Lead Generation

Manan ChoksiRE/MAX MGM

www.remax-mgm.com

3 ASPECTS OF LEAD

PROCESSING

1. Lead Generation 2. Lead

Management3. Lead Servicing

LEAD GENERATION

What is our business?

• Lead generation is the most important aspect of real estate business

• The whole cycle starts once you get a lead

• All successful brokers have one thing in common: an efficient and effective lead generation system

Importance of Lead Generation

• Keeps your business going• Cyclical nature of our business• Momentum• Brand awareness• Education to all• Shows your competence in market• Reflects your character/ company profile

Type of leads:

• Buyer • Seller • Tenant • Investor• Landlords

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Whom to target?

• There are about 50 real estate agents every buyer knows.

• No one would come to help a seller though!• Buyers are fickle while sellers are desperate • An exclusive mandate with a seller has proven

to be the most revenue generating strategy ever for a realtor.

Lead life cycle:

• When are the customers approaching you? • Is it too late in the decision making step that

you cannot add value to customer? • Get the customers before they decide all

parameters of their buying / selling decision

Lead by referral:

• One day I was sitting with a successful broker of his market and his phone rang.

• A customer had called who had dealt with him 5 years ago with a new requirement

• How will your phone ring with such calls?

Lead by referral:

• The biggest source of a mature broker is referral lead.

• For a buyer first person to come in mind as a realtor usually gets his lead.

• You need to get in to a lot of minds as THE realtor to do business with.

• Then you will get a stable supply of referral leads

Lead by referral:

• The simplest way to generate referral leads:– Do good work

• If you work in organized manner and give client satisfaction, they are bound to refer you.

• Do we need to get in to business relationship to get referral business?– It may start with your relative or lead servicing

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Lead by referral:

• Use Brian Buffini’s training to get training on “working by referral”

• The time tested tools of referral generation are:– Pop By– Personal Notes– Items Of Value

Match the market

• A one page flyer will not sell a 1 crore apartment

• If you are targeting a high end customer then you have to present appropriate material.

04/07/2023 Marketing presentation for Mr. Patel 15

Techniques:

“There is no wrong way to generate a lead”

Tom Ferry

Types of lead generation

• Contacts :– Friends– Sphere of influence– Previous Work place – Ex-Co-workers– Your child’s friends , school, tuition teacher

• Internet Portals– Our www.remax.in portal – Your own listings can be put on Magicbricks,

99acres etc. – Other Agent’s listing to market

• Simple tip: print your website everywhere!

• Online advertisement – Google Adwords – Facebook – Internet portals

• Your own Website and listing on website• Social Media: Facebook / Twitter through your

own network and profile updates• Refer to another training on this subject: “Role

of Technology in Real Estate” for further details.

• Advertisements in print media– Classifieds – Display

• This is by far the most costliest mode of lead generation and not cash positive as it is believed to be.

• Biggest mistake: buying a package with a media company, usually it proves costly

• Participation in Exhibitions like property shows etc.– Property shows are now getting focussed on class

or assets / geographical area – Other exhibitions are not getting good results

Targeted Leads:

• Educating customers with :– Buyer Guide- Seller Guide– holding seminars– speaking at gatherings.– Legal updates – Regular emailing / blogging / updating Facebook

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• Networking – In Seminars related to investment / properties– With people you meet every day– Wedding / parties / social gatherings

• The idea is not just to give visiting cards, but to collect them !

• Walk-ins to segment of people for e.g., a run down building or doctors

• Cold Calls• Banners to sell properties (yard signs)• Just listed, Just Sold postcards

• Database: Business Cards• Yellow Pages (now available on telephone)• Radio Advertisement• TV advertisement on regional channels • Outdoor advertisement like bus stop, hoarding

etc. • “No Parking” boards • Hoarding sponsorship of other shop keepers

What to advertise?

• Buy sell rent? • Fish with a hook or fish with a net?• Be creative than the competition • Amul butter

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• Importance of media-offer-content :– 20% is on what you write in the content – 40% is on the media you choose – 40% is on the offer you make

• To have best results : “Make a catchy content for an irresistible offer and use the media which the target segment uses”

Agents - Lead Generation Systems

• Emerging Agents use 1-3 lead generation system to generate clients.

• Mid-level producers use 4-6 lead generation systems to generate clients.

• Mega agents use 10 or more lead generation systems to generate clients.

Lead generation strategy:

• The best strategy is the one which gives you the fastest results and highest profit.

• Todays lead generation strategy may not work tomorrow.

Lead generation strategy:

• Things to consider while forming a lead generation strategy:– Your budget – Your target segment – The competition’s strategy – Your competency – Waiting capacity to get $ in your pocket

Myths :

1. “I got less phone calls, but over all branding I will get eventually”

2. “I got a lot of phone calls, so obviously my advt work. But closures didn’t happen due to market conditions”

3. “My customers are happy when I advertise their property”

Myths :

1. Majority of leads from one of my sources are junk.

2. Low cost lead generation, means low results. 3. Older leads are useless 4. Quality doesn’t matter only quantity does 5. I don’t need to follow up on leads, they will

call again if they are interested

Myths :

1. Whenever business is slow I will spend time in lead generation activities.

2. Lead generation is one time effort, then I don’t need to do it.

3. Lead generation is only important, lead management is diversion

Time for lead generation:

• Research has proven that top producing agents work more than 54.5 hours a week.

• However most broker complain that they want to work but don’t have any work !

• When you don’t have any work, it’s a good time to focus on lead generation activities.

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Time for lead generation:

• Make a list of tasks for every day of the week:– Mon: personal notes / Paper advt for FSBO– Tue: Do pop by/ send just listed post card– Wed: list online / call past clients – Thu: release Print advt / do social media – Fri: Add to database/ schedule open house– Sat: check expired listing (online / print) /

geographical farming / property viewing

Thank you for your time