3-Legged Stool of Lead Generation

Posted by: Wayne Long on May 7th, 2008

Leads are the lifeblood for an agent. Without leads it really doesn’t matter what else you do well. If you have no leads you have no one to convert to a client and therefore no one to follow up with and no sales to close.

I think a successful REALTOR® will have more than one avenue in his lead generation model. If one method fails or slows he/she will have other ways to keep his business successful.

Consistency is one of the main keys in a successful Real Estate practice. I think you have to pick about 3 lead generation tools—a 3-legged stool if you will –- that will keep your pipeline full.

The three we use are as follows:

1) Internet—Surprise!

We use a combination of our own websites and the HomeGain system. Our own sites include one devoted specifically to Fort Benning, Georgia, Real Estate as well as one devoted to Columbus Georgia Real Estate and rank well on their own merit.

We also use HomeGain marketing programs, BuyerLink and AgentEvaluator to drive clients and traffic.

2) Sphere of Influence

We continually add to our database of past clients and others we know. We send out a monthly newsletter, sports calendar magnets (like SEC football schedules), and touch base periodically by phone and in person.

3) Builders

We market new homes specifically for builders in our area. We enjoy working with builders by giving input on market conditions and new trends. We also put special emphasis on the marketing of their homes.

This is our 3-legged stool.

Others market to FSBOs, Expireds, REO, Investors, or Commercial. All of us have different strengths and we should play to those strengths and to what we enjoy.

The important thing is to have a multi-faceted lead generation model to keep your client pipeline full on a consistent basis!

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3 Comments on “3-Legged Stool of Lead Generation”

Mitch Ribak

Great Stuff. We have been entering the builder world lately to add to our local lead generation. As most of you know, I do almost all Internet marketing to drive my lead flow. However, there is a down side to capturing an immense amount of leads…we are too busy. Ok, it’s a good downside to have. One of the benefits of generating a lot of leads and building a very large database, ours is a little over 29,500 buyers right now, is the power it gives you for other marketing programs. As mentioned, we have been talking with builders and because of the size of our database and the amount of buyers we service, we have just negotiated a two community marketing deal with one builder and have developed another relationship where my Agents are sitting “floor” duty for another builder with them paying us 3% and allowed to take the buyers who don’t buy with us. It’s a win/win situation for both of us. They get free help, and we get free leads. Leads are the life blood of any business. The more you diversify your generation, the more business you will receive.

Sean Purcell

Wayne,

Nice post. I agree with you and have been using the 3 legged stool analogy for a few years now. One difference though: I think of the internet as a process more than a leg.

I recommend sphere of influence as a primary leg too. Builders are another great leg for agents (with originators I recommend agents.) but instead of internet my third leg is called “U-pick ‘em”.

That leg is based on the observation that the vast majority of people in our industry came from another industry. I have the agents & originators I work for sit down and discover an area of their life they feel strongly about. It could be their past career, a hobby, a charity, a sport… something they care about and love. We then devise a marketing plan around that niche.

Another idea to work with Wayne. Keep up the great posts.

Ken Smith

Great post Wayne. I think that with how easy internet marketing is that you need to stay focused and not give up on other types of marketing.

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