Real Estate Lead Generation: Quality Over Quantity
Implementing a real estate lead generation strategy can quite literally feel like you’re starting from the bottom. It’s a tall order to create a thriving database and secure your first official clients. In that situation, any lead is a good lead, right?
The most long-lasting and successful agents go through countless hours of real estate training to learn this open secret about lead generation: quality over quantity.
They work smarter, not harder, to cultivate high-quality leads that become lifelong clients. How is that possible?
The 80/20 Rule
Allow us to introduce you to the “Pareto Principle.” According to this rule, 80% of your results will come from 20% of your efforts.
When translated for real estate, this “80/20 rule” means that 80% of your business will come from only 20% of your people.
The idea here is that you really need to channel your focus toward the 20% of clients who you know will bring you major business.
Narrow Your Focus
Instead of casting a wide net to generate hundreds of leads via online ads or paid services, new agents should narrow their focus and serve people they already know.
Your sphere of influence is who you associate with daily in business and life. Determine which of those folks will work with you as their go-to agent and send you future referrals — then you’ll know to focus your marketing efforts on that group.
Your long-term goal is to eventually grow a database of 100 rockstar clients who refer you frequently.
Go Above and Beyond
If only 20% of your clients are bringing in most of your business, you’ll want to serve them at the highest possible level so they remain your most loyal customers!
Go above and beyond to provide these individuals with valuable market information, while also sharing tips for general life stuff as well — think finances, time management, goal-setting, etc. Write these folks handwritten notes and deliver small but useful appreciation gifts.
These high-quality leads should be so impressed by your stand-out service that they will want to actively come to you for all their real estate needs and refer you to all their friends and family.
Here’s the best part — if you love working with these clients, chances are you’ll also enjoy working with the relationships they send your way!
Build Your Skills
Once you understand the 80/20 rule and how it pertains to lead generation, it’s time to go to work! Rome wasn’t built in a day, after all. Invest in a real estate training program to help you build the skills to create your database and pursue quality leads.
For new licensees, 100 Days to Greatness® from Buffini & Company has just what you need. This comprehensive real estate training program for new agents dives deep into how to generate quality leads, while also sharing unique dialogues to use with your clients.