If you’re spending too much on marketing then you’re not going to make money as an agent. In my Coaching Tip today I’ll tell you how to reduce your lead acquisition costs and recognise your best lead generation source because generating leads is vital to your total profitability.
Are you paying for leads, or are you generating leads that pay? Across the industry, as markets are changing and tightening up, businesses are spending too much on marketing. But as we’re working with the best real estate agents around the world we’re finding that they all understand a very basic idea, that one customer served well will lead you to your next customer.
Lead generation really gets traction starting with the people you already know. It’s about relationships and what you do with them. Most people feel awkward about that dynamic, but it’s easy if you think about the ways you talk about other work-related things in normal conversations.
A business that does well has repeat and return customers. Right now you have underserved clients sitting inside of your database, and all you have to do is call them up and ask them simple questions about where they are with their property. Overlooking this existing lead source results in missed opportunities.
You have buyers that you’ve met at open for inspections, people that you’ve taken through private appointments, and all of your past clients. Find out where their dissatisfactions are in their current situation, and help them realize their vision around what they want to achieve.
If you want to generate a whole heap of leads whilst reducing your lead acquisition costs, all you need to do is get on the phone and build upon those valuable relationships you already have. Stop paying too much for leads when your best leads are sitting right in front of you.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.