In 2020, more than 6.5 million houses were sold, and this is expected to increase by 7.1 million in 2021. A lead generation system could be a great way for your real estate business to capitalize on these trends, but what does lead generation really mean? This article will discuss what lead generation is and how to develop a real estate lead generation strategy.
What Is Lead Generation?
Lead generation is the process of lead qualification and leads nurturing.
Lead qualification means that a lead is assessed to see if it has potential for value as a customer. Lead nurturing means that when leads have been qualified, efforts are made to keep them warm and interested until they convert to customers.
The lead management system should provide accurate data on what works best for lead generation, so you can create your own lead generation strategy by implementing the most effective techniques.
Offer Referral Programs
People love to want their friends what they have. That is why a lead generation strategy in real estate should always be accompanied by referral programs and rewards for lead referrals.
When lead refers to lead, it’s a win-win situation for everyone involved. The lead will get a token when the deal closes, and the lead generator gets extra money from the realtor commission.
Referral programs are more likely to work best if you offer a varied number of rewards as incentives. That can include cash, gift cards, or consumer goods such as appliances or electronics.
Cold Calling
Cold calling is the act of picking up the telephone and calling strangers to convince them that they need your product or service. It’s something many lead generators are doing, but you must develop a lead generation plan that works in your case.
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