Real Estate Lead Generation: 1 Strategy, 5 Tips

For those of you who have been in the real estate business for some time, you are probably now sure that being in this industry requires a huge amount of self motivation. The competition is very stressful and we deal with rejection all the time.

The question is how to stay motivated under any circumstances. The answer is pretty simple; interrogative self-talk. And it all revolves around one strategy: staying buoyant.

In our business we often see clients who are saying they don't like this house and they don't like that kitchen, etc. Other times, they refuse to sell their house at certain prices. In lead generation, things are no different. People are saying no to hire you as their agent, and they're turning to someone else. This creates a scene where you are constantly trying to stay afloat (with business/leads). In other terms, you are trying to stay buoyant.

If you want to stay on top in real estate, you need to think about how to stay afloat. Here are five tips to get you started:

1) Interrogate yourself.

As mentioned before, this is the first step in staying buoyant. Ask yourself: Can I close more deals? Now, don't leave this question hanging. Answer it with a detailed response. You can do this verbally but I encourage you to write it down. If your answer was something like this: "Yes, I can close more deals. I have a new software system to help me manage my leads. I can do reverse prospecting from the hot sheet. And I can spend less time qualifying people once the new ISA starts working".

How you answer the question will remind you of the strategies you need to be effective in reaching your goal. It provides a stronger, more substantive grounding than mere affirmation.

2) Use the contrast principle.

People want context. They ask questions like: "How does your service compare to the other realtor?" and "If I wait to buy a house, will it be cheaper next year?" When your advertising and content seeks to answer these common questions, you need to provide context (for proof). It converts better, if you do.

Example: During spring time, the average price point for Charleston real estate is $500k. Next year, it's predicted to rise to $575k. You would be better off buying now, if you want to save money.

Consumers want to know the answer to this: Compared to what? Answer this and you have a decided client. It provides clear information and it compares two actions, so the client can see which one is better. The more clarity you provide, the more likely the person is to act on it and hence boost your lead generation.

3) Less is more, more is less.

We all love choices. Grocery stores are filled with them. Cinemas release new ones every Friday. But a recent study from Columbia University and Stanford showed that having more choices didn't increase sales (or in our case, lead generation). The businesses that offered fewer choices didn't get as many shoppers as the places with tons of options, but they did do 27% better in sales.

The next time you send a bulk email to your leads, only showcase a few properties. Don't list out the hundreds in the city. Narrow the choices and you'll see better conversion.

4) Show the potential.

It's easy to think in absolutes. Example: "This is the best home in Charleston" naturally, we think this will sell better (when using similar advertising/content language). In the end who doesn't love the best of the best, right?

However, a paper published by Stanford and the Harvard Business School suggest a different method. What you should do is highlight the potential. In their study they compared the effectiveness of two ads: "This comedian could be the next big thing" and "He is the next big thing."

The first ad generated far more click-throughs and likes than the second. What researchers clearly found was that the potential to be good at something can be preferred over actually being good at that very same thing. People find potential more interesting than accomplishment because it's more uncertain.

You can use this in your advertising headers, blog post titles, email subject lines, etc. Let me give an example: "These homes might be sold tomorrow. Check out why."

5) Diversify.

Take advice from Wall Street. Diversify your lead generation channels. This insulates you from dramatic changes in certain sectors. For example, if Google AdWords suddenly plummets, you won't be very affected, since you still have leads coming from your organic search (SEO) and from social media advertising.

By implementing the five tips above, you can ensure your business stays buoyant. The market is always shifting. Competitors are always growing. So, make sure you're ahead of the game.