29 Dec How to Generate Real Estate Leads
If you’re working on getting into real estate, chances are understanding how to generate real estate leads consumes much of your time and energy. It’s what we are always talking about with our associates. Consistent leads are essential to ensuring your next deal is always in the pipeline. The more efficiently you generate leads, the more time you can spend putting together deals making money.
When market conditions are soft, a shotgun approach to finding and converting leads can work just fine. But the reality is that when you’re in a hot market, those opportunities aren’t going to be as easy to come across.
When it’s a hot market, properties are going to be tightly held whilst buyers are on the hunt for homes and investments. Knowing exactly how to generate real estate leads in these conditions will ultimately save you time, money, and frustration. These are the markets that really set apart the motivated, smart investors from the passive buyers.
It doesn’t matter what the market conditions are, leads are everywhere, you just need to know where to look for them and how to approach them.
It’s time to get creative. You need a lead generation strategy that is targeted and focused on market segments everyone else is overlooking.
Change Your Mentality
Instead of approaching lead generation from the mindset of a salesman, you need to approach it from the mindset of a problem solver. You’re offering solutions to other people’s problems that no one else is.
When you switch your mindset to that of a problem solver, it means you know what kind of property you’re looking to buy, exactly the kind of person you want to talk to, the challenge they are facing, and how you can help them. When you talk to this prospect and already have a formulated solution to their problem, it makes converting them easier. You are selling them a solution.
Don’t forget, your network is one of if not your biggest asset.
When you’re working within your network, you want to position yourself as a person of authority. You’re someone who is looking to help others who are in challenging positions with their properties. Talk about your solutions to encourage word of mouth amongst your community. Your passive marketing can result in leads starting to come to you without being hunted down.
For more information on real estate lead generation consider checking out our amazing content similar to below on our Youtube Channel.
Sources to Generate Real Estate Leads You Haven’t Thought Of
Tired Landlords
The pandemic hasn’t been easy for landlords across the country, which has taken its mental toll. Many have lost income due to eviction moratoriums and have had to deal with challenging tenants. They are tired, frustrated, and disenchanted with their rental properties. You’ll find many landlords passively looking for an opportunity to cash out.
Phrase your proposal to them as a solution where you help them achieve their investment goals without the work. You’re going to handle all of the rental requirements, make the monthly payments, and make their investment easy.
Forbearance
There are a lot of property owners who have had their mortgage payments either reduced or on pause throughout the pandemic with forbearance, but now they have to start paying again. These are sellers who have a lot of equity in their homes but are about to lose it because they just can’t make the payments anymore. Unfortunately, not all of the balance of the forbearance is going to be moved to the back of someone’s mortgage and banks are going to start asking for their money. These are prospects that need a fast and easy exit solution.
Expired Listings
There are always expired listings – no matter what the market conditions are. There are always going to be sellers who have unrealistic price expectations who engage inexperienced agents that are happy to get the listing at any price. Their property will have been sitting on the market and now the listing has gone stale and the listing agreement has expired. The sellers just haven’t made the move to find a new agent.
When listing agreements are expired, you have the opportunity to approach the seller with a solution – allowing you to purchase their property and save the seller the hassle of yet another failed attempt to sell their property.
If you’re stuck and wondering how to generate real estate leads, it’s time to get creative. Thinking outside the box is what proves to be the difference between a passive investor and a truly successful investor. Our Seller Specialist Program provides you with lead generation materials, scripts, and strategies for pre-qualifying sellers.
We are in the business of finding and doing deals, so we are always coming up with fresh ideas on how you can find real estate leads and make money. We demystify lead generation, help you change your mindset, and make it easy for you to structure deals in a hot market.