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Real Estate Leads 101 – Are You Copping Out of Following Up

Ashley Lichty asked:




Working with a lead generation company has given me interesting insight into both real estate leads and agents. I dealt with both ends: the consumer and the agents themselves, and my job was to make them both happy. Yeah right. Easier said than done.

The consumer side is easy – real estate leads want a home value, they want information on the market, they want a real estate agent and we get them that. The real estate agents? Well that’s another story – they pretty much wanted everything under the sun when it comes to real estate leads. They wanted to be handed people ready to list their homes with them asap, with no work involved on the agent’s part. They want listings, not real estate leads.

Well, if I could provide that consistently, all the time, I’d either have a multi-million dollar company, or I’d be doing real estate full time myself. Get this through your heads agents: there is no magic service out there that will hand you listings for a low fee. Instead, these services provide you with real estate leads and it is YOUR job to turn them into clients. Got that? Real estate leads + you = clients!

YOU went to the classes, YOU studied up on sales and marketing techniques and YOU printed up all kinds of trinkets with your name and logo on them for your real estate leads. Ergo, YOU must convince your real estate leads to work with you. And if you’re not converting them, maybe you need to take a look at your own methods, rather than immediately blame the source of the real estate leads.

By now, I’ve probably heard every excuse under the sun as to why online real estate leads are bad or bogus. And that’s all it is, an excuse, a cop out to make you feel better about not being able to turn your real estate leads into listings. That being said, here are the top 5 cop-outs I’ve heard over the years about following up with real estate leads and my responses to them.

1. I’m a new agent and no one wants to use a new agent.

Well, how do they know you’re a new agent? Did you announce it the second you spoke with your real estate leads? You don’t need to tell all your real estate leads that you’re new. If they ask, tell them, and be honest, but don’t just volunteer the information. And how to you know “no one” wants to use a new agent – sounds like a gross generalization to me. You won’t know until you get out there and try – convince your real estate leads that to be new means you’re cutting edge, the best thing out there right now, show them what an expert you’ve become, even if you’re new to the business. Just TRY to convert them. Assuming from the start your real estate leads won’t want to use you because you’re new doesn’t even give you a chance.

2. Some real estate leads are on the Do Not Call Registry.

So? There’s no such thing as a Do Not Knock list. If your real estate leads are on the DNC Registry and you feel THAT uncomfortable risking a call, you should have your butt in the car, directions in your hand and preparing yourself mentally for your introduction once you knock at their door. And actually, as per the basic rules of the Do Not Call Registry, if a consumer on the lists makes an inquiry (which is what online real estate leads are!), you can contact them for up to 3 months after the inquiry. So you’ve got 3 months to get them on the phone, after that, there’s still always that door! Don’t use the DNC as a cop-out method with real estate leads. It’s a flimsy excuse.

3. It’s unprofessional to go knock on someone’s door.

This is the line I usually got after suggesting stopping by the property. My thing is, who said so? Who told you it is unprofessional to go visit your real estate leads’ homes and drop off the information they requested? That is a matter of opinion and as long as your real estate leads don’t think it’s unprofessional, you’re good. And by showing initiative and going out of your way to meet your real estate leads, you may have just earned a client for life.

4. These real estate leads are too far from my area, or it’s in a very bad part of town.

This is probably my favorite cop out, because it just sounds ridiculous to me. If your real estate leads are too far, why did you sign up for that area? Or, if you are getting some real estate leads out of your area, how far? Most of the time, agents complain about having to drive 30 minutes away. To me, 30 minutes of my time is DEFINITELY worth the fat commission check I could get. And if some real estate leads are too far, haven’t you EVER heard of a REFERRAL COMMISSION? Find an great agent in the lead’s area and send it on over. That way you’ll still get a portion of the commission AND you’ve saved 30 precious minutes of your time.

When real estate leads are in a bad part of town, it usually means it’s a very low-value home and is located in either a ghetto or backwater somewhere. It pisses me off when real estate agents say that the home isn’t worth their time. Guess what buddy? When you got your license, you gained knowledge that others don’t have, but will need at some point. You should be willing and open to share this with your real estate leads, no matter what the economic status of their home and income is. If you don’t want to help them, no one can force you, but you are a BAD agent if you’re not at least willing to find someone who will your real estate leads.

5. If they wanted to be contacted, they would have given all their correct contact information.

This is a tough one, because on one level I do agree with this SOMEWHAT. Real estate leads who give a good name, number, address and email seems to be more approachable than real estate leads that have fake names, or fake numbers, etc. But again, this statement is really a matter of opinion. You have NO idea what’s going through the consumer’s head when they filled out their information. Maybe they’re not technologically savvy and thought if they put their phone number over the Web, everybody would get it. Maybe they mistyped something. Maybe they don’t want to be hassled daily by telemarketer calls but DO still want the information. Until you actually touch base with your real estate leads, you have no idea where their head is at. What would hurt worse, getting a phone slammed in your ear, or missing out on a $15,000 commission because you THOUGHT they didn’t need anything since they gave a wrong phone number?

These 5 objections are really just cop-outs and excuses in disguise for not following up with your real estate leads. And pretty flimsy ones at that. If these are your objections to your real estate leads, you need to stop sitting around thinking up objections and just get out there and GO. Start contacting those real estate leads, start making phone calls and sending postcards. You may not convert them all, but I guarantee if you put your all into following up with every single one of your real estate leads no matter what objections you may have, you will see a HUGE increase in your conversion rate. You just have to get in there and TRY.

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Purchasing Real Time Mortgage Leads

Jay Conners asked:




If you are a loan officer or mortgage broker, you may have played around with the idea of purchasing mortgage leads.

You, like many loan officers in the mortgage industry, may be a little skeptical when it comes to buying mortgage leads from a mortgage lead company.

You probably have heard all the horror stories from people in the industry that have been burned or have lost their money.

Some of this may be true. However, sometimes it has a lot to do with the lead itself and the company it has been purchased from.

For instance, a lot of lead companies purchase their leads in bulk from third party companies, than turn around and sell them to loan officers at a profit.

This is what is known as recycling leads or selling junk leads. These leads have been sold countless times and have gone through the hands of many loan officers before it reached your desk.

The chances of closing a lead like this are slim to none.

This is a very good reason to consider purchasing “real time” leads.

Real time leads are leads that are delivered to your doorstep literally seconds after the consumer submits it through an on line streamline process.

With real time leads you won’t have people hanging up on you, disconnected numbers, or people saying things such as “I did that months ago.”

One tip I can give you . . .

Call the lead company you are considering doing business with. Speak with someone in customer service and find out where the leads are coming from and how they will be delivered.

If the lead company does not own and operate the sites they obtain their leads from, than keep going until you find one that does.

Remember, if you are not happy with the answers you receive from customer service, than chances are, you will not be happy with the leads they send you.

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Mortgage Leads, Real Time,Three Ways to Increase Applications

Jay Conners asked:




There are a lot of people in the mortgage business and they will find that the first thing that you need to get is some applications. Many people will want to score at least one mortgage a week. However, there are things that will help you get the approvals, but it takes work. You are going to spend a lot of time on the phone making calls to everyone who has approached you first, or you will find that there are outgoing calls that you will need to make to some people who fit your profile or that was referred to you. You will find that there are plenty of people to call to get the mortgage applications.

To get the applications, you are first going to want to get prepared. You will want to have everything in front of you at your desk. You will want to make sure that if there were any questions you will find the answers and quickly. You will want to have all of your resources near because you don’t want to put your customer on hold to find what you need, because that just doesn’t cut it.

Secondly, you will need to get comfortable with each and every potential sale. If you have the knowledge, it’ll be a breeze. Also, you have to be 100% business all day long every day. You will find that if you take the time to find an interest in your customer, you will be able to find that you can relax and make the sale. Like if you hear a baby crying or even the dog scratching at the door, you will want to mention it and then say something that will make a bond.

Also, you will want to be quick when it comes to the no’s. You can’t just take the objection sitting down, you will want to justify their worries, but also you will want to jump at the chance to show them that everything is okay. When it comes to things like mortgages, you will find that it’s a huge commitment and it’s going to be something that will need to be done with caution.

When they say things like they have to speak to their spouse, you will want to offer to talk to them about the benefits of the mortgage and if they aren’t available, see if you can make an appointment to talk to them both at another time. They may even say that they have to think about it. All you have to do to respond to them is just ask them if they need any clarification of something and also if they have any questions.

When they say they need to think about it, you don’t want to push it. You will find that you don’t want to get them talking about it more, but you will want to politely show yourself the door and that you will contact them in a few days to talk it over some more or that you will give them a brochure to look over.

Finally, you will find that you will need to look for some internet mortgage leads. You will find that if you take the opportunity to take every lead as a potential sell, your customer should be happy to apply for a mortgage. The lead itself will make it clear that they need to and want to apply for a mortgage. So it’s worth every shot. It isn’t hard to get the applications as soon as you take advantage of the opportunities.

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Real Estate Leads – Comparing Lead Generation Sources

Ashley Lichty asked:




Real estate leads are as good as gold to a real estate professional – literally. The real estate leads you follow up with today are your clients tomorrow and your paycheck a month from now. Much of your time as a real estate professional is spent generating real estate leads and converting those leads to clients. The advent of the Internet and its emergence into main stream culture brought a new tool to real estate agents in the late 90s: online lead generation services.

Nowadays, the majority of people looking to buy or sell a home or do anything real estate wise are going to the internet first. Years ago, people would get ready to buy or sell, and then walk into a local Realty office and get themselves a real estate agents. Now, they can start researching real estate anywhere from 3 months to 5 years before they actually make a move! That means real estate professionals need to come up with new ways to catch these real estate leads early, so they have time to work them and turn them into clients. There are two major ways to do that now: purchasing a lead generation service and paying for real estate leads and creating your own website with contact pages to generate your own real estate leads.

Which way is better? Truthfully, if you’re not doing both, you’re not being as successful as you could be. Any real estate professional who wants to be a top producer NEEDS their own personal website with homeowner information, contact forms, a blog, etc. That way real estate leads can FIND you on the web.

On the other end, the majority of top producers out there not only have their own website, but they also subscribe to one or more lead generation service, such as HouseValues or GetMyHomesValue. Companies such as these sell real estate leads to agents either at a monthly subscription price, or having the agent pay per lead. These services set up websites offering homeowners free home value information in exchange for their contact information. Basically, a homeowner goes and fills out a simple form about themselves, their contact information and their home and submits it to the company’s website. The company in turn, gives this “lead” to whatever real estate professional they have subscribed in that lead’s area and it is up to the real estate agent themselves to work up the value and follow-up with these real estate leads.

Each lead generation company does things a bit differently: for instance, GetMyHomesValue offers exclusive leads – where the lead is given to one and only one agent in the area, whereas other companies out there will sell the same real estate leads to several different agents. HouseValues has extensive e-mail drip campaigns and scripts to make follow-up a bit easier for agents, while GetMyHomesValue has their staff attempt to contact the leads several times for the agent and then leaves the rest of the follow-up to the individual agent.

The criticism most of these lead generation companies receive has to do with what actually constitutes real estate leads. Because these “leads” are filling out information online, they can often give fake information to avoid being contacted. This then makes it harder for the agents to follow up with the leads.

The successful agent, however, does not give up with confronted with real estate leads that give a property address and e-mail address, but a bad name and number. A great agent will exhaust all options of follow up before scrapping ANY lead, such as using public directories like the White Pages online, tax records of the property, reverse look-ups, etc. They will e-mail the lead on a weekly basis and even stop by the property listed in order to determine who actually submitted the lead.

What happens when the owners of the property claim they did not request their home value information, nor are they looking to sell? The no-so-hot agent will be angry at the waste of their time and blame the lead generation company for selling bogus real estate leads. The HOT agent will introduce themselves anyway, offer their services in any way they can and hand out a business card, then lead the home content in the knowledge that although they may not have gotten to the bottom of the lead, they did just add another prospect to their pipeline of real estate leads.

Online lead generation tools are a HUGE asset to real estate professionals – when used correctly. To be successful with real estate leads gathered online, you’ve got to be ready to work hard and long. You may not convert the lead for 6 months, a year, even two years, but as long as you’re working your real estate leads and keeping your name in their head, you’ve got a leg up on the competition.

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Exclusive Real-Time Mortgage Leads

Ems Aleks asked:




According to the edge when it comes to providing your company with exclusive mortgage broker, mortgage leads quality in real time can lead to great success. Success is for you to buy your company and your customers with an efficient data. Knowledge, information, if it happens, is in the right relationship with the client. If you are driven exclusively, you know that your company will be the only contact with these customers. Even if you half-real time exclusive mortgage leads one of 4 companies will be able to make initial contact with the will and win as customers.

Effective business comes from giving information that is negotiated as soon as possible. Once you have information leading to the mortgage lead, you can give your company the edge it needed to beat the competition to perform operations as soon as possible. Receive exclusive mortgage leads from a reliable company means that the only information of your company. This also means that the quality of these tracks leads to the right information to convert the lead. There is no doubt that a company that provides this data for your company or asset. The selection of exclusive tracks will not be allowed to sell more expensive is the only company to communicate with consumers into satisfied customers.

There are other options when it comes to getting information that mortgage leads to type your mortgage lead brokerage firm is marginal. Now, when you get the information you may choose to make semi-exclusive mortgage leads. This information is always correct, and with the best quality you only compete with 3 other companies for this company is the consumer. Thanks to the quality of the sales team of your company, you will be able to use those prospects into customers who were with the timely service they are happy to convert.

There are reliable mortgage leads that can boost sales and help consumers meet the financial needs. The use of these resources is important for the success of your business mortgage brokers. Mortgage Lead information, what happens now, you can use to consumers, before other companies to contact and perhaps even before they decide to go in a different way. The information you give them will help them answer questions and was the first company to meet their needs you can answer the door open to these issues.

Create the edge of your investment is only possible if you lead a company that will lead to valuable information such as real exclusive mortgage lead and semi exclusive. This information is your mediation is the only or one of the few who need the services of these consumers, it is in contact. This means you can choose the option that more competition to shine, if that is the case, this time for the sale of your business know-how. Enjoy quality mortgage leads at the edge of the brokerage firm mortgage offer.

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Are Free Real Estate Buyer Leads Worth Your Time?

Bob Blouin asked:




If you are in the real estate business then you are probably familiar with the term “lead generation”. It is important to generate leads in order for your real estate business to grow, but many individuals are still having difficulty in coming up with effective lead generation techniques. If you browse the internet regarding this topic, you will find that the phrase “free real estate buyer leads” is among the most widely searched through popular search engines like Google and Yahoo. This seems to indicate that a majority of real estate agents are looking for ways to get real estate leads online for free.

This idea may get you to thinking, “Is it wise to use the so-called free leads services being advertised online?” Well, this is a very wise question indeed, because experienced agents agree that in this business you usually get what you pay for. This would mean that if you do not spend anything on your lead generation strategy then you are less likely to profit from it. Just imagine how much time, effort and money it takes for people to come up with a lead generating program and sustain it. Do you really think they would just give those leads away?

There are only two things that are likely to happen when you make use of these free real estate buyer leads: either you discover that the leads are all junk, or you discover a catch to the so-called “free” service. Now that you understand that using free leads is not the ideal way to push your business forward, you need to look elsewhere for a solution. In general, there are two types of real estate buyer lead sources that you can pursue. You can either pay to join a lead referral program or generate the leads yourself. If you are thinking of buying leads then you again have to keep in mind that you usually get what you pay for.

So, how do you know which types of leads are worth paying for? Well, buyer leads are generally categorized into valuable leads and low-value leads. Valuable leads are the names and contact information of people who are actually seeking information on home buying in your locality. Simply put, these are the people that you are looking for. On the other hand, low-value leads are the names and contact information of regular individuals. These leads are less likely to turn into actual purchases.

Of course, valuable leads are going to cost a lot more than low-value leads because they are more targeted towards your ideal market and are more likely to bring in profits. If you feel that you are not yet in the position wherein you can afford to spend so much on lead generation then you may want to opt for a combination of low-value leads and self-generation of leads. You can generate leads on your own by creating a blogsite and advertising your services there or buy using the classic ugly yellow signs strategy. Any of these techniques are a whole lot better than so-called free real estate buyer leads.

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Buy Real Estate Leads – Improve Your Real Estate Business

Max Suther asked:




Do you spend most of your time searching for great real estate leads? As a real estate agent or broker you require leads that help you generate business and keep the cash flowing in.

With time, the real estate industry has changed and become more dynamic in nature. If you use the Internet to buy real estate leads then there are some interesting options available to you for this purpose. The aim of this article is to help you source new and authentic ways to buy real estate leads that work for you and are not a waste of effort and money.

Here are some of the sources available over the Internet that can be explored to buy real estate leads or just use some of these channels to find real estate leads on your own without spending much money:

Real Estate Networks: definitely a recommended option. Real estate networks deliver serious and authentic leads to your inbox. The potential homebuyers and real estate sellers visit many real estate websites in order to find reputable and qualified brokers in their neighborhoods. When you join a real estate network you receive email notifications when a potential lead is interested in buying or selling property in your area.

Real Estate Lead Generation Service: an advantageous service. Convenient and beneficial because when you buy real estate leads from them, you get pre-screened and authentic leads which are matched according to your specification. Say for example someone sources you out from Yellow Pages and leaves a message on your voicemail. Naturally, you will call back, but without having any idea about the requirements of that personal, or where they live or want to live, their budget etc. This can be a time consuming activity and can be a complete waste of time.

When you sign up for a membership with a real estate lead generation service you only get information that is relevant to you and you can choose to call whomever you would like to. So if you deal with only high-end clients, then you can avoid calling a potential lead that is just looking for a handy-man!

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