Real Estate leads are the key to a realtor’s success. Not just because leads are the first step to a sale, but because sometimes a lead is not ready to buy and a big bucket of leads can be a great font of sales in the future.
Where to get those Real Estate leads may be a tough task for realtors. Dealing with different sources, strategies and technical terms would confuse even a seasoned broker. In a few paragraphs we will try to help you to create a good strategy with different sources and techniques to get the best Real Estate leads.
The Lead Temperature
The first concept is to understand the Lead Temperature.
Are they two kinds:
1) Cold Ones – Sometimes you will get a lot of leads who are not ready to buy yet. Those leads aren’t necessarily bad, they just aren’t on the same page that you are. Let’s just say that they are “cold” and need to be warm by a new strategy. There are many ways to warm a lead, for example: You can do it by sending him new listings and contents during a certain period of time and wait for contact at the best time.
2) Hot Ones – If a lead has a good view of what is looking for and it’s already open to talk to you or give you some information (like price range, location, requisites), we can call those leads as the warm ones. The warm leads are one step closer to buy a house than the cold leads, but that’s not all. This kind of situation still needs some work from you.
At the top of our lead temperature pyramid is where the hot leads are, they are people ready to buy (that are at the top because they are the most important types of leads, but also few). The key process is to warm cold leads to hot with some good content and touch points during the journey.
Real Estate Leads sources
After understanding the Lead Temperature let’s dive into lead sources, which are channels where they come from. There are several types of channels, which can be organic search, paid campaigns, recommendations, yield sign, outdoor media etc. The point here is not to describe every source, but to explain the difference from one to another.
Generally when we advertise to new Real Estate Leads using visual ads like Google Display, Facebook and Instagram campaigns, even outdoor media, we acquire usually cold leads. This happens because we are showing us (or our listing) to everyone, different types of people, and because of that we will eventually or hardly attract some interest.
On the other hand, campaigns which focus on search (organic searches or Google Search Ads) bring us much more hot leads. This happens in case someone is actively searching for a new home… So this specific search is the kind of advertising that will impact them!
How to decide where to get the best leads for you?
The simple answer to this question is: Every place. Unfortunately we can’t always wait for just hot leads, so you can’t put all your investments in just one type of channel, like on search ads for example. Why? Because hot leads are rare: most of the time they already have a realtor who started a relationship when they were cold… So why don’t we do the same?
The secret is to start a relationship by getting cold leads, warming them and when they turn into hot leads, try to close a deal. The good side of cold leads is that they will always be cheaper than hot ones and also can be a good start to new agents. Everything you need is to create a strategy by getting cold leads at the bottom of your pyramid and then warm these leads with some good content, building a relationship with them by this process. So then, with some time and patience you will have a lot of cold and hot leads together, just in different stages.
That’s why at SIGNA we offer a great SmartCRM tool: To help you deal with leads in different stages. You will be able to create personalized messages to them and manage the temperature throughout the journey, which will make you close new deals and keep capturing brand new leads.