Why Realtors Need to Market to Professional Referral Sources
Every month, there are thousands of new Realtors entering the profession. Statistically, most new real estate agents won’t make it a long career–many won’t make it past the first 18 months. Why? There are many reasons, but the main reason is new agents don’t know how to generate their own clients. This is information they don’t teach in real estate school. You pass a test and they say “good luck!” This is also why many new agents join teams so they can gain experience, work with active clients, and learn to generate their own business with guidance from a team leader. If you don’t want to join a team or work at a brokerage where teams don’t exist, then you better be a self-starter and eager to become a marketing king. I want to cover some of the basic ways new real estate agents can have a banner first couple years and get their business off the ground by generating their own clients at zero to little cost.
Use the Phone–For Calling
I know that seems basic, but many people think the phone is primarily for texting, using Instagram and email. Yes, it does those things and they play a part, but you need to make calls to your database and potential buyers/sellers. Make a list of everyone you know to form your database. Even if they are outside of your area, they could potentially refer you to a buyer/seller, so add them as well. Make a call and send a professional letter to each person letting them know your full time job is helping people buy and sell real estate. As these people have your best interest at heart, they want to see you succeed.
Open Houses
The real estate market is very hot in most areas of the country. Many busy agents in your office have too much going on to sit every open house. Approach those agents and ask to sit their active open houses. Have a strategy to promote, and collect as many names and emails of attendees. Add them into your real estate CRM and start following up. ALL the money in real estate is in the follow up. If you stay on top of these people you will get clients. Be consistent every weekend and your database of potential clients will grow.
Expired/Cancelled/FSBO’s
I know you don’t want to call these people–neither do other Realtors which is the exact reason why you should. There are services like Landvoice and Redx where you can pay for subscriptions to these homeowners in your area. You receive their full contact information, phone number, and sometimes email addresses. Call them on a regular basis and have a follow up strategy. There are great call scripts online to gain ideas of what to say and how to convert them to an appointment. Yes, you will receive many objections. Be prepared for this and have rebuttals ready!
Party Time!
Yes, your database needs to know you are a new real estate agent, but so does your neighborhood. I would set up a “Wade’s a Realtor Now” party and invite, friends, family, and neighbors (your potential farm) to come. It can be at your home or a local spot. Once the party is going, I would stop and thank everyone and have them take out their phones and add you on Facebook, Instagram, and LinkedIn. Get those people connected to you on social! That way you are always in their feeds and can generate leads down the road after establishing your credibility.
Facebook Ads
Lastly, I would look at mastering the Facebook ads game. It is a platform where many of us spend time and interact with people. If that is where your potential clients hangout, then run ads to gain leads. Set up landing pages, shoot video ads, and spend dollars. Run ads in your farm area, and other places where you are trying to attract buyers and sellers. Set up home buying and selling seminars. Tag team with a lender and Title Company to help you.
There is nothing wrong with spending money to market, even when you aren’t sitting on a ton of cash. Imagine the cost to your business to not market? Spend your money, then work like heck to convert the prospects to clients.
Stewart Title Helps our Clients!
At Stewart Title, we work directly with our clients to help them expand their businesses. Click on the “How I can Help You” tab to find out more! Also, fill out the form below or email me at wvander@stewart.com and tell me how we can best work together!
DCTitleGuy
Director of Sales/Marketing at Stewart Title
My name is Wade Vander Molen and I am the Director of Sales and Marketing for Stewart Title in Northern Virginia/Washington DC.I work with Real Estate agents and Mortgage Lenders helping them grow their business with Outbound and Inbound marketing strategies. If you wish to meet and set up an appointment call me at 480-203-6452 or email at wvander@stewart.com
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