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Real Estate Lead Generation Mistakes Agents Should Avoid

Editorial Team March 29, 2019 0
Real Estate Lead Generation Mistakes Agents Should Avoid

Lead generation is life for real estate agents—you can’t have a career without it. Many new agents are intimidated by this part of the hustle, and even seasoned agents struggle.

Below, we’ll identify the biggest mistakes real estate agents make in lead generation and walk you through how to correct them. All it takes is some patience and dedication.

Mistake #1: Mucking Up Your Marketing

While there are a whole range of marketing mistakes to avoid, your lead generation in particular will suffer if:

  • You use only one marketing strategy. Your potential clients aren’t all the same. They vary in age, technical abilities, and where they’re most likely to run across your marketing. Start with online marketing—that’s where most people begin their search. Just make sure you use a variety of methods—including print and direct mail campaigns. They are still surprisingly effective
  • You change your campaigns too often. There is no instant gratification with marketing, even online. Platforms like Google reward consistency, so if you get impatient and frequently pause your campaign or change your budget, you won’t get the kind of ROI you want.
  • You don’t have an effective website. These days, your website is your professional face and your first impression. It has to do three things to maximize lead generation: be user-friendly across a broad range of devices, use SEO best practices to get your site higher in web searches, and contain lead capture forms on most pages. Luckily, you no longer need to be a web developer to achieve this—pick a “site in a box” platform and use their templates and tools to get it done.
  • You forget to gather…the actual…leads. This should probably go without saying, but every marketing campaign you undertake should directly provide interested parties with the chance to give you contact information. Every digital ad should link to a form; campaign-specific landing pages on your site will help you track which ads are bringing in leads. Print ads should at least contain a phone number, but in the age of a computer in every pocket, you can use QR codes or compact links to funnel them right back to your website.

Mistake #2: Trashing Leads Too Soon

Contrary to what you might think, the key to lead generation isn’t constantly gathering more names—that’s a game of diminishing returns, because there are only so many buyers and sellers in your area. That’s why you need to make the most of every lead you get while you keep fishing for more.

You might be tossing out potential deals if:

  • You fail to leverage every contact method you can. If you have any accurate contact method for a lead, don’t throw it out; even a social media profile gives you an “in.” Don’t just call three times and toss them, either—every individual has a communication preference, so try as many avenues as you can. Call, text, email, DM.
  • You spam them with sales pitches. Potential clients will be much more inclined to give you their business if you provide valuable information when you communicate. Lay out next steps and ask relevant questions about their goals. Pace yourself, too—send too many communications and you’ll get blocked.
  • You make continuing the conversation difficult or annoying. If you insist on a phone appointment right away, you’ll alienate people who aren’t ready or prefer to do business by email. Give them choices. Engaging them by their preferred method and take their cues on pacing.
  • You get impatient. Even if you get radio silence, you shouldn’t toss the lead out. Real estate is a long game. With such a big purchase, conversion takes time. If you only focus on people who are ready right now, you’ll spend your whole career scrambling for fresh leads. Engage all leads with a good nurturing strategy, and you’ll establish a connection as well as your own authority. When they’re ready, they’ll remember you.

Mistake #3: Trying to Track and Nurture Leads without Technology

There is just no way to nurture leads properly unless you’re doing it in bulk. You need a CRM for the kind of segmentation and contact scheduling that makes for successful conversion of leads into sales.

You’re failing to optimize your success if:

  • You nurture leads sporadically. Consistency is key. The scheduling and automated email functions of your CRM can minimize your personal effort. You will need to schedule time periodically to manage your processes, but it will pay as leads continue to move towards closing.
  • You treat all leads the same. You have to segment your leads: by how “cold” or “hot” they are, by where they are in the sales funnel, by what they’re looking for. It’s the only way to ensure you’re sending content that will engage them. You should also leverage all the information from the original lead source. If they submitted a lead on a 1bd condo listing, they’ve already given you the start of a profile to fine-tune.
  • You fail to provide useful content. Every piece of email marketing you send should provide helpful info to the specific segment receiving it. What are the most common things you get asked? What’s the latest news in real estate they may not have heard? Build content pieces for those topics and target them to the appropriate segment of your database. You’ll establish yourself as a source of valuable information and keep your name top of mind.
  • You provide one big opt-out. Some people will say “no, thanks,” no matter how helpful your emails are. If your opt-out rate is high, provide a more granular opt-out list. If they find your newsletter irrelevant but they like getting new listings, let them opt out of one type of email without losing the other. It’ll keep you in their sphere without the irritation of feeling spammed.

Mistake #4: Forgetting Clients after you Close

The sales of today are the leads of tomorrow, whether through referrals or repeat business years down the road. So set up schedules to nurture them too.

Send a short survey shortly after you close to find out what you did well and what you can do better. Send them a polite request for referrals. Send congrats on milestones—birthdays, weddings, or the anniversary of when they bought their house.

Making the most out of established relationships doesn’t just build up your business—it builds your career.

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