How to Create a Lead Generation Funnel to Seal Deals Consistently | 21 Ways
Getting real estate leads can seem to be a difficult process when you are just starting out in the housing market. But it doesn't have to be as difficult as you imagine!
Once you realize that, in today's digital age, getting leads is rather simple, it may even sound fun. All you need to do is understand how to effectively use the internet.
There are steps to take and strategies to think about that will bring results for your leads.
Real estate investor Brandon Turner, who has a solid track record, breaks down the "deal funnel" into four simple phases that, if continuously followed and optimized, can produce results.
Here are the four steps.
Acquiring leads
Deal analysis
Making offers
closing the transaction
You're good to go now that you are aware of the four steps, right? You wish it was that easy.
I observe investors struggling with two issues that clog the flow of their deal funnel.
Failing to build the funnel
Failing to optimize the funnel
Witnessing these issues reminds me of my favorite quote, "I can't paint, but I can trace the Mona Lisa"
In short, you should be able to construct and improve your own funnel by paying attention to what other successful individuals are doing. Simply mimic them.
Before diving in to the process of building the lead generation funnel, lets define what lead generation is.
Real Estate Lead Generation
A real estate agent's capacity to create leads is essential to their success. In the context of real estate marketing, lead generation refers to the effort made by an agent to draw in and persuade a prospective buyer or seller to seal the deal.
How can you Generate Leads in Real Estate?
You might initially feel a little overburdened and unclear of where to look for clients. Not to worry! It's easier than you might imagine. Lead generation also gets simpler and simpler as you gain experience as a real estate agent. You'll have an increasing number of recommendations and prospects, which will eventually result in exclusive leads and better financial prosperity for you.
By replicating the techniques that other investors in real estate are already using, we may quickly find a solution to the problem of being unable to establish the deal funnel. Here are 21 lead generation strategies for your next deal funnel, some of which can be set up in a matter of minutes.
The MLS: You must either be a Realtor yourself or work with one. I've discovered Realtor.com and Redfin.com to be reliable MLS proxies.
Zillow, which has a feature called Zillow Premier Agent that real estate agents may find useful.
Crexi
Redfin
LoopNet
Trulia
Realtor.com
Google AdWords advertisements (with your ZIP code as a target)
Pocket listings by realtors
Turnkey companies
Property Management Companies
Banks or Govt Orgs (For confiscated or REO homes)
Real estate investment groups and meetups
Social media platforms such as Facebook groups, Instagram, and Facebook Listings
Private lenders and hard money lenders
Off-market places like (BiggerPockets, Roofstock Auction, HomePath, Hubzu)
Scale this approach with apps like DealMachine
Lawyers who are working with motivated sellers for different reasons
Partner with service companies who work with motivated sellers
Virtual Assistant (You will find many VAs that will happily bring you deals)
Cold outreach (includes sending cold emails, messages or calling)
Now that we've covered this treasure trove of 21 distinct lead generation methods, it's time to discuss the top lead generation methods employed by experts
Which lead generation strategy for real estate is best?
Here are a few examples of the most effective lead generation tactics for the real estate industry, along with advice from experts on how to handle those leads.
1. Make your mailings automatic
The best course of action is to send out a massive mailing if you're looking to develop a steady flow of business in a large city. I advise sending out at least 5,000 pieces of mail each month.
You must first purchase a list. If your income permits it, try to purchase your entire county or city list. Otherwise, get hands on 5000 minimum.
Once you have your list, head to a mail facility that will send your mail on your behalf every week, bimonthly, or monthly. I advise you to divide it up weekly. It is crucial to outsource the mail since without it, there won't be any reliable leads coming in.
2. Make use of Lead Management Tools
Lead management needs the use of CRMs. In this case, a pen and paper won't do because, if you're automating, somebody else needs to pick up where you left off.
There are many CRMs you can use, just pick the one that fits your business need best.
I like Podio because it is very customizable. I employ a third-party company to run Podio for my company because I am not at all tech-savvy.
This is necessary to manage your business because the follow-up should generate the majority of your deals. If you don't have a central location for leads, it's tough to follow up properly.
You will get many CRM recommendations from your network. Here are a few you can test
Podio
ActiveCampaign
WiseAgent
Hubspot
4. Craft a flawless voicemail message.
Set a voicemail for callers to leave messages. Keep in mind that you need a solution that enables you to call your leads back at a time that is convenient for you as you are at work.
Of course, not everyone will now leave a message. Your CRM should, however, be set up to automatically text callers who hang up. Additionally, the CRM should enable manual texting. This makes it possible to reach the lead in a variety of ways.
5. Using Virtual Assistant Services
Although there are many solutions available, virtual assistants can be another key element of your company and the lead generation process. After struggling through three of them, I was prepared to give up.
Then I discovered a fantastic company that is well-trained, meticulously planned, and always improving. I hired them, and I've worked with them for over seven years using the same individual.
When used effectively, virtual assistants can become a vital member of your team. Each charges in a unique way. I personally spend between $130 and $150 every week on calling, which takes about six to eight hours.
6. For Sale by Home-owners Themselves
These are always a reliable source of leads. You can find them online, make your own calls to them, or hire virtual assistants. I use both in combination.
I started doing some sourcing and phoning for myself three to four days a week for a few hours each day. You'll have some money left over after your first trade, which you may use to hire your first virtual assistant.
They are also listed on "for sale by owner" signs. Every time you go out, take a different route to work or wherever you are going, passing through new communities. You'll eventually come upon signs.
7. Abandoned listings
These are listings that failed to sell that real estate brokers had listed on the Multiple Listing Service (MLS).
Since sellers sometimes feel frustrated after failing to sell with an agent, I personally love these. In contrast to "for sale by owner" sellers, who may require some time, this will frequently result in immediate appointments.
Where can I find discarded listings?
Before, obtaining them required working with a licensed individual. Now, getting them for yourself is considerably simpler.
Visit the Multiple Listing Service to find them (MLS)
Find them on Social media
Search them on Bing, Yahoo, Baidu, Google, and Yandex
Purchase expired listing information on more websites
Speak with other real estate brokers
8. Using Direct mail
Direct mail has the same potential to be your sole source of marketing leads for your company as any of the aforementioned methods.
These letters are easy to create and can be used to target a variety of lists, allowing you to be extremely specialized and never run out of prospective campaigns.
As previously stated, I use a done-for-you service for the letters and MelissaData.com for lists. That is as simple as it gets.
We use letters that appear to have been scribbled on a yellow pad of paper in a handwritten typeface. They are sent in invitation-style envelopes to encourage opening rather than disposal.
9. Running Ads
There should always be free internet "I Buy Houses" ads posted by you or your team. why not In addition to Craigslist, you can search on Google for free classified sites in the locations where you work and find a ton of them. Although I haven't had a flood of calls from these, it's another source of leads.
Thankfully, in the internet age, lead generation for real estate is much simpler. I urge you to make the most of online resources since they will help you as a realtor by driving visitors to your website and generating seller leads for your real estate company.
Make sure your contact details are prominently displayed in ad campaigns for your company or on your website. Your capacity to create leads is also influenced by how accessible you are.