Here’s what you need to know about lead generation and building your business.
There’s one thing that makes you successful as a real estate agent: lead generation.
There are two parts to lead generation—growing your business and running your business. Growing your business means prospecting for buyers and sellers, doing listing presentations, and practicing scripts so you know what to say when you find buyers and sellers. Running your business involves marketing, showing houses, negotiating contracts, and working with other agents to buy or sell houses. The focus of today is your lead generation model. It’s important for you to know that there are systems and models for you.
In the model at 1:09 in the video above, you can see how each piece of lead generation works, from the initial contact with your client all the way to closing. This model also shows you three different phases: lead generation activities, database activities, and sales pipeline. The top part of the model is part one, lead generation. This is the part of the model where you focus on generating leads through prospecting and marketing for clients. Prospecting, as we’ve already established, means finding new clients (making videos, doing phone calls, communicating with clients, etc.). Marketing is when you attract leads through marketing. Not only is this great for working with new leads, but also with repeat clients and those you already know.
Part two involves working with your database. This is also when you’re working with your leads, and they’re divided into several categories, including those who know you and those who don’t know you yet. During this phase, you’re staying top of mind with each of your clients so you can take them to the next stage of their business, either as a new buyer or seller, repeat buyer or seller, or referral partner.
Part three focuses on your sales pipeline. Once a lead (or contact) tells you they’re ready to buy, sell, or invest in real estate, they move into your sales pipeline from contact to close. After the deal closes, the process starts over again. The client moves back to the first phase, the cultivation stage, and you communicate with them for future deals.
Thus concludes the first video of our lead generation series. If you have questions about this topic or are interested in a one-on-one strategy call, don’t hesitate to reach out to me. I’d love to speak with you. Also, stay tuned for our next video where we’ll discuss lead generation activities that increase your business.