In real estate, lead generation is not all through taking the right steps and expending time, money, and energy on the right avenues.
Many real estate agents get confused after following all the usual advice, including all the crucial aspects, and they fail to gain new leads.
The reason could be that they are making some real estate lead generation mistakes that are undermining all their otherwise right efforts. You can boost your leads both by following the right practices and minimizing the missteps.
We have put together a list of the common mistakes that could be adversely impacting your lead generation efforts. Rectify these to see your numbers moving in the right direction again.
Real Estate Lead Generation Mistakes
Mistake 1: Lacking Proper Real Estate Marketing Strategy
A real estate business is a complex affair. You are no longer an employee, but you are also the owner and the boss. This newfound freedom results in many poor business decisions in the initial phase.
The most prominent error would be not creating a well thought and properly-funded marketing strategy.
A real estate agent may believe that marketing can be handled once he has gained a few clients and some money in the business.
The issue with this line of reasoning is that it could be extremely difficult to find many clients without adequate marketing.
Even if you are achieving your present goals, you still need to start marketing efforts to ensure that you can sustain your business in the future.
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Mistake 2: Skipping Social Media Activities
Social media has become an essential part of conducting real estate business. In a recently conducted survey by a business platform, a large majority of 63% of respondents claimed that social media was more important than a website for the business.
In the same survey, however, around 70% of respondents admitted that they were not confident when it came to marketing digitally.
Whether it is the social media behemoth Facebook, the visually oriented Instagram, or meant for professionals LinkedIn, it has become a necessity for a real estate agent to have a social media presence.
You can create, contact, and expand your reach, which translates into more leads by using these platforms in the right manner.
Mistake 3: Not Nurturing Your Leads
Real estate marketing mistakes can happen even after a real estate agent gets the leads. There are two major errors that can happen in this stage.
Not Converting Contacts into Clients
At times, real estate agents are single-mindedly focused on only leads, so much as that they forget that all contacts have the potential to be converted into leads with time and effort.
Many clients approach a real estate agent with requests for a resource or a home valuation. Instead of not considering these inquiries, an agent must try to form a relationship. This relationship in the future can lead to them becoming a client.
No System To Nurture Leads
Similarly, the process of buying or selling a home is a complex task, and not all leads would be immediately ready to start the process. A lot of agents offer a short period of about two weeks for regular follow-up and then write off the lead as a dead end.
Buyers and sellers may require months to take a final decision. So, until then, you need to nurture the relationship so that you remain on top of their mind.
Mistake 4: Not Registering on Online Real Estate Lead Generation Platforms
Many realtors credit online real estate lead generation platforms for their success. A seller leads generation platform, such as Doormat, can offer multiple benefits to real estate agents.
Dorrmat, the Arizona-based lead generation platform, offers quality home seller leads along with a wide range of additional benefits to its agents.
Doormat brings together years of real estate selling experience and top-notch technology to help agents find qualified sellers in major Arizona cities such as Tucson, Phoenix, Tempe, and others. For real estate agents, it would be a mistake not to opt for such services.
Mistake 5: Not Making Phone Calls for Referrals
Request for referrals is an aspect that can pose problems if not handled correctly from the start. Most agents would face issues in asking for referrals. However, many times, it could also be the way you frame your ‘Ask’ that could be an issue.
It is necessary to call everyone in your sphere of influence and request referrals. Similarly, make phone calls to all of your clients and request referrals. Keep in mind the following points while making such a phone call:
- It is not a favor. You are going to help their family and friends in the same way you helped them.
- Keep a script ready.
- Identify the right time to ask.
- Never put people on the spot. Request for referrals should be accompanied by a link where they can send in their referral details later.
Mistake 6: Not Creating a Professional Real Estate Website
A career-impacting error could be not having your independent website. Although your brokerage may provide you with a page on their website, it is still better to have your own one.
Your website is the central aspect of all your branding and marketing activities. Therefore, it needs to be designed to reflect your ethics, values, and services offered in the best manner possible.
Mistake 7: Not Working The Email List Of Clients
Another major real estate marketing error a real estate agent might make is not properly utilizing the contact or email list of the clients in the database. A drip email campaign could be put in place to ensure that your leads or past clients do not forget you.
Sending in free regular real estate sales information, holiday greetings, or posts of value to them will ensure that your audience remains engaged with you. Later, when they have any property-related work, you are the agent on their minds.
Summary
The mistakes agents make may not even be noticeable in the initial period of your real estate business.
However, you might soon notice that you are unable to achieve many of the targets that you had planned, despite your best efforts. The issue could be these errors and not any lack of effort on your part.
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