The Two Categories of Lead Generation
Our usual Monday Morning meeting was held on Tuesday this week so welcome to back to back blog posts. Today the posts are filed under The Morning Meeting AND Mastermind.We had a better than expected turnout probably because there was a rumour that I would be serving Champagne in honour of our first year anniversary. The rumour was true and Mr. Tom Bosley himself was with us to pop the corks. This being a work day, we added a little OJ to the bubbly.
Our meeting got off to a roaring start and it seems like we are in for a busy, if not slightly frustrating, fall market. By a show of hands and some quick math, our agents said that they would be listing about 30 properties in the next 2 weeks. Conversely they had nearly a 100 buyers waiting for the right property. That is sure signs of a continued and growing Seller’s Market. The discussion was a perfect lead in to the topic of the morning; Lead generating.
There are, strictly speaking, two categories of lead generation. The first is to ask for business and the second is to get people to ask you for your service. So, I put the question to our group; what are the ways we can ask for business? Here are some ideas;
- Referrals. Get past clients to refer you to their friends and family. Keep communicating to your past clients and don’t be afraid to ask for their referral.
- Cold Calling. Most people hate cold calling, but it can work. Be persistent and if you get someone who shows interest, ask them for an opportunity to prove your worth.
- Warm Calling. Warm calling is simply Cold Calling’s happy cousin. If you have a reason to call a perfect stranger, it generally goes a bit smoother.
- Existing Leads. All to often we show homes to our clients and wait for them to decide. Next time ask them if they are ready to put in an offer.
- Expired Listings. Kind of a tricky one because of privacy issues. Also the only expired listings I know about are the ones you probably don’t want to take.
- Open Houses. Lots of agents do open houses not to sell the house, but to pick up clients. Qualify them as they are walking in. Are you working with someone? Are you looking to buy today? etc.
- Social gatherings. 3 words; Network, network, network. Get out and mingle. tell people you are a realtor. Find out if they want to buy something.
Part two of Lead Generation is getting people to come to you and ask for your help. Believe it or not it is easier than it sounds if you are prepared to do the work. Of course I am talking about my favorite topic, Social Media. Like everything else, you get out what you put in. Working hard to create an edge, whether as someone who has a handle on a particular neighbourhood, or someone who reports the latest news, or simply has a compelling story to tell, creates interest and then a connection. The more connections you have, the more business you can generate. I told a story of an agent I know who works for another company. He is young and eager, AND a master blogger. His blog is read by over 3000 people a month and he generates 3-5 leads per month. It is enough to keep him extremely busy. His secret? Keep the posts interesting. He shows his sense of humour and his knowledge in condo sales. He mixes it up and pays attention, through analytic tracking, to what works and what doesn’t. For him, Social Marketing is as much a science as it is an art.
I look forward to an amazing Fall Market. If you have any questions or comments please shoot me an email anytime.