All real estate agents are well aware that when it comes to the real estate business, success depends on how effective their real estate lead generation strategies are in getting them new leads. Now, many agents are unaware that they could be making mistakes that could be adversely impacting their efforts. They need to re-think their lead generation strategies.
Common Real Estate Lead Generation Mistakes To Avoid
We asked our experts about the missteps that agents make when they are new to the business and how to avoid them. We have put together this list of those mistakes that many real estate agents tend to make and which impact their business adversely.
Mistake 1 — Not Utilizing Online Real Estate Lead Generation Platforms
The first lead generation mistake to avoid is that a real estate agent is not using any online lead generation tools. The effects of the pandemic have changed the real estate market forever. Therefore, additional efforts are needed to find leads.
An online seller lead generation platform like Dorrmat can be valuable to your lead generation strategy. Dorrmat provides you with multiple quality seller leads through its technologically designed real estate lead generation platform. This ensures that you are never left without leads for your business.
Moreover, Dorrmat provides you with a host of tech features that is a boon for new agents. It provides a robust Customer Relationship Management (CRM) tool, a lead capture link, vendor addition, and a customizable landing page. The last can be used to show your potential clients during listing appointments your certificates, experience, and glowing reviews that you have gathered.
Mistake 2 — Utilizing Single Marketing Strategy
The next on the list of lead generation mistakes to be aware of is that of sticking to only a single marketing strategy. A real estate agent may believe that if a marketing activity is gaining them the results, then there is no need to invest in other marketing modes.
This could not only cause you to miss out on possible leads but also adversely affect your business at the slightest dip in your current strategy. Therefore, it is necessary to run diverse marketing campaigns.
A. Focus On Google
Set up a local search engine optimization (SEO) strategy so that your website is among the top results on Google. This will ensure that you have more visitors to your real estate website. After that, you can develop a local SEO campaign so that you can start targeting local leads who are looking for real estate agents.
B. Have A Social Media Marketing Strategy
You also need to develop a strategy to utilize social media platforms adequately. Create a business account on all major platforms and use them to widen your client database and share industry information. You can also include Facebook ads and target specific customer demographics to boost your leads.
C. Direct Mail Marketing
Direct mail marketing is a highly effective tool to acquire new leads and nurture them for a long period. There are multiple automated direct mailing services with which you can target potential clients in your target location. The physical nature of a postcard or a brochure ensures that the client may see it multiple times. This method is also effective when combined with your drip marketing plans to keep clients engaged.
Mistake 3 — Not Utilizing Digital Tools
Another mistake that a real estate agent makes is that he may decide not to spend money on digital tools of the real estate business. The agent ends up forgetting that it is not possible to handle everything without tech, and they are failing to reach the leads and provide timely service.
You need to invest in a good Customer Relationship Management (CRM) tool to ensure that you are able to track your new leads and clients properly. You would also have to get DocuSign for obtaining digital signatures, a social media post scheduler, and more. These tools will help you and your team be more efficient in the entire process.
Mistake 4 — Not Having A Successful Lead Management System
On average, a real estate agent needs to interact with potential clients at least four times before they are ready to progress. Many agents tend to label leads as a dead-end without giving them adequate time to grow.
There is a need to have a proper cross-system to ensure that your leads are not getting discarded unnecessarily. Establish a proper tracking system and monitor it on a regular basis. This will give you a clear indication of whether your lead generation strategy is working or not.
Mistake 5 — Not Creating A Real Estate Pipeline For The Leads
The worst mistake is not following a clearly defined real estate lead pipeline system. This system has a well-planned objective of taking all leads from the point of initial contact till the completion of the transactions. In each stage, you should take steps to ensure that the leads keep progressing through the pipeline to the next stage.
The four stages are as follows.
These are the initial responses and interests that you receive from all the lead generation activities that you have undertaken. These are also labeled as the first contact.
B. Strong Prospect
These are the leads who have demonstrated a clear interest in either the services you offer or any listings that you have on the market. These are leads where there is a strong prospect of business opportunity.
C. Client On-Board
This is the stage when the leads agree to let you represent their real estate interests and sign a listing agreement or contract with you.
D. Satisfied Client
Once the transaction has been fulfilled satisfactorily, you need to ensure that your clients are willing to provide you referrals and repeat business in the future.
It is vital to your real estate career that you have an effective lead generation strategy in place. However, when you set out to create your plan for it, make sure that you do not make the mistakes discussed above.
Success in the real estate market is based on multiple factors, and real estate agents have to constantly keep learning to get ahead in this business. With the strategies mentioned in this article, you can make more money and become successful as you now know how to avoid real estate lead generation mistakes.