It can be a very difficult time for you and your real estate business if you are trying to figure out which real estate company provides leads. You can spend countless hours researching Realtor leads, but what if you found out that most of them are worthless? How can you tell which real estate lead generating companies are good and which ones are bad? In this article, you will find out the top criteria that real estate companies use to turn leads into sales.
One of the biggest indicators to determine if a lead is legitimate is the cost of the sale. In almost every industry today, the price of the product or service attached to the lead is a big indicator of its quality and relevance. If a real estate company has cheap leads that don’t really have much information on them, then you know they aren’t very likely to convert into sales. The more valuable and detailed the lead is, the more likely it will convert to a sale.
The same holds true for real estate leads. Low quality leads will cost you money because they won’t convert. But high quality leads cost almost nothing because they provide tons of information about properties. Properties that a real estate lead is attempting to market are usually in great condition and are in locations where people are willing to buy. Typically, real estate leads will turn into a full sale when the prospect sees how much information the agent has and whether they are qualified to buy the home.
Another thing to look for is the listing price for the home. The real estate agent has a vested interest in keeping the price low. Since agents earn their commission based only on the sale price of a property, they are going to price the listing higher to bring in more buyers. When an investor lists a real estate property for less than it is worth, it’s usually because they have limited profit.
You want to find real estate leads that are priced at a level that makes them profitable to purchase. It’s also important to understand that not every real estate lead is going to be a winner. Many leads are generated simply based on the name of the homeowner. Other leads may be generated simply based on the neighborhood and similar homes in the area.
This means that your prospecting strategy should include several different approaches to generating leads. You’ll want to build a list of homes based on several different criteria. One way to build leads is to advertise on television. There are many advertisements on major networks during prime time, which are designed to target a specific market. Your real estate company can purchase television ad space for almost any price, allowing you to reach many people with your ads.
You may also want to consider cold calling real estate agents. Many individuals prefer to contact an agent face to face, rather than simply emailing information. If you have an established reputation as a reputable real estate agent you’ll likely have several leads from your past clients. This can be a great tactic to drive new leads to your company. Be sure to provide quality information about your company and its offerings to help build your credibility and your client base.
You can also find solid real estate leads online. Some websites provide a database of active home owners and detailed information about their mortgage loan. The disadvantage to this approach is that there is no contact information provided other than an address. If you don’t have contact information, however, the website is probably worthless.