoided. Remove the fixed mindset and bring an open mind to all of these being viable options to help grow your business.

  1. Database

Not surprisingly, working your past clients and center of influence was the top strategy for Elite+ members to generate new business. With what frequency are you informing homeowners in your database? Do you truly know your customer? Become the knowledge broker for these people, and I guarantee you’ll win.

  1. Mega Open House / Event

Who says Open Houses only attract buyers? When you create Mega Open Houses that truly give people a reason to show up, you can meet the neighbors, impress them and position yourself as the listing agent of choice. Provide food, drinks and fun, invite the neighbors and make the most of your Open Houses. For comprehensive step-by-step instructions for creating your own Mega Open House and more, download your Open House Advantage Success Pack now! Also be sure to check out this case study on coaching member James Suarez.

  1. Geographic Farming

Identifying a group of homes with sufficient annual turnover to justify a large enough return on investment to offset the costs of your direct mail, marketing efforts, Facebook ads, etc. — and then inundate them with your message until you become that logical choice. Demonstrate proof of activity (Just Listed, Just Sold, Market Updates, etc.) to win over potential sellers and become the listing agent of choice in your marketplace.

Free Real Estate Agent Coaching Consultation

 

  1. Agent-to-Agent Referrals

This one probably rates higher for our coaching members than the average agent due to our amazing ecosystem — a sharing of ideas and referrals that many of our members cherish. But you can still capitalize on referrals by doing your research and forging relationships with agents in strategic locations. Determine the areas that statistically contribute the most people to your community, and then build networking relationships with agents from those communities.

  1. Zillow/Realtor.com/Trulia/Homes.com/Etc.

Today’s most savvy agents are over-indexing on online arbitrage and seeing it as a significant listing opportunity. Why? Because those who are shopping for homes online often have to sell their own property before they can buy.

  1. Expired Listings

Before you freak out and tell me how much you hate the idea of pursing Expireds, think about this: A homeowner of an expired listing is just a human being facing a challenge. You’re a confident Rockstar listing agent. Be the knowledge broker and help that person solve their problem. When you do this, it becomes the Ultimate Proof of Success, showing how you achieved what other agents could not. So reach out — via direct mail, phone calls, doorknocking — any way you want, but don’t allow a fixed mindset to blind you to the huge opportunity in Expireds.

  1. Seller-Specific Online Marketing

“Curious about the value of your home?” Seven simple words that can get people to raise their hand and indicate the possibility of selling their home in the future. This isn’t a quick hit solution, but if you’re willing to provide information to these people, get them in your system and nurture them, you can convert over the long run.

  1. Sign Calls

Have as many signs as your local regulations allow! (Another reason to do big Open Houses frequently with lots of signs.)

  1. FSBOs

Love ‘em or hate ‘em, FSBOs are the fastest source of business opportunity. The truth of the matter is there’s a small percentage of people who won’t be able to sell their home themselves and will look to hire someone like you to help them achieve their goals. Remember, every home you list means more signs, more exposure, the ability to help more people.

  1. Investors

There is so much money coming into the marketplace right now, and the question becomes are you paying attention to capitalize on the opportunity investors provide? What if you sat down with your title rep and asked for a report on everyone who owns three or more properties in your area. Identify them, work with them, help them sell when they’re ready, bring them meaningful value, and make them customers for life.

  1. Builders

Similar to investors, you can capitalize on working with builders by having your title rep identify any properties zoned for R2 but currently only has one unit on it. Find those properties that have been owned 20+ years and ask the right questions to present the possibilities to the property owner.

  1. Professional Networking / Corporate Relocation / Radio / Seminars / Yelp Reviews

These five strategies all tied for 12th.

 

What now?

With this list, ask yourself these questions:

  • Where are you really focused?
  • Where are you dabbling?
  • What are you avoiding?
  • Where do you want to concentrate?

 

 

Would You Like to Generate and Convert More Leads in Less Time?     Schedule a Free Coaching Consultation