It is no secret that Australian real estate market isn’t great right now. But regardless of how good the economy is, real estate agents have always faced the same challenge – generating that solid steady monthly income.
Yes, if I asked agents, some will mention:
- competition from other established agents
- learning the technical details of processing transaction to a successful conclusion.
- understanding how technology affects real estate
- time management
- or something else…
However, it is no doubt that if you were able to generate a steady pipeline of leads, everything else would become easy:
- Leads lead to appointments that later result in a “steady pipeline” of clients
- Clients will allow you to learn your craft, and when you do well, will reward you with repeat business and “word-of-mouth”
- And with a flow of new and repeat clients, the agent finally develops that steady income
This is why I want to focus on the most important aspect real estate agents should be focusing on – generating that flow of leads to your listings. And we want those leads to be:
- Affordable so we don’t break our advertising budget
- As automated and easy to
This almost completely rules out strategies such as putting your listing on RealEstate or Domain, because that costs a small fortune.
It also rules out door knocking and cold-calling because these strategies don’t work well for everybody.
(I’m not completely discarding these approaches, but they won’t be the focus of this article.)
The easiest and most affordable way we found to attract new buyers or sellers is to directly advertise online.
Here’s how it is done:
Step1: Make sure you have a killer website.
It doesn’t matter if you are trying to get people’s contact information or money, there should be some level of trust before anybody will give you anything.
If you can’t show yourself as a trustworthy real estate professional, then you will have a very hard time succeeding in this industry.
You’ve probably done it yourself. Before engaging with a business, you’d look up its website online to find out more about it.
If one business had a good website, and another one had a very shabby one, the first impression would be, “that first business probably has more money to spend on a good website, so they are probably preferred by more customers!”.
So the website is absolutely necessary if you don’t want to lose these leads. It builds awareness of your “brand”, generates your quality leads, and helps buyers sellers to establish you as an authority in the industry.
Step2: Pick an offer you are willing to give in exchange for contact information
If you’re trying to attract a “lead”, you should offer something that the person might be interested in.
It is all about addressing the “what’s in it for me?” question everybody has.
Here are a few ideas you can use for your offer depending on if you want to attract a buyer or a seller:
- Offer home valuations to attract sellers
- Show real estate listings that can’t be found online
- Show real estate listings even if they can be found online
- Show a “carousel” of listings to create a “supermarket” effect
- Create a valuable report that will get prospects curious
Let’s cover these offers in more detail.
Offer home valuations to attract sellers
This is the old-school and very effective way to attract and qualify seller leads.
Even though real estate websites provide median prices, people want real estate agents to conduct their professional evaluation to get more accurate estimations.
If you really want to help out your prospects, you can provide median prices for sellers, as well.
We’re working on a technology that will provide median price estimates based on entered address, and it will be available for any real estate agent soon.
If you want to be notified go to this Facebook messenger link, click “Get Started” and you’ll know when it is ready.
Show real estate listings that can’t be found online
You’ll easily be able to attract leads that way because the information is more valuable when it isn’t readily available somewhere else.
This is something known as “off the market” listings whereby sellers want to sell their properties without “officially” listing them on popular websites like realestate.com.au.
There are many reasons why a seller would want that, but the thing is, buyers are more likely to be interested in this because of two reasons:
- The information is not readily available online, so it makes it more valuable
- The prospect might get a better deal when dealing with these types of properties.
It is a very good tried & tested strategy.
Show real estate listings even if they can be found online
It is still worth doing this. You never know. Sometimes it is just about putting yourself in front of the prospect.
Again, it goes back to the current state of the market. It is much easier for prospects to find real estate information online.
Make it easier for them by showing listings on their favourite websites (Facebook, Instagram). This cements you in their heads as the “go-to person for real estate” and helps you capture leads.
When a prospects remembers you, he is more likely to contact you when he is ready to get professional help.
Show a “carousel” of listings to create a “supermarket” effect
Here is an example of how it looks:
The best part of this type of ad is even if someone is not interested in the first property, you have a “second”, “third” and “fourth” shot of capturing his interest with your other listings.
It is similar to the “supermarket” effect where the person might not find what he needs, but just because you show him other products, he might add some of them to his basket.
It is a simple and effective strategy.
Create a valuable report that will get prospects curious
The secret to a successful report is the promise in the headline.
The report must show something that saves prospects time and/or gets them so curious they can’t help but want to find more.
Think of what prospects would naturally search for online, and condense their search by offering them a report of the listings they are looking for.
Here are a few interesting examples of reports:
- “Discover 10 cashflow positive properties in the Western part of Melbourne”
- “First Home Buyers! Discover all houses under $300k in the Eastern suburbs of Melbourne”
Step 3: Setup a Facebook ad
Why Facebook and not SEO or Google Adwords?
Very simple. Facebook has been, in our experience, the quickest way to get affordable leads online:
- You can launch an ad and see people engaging with it within a few minutes. In contrast, SEO takes months to take effect.
- The cost of ads is easily 5 times lower than
costof Google ads. A Facebook click costs $2 or cheaper. In some areas, a click on Google can easily cost $10 – $40.
- You only need a picture to make an ad.
- You can start with as little as $5 a day advertising budget. This reduces your risk and increases chances to attract leads.
- Half of Australians are using Facebook and Instagram. So if your prospects are on it, shouldn’t you be there, as well?
Facebook advertising can be a course on its own. Click here to subscribe to our messenger notifications when the free Facebook ad training for real estate will be available.
Step 4: Send traffic to a page or a form that captures the “lead”
To actually capture the lead, you need to send Facebook traffic to a “lead capture” page or a form.
The formula for a good “lead form” page consists of:
- A clearly articulated headline that shows exactly why someone should leave their contact information
- Text or bullet points going in more in detail about the attractiveness of the offer
- Clearly shown what kind of information you are collecting and why
- A clear call to action
Here’s an example of a landing page.
Here’s an example of a lead capture form (easier to
Step 5: Follow-up
The key to converting a lead to a client is to follow-up. If the lead is hot and is ready to talk to you, you must call the lead as soon as you can.
There are a few software solutions out there that can send you reminders when a lead comes in. This is especially useful when you are not in front of your laptop.
The more time passes, the less hot the lead becomes.
We’ve tried LeadOwl, but there are some others we are trying out at the moment.
What’s really interesting and performs way better than e-mail is capturing their Facebook messenger information.
It will automatically follow-up with your lead and schedule a call on your behalf, and it happens on everyone’s favorite app – Facebook messenger.