From buying leads to social media ads, there are tons of ways for you to find your next real estate lead. With so many options out there for keeping your pipeline full, finding the strategy that works for you can take a lot of trial and error.
Three strategies for you to keep your real estate leads rolling in.
- Is Buying Leads Worth It?
Buying real estate leads is popular because it works for some people. The best rule of thumb for business is that if it’s not broken, don’t fix it. But, know that there are better options out there that are more affordable and create a stronger connection within your target market and community.
When you invest in buying leads you’re likely to get a higher conversion rate because the leads should already be qualified. You’ll save yourself time because you’re not out chasing leads – but you’ll still have to put in the work of cold calling or emailing and pitching your business to them.
However, buying leads can be expensive for the value of the leads. Consider that while quality is expected it’s not always guaranteed and you’re still going into the relationship cold.
The bottom line is: if you’re not making enough money on the leads you buy to make them worth the cost, it might be time to find a new strategy.
If you’re not going to buy leads you might be asking yourself where to get real estate leads?
- If You Don’t Buy Leads, Should You Invest In Ads?
Running your own online ads on social media platforms like Instagram or Facebook can be a successful alternative to buying real estate leads. If you’re wondering, do Facebook ads work for real estate, here’s your answer:
It depends.
Sort of like buying leads, Facebook, Instagram, LinkedIn (and other social platforms) ads can and do work for some. Ads can help you build brand recognition with your target audience. However, if your business is just starting out, ads might not have the best value for your investment.
Consider the platform you’d like to use when thinking about investing in ads. You’ll want to purchase ads where your target audience is spending most of their time. For example, if you work mostly with young professionals, purchasing ads on LinkedIn where they are active will probably be the best platform to use.
That being said, most of the world’s population is on Facebook, which means it’s important for your business to also be visible on Facebook.
But social media ads require a lot of experimenting to ensure that you’re reaching your target audience. Also at the right time in their journey toward homeownership. If you’re trying to test messages across multiple social platforms, you’ll likely spend a lot of time writing ad copy, finding the right images for your ads, and that can get expensive.
As with buying leads, if Facebook ads are working for you – good for you! But there is still another option.
The Community-Minded Approach to Real Estate Lead Gen
Due to the financial issues from COVID-19, it is projected that in 2020 6.12 million homes will go up on the market in the US alone.
If you take a community-minded approach to your real estate neighborhood, you earn the trust of buyers and sellers in your community. To become a market leader in real estate in your community who can be counted on, you can:
- Find Your Niche: Be your community’s go-to for rural properties. Partner with a local boutique developer to build new, ready to move in homes. Your niche helps you establish your brand so your community members know exactly how you help them.
- Problem Solve: A community-minded approach requires you to take a vested interest in your neighborhood and neighbors. Giving back to them will ensure that they give back to you in the form of repeat business.
- Add Value: Offering value-added services or incentives can help you enter an oversaturated real estate market and stand out. Partner with other local businesses to offer pumpkins for clients in the fall, or snow removal in the winter months.
When you take a community-minded approach you don’t have to waste time testing ads or money buying leads.
Take the pulse of your community and earn their trust and business. The more they see you doing good things for the community, the more they’ll trust you to be the one to buy and sell their homes.
Community > Lead Generation
If you are curious about how to put community-minded lead generation at the forefront of your business, and how to be proactive and invest in your community, click here for a demo. A platform like Parkbench can help you get a ton of leads, and help your community at the same time.
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