How to Buy Prospective Leads for Real Estate
One challenge of being in real estate is obtaining a constant flow of prospective leads. Making time to prospect for new leads is not always possible. Having lead-generation tools and systems in place is crucial to success in this industry.
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Instructions
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Online Leads
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Using a search engine such as Google, type in "real estate leads + your city and state." You will see a list of lead resources specific to your market area. Review websites for an overview of the services they offer and what is most pertinent to your business and area of expertise. Successful real estate professionals use multiple websites to produce a constant flow of leads.
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Select commonly accessed real estate websites such as Trulia, Zillow or City Data. These resources allow real estate professionals to select paid advertising or lead farming systems to generate a steady stream of leads for their area. Other pay-per-month or pay-per-lead systems are available. Once you have selected several websites, research the fees associated with each.
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Research fees for lead-generation websites like Homegain or Reply Real Estate. Some resources charge real estate professionals a monthly fee plus a referral fee for using their services; others charge on a per-lead basis.
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Create a marketing and advertising budget based on the lead-generation system that works best with your personal business plan.
Other Real Estate Leads
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Request a marketing list from local title companies. They can provide several resources to find the types of buyers and sellers you prefer to work with based on title data.
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Contact local lenders, mortgage bankers and brokers in your area. Request lists of buyers who have contacted them about home purchases who are not associated with a real estate professional. This can be a lucrative source for real estate leads.
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Contact local home builder sales representatives. Ask to purchase leads of customers who have a home to sell, or who do not have a Realtor. This type of lead purchasing produces home buyers and sellers who are ready to make decisions quickly.
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Ask real estate professionals in other areas if they have clients relocating to your market area. If they do, ask to purchase those leads, or offer to pay a referral fee for the leads provided.
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Keep complete, accurate records of referred clients and contacts to see your best sources of qualified leads. Focus on your strongest sources of business and reward them with payments or referral fees for qualified leads. Follow the referral fee laws for your state and national associations.
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Tips & Warnings
Draft an expense sheet to track all monthly lead-generation expenses so you can deduct them when filing your tax return. Make sure your expenses don't exceed your investment when purchasing leads.
Some companies have policies that prevent them from providing prospective lead information.
