Hot Tip: 7 Ways to Avoid a Lead Drought

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Did you ever notice that low production agents whine about not having any leads while top producers can hardly keep up? What’s the real deal here? The truth is leads are everywhere!

The real reason that leads sometimes seem scarce is the challenge of being a single entrepreneur. When you are a one-person service provider and responsible for keeping your income consistent, you must keep several balls bouncing at the same time: prospecting for new leads, incubating current leads and working with buyers and sellers who are ready to work with you now… it’s a challenge for sure!

The failure zone occurs when agents neglect to set up systems to handle a lead funnel that works 24/7 while they are busy working with top priority prospects. After generating leads, the best way to service incoming prospects is to have the processes in place to stay valuable and connected during the incubation process. It is important to know how to prioritize the hot leads to get attention first and how to place the others in a dependable system to grow, nurture and incubate until they are closer to needing your services.

If you don’t have a system, you resort to “lead collection” instead of “lead conversion”. Without a system in place you are headed for some dry spots in both income and productivity.Drought

Verl Workman, super coach and our August Success Series expert, says there are leads everywhere, and there is no excuse for struggling in business today. The secret is to have multiple funnels out there, so you can work with motivated buyers and sellers while growing a full database of prospective buyers and sellers who are not quite ready for your concentrated attention.

Here are seven lead generation strategies to consider:

1)  Get clear on the lead generation business. It requires both on and offline activities to stay “top of mind” and top of the list. You need to spend as much time working in your business as “on” your business. Develop your LinkedIn business profile with recommendations and testimonials. Consider conducting a monthly or quarterly breakfast, lunch or wine and cheese meeting with referral resources. If you aren’t strategically and consistently nurturing your referral partners, you will be forgotten.

2)  Use a website that offers automatic lead capture and lead drip systems that work while you don’t. Point2Agent sites offer multiple levels of drip messaging and reports to help you grow your leads to customers that result in sales. Don’t forget to check your new leads daily!

3)  Think of what information you would find valuable coming to you on a regular basis. Even if you have no plans to move anytime soon, you are most likely always interested in the home values in your area, new construction growth, corporate transfers and new school initiatives. Run a survey, call and ask, or create a post on social media offering 2 or 3 choices of information and reports you think your sphere of influence would find valuable. Then start the process of communicating this information on a consistent basis and position yourself as their “go to” resource. Providing relevant information will help you become their authority in the marketplace and keep you top of mind for referrals.

4)  Leverage those business professionals and their contacts that you do business with every day. Your attorney, your dry cleaner, your accountant and your home inspectors are involved in daily transactions with people who are prospects for your business. Set up regular communications with these strategic partners to be sure they know you are continually referring your customers and clients to them as you assist new customers that come into your marketplace. Organize free consultations, discount coupons or welcome letters as you become the conduit to help them grow their business through yours. Check back regularly to be sure they are referring your services as well. Not getting referrals lately from your contact? Find another source to refer your valuable leads to and move on.

5)  Make it a practice to “have lunch”… or at least meet with your referral network of people who have connections tangent to the real estate transaction about once a month. This can include attorneys, architects, inspectors, appraisers, loan originators, decorators and the list goes on! At your meeting, find out what is happening in their businesses and how you can help. Think about leveraging their services and expertise on your website in the form of a video interview or a short list of tips that you can send to your farm and sphere of influence. No one turns down help spreading the word about their services, and the law of reciprocity works just great to help you, too.

6)  Focus and concentrate! Use programs that help you refer those leads that you are not highly equipped to handle. Think about using programs like Point2’s Handshake to build referral networking with agents just outside of your primary area. You can’t be an expert at all things real estate, so build your book of referring those leads that need the expert services of an agent in another region or specialization so your customer gets the best of all services. You can expect that agent will do the same for you! Check in regularly to see if you can help in any way to keep the connection fresh and supportive.

7)  Follow up with past clients. Embarrassed that you haven’t connected since the closing? Use it as a time to re-engage and revitalize your connection. Offer a new update on their neighborhood or a market consultation to show the latest home values. Save money and time by reconnecting with those customers who already know you and secure up a great way to get warm referrals.

Don’t get yourself in a drought cycle of business dead ends. Have systems in place to keep your sales funnel full to help you make more profits, more easily.

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