Real Estate Lead Generation Isn’t Your Problem. This Is:
Most agents think real estate lead generation is the problem. They try to get leads. But end up just spinning their wheels. Here's what they're doing wrong:
Most people think real estate lead generation is their problem…
Leads are NOT your problem.
If I had a seller referral for you, would you pay me a 20% referral fee for it?
Almost any registered real estate agent would take that deal! It’d be a nice paycheck. It’s basically a sealed deal. And it’d be an easy transaction.
You’re basically guaranteed to make money.
The problem with these types of transactions is that it’s hard to find enough of them to keep yourself in business.
So, Sean & I built you a free calculator that shows how we can take this “guaranteed” money for the price of 20% and turn it into a sustainable business model for you.
Let’s talk about why lead generation isn’t the problem…
You basically have two ways of generating real estate leads.
You can either use your time or your money. Both of these methods have drawbacks and advantages. But literally every single marketing method takes one of these two things.
AND every agent would happily pay a 20% referral fee for a closed deal.
These three facts are what you need to consider when building your lead generation machine.
Let’s dive deeper:
It basically says that you can achieve predictable results from any repeated activity. That means:
These numbers (after you have a large enough sample size) can be averaged & are usually REALLY predictable.
And when you have predictable numbers you can be very confident about lead generation.
Almost every agent would take that deal because it’s guaranteed money.
But here’s the thing:
It is really hard to consistently find real estate referrals.
…And while paying 20% for a ‘closed deal’ sounds good on paper:
This type of business is really unstable.
Now, Tom Ferry would tell you the solution is cold calling 10 hours a day until you generated enough leads to hit your goals…
…but I’m not Tom.
I’d use this free calculator Sean and I built to generate a chart like this:
Then, I’d write down a list of ways I can generate 1053 leads this year for under $33 per lead.
Unless you’ve lied on your conversion numbers, leads that cost less that $33 per lead are going to be cheaper than running a business 100% off of referrals.
THINK ABOUT THAT.
If you know your numbers, you can pay for any type of lead from anywhere.
And as long as it’s under your cost per day, you’ll know it’s a better deal than accepting a referral.
In fact, you’d be better off working deals! You’ll be making more money than if you were to give away 20% to a referral source.
The best part:
There are literally thousands of ways to find leads that cost less than $33/lead. You can run ads everywhere! You can invest in SEO. You can focus on spending money to get more referrals from your sphere.
Spending this money and advertising up front is only scary when you don’t know your numbers.
And unless you’re lying about your lead conversion numbers, you can be INSANELY profitable if you build lead sources that capture leads for you under the cost per lead you need to hit!
My point is simple:
Go download the calculator today. And figure out how many leads you need to generate yourself.
Then, find ways to generate leads for less than the dollar amount per lead the spreadsheet gives you!
Is your pipeline as dry as the Sahara Desert? Try these 53 HUGE lead generating ideas for real estate agents. PS: There is 1 lead gen idea that is so secret it will make your head explode.
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Let’s boost your lead gen.