All real estate agents are well aware that, when it comes to a real estate business, success depends on the effectiveness of their real estate lead generation strategies in obtaining new leads. Today, many agents are unaware that they could make mistakes that could negatively impact their efforts. They need to rethink their lead generation strategies.
Common real estate lead generation mistakes to avoid
We asked our experts about the missteps agents make when they’re new to the business and how to avoid them. We’ve put together this list of those mistakes that many real estate agents tend to make that negatively impact their business.
Mistake 1 – Not using real estate lead generation platforms online
The first lead generation mistake to avoid is that a real estate agent doesn’t use any online lead generation tool. The effects of the pandemic have forever changed the real estate market. Therefore, more effort is needed to find leads.
A lead generation platform for online sellers like Dorrmat can be invaluable for your lead generation strategy. Dorrmat provides you with multiple quality leads through its technologically designed real estate lead generation platform. This ensures that you are never left without leads for your business.
In addition, Dorrmat gives you a plethora of technological features which are a boon for new agents. It provides a robust customer relationship management (CRM) tool, lead capture link, addition of suppliers, and a customizable landing page. The latter can be used to show your potential clients during SEO appointments your certificates, your experience and the rave reviews you have gathered.
Mistake 2 – Using a Unique Marketing Strategy
The next lead generation mistake you should know about is sticking to one marketing strategy. A real estate agent may believe that if one marketing activity is yielding results, there is no need to invest in other modes of marketing.
This could not only cause you to miss out on potential leads, but also hurt your business at the slightest dip in your current strategy. Therefore, it is necessary to conduct various marketing campaigns.
A. Focus on Google
Implement a local search engine optimization (SEO) strategy to get your website high on Google. This will ensure that you will have more visitors to your real estate website. After that, you can develop a local SEO campaign so that you can start targeting local prospects who are looking for real estate agents.
B. Have a social media marketing strategy
You also need to develop a strategy to properly use social media platforms. Create a business account on all major platforms and use them to expand your customer database and share industry information. You can also include Facebook ads and target specific customer demographics to increase your leads.
C. Direct mail marketing
Direct mail is a very effective tool for acquiring new leads and nurturing them for a long time. There are several automated direct mail services with which you can target potential customers in your target location. The physical nature of a postcard or brochure ensures that the customer can see it multiple times. This method is also effective when combined with your drip marketing plans to retain customers.
Mistake 3 – Not using digital tools
Another mistake that a real estate agent makes is that they may decide not to spend money on digital real estate tools. The agent ends up forgetting that you can’t manage everything without technology, and they fail to reach prospects and provide prompt service.
You need to invest in a good customer relationship management (CRM) tool to make sure that you are able to properly track your new prospects and customers. You’ll also need to get DocuSign to get digital signatures, a social media post scheduler, and more. These tools will help you and your team be more effective throughout the process.
Mistake 4 – Not having an effective lead management system
On average, a real estate agent needs to interact with potential clients at least four times before they’re ready to move forward. Many agents tend to label prospects as a dead end without giving them enough time to develop.
It is necessary to have a proper crossover system to ensure that your prospects are not unnecessarily rejected. Establish an appropriate monitoring system and monitor it regularly. This will clearly tell you whether your lead generation strategy is working or not.
Mistake 5 – Not creating a real estate pipeline for prospects
The worst mistake is not following a clearly defined real estate lead pipeline system. This system has a well-planned goal of taking all leads from the initial point of contact until the completion of transactions. At each stage, you need to take action to ensure that leads keep moving up the pipeline to the next stage.
The four steps are as follows.
These are the first responses and interests you receive from any lead generation activity you have undertaken. These are also tagged as the first contact.
B. Strong outlook
These are the prospects who have shown a clear interest in the services you offer or the ads you have in the market. These are avenues where there is a strong prospect of a business opportunity.
C. Customer on board
This is the stage where prospects agree to let you represent their real estate interests and sign a listing agreement or contract with you.
D. Satisfied customer
Once the transaction has been completed satisfactorily, you need to make sure that your clients are willing to provide you with referrals and renew their business in the future.
Having an effective lead generation strategy in place is essential for your real estate career. However, when you get ready to create your plan, make sure you don’t make the mistakes described above.
Success in the real estate market depends on many factors, and real estate agents must constantly learn how to progress in this field. With the strategies mentioned in this article, you can make more money and be successful because now you know how to avoid real estate lead generation mistakes.