Blog Real Estate Leads for Cheap (Without Sacrificing Quality)

Real Estate Leads for Cheap (Without Sacrificing Quality)

If you’re new to real estate, building a client list can feel overwhelming. Similarly, if you’re an experienced agent but your business growth has hit a plateau, stepping outside the box can feel daunting. 

But here’s the good news: you can generate quality leads without blowing your budget. 

Big, established agencies may have thousands of dollars to throw at ads, billboards, commercials, etc. But don’t be intimidated by that. By focusing on free or affordable strategies, you can quickly grow your client list without draining your resources. Plus, as a new agent or one looking to revamp your strategies, you have the advantage of flexibility and creativity.

The old adage, “Work smarter, not harder,” applies here. We’ll show you how to combine free marketing methods with affordable platforms (5 companies suggested below)  so you can start seeing results faster than you think.

Key Takeaways

• Lead generation is possible on a budget. This is your chance to let your creativity shine and showcase who you are as an agent, which will distinguish you from other real estate agents working in large agencies. 
• Implementing diversified marketing strategies with tools like social media, email marketing, community networking, and more will help you reach and retain more potential clients.
• Time costs money, too. Knowing when to spend money is also an effective strategy if it saves you time to focus on converting leads to clients, which can be more lucrative for your business overall. 

Free Marketing Ideas to Help Generate Leads

When you’re starting out, taking the time to develop free marketing strategies will help lay the roadmap for long-term success, which you can always rely on to grow your business if you ever hit a roadblock. 

Our main goal here is to position yourself as a trustworthy expert while building relationships that eventually convert into clients and eventually, build a strong referral base. Here’s how:

• Networking at community events makes more of a difference than you might think. If you show up where your potential clients are, you establish yourself as someone who cares about the community, not just the dollar, which builds trust and familiarity. 
  • Whether it’s a charity run, block party, or local fair, these events are prime opportunities to meet new people, discuss real estate needs in the neighborhood, and become a friendly, reliable presence.
• Social media posts and reels are powerful. Use Instagram, Facebook, and even TikTok to host open houses, build excitement with sneak peeks, answer common real estate questions, and share insider real estate trends. 
  • Short, engaging videos are incredibly effective in driving organic leads straight to your door. They allow you to show your personality and what services you offer in one fell swoop!
  • I suggest making a calendar of at least three weekly posts that either educate, showcase a property, or celebrate a recent win. Let your creativity go wild! Canva is an excellent tool for creating posts that stay within your brand.   
• Join local Facebook groups that offer referrals. Hundreds of local Facebook groups are dedicated to home buying, selling, and investing. Finding a couple of groups in your target market to actively participate in can lead to valuable referrals and help you build relationships with other agents in your network. 
  • There are some tried and true ways to network on Facebook and grow your online presence. While groups are free, you can also dabble in PPC marketing (paid ads) to generate more quality leads through Facebook.
• Create webinars and educational videos. Buying and selling your home can be an intimidating process for anyone at any stage in life, because the market is always changing. People want to know if they are making good decisions and feel confident when they do. 
  • Hosting a webinar or creating an educational video series can help establish you as a go-to resource in your area. Ideally, your videos will be shared and shared again, which is a great, free way to promote yourself.

When done consistently, these simple strategies are incredibly effective at generating high-quality leads for free. In the long run, once you establish your marketing cadence, you will save time and have leads search for you instead of the other way around. 

In all of these efforts, you must stay true to your brand as an agent to make a significant impact in your market. If you have the budget to hire a company to help you establish that right out of the gate, I suggest taking a look at Luxury Presence for a branded website and social media presence. 

5 Affordable Lead Generation Companies 

While free methods are great, buying leads is a quick fix that can also speed up your client-building process. Organic growth strategies paired with bought leads are the sweet spot for a foolproof way to ensure your client pipeline will always flow.   

There are a lot of companies out there that  lead generation companies where you can get affordable leads:

• KeyLeads: This platform is unique in that it focuses on providing you with motivated seller leads in the zip codes you specialize in. Its fixed rate of $199 per month guarantees you 20 quality leads per month. 
  • Their customer service is top-notch, and they have a dedicated research team that locates potential sellers well in advance, giving you a competitive edge.
• HomeLight:  Believe it or not, this platform promises no upfront costs for agents. Essentially, they connect agents with homeowners and buyers who are ready to take action and charge a referral fee only when you close the deal.
  • Their main benefit is that they do all of the advertising for you and then pair you up with a potential client you can help. It’s a no-brainer. 
• ZBuyer: They offer various pricing tiers based on your budget with no contract, so you can scale as your budget grows. The main drawback I have about using them is that their leads aren’t exclusive, so if you decide to use them, the best practice is to stay up to date with your lead nurturing as leads come in. 
  • Their pricing is pretty straightforward: “For example, in Dade County, FL, 187 seller leads and 65 buyer leads are available. If you decide to purchase 40 seller leads at $15 each and 20 buyer leads at $12 each, your total monthly billing would be $840.” (source)
• Real Geeks: If you are looking to implement a new CRM system in addition to building your client roster, Reel Geeks is one of the more affordable options I’ve come across. 
  • “For around $50/month per tool, you can also add their Real Leads and Facebook ad marketing tools. The property valuation lead generation tool is $50 per month.” (source)
• Grizzly Leads promises to run highly targeted ads for you on a platform that integrates with over 100 platforms, helping you stay organized when leads come in. 
  • “Zip code ad spend starts at $200 a month, and we have a $25/month ad management fee. Agents have the option to scale up their budget from there to increase average expected lead ranges.” (source)

These are great platforms to boost your incoming leads but remember that the deal usually gets closed in the follow-up. Don’t take any lead for granted. Learn to prioritize your leads and set up an automated system of communication to stay top of mind when leads are ready to commit to working with you as their agent. 

Pros & Cons of Buying Leads

Of course, buying leads comes with its fair share of risks that you should consider before deciding which platform to use. We listed a few below to help you approach your decision-making with confidence.

Pros:

• Immediate access to potential clients. Time is money, and with immediate access to leads you can take a sigh of relief knowing that you have more time to devote to leads closer to becoming clients.
• Scalability. Depending on which platform you choose, you can increase your lead budget as your business grows, so you’re more likely to stay in profit. 
• Affordable entry point. You can start small, test the waters, learn as you go stress-free, and ramp up when you see the benefits rolling in.

Cons:

• Potentially lower quality leads. Cheaper leads may be less likely to convert because they might not be as targeted, but I think you’re shielded from that, for the most part, with the companies provided above. Always keep a log so you can track the effectiveness of your lead gen spend. 
• Competition. If you can find companies that provide exclusive leads, I suggest leaning in their favor. Non-exclusive leads are also okay, but this means you’ll have to act fast to secure them.
• Time investment. Even though you’re saving money, working through lower-quality leads can be time-consuming. If you’re consistently spinning your wheels chasing leads with little to no results, it may be time to consider upping your budget for more quality leads. 

Summary

Building your real estate client list doesn’t have to break the bank. You can build your client list quickly without a huge upfront investment by leveraging free methods like networking and social media, combined with affordable lead generation services.

The trick is to diversify your strategies! Free methods take time but build trust, while paid leads can give you a faster influx of potential clients. Keep refining your process, and you’ll see your efforts pay off in no time!