Types of Real Estate Leads

There are two types of leads you can incorporate in your real estate lead generation strategy: free and paid. You’ll have the most success when your lead generation strategy includes a balance of both types. While free leads may not cost you a dime, you’ll invest a lot of time and effort trying to capture them. Paid leads offer an instant boost to your pipeline, but they can be prohibitively expensive for agents on a tight budget.

Free leads can come from anywhere. You’ll be able to generate real estate leads doing most of the things you already do to build your business and make connections. Unlike a paid lead, free leads may not be ready to buy or sell a house. You’ll need to make a connection and nurture those relationships so that you’re top of mind when someone needs an agent

Paid leads from companies like Zillow  (and OnePropertee.com ) who capture and collect contact information which is then sent directly to you. There is a wide range of paid options, including buying leads from real estate lead generation companies, paying for placement in search results and running ads on social media. Paid lead generation requires investing money upfront, and it may take months to close deals before you see a return.

When you’re just starting out and looking for business, paying for leads can seem daunting. Research carefully before you decide how much capital you put in, or you may wind up spending much money without ever seeing results. You can also check out our top picks for where to buy real estate leads.

Pro tip: Whether your leads are paid or free, make sure you respond to every lead immediately. It seems obvious, but you need a backup plan since you won’t be able to respond to a new lead when you’re showing a house. Create an auto-response message for text and email, so you’ll be ready to acknowledge the lead even if you’re not able to engage with them right away.

Bottom Line

Real estate lead generation may not always be linear, but you should feel good that any effort you make builds the potential for new business. There are countless ways to get leads. Whether you buy them or work hard to get them for free, generating real estate leads is a crucial piece of building a successful business.

https://fitsmallbusiness.com/real-estate-lead-generation/