As a new real estate agent, you probably don’t have a large contact base to start with, so generating new leads is a constant effort. But you…
❌ Do not go door-by-door and ask “Let me know if you’re interested.”
❌ Do not spend money on digital advertising.
While repeat business is possible, homes are long-term investments, and your recent clients are unlikely to need your services again for several years. Therefore, generating new real estate leads is essential for sustained business growth.
To help you out, here are 5 effective ways to generate real estate leads, even during a slow market.
What is Real Estate Lead Generation?
Lead generation is the process of attracting prospects to your business and increasing their interest through nurturing, all with the end goal of converting them into a customer. Some ways to generate leads are through, blog posts, coupons, live events, and online content. These prospects could be individuals interested in buying or selling a home, investors, or individuals who want to learn more about what you offer as a real estate agent.
Real Estate Lead Generation Strategies
1. Generate Leads Effectively with Ringless Voicemails
One innovative lead generation strategy is using ringless voicemails, which drop a voicemail directly into a prospect’s inbox without ringing their phone. Not only is this method less intrusive, but it also boosts open rates of over 90%. In comparison, traditional voicemail and email marketing rates hover around 20-30%.
Ringless voicemail campaigns can be 50% cheaper than direct mail and other outreach methods. You can send thousands of personalized voicemails about new listings, open houses, or market updates directly to their voicemail inboxes without ringing their phones.
This will make your outreach feel more personal and less intrusive, increasing the chances your message will be heard and generate a lead. Using ringless voicemails to generate real estate leads is not only effective but also works well in other industries like finance, healthcare, retails, etc.
2. Reach Out
Always Start with People You Know
Begin with your personal connections – people you already know are more likely to work with you than complete strangers. Reach out to friends, family, and acquaintances from community activities or online networks. See if they know anyone who might need your services. A referral from someone you know is one of the best ways to land a new client. These prospects are warmer because they already know and trust the person who referred them.
Reach Out to Expired Listings
Remember to be careful when you contact these sellers, they are probably frustrated with their current realtor and stressed about not selling their home.
To avoid annoying them, you should try sending personalized voicemails directly to their inbox instead of ringing their phones. This way, you can explain how you’d approach selling their home differently and more effectively.
Target FSBO Listings
According to the National Association of Realtors, only 3% of For Sale by Owner (FSBO) listings sell within the desired timeframe, and just 18% get the right price. So, if you’re browsing Craigslist or other sites and spot these listings, it might be worth offering your expertise.
In most markets, homes listed by agents sell faster and for more money than FSBO listings. If this is true in your area, then showing potential clients the data can be a powerful way to win their business. You can often find this information in your MLS, comparing how agent-listed properties perform against FSBOs.
Prospect Expired Listings
Sometimes, newly expired listings aren’t enough. Look back at listings that expired over a year ago. Many realtors focus on recent expirations, but few think to contact those whose listings went dark a while back. These sellers might have faced bad timing or ineffective realtors. They might be discouraged, but that doesn’t mean they can’t be convinced to try again.
3. Be Active and Consistent on Social Media
Obviously, as any other brands today, you need to consistently attract more eyeballs to your agent, then generate those leads into clients, and the best way to generate leads for your real estate agent is by using social media.
You don’t have to have profiles across multiple platforms. When you’re new, pick 2 platforms that you can stick with and post high quality content.
And use those avenues to establish yourself as a knowledgeable, helpful resource for prospects. This focused approach will help you generate real estate leads more effectively.
Generate Leads on LinkedIn or Facebook groups
Join LinkedIn or Facebook groups where your target audience hangs out. Such as a local real estate investor group or a first-time homebuyer forum. Engage in conversations and contribute value before pitching your services.
Use Instagram Stories to Attract More Leads
Use beautiful pictures and quick tours of listings to grab potential clients’ attention and generate leads. This also drives engagement on your profile.
Research Instagram Hashtags
Though Instagram doesn’t have specific groups like other platforms, you can use hashtags to find qualified leads. Start with tags like:
- #apartment
- #newhome
- #househunting
- #apartmentsforrent
- #property
- #broker
- #listing
4. Build Partnership and Network
Network with other local businesses to form mutually beneficial partnerships.
For example, you can co-host happy hours, send gifts to clients or leads, and form local alliances. Here are a few industries where real estate agents can form productive partnerships.
- Insurance Companies
- Personal Bankers
- Commercial Lenders
- Bakeries
- Landscapers
- Cleaning Services
- Staging Experts
- Title Companies
Network at Non-real Estate Events
Real estate events are packed with real estate professionals all competing for the same clients. Non-real estate events, however, offer unique opportunities to connect with potential clients in a more casual setting. Local community gatherings and meet-ups can be great places to network.
Connect with Estate Liquidators
Estate liquidators can be valuable allies for generating real estate leads. They have a steady stream of sellers and can provide you with consistent leads. Therefore, building a good relationship with them can help you tap into this valuable resource.
5. Don’t Forget Your Old Leads Yet
Have you ever shown a prospect a few properties only for them to realize they aren’t ready to buy? Don’t lose touch. In such case, keep them engaged by sending them postcards with market updates, adding them to your email list, and using ringless voicemails to leave occasional, friendly reminders that you’re there to help when they’re ready to find their perfect home.
If a prospect has given you either a soft yes or a firm no, don’t follow up with the same pitch. Instead, switch up your approach.
For example, you can drop a voicemail directly into their inbox without ringing their phone, making it less intrusive. This approach helps you stay in touch in a personal, non-intrusive way, keeping you top of mind without applying direct pressure.
Time to Implement One of These Strategies with Potential Customers
Certainly, lead generation doesn’t end once you collect contact information. Lead nurturing, in fact, is crucial to converting leads into paying customers.
Just start having genuine conversation. Additionally, let them know what you’re doing and get them seeing your name popping up repeatedly.
By implementing these strategies, you can effectively generate and nurture real estate leads, ensuring a steady stream of potential clients and sustained business growth.
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