by There are a number of great real estate lead generation programs out there. Programs can be designed where you pay a referral fee, monthly fee, or even a fee per every lead received. The systems and programs vary wildly and your results will certainly be mixed depending on your personality and how it can fit in within the lead source. With so many different lead generation companies out there charging money, it certainly makes one aware that you could create your own system and save money each and every month.
The benefit of creating your own real estate lead generation system is you can make it as specific as you want, meaning you can target potential sellers and buyers in your specific areas of expertise where you wan to work. A real estate lead generation system that gives you prospects who range in time from “I’m ready right now” to “Probably sell in a year” takes time, but it is one that can pay dividends (i.e. clients that turn into commissions) for years to come.
Here are some items to focus on so you can create your own lead system so you can start saving money each and every month.
- Budget – Whether you are using a real estate lead generation system that you pay monthly, referral, or some other method it is certainly costing you some money. Determine what you have spent on your current systems and think about how you could use that money on your own. After all, a typical referral fee is often 25% and when you consider an average commission across the United States is about $5,000 that means you could invest up to $1,000 in marketing to generate a transaction. Optimally you will spend much less (think 7% of your average commission) and the savings will go right into your pocket!
- How do you want to generate leads? – There are many different ways to generate leads online so think about the direction you would like to go before you spend any money. Whether you want to focus on leads from your website, blog, articles, social media, videos, etc. there are different methods to implement for each whole. Pick your favorite and develop a plan that includes everything from the media expense, types of ads, how you will be tracking and more.
- Develop actions for a consistent flow of leads – In order for you to get leads daily it requires that you put into place actions that are easily repeatable. This can range from running new pay per click ads, writing new web pages, or even sending out blast emails. When you decide on how you will generate leads make sure you have an action that you can take daily to ensure that new leads keep pouring. The big real estate lead generation companies have a variety of action items they do constantly but your plan can be much smaller and get the results you need to generate new business each and every month.
It may sound like quite a bit of work to develop your own real estate lead system and it will require some work, but it will save you money in the long run. One of the best aspects about creating your own system is you can tweak it to hit your goals and save money.
If the task of creating your own systems sounds like too much work, consider hiring a real estate coach or purchasing a system that will help you discover the proper methods to creating your own real estate lead system. Investing in a coach or a “do it yourself” system will save you hours of frustration and thousands of dollars of trial and error.
