A Better Way of
Finding Hot Real Estate Leads

Part of the Professional Real Estate Agent Handbook Series

If you’re a real estate agent, you must have said this more than once: “There has got to be a better way for finding leads.”

And you are not alone. Every single agent’s mind has crossed this idea for the simple reason that looking for leads is about the most tedious task there is in the real estate business. Unfortunately, it is also the first step in getting any business. Without leads, you would have no business at all.

You probably have had more than your fair share of frustration in building your network and exhaustion in creating as much connections to as many people as you can. You also probably worry over avoiding the $11,000 penalty that comes with the “Do-Not-Call” Rule. With this new rule alone, you’re probably asking yourself, how can you possibly find leads then, let alone viable ones?

Fortunately, there are solutions that address these concerns. They help you build an extensive network, maintain your contacts and save you from the DNC rule while getting you reliable leads that are a stone’s throw away from a closed deal.

This is called response marketing, which is getting buyers/sellers to respond to an ad you placed and having them initiate contact with you.

The fact that these buyers/sellers are responding to your ad puts them in a mindset ready to do business. This is a huge difference from cold calls where it’s usually a hit-or-miss when it comes to whether they want to do any business at all.

Another plus is that since these leads made the first contact, you are free to call them without having to worry about the DNC rule.

How does it work?
You start off by placing an ad that’s designed to make prospects want to respond to it. (More on this later.) You then provide a means for these prospects to contact you, usually in the form of toll-free numbers.

“Wait a minute,” you may ask. Will I be the one to answer each and every call that’s made? Wouldn’t I have to hire a whole lot of representatives to answer these calls for me?

The answer: Yes and No. The person who will answer the phone every time an ad respondent calls will be you – in the form of a recorded message. It is personal in that it is your voice the respondent hears. But it is detached enough to make it comfortable for the prospect since he/she does not have to worry answering probing questions during the first contact.

The respondent has the general options to leave you a voice message or even calling you directly through a call transfer feature. Should they want more to know more before they call you, they have immediate access to information you want to share through a fax-back option. This feature is particularly useful in sharing documents like company/personal profiles, floor plans, brochures, maps and even helpful tips in doing business in real estate.

By allowing your prospects access to such information at this level of ease makes them more inclined to do business with you. Experts and consultants in the industry have noted that nearly 75% of prospects end up transacting business with the agent they made first contact with. For an agent, that means doing what you can to make sure you’re the first person a prospect would call.

Every time a prospect calls your hotline number, you are notified right away of the call through your fax, email, cell phone and/or PDA. This immediate notification is essential since as mentioned before, leads will most likely transact with the first agent they come in contact with. The sooner you make your own response to theirs, the sooner you establish rapport, the more likely you will be able to close a deal.

And now, some words about your ads...
The ads you place must be designed to compel a reader to call you first. You do this by offering something a prospect wants to have. The nature of being a prospect shows that they are interested to know more about the real estate business. So why not offer information you feel they need to know?

Also, make it clear how you can help your prospect. They’re more interested in that than reading about how you are one of the top sellers in your district. Showing that you can and want to help makes you more inclined to be called.

Same business, some new tools...
The things mentioned above do not in any way replace the trusted methods of establishing rapport, conscientious follow-up and genuine character building. In the bigger picture, this accounts for the closing more than any other fancy tool.

Finding leads through these means simply save you the time and the effort in mining for new leads and allows you to devote your energies to more enriching tasks both for yourself and your prospects.