While traditional lead generation techniques (buying leads, cold calls, etc) can work for real estate agents, they are not a perfect solution for everyone. Look at the data for yourself:
- 68% of businesses report struggling with lead generation.
- 79% of marketing leads never convert into sales.
- 63% of consumers requesting information will not purchase for at least 3 months.
A solution to your problem is trying out real estate referral programs. These programs shift the focus from the agent toward the community in which they serve.
If You Are Ready to Try Real Estate Referral Programs, Ask Yourself These Questions
- Do you like meeting new people?
In order to succeed as a real estate agent, you need to have a large sphere of influence. However, if you are new to an area, it can be difficult to make worthwhile connections that can transition to trust. Even if you are not new to an area, it can feel impossible to become more known in an area where competitor agents have a long, entrenched history with the neighborhood. How will anyone see and learn to also value you?
There is a reason we pay attention to commercials or ads with celebrities – we know and often trust them.
Let’s face it, when Brad Pitt starts selling car insurance, I’m there! But as a real estate agent, starting out with an expensive commercial as a way to find leads is not in the budget!
A relationship-based platform is a great fit if you like meeting new people and learning about their experiences – you can become the real estate “mayor” of your community.
- Are you ready to invest in something new?
What you are doing now may be working. But if you have a bit of space in your day, try out a referral-based platform. It will require only a few hours each week.
When you incorporate a hyper-local platform into your real estate practice, you will be able to get out into the community. By shaking hands (or bumping elbows!), you will start to make new connections that are so much more genuine.
Trying something new has the ability to transform you into a local leader.
- Do you have an existing online presence?
It is important to have a strong online presence as a community-minded real estate agent. Significant portions of the home buying process have moved online – especially since COVID hit. A solid online presence is a sure-fire way to engage with potential clients.
Instead of spending your time online buying leads, you can use the referral-based platform to help drive leads. When you share community news through your social media platform and website you will be seen as a trusted industry expert. You can share information about local events, charities, community news, local businesses and amazing people.
If you already have a strong online presence, you sound like a good fit for a relationship/referral-based platform.
If you are interested in finding out more about using a hyper-local, referral-based platform, most companies will offer you a free walkthrough of their platform before signing up. Some of them even offer payment plans so you can assess how well it will work for you. Here’s one from Parkbench.