ARE EXCLUSIVE REAL ESTATE LEADS WORTH THE MONEY?
As a realtor, you probably have a lead generation method that you trust and which works well for you. But, have you ever considered buying exclusive real estate leads? For many in the real estate industry, this is a million dollar question. Some realtors believe buying exclusive real estate leads are too expensive and a waste of time, while others agree that such programs are great tools for generating qualified leads. So, it begs the question: are exclusive real estate leads worth the money? Or are they really a waste of time and resources? In this post, we discuss the benefits of exclusive lead generation strategy and what to keep in mind before buying exclusive real estate leads.
WHAT IS SPECIAL ABOUT BUYING EXCLUSIVE REAL ESTATE LEADS?
According to a report released by the National Association of Realtors, 23% of sellers in the industry have worked with the same agent they had previously worked with in selling or buying a property, while 41% of sellers connected with their agent through referrals. That shows that 64% of deals were repeat and referrals deals, while the remaining 36% came from external sources like door knocking, online leads, cold calling, and direct mail. With that being said, some of the top realtors are still in the business of buying exclusive real estate leads as a way to score prospects. Here are some reasons why:
Gain further exposure
It is true that repeat clients and referrals will reach out to you when they’re ready to buy a property right away or go on a listing. However, things are quite different these days with the digitalization of every aspect of life. Home buyers and sellers can now go online to start their home buying or selling process. The implication on a realtor who hasn’t bought exclusive real estate leads is that he/she risks being invisible to this huge pool of potential clients. But, with paid lead generation programs, you can be connected with some clients in such a way that they become exclusive to you i.e., potential buyers and sellers within a certain territory will be directed to your mail only. Consequently, many realtors spend money on exclusive paid lead generation programs as a way to digital-marketize their brands and get more exposure. Additionally, buying exclusive real estate leads also gives you the opportunity to contact your leads before they speak with other agents or brokers. When you make the first contact, clients are more likely to transact and stick with you for all of their real estate needs. Regardless of whether you are an aspiring or existing realtor, you can acquire exclusive real estate leads today, and trust me; it will definitely help you gain more exposure.
A STEADY STREAM OF CLIENTS
The biggest advantage of buying exclusive real estate leads is that it’s the best way to beat your competition, as you will be the only one who gets to deal with certain clients. When you combine the number of clients you can get via exclusive leads and other methods of finding leads in real estate, you will surely realize that you will have an abundance of leads to convert into clients. However, whether these exclusive leads get converted into clients and how quickly that happens depends on you. But, one thing is certain; exclusive leads will reduce the number of competitions you have to fight off and if your services are top-notch you will experience a good conversion of these leads. The best practise in this regard is to give these leads you’ve generated what they want – be it listing, general market information, tips, and other other relevant materials.
Immediate revenue generation potential
Another vital reason why many realtors buy exclusive real estate leads is that it creates immediate action in their sales funnel. This is a big advantage for a new broker or a returning realtor who’s been out of the game. When you haven’t established a local sphere of influence (because you are new), an established marketing strategy (because you’ve been forgotten), or a steady database of clients, paid exclusive leads will definitely get you back on your feet.
Another marketing strategy
Buying an exclusive real estate lead is a marketing strategy in itself. And while it may not entail putting up your brand logo in an advert banner, it can fetch you a real client in less time, and sometimes it might even cost you less than a conventional marketing strategy. So, instead of putting your image on a billboard, why not buy an exclusive real estate lead? At least that way you can be sure of getting a result.
By and large, even though an exclusive real estate lead program will cost you, you need to see it as nothing short of an investment and a necessary business cost you have to incur. It has the potential to generate enough revenue for your real estate business, while also building your exclusive sphere of clients.