Do you want to build a business where you pay for leads, or do you want to have leads that pay? In this Coaching Tip I’ll show you why this is a decision you have to make, and help you sort it out for yourself.
These days a lot of agents are taking their leads from lead-generation websites. The reality, though, is that a lot of those leads are already sitting inside of your database. So where do those customers hang out before they need you?
The best estate agents are focused on putting themselves wherever their potential sellers are. These are places like open for inspections, email inquiries, and people already in your database. So there are hundreds – even thousands of leads actually leaking on the inside of your business every year. You need to find where the leakage is and fix it.
I advise working from a four to seven year timeframe based on the perspective that when you enter someone into your database that person will become a seller in four to seven years. Your job, then, is to identify what their reason for moving will be, what they don’t like about their existing home, what problem a new home would solve for them, and when that move might happen.
There are a lot of things you can do to generate leads, but paying for leads is just not necessary if you do two basic things: Focus on the one or two lead sources that will make you incredibly powerful, and retain the customers you already have.
For me that’s about open for inspections, working my personal network, and working past clients. People who do really well in business have repeat and return customers, so make sure you build those relationships to ensure customer retention.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.