Why Real Estate Buyer Leads are Crucial for Hitting your Goals

When it comes to real estate, any qualified lead is a good lead. But there are times when you will want to focus on buyer leads, and there are times you will want to focus on seller leads. Working with buyers is a good way to improve your real estate skills and they will help you build a client base.

The question is, how can you get buyer leads and how can you work buyers down the funnel? This article will tell you everything you need to know.

 

Why are Buyer Leads Important?

If most real estate agents had their choice, they would be working with sellers, not buyers. Why?

Sellers are not as high maintenance as buyers. Working with them doesn’t involve traveling from open house to open house and scouring the internet for available properties. You only have to work on bringing the right people in the door.

The fact that sellers won’t take up as much of your time means you can handle more clients at once. You can also devote more time to generating leads and building your business.

However, that doesn’t mean that you shouldn’t focus on buyer leads as well. They have their share of benefits.

For one, buyers tend to be easier to work with. Sellers know you are working for their commission, so they tend to be pickier and more demanding. Buyers are easier going as they tend not to pay their agents, and they may even be easier to find.

Buyers are also helpful if you are trying to grow your business. If you help a person find a home, you will be there at a pivotal time of their lives. This will help will build a deep relationship. They will be more likely to think of you when they decide to sell or when someone asks them for a referral.

Some agents work exclusively as buyer’s agents, while others work as listing (or seller’s) agents. Some do both.

 

How to Get Buyer Leads

If you are catering to buyers in any capacity, you want to keep those leads coming in. Here are some ways to attract interest.

Start Real Estate Farming with a Website on Parkbench

Real estate farming involves establishing yourself as THE real estate agent for a certain community. You can do this by starting a community website on Parkbench. This is a great way to nurture relationships rather than buy leads.

Once you get your website up and running, you need to show your community expertise. You can do this by interviewing local businesses, writing up community events and sharing local news.

This will set you up for being the agent people in the neighborhood turn to when they are looking to buy or sell.

Turn Leasers into Buyers

Agents may cringe when they get contacted by someone looking to lease. But they can turn this into an opportunity when they consider how this person may eventually become a buyer.

You can try to convert clients by recommending ‘for sale’ properties that fit their budget or you can just stay in touch until they are ready to buy. Remember, leasing is often a precursor to buying.

Engage on Social Media

Social media is a terrific tool for attracting all types of leads. But it’s not enough just to post and wait for the phone to ring. It requires interaction.

You can do this by monitoring your posts and responding to comments. You should also check in on your followers’ posts and like them or comment on them to show them you’re attentive.

Another effective strategy is to start or join a Facebook group. The group should not revolve around your company. Rather, it should be based on a real estate related topic such as the market in your community or interior design.

Use the group to disperse information and provide interesting facts. Ask and answer questions to remain visible. When someone in the group needs to buy, it’s likely they will be contacting you first.

Use a Paid Lead Generation Company

It’s best to use as many free resources as possible, but a paid lead generation service can save you time and bring in qualified leads. If it is producing a high ROI, it will be well worth it.

Bold Leads is a lead generation service that’s recommended. It works by placing ads on social media. Once users click the ad, they are taken to a landing page where they can enter their contact information in exchange for listings.

You can use that contact information to send them emails and newsletters that will, hopefully, lead to a conversion. Sure, you’ll have to do a bit of work guiding them through the funnel, but the service will have attracted the lead which is often the most challenging part of the process.

Check out our list of the best places to buy real estate leads if you’re unsure about which company to go with.

Socialize

According to the National Association of Realtors, more than 50% of people hire an agent they know or that was referred to them through friends and relatives. So, the more people you know, the more likely you will be to get hired.

There are many things you can do to increase your social sphere. Social media is one way, but a face-to-face connection is more effective. You can add that personal touch by hosting and attending community events and volunteering in your area.

Become a Zillow Premier Agent

If you want to attract buyers, you need to go to the places where you know they’ll be, like Zillow. Zillow boasts viewing rates of 186 homes per second making the platform the place agents need to be.

You can partner with Zillow to become a Premier Agent and get your name out to buyers that are searching the platform. Other perks include featured placement in the Zillow Agent Finder and access to Zillow’s new Live Connections Program.

You may also consider the Zillow Flex Program which involves you paying them a percentage of your commission after you get a sale instead of paying up front.

Contact the service to see how you can get involved.

Know Your Buyer’s Niche

Developing a niche can be useful as it sets you up as an expert in a specific field. If you are specializing in buyers, you may want to become your clients’ niche.

For example, today, millennials make up a big percentage of buyers. You can appeal to millennials by finding out what they are interested in, where they are hanging out and what social media channels they are on. Then create a brand image and marketing campaign based on their tastes.

Send Postcards

In today’s digital media climate, an old-fashioned touch can really stand out. Take, for instance snail mail. You can use snail mail to advertise listings in your community, to advertise how attractive the market is to sellers, or simply to get your name out there.

If you go this route, you may want to look into ProspectsPlus! They specialize in designing business postcards and offer over 250 real estate specific templates. Postcards are ideal as people can easily hang them on their fridge keeping you on the top of their minds.

Use Video

Video is known to be one of the most effective strategies in digital marketing. It provides both audio and video components and tells the whole story. It also puts a face to the name which is so valuable in the real estate business.

Agents can use video to attract buyers by creating media that shows them answering popular buyer questions. It’s best to keep videos brief to appeal to social media users with short attention spans.

Once videos are created, they can be shared on websites, social media platforms and even in emails which is great for ROI. You may even consider starting your own vlog.

Door Knocking

Door knocking is an old-fashioned strategy that is still effective in the real estate industry. The aim of many door knocking scripts is often to let sellers know how much their homes are worth. But you can turn things around to attract buyers as well.

For instance, if you knock on the door of someone who tells you they aren’t interested, you can ask them if they know of anyone who would be. This is a great way to attract buyers and sellers alike.

You can also personally invite people to open houses you are hosting. They may just be ready for an upgrade.

Cold Calling

Cold calling is not easy, but it can be effective. The success rate of cold calling is about 2% so you’ll need to be extremely motivated. But if your efforts convert into even one client, it will be worth thousands of dollars.

When you are targeting sellers, you can limit cold calls to people that are likely to be interested like those with expired listings and FSBO. Targeting buyers is a little more challenging, but you will have more luck if you contact people in your selling and buying community.

An effective script and accurate phone numbers are essential in the cold-calling process. You should also check with local laws to makes sure you aren’t violating any legal issues.

Host a Housewarming Party to Turn Your Client’s Friends into Buyers

Buying a new home is a landmark event for many people. You can become even more involved by hosting a housewarming for them after they move in. In addition to showing your gratitude and promoting loyalty, it’s a great way to introduce yourself to their friends.

During a party, you want to avoid a hard sell. But it’s a good idea to make your business cards available. That way, guests may contact you when they are looking to buy.

Create Landing Pages

Creating landing pages is an effective way to attract buyer leads. A landing page is set up as the destination an internet user goes to after clicking on an ad. It provides a concise view of what you have to offer.

As a real estate agent, you may consider setting up separate landing pages for different types of buyers. These can be based on the communities they are looking to buy in and/or the types of properties they are interested in buying. You can design them based on the ads you are running.

 

How To Work Leads Down the Funnel

We’ve just reviewed several ways to generate buyer leads. But most leads won’t convert instantly. You will need to work them down the funnel. So, what are the most effective strategies for this phase?

The best thing you can do is keep in touch. There are various ways to maintain contact including the following:

Emails and Newsletters: Once you have a contact’s email information, you can keep in touch via emails and newsletters. You can use these to share community news, updates on the market, helpful tips and more. You can segment your contacts to ensure they are getting information that will interest them. You can also automate your system, so you are working as efficiently as possible.

Direct Messages: Direct messages are most effective if you have a prior relationship with the person or some idea of what they are looking for. For example, if you have a lead that you know is interested in, say, ranch homes, you can DM them to tell them about ranch home related news or a ranch home that’s hitting the market.

Continue Building Your Online Presence: Many of your leads will be connected to you through social media. They may be in your groups, in your followers, or you may be connected as friends. Keep yourself in the public eye by continuing to post, engage, like and comment.

Buyer leads are valuable to the real estate industry and should be nurtured accordingly. This article provides tips on how to attract leads and transform them into converting clients. What tips do you have for building your buyer lead base?

Other resources: We have guides on the ins and outs of the topics you need to know to be a successful estate agent (like real estate leads, real estate website builders, the best real estate lead generation companies, or the best real estate CRMs). If you’re looking for more advanced topics like real estate ads, building your own real estate lead generation website, which real estate marketing tools you’ll need,  how to build a successful social media strategy, or even just real estate marketing ideas in general, you can try looking for a real estate mentor that can help show you the way.