How Do Estate Agents Get Leads?

June 2, 2022

 It’s a well-known fact that estate agents’ salaries depend on the number of leads they get. They can spend the entire month working and not making any money and then sell multiple properties during the following month.

Predicting lead generation for estate agents is next to impossible since there are countless factors to consider. For instance, ongoing market trends and tools used by the estate agents are just some features that will drastically influence how successful a realtor is.

However, everything’s easier with the right tools by your side. The Prospect Generator tool is designed to help estate agents gain powerful insights and secure high-quality sale leads by equipping them with innovative CRM systems and solutions.

If you’d like to learn more about how estate agents get leads, you’re in the right place.

What is the best lead generation for estate agents?

Finding the best lead generation tool isn’t as simple as you’d think. Each realtor or real estate company is looking for different things, and lead generation tools are also designed differently  – rarely does the same solution fit a variety of estate agents.

Nevertheless, Prospect Generator seems to tick all the boxes. Even if not everyone finds it helpful, Prospect Generator is, by far, the best lead generation solution we’ve come across.

With more than 40 years of experience in property marketing, the Prospect Generator’s team is dedicated to delivering pre-qualified and high-quality leads to the housebuilding industry in the U.K. The ultimate goal of the Prospect Generator’s proptech solution is to help real estate agents generate more quality leads and increase their ROI.

The Prospect Generator solution achieves this by equipping its clients with the following features:

  • Securing leads that have the funds to purchase a property from the realtor;
  • Reducing marketing costs and gaining a better insight into budget and spending;
  • Understanding the customer base and trends related to website traffic;
  • Building efficient and reliable tech toolkits for lead generation;
  • Differentiating between curious house-hunters and genuine sales leads.

Besides the features mentioned above, Prospect Generator also has numerous positive reviews from satisfied customers that confirm our choice.

In addition to the sales lead boost campaigns, Prospect Generator also comes with other services – reporting & insights, a handy valuation tool, and an easy-to-use budget calculator. With all of these, estate agents have everything they need to do business with both property buyers and sellers.

Is it hard to get leads in real estate?

Some people enter the real estate industry without researching the industry enough. As a result, most of these realtors end up having difficulty getting leads. Becoming successful in this business isn’t easy, simply because getting leads requires plenty of:

  • Time;
  • Effort;
  • Knowledge;
  • Experience;
  • Resources;
  • Skills.

Since getting leads in real estate can be an arduous journey, we’ve singled out some helpful tips to make the whole experience much more manageable.

  1. Know your crowd
    To get more leads, you first need to understand where your best leads are coming from. Whether most of your leads come from online and social media platforms or through referrals, knowing your crowd is the first step to success. Additionally, nurturing relationships with previous, existing, and potential clients will make a world of difference in lead generation.
  2. Get the word out
    Start by reaching out to people you already know and telling them about your new career path. Consider telling the news to people around you – your friends, family members, former colleagues, or anyone you encounter regularly. It’s an easy way to get the word out and launch your real estate career in the right way.
  3. Reach new people
    If you don’t have an established and large circle of acquaintances, reaching new people is a must. You can’t meet many new people behind a computer screen, so this is the perfect time to go out and interact with people face-to-face. Check out these activities that can be the ideal opportunity to meet new people and make genuine connections:
    • Attending real estate fairs, galas, and other events;
    • Joining meetup groups;
    • Volunteering;
    • Visiting public spots (theatres, parks, galleries, gyms, museums, restaurants);
    • Taking classes (language, art, sport).
  4. Invest in a CRM solution
    CRM (Customer Relationship Management) tools are the best for tracking your contacts. When you meet a new person, adding them to your CRM database can help you nurture your future relationship. A CRM tool will inform you when you last communicated with a contact, how close they are to purchasing a property from you, and whether they’ve given a referral.
  5. Develop a lead generation strategy
    Having a CRM solution filled with contacts isn’t enough to get the much-needed leads. You’ll need to develop a lead generation strategy to strengthen the established relationships and keep you posted on the latest industry trends. 
  6. Establish processes and workflows
    Developing a lead strategy isn’t enough since the strategy has to become a process that’s performed time and time again. With processes and workflows established, you can automate numerous activities and thus ensure nothing gets forgotten or unresolved.

Where do real estate leads come from?

Real estate leads can come from anywhere. From hosting a real estate conference to bumping into your neighbour at the local grocery store, you never know when you’ll find prospective buyers as a real estate agent.

Here are some of the most common examples of where leads come from, although this list could be much longer.

  1. Open houses
    Hosting open houses is the ideal opportunity for a realtor to generate leads, meet new people, and create meaningful connections. Each person who walks through the door is a potential client, so estate agents are strongly encouraged to host open houses frequently.
    Many passers-by and neighbours visit open houses. Moreover, realtors experience a visible spike in their website traffic once they host an open house. That only goes to show that many leads can come from a simple house opening, even if the property in question doesn’t receive an offer.
  2. Organised events
    Conferences, fairs, seminars, and other organised events are the perfect reason to gather as many people as possible. Many people are invited to be a part of these events, from your colleagues to potential home-hunters.
    Not only is this an excellent opportunity to connect with prospective buyers, but the buyers looking for a realtor will greatly appreciate the ones who are going out of their way to host such events. Therefore, you can expect many guests and visitors to attend these events and maybe go house hunting with your assistance.
  3. Networking
    A large majority of leads come from simple networking. Even the most successful realtors had to do a lot of networking before reaching impressive results.
    Visiting art galleries, eating in restaurants, playing a sport, taking a walk in a park, and participating in other activities can lead to real estate networking. People are everywhere around us, and you never know when the opportunity will present itself to sell a house to someone.
    Because networking plays such an important role, realtors should get out and communicate as much as possible.
  4. Social media
    We’re all aware of the power social media platforms hold, so learning that social media is a great place for finding leads doesn’t come as a surprise. The most popular social media sites have a global impact, so people worldwide can find out about the real estate agents with a strong social media presence.
    As people spend a big part of their time online, more and more realtors are focusing on digital platforms to generate leads.
  5. Marketing efforts
    Finally, marketing efforts have their impact too. Advertising campaigns aim to attract more clients to a realtor, and when done right, they do precisely that. Marketing can attract plenty of clients to a particular realtor and even motivate them to make the call and purchase a property.
    Even though advertising campaigns can take numerous shapes and forms, the most popular ones right now are social media and affiliate marketing campaigns.

Types of real estate leads

There are six main types of real estate leads we’ll go over, including:

  1. Referral leads
  2. Organic leads
  3. Social media leads
  4. PPC (pay-per-click) leads
  5. Portal leads
  6. List leads

Now, let’s explain each of these in greater detail.

  1. Referral leads
    Referral leads are prospective clients that found out about you through someone, typically your previous client, friend, or family member. They’re called referral leads because they result from someone referring back to you.
    An estate agent must go above and beyond to secure referral leads. No one will refer a mediocre agent, so it’s essential to do every job as best as possible if you want to get those referrals.
  2. Organic leads
    Organic leads are people who found you through their research. If prospective clients search for a realtor or any other related query online and come across you, that’s an example of an organic lead. Simply put, organic leads aren’t the result of ads, referrals, affiliates, or other outside influence.
  3. Social media leads
    Social media leads are prospective buyers who found you on any social media platform. Whether that’s Facebook, Twitter, Instagram, or any other digital platform, all social media leads result from a solid online presence.
  4. PPC (pay-per-click) leads
    PPC (pay-per-click) leads are associated with the biggest search engines, such as Google and Bing. These search engines are designed on a cost-per-click model where companies get paid a small amount every time their ad is clicked on. Since PPC drives traffic to websites, it also generates leads.
  5. Portal leads
    Portal leads are purchased leads from real estate search websites. Since portal leads use competitive phrases from search engines, they provide estate agents with hot leads looking to invest in a property.
  6. List leads
    List leads are designed to help realtors send postcards to regular mail routes. However, realtors are turning to phone number lists as people use them more. List leads can focus on various topics, such as FSBOs or expired property listings,

Do estate agents have to pay for leads?

Depending on the type of leads estate agents want to receive, they might need to pay a certain amount to get them. While some lead types don’t cost estate agents a penny, others require a hefty sum.

For instance, hosting open houses, getting leads through referrals, and networking don’t have to cost anything. These activities will bring many potential clients closer to the estate agent without the need to pay large sums to get to them.

Nevertheless, other lead types will require a financial investment. Building a social media presence, organising seminars or conferences, and planning marketing campaigns are some of the most popular activities for getting leads, but you have to invest some money to get the results you want.

How to get leads in real estate for free

As already mentioned, it’s possible to get real estate leads without paying for them. Let’s go over the best practices for getting free leads.

  1. Remind people around you about your profession
    If you’ve recently embarked on a new journey and decided to make real estate your full-time job, your family members, friends, neighbours, or former colleagues probably haven’t gotten used to the idea just yet. That’s why you need to constantly remind people around you about your new occupation and increase your chances of getting a lead through a referral.
  2. Introduce yourself to new people
    We have already highlighted the power of networking. Introducing yourself to new people can open numerous doors in the real estate profession. Every time you meet someone new, give them a proper introduction and maybe even provide them with contact details if they’re looking for a realtor.
  3. Exchange contacts with people you’re in touch with
    It might be an excellent decision to get to know people you’re regularly in touch with. You never know if your local grocery shop worker, car mechanic, dog groomer, or anyone else who provides you with services is looking to purchase a property. Exchanging contacts with these people can mean a lot to your career.
  4. Attend conferences and events
    Whether you’re a speaker at a community event or just an attendee, participating in events is a great chance to meet many new people and create genuine connections. Making time and going out of your way to attend these events surely pays out since you’re likely to get new leads for free.
  5. Contribute to publications
    Writing articles, speaking at podcasts, and contributing to other publications can help you reach people who haven’t heard about you before, thus increasing your visibility. Besides educating people and talking more about real estate, these publications do a great job of generating leads.
  6. Get in touch with past clients
    Even if you sell a property to a client, that doesn’t mean your partnership is over. Checking up on your previous clients is vital for maintaining a good relationship with people you’ve previously worked with. It will increase your chances of getting recommended, and the same people will most likely reach out to you if they want to purchase a property again sometime in the future.
  7. Knock on doors
    Knocking on doors is the oldest trick in the book, and it still works today. While people might be more sceptical about the unexpected doorbells these days, they’ll still answer the door. Preparing an immersive sales pitch will spark interest in many people, and it’s a great way when you want to share some leaflets and get the word out that you’re a realtor.

How to get real estate leads with no upfront cost

Even if you’re ready to spend some money on getting leads but you’re trying to find a method that doesn’t come with any upfront costs, we’ve got you covered. Check out these methods that will allow you to secure leads without spending your money before that.

  1. Organise giveaways
    Everyone loves to win something, which is why online giveaways are so popular among internet users. Every week or month, you can decide to host a giveaway by setting up a contest.
    You can ask the giveaway participants to answer a question, solve a quiz, or comment on a specific real estate situation. As for the award, think about partnering with local furniture stores and home decor shops to create gift cards or simply offering a free session with an interior designer.
  2. Get into partnerships
    While we’re on the topic of working with other businesses, professional partnerships can come in handy for generating more leads. Consider partnering up with lawyers, mortgage brokers, bankers, and insurance agents who often work with property owners and sellers. Think about the different ways you can help each other share the generated leads and profit from them.
  3. Visit FSBO open houses
    Many homeowners don’t want to work with real estate agencies, so they embark on the journey of selling a property on their own. However, many homeowners don’t realise just how complex the entire process really is.
    Check out FSBO open house listings. Mark the time and date, and make sure you pop by near the end of the open house. Most visitors will leave by this time, and it’ll be the perfect moment to have a friendly chat with the property owner where you can tell them what you’re able to do for them.
  4. Promote several properties at open houses
    Just because you’re hosting an open house doesn’t mean you can’t advertise other listings you’re currently trying to sell. Feel free to market several properties as that’ll increase the interest among people.
    Some visitors will find the open house property too small, big, expensive, or in a bad area, so having alternative options on standby is always a plus.
  5. Offer expert real estate advice
    The majority of house-hunters and sellers have an abundance of real estate questions they can’t seem to find an answer to. Social media platforms are packed with real estate groups and pages where locals, organisations, and even the National Association of Realtors (NAR) are present.
    By being a regular in these groups, posting regular updates, and sharing expert real estate advice with others, you’ll become a reliable realtor among people looking for selling or home buying assistance.
  6. Contact older leads
    If you’ve lost a hot lead and the person isn’t showing any interest after some time, it’s still not over. Instead of erasing the lead from your contact list, think about the ways of bringing them back. For example, you can make a deal with your colleague or partner to contact a lead if the other agent fails to sell them a property.
  7. Track expired listings
    Although this step might seem unnecessary, it can generate the leads you’re looking for. Finding sellers whose listings expired without selling their property means they’re probably interested in finding a better approach to real estate. Contact the property owners and offer your help to make your list of satisfied clients bigger every day.

Estate agent leads online

If you’re looking for some ideas on generating estate leads online, here are our top recommendations.

  1. Website
    Some realtors are still unaware of the importance an established website holds, which can harm their career and business. Websites are often the foundation for organic leads since most home sellers and buyers use search engines to find the estate agents they can work with. With a high-quality and optimised website, you can attract countless leads online by using keywords and phrases commonly used in the real estate industry.
  2. Testimonials
    While we’re on the topic of launching websites, including online testimonials, reviews, and referrals can mean a lot for your career. That way, your website visitors will immediately get access to some experiences your previous clients shared. When potential clients are contemplating between two or more real estate agents, testimonials often play a significant role in making the final call.
  3. SEO
    SEO (Search Engine Optimization) is taking the world by storm. Because every real estate company wants to reach that first page of search results, businesses must follow specific steps to secure their spot. A crucial part of the entire process is SEO. It includes finding the best keywords and phrases to target the right audience and attract the leads your company wants.
  4. Run a blog
    Blogs can be a great place where realtors connect with their clients. While blogs give real estate agents complete freedom when it comes to topics and subjects, you need to keep in touch with the target audience. You have to learn what they want to read about. Talking about useful real estate tips and tricks can make your audience interested in the subject and motivated to work with you.
  5. Newsletters
    If you don’t want to publish a blog but feel it’s time to update your audience about the latest news and developments in the real estate industry, publishing a newsletter is a great way to do it. Newsletters are perfect for sharing key news relating to a specific subject.
    For instance, consider using newsletters to publish real estate news, share recent listings, or simply inform homeowners about their duties, such as how to do a thorough spring clean or prepare a house for winter.
  6. Mobile optimisation
    We live in a time where people use smartphones and other portable solutions every day and in all walks of life. Therefore, launching a website that’s not mobile-friendly is unacceptable. Even if you’ve invested a lot of money to launch a professional and easy-to-use website, you won’t get the expected leads without mobile optimisation.
    Make sure your website looks and runs well on smartphones and tablets to secure the rising number of leads coming from mobile devices.
  7. Marketing
    Real estate agents can choose various marketing campaign strategies, from banner ads to affiliate links to secure online leads. When creating a marketing campaign, you need to do proper research before executing the idea. That includes researching the best platforms, target audience demographics, budget, goals, etc.
    Thorough research and market analysis are the foundation for coming up with a successful marketing campaign that will attract many leads online.

Estate agent leads on social media

It’s impossible to build a strong online presence without social media. Take a look at the top four social media platforms and learn why they’re crucial for generating online leads.

  1. Facebook
    Facebook is probably the most popular platform among Millenials, currently the largest group of property buyers and real estate clients. Using the same platform as the largest property buying group is crucial if you want to secure leads on social media.
    Fortunately, Facebook offers numerous advertising plans for business, so it’s easy to target the audience you want to reach.
  2. Instagram
    Even though Instagram was initially popular only among the younger crowd, that’s not the case anymore. This social media platform attracted numerous internet users looking for engaging content in the form of pictures and clips.
    Today, real estate agents can use Instagram to share photos and short videos with their audience and even interact with them in the comments section. Additionally, Instagram has a Live feature that’s perfect for hosting open houses and touring the area if someone interested isn’t able to come to the location.
    With all these features in mind, Instagram is undoubtedly one of the leading social media platforms for online lead generation.
  3. Twitter
    Another favourite digital platform is Twitter. The best thing about Twitter is that it’s equally popular among older and younger generations as it focuses on discussing relevant topics and sharing the latest news.
    When it comes to real estate, Twitter is the best place to learn about the newest trends and events happening in the industry. Also, you can use Twitter to share recent updates, publish online newsletters, and share any other news.
  4. YouTube
    There’s no better way to show a property for sale online than via a YouTube video. While Instagram live videos and short clips are a handy alternative, you simply can’t compare the quality of those videos to the videos published on YouTube.
    If you’re ready to take your online lead generation to the next level, we suggest investing in a YouTube account. Publishing high-quality videos filmed with professional equipment and edited is the best way to ensure a smooth, professional, and polished online tour.
    Clients can watch the videos whenever they can and always go back to them, which will motivate them to reach out and ask for more information about the listing. As a result, this type of video marketing is the most captivating way of connecting with clients and increasing interest in a property.

Estate agent leads offline

However, not everything revolves around the online world and social media platforms. There are still plenty of useful lead generation strategies that real estate agents can use offline.

Leafleting

Leaflets have been around for some time now, but they aren’t showing any signs of slowing down. They are an excellent way to reach a large audience in a reasonably short period. The two most important factors for a successful leaflet campaign are to choose a spot where plenty of people circulate and create an attention-grabbing design that includes all the essential contact information.

Telephone marketing

Many real estate agents favour telephone marketing because it doesn’t use any form of mass media to reach potential clients. Instead, each client receives an individual call and approach, allowing agents to personalise their offer and increase their chances of securing leads.

While telephone marketing started with the emergence of landlines, today, it’s also popular among mobile phone devices.

Email marketing

Email marketing campaigns involve sending emails to contacts present in a created database. Similarly to telephone marketing, email marketing campaigns can be personalised. Customising property offers depending on where the clients live or the type of property they’re looking for, realtors can use email marketing to keep them engaged.

Signage

Signage is an excellent choice to provide passers-by with all the necessary information. For instance, touring a property that’s being built is impossible. Yet, real estate agents want to increase the demand for the property as soon as possible, and they can achieve that by using signage.

Signage lets interested and prospective clients find all the information they need to contact the property’s agent and get all the information they need.

Newsletter

Printed newsletters can be shared by postal mail or hand, while electronic newsletters are uploaded online or shared via email. Regardless of the option you go with, all newsletters follow the same outline – they’re fairly short and straight-to-the-point because they’re designed to discuss a particular topic or property.

Newsletters can cover various topics, and they’re excellent for generating leads curious about the real estate industry and current market trends.

Event sponsorship

The real estate industry is known for organising numerous events that need to be sponsored. While sponsoring a part of or the entire event might seem like a waste of money, it’s not. Having your name or your real estate agency’s name printed out is a pretty big deal, as it will result in all attendants memorising your name and brand.

The result of sponsoring an event is increased visibility and lead generation and a higher chance of being referred to by the event attendants.

Partnerships with property developers

It’s never too early to launch a real estate marketing campaign, even if the property in question is being developed or built – that’s what professional partnerships are here for. If you want to become a part of a property’s success, reach out to property developers and negotiate a deal. Property developers will inform you about all the essential features you need before putting a house on the market.

Networking events

Conferences, meetings, seminars, and other event types are primarily held for networking reasons. They are the best opportunities to meet future clients, colleagues, and partners. Whether you’re looking for a potential property buyer, seller, property developer, or another real estate agent, networking events will allow you to connect with the right people in the industry.

Free valuations

If you really want to go out of your way and secure those leads, you can always give free valuation a shot. Namely, this is something many up-and-coming real estate agents do, as it allows them to meet plenty of new people in a relatively short period and create genuine connections.

Giving free valuations means visiting potential house sellers and giving them an approximate sum you can sell their property for. Since property valuation is often paid, offering it for free can attract many house sellers.

Conclusion

All in all, estate agents have an abundance of resources, strategies, and techniques they can use to generate more leads. From online to offline methods, their choices are truly endless.

Finding the right combination of lead generation techniques will take some time, but implementing the Prospect Generator tool will surely assist you in generating record leads in the shortest time possible.

 

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