Real estates Guide

Networking: Making Connections, Finding Leads

By admin | January 21, 2007

If someone could wave a magic wand and make the tedious task of finding leads a simple and easy task, you’d go for it, wouldn’t you? If you’re like most real estate agents, your answer would most likely be a resounding yes.

Why? Perhaps the high turnover of new agents and the rate they quit right after starting says a lot. Some experts note that 50% of new real estate agents give up within a year of starting, citing frustration despite all their efforts as one of the reasons for quitting. You may not necessarily want to quit. But the thought of wanting to make things easier as far as finding leads are concerned must have certainly crossed your mind.

You are also probably wondering how did those successful agents manage to be where they are and earn what they do in spite the difficulty of doing business in general nowadays. Maybe they’ve got great communication skills. They probably are one of those “born” salesmen that can sell anything. Or perhaps they’re just plain lucky.

Those may or may not be true, but one thing is for certain: Successful agents succeed because they’ve built and maintain an extensive network that ensures him/her that business will come in no matter what.

Seems easy? Yes and no. It is easy in that the act of networking is simply making a connection to a person who can lead you to several others. Also, you have to be the kind of person everyone wants to refer to his or her friends and acquaintances and THAT part takes work.

But once you establish that kind of network, you will find that the leads are reliable and are very likely to keep doing business with you. They may even throw more business your way. They will also be the most cost-effective leads because all it takes to generate a lead is only as much as you would spend on a personal phone call or well-written email/letter.

Getting started
That said, how do you start building a network that will work for you and give you leads you need? For one thing, it does NOT begin with printing out fancy business cards. It begins by working hard on building on a credible reputation for yourself and/or your agency. Be the kind of person that walks the talk. Think about it, would you rather work with a shady dealer or with someone who is genuine about everything he/she says and does?

People pick up not only the words you say but also more importantly, the way you say things. If they feel that you are simply after making profits out of their transaction, you’ve most likely lost the deal before you could negotiate it. Compare this with someone who shows a real concern for helping find the best deal possible and you’ll see why this kind of agent lasts longer than the hard-sell kind.

Listen more
Probing for usable information and leads is an art. An agent like you must be able to develop the skill in fishing out information from every conversation you take part in. Getting the information requires discipline on your part to listen more and talk less. That’s NOT to say you keep your words to a minimum, but rather, give your contact more opportunities to talk and listen to what they have to say.

If you need to speak, it is more to encourage the person to share rather than you interjecting a word to dominate the conversation.

Now, onto your business card…
Of course letting people know how they can reach you is an important part of doing business in real estate (or with any business for that matter). But it is more important for you to be asking for that information. After you build an initial rapport, politely ask for his/her contact information.

Don’t even think of handing out your card when it’s not asked for. At least, ask permission if you could give them your card just in case they need to inquire about anything regarding real estate. Thrusting out your card to a person who’s not asking for it is pretty much like saying, “Call me.” In dating, we find that pretty presumptuous. The idea doesn’t change when it comes to business.

Now that you’ve built a genuine and likeable persona and now that you have the information you need and the contacts to pursue the information with, you need to work on mining this information for leads.

Follow up with friendly correspondences. It helps to refer to your last conversation to open up your letters/calls. It is here where the benefits of listening come in. Your contact realizes you took the effort to remember what they said, and that speaks a lot about you.

Another plus in guiding the conversation towards something related to your business is that there is a logical take-off point for you to introduce your services and what you can do to help the person with their real estate concerns.

A genuine character and attitude, coupled with strategic probing and follow-up will get your network working for you and may give you leads that are as good as closed. It takes a lot of work, but the process is far more pleasurable than a cold call. You are connecting with someone who wants to connect back to you and may be willing to introduce you to their own network simply because they like you and the way you do business.

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Lockbox Opens to Leads

By admin | January 21, 2007

Lockboxes are tools used by agents of real estate to get a hold of keys of houses and properties that are listed as available for purchase. Lockboxes exist for the number one reason that it is an effective tool to ensure that only authorized agents could enter inside houses that are up for selling.

Lockboxes are called as such because that is what they are. Usually, these boxes are made out of metal and are attached to the doorknob in front of the house or any other secure area nearby. Inside this box is another smaller sized box. This is where the key of the house is located. This makes sure that no unauthorized strangers could freely come inside.

However, the lockboxes that are available now are more high-tech. Current lockboxes contain a small microprocessor and utilizes an electronic key for it to be opened. This key would only be available if one is a member of a listing service. Each key holds a specially marked identifier. The agent who is a member of the listing service in their local areas are also assigned a unique and specific code that is highly personalized.

Only they could have access to this code as they are not allowed to give it to other listing agents.

The purpose of this is so that whoever enters, the microprocessor sort of records or makes a log as to who went inside the house as well as what time and date. This is an effective security tool for the homeowner. But primarily, lockboxes are there in order to make it easier to sell a house.

In the absence of a lockbox, the seller of the house would then be required to be present when a prospective buyer comes by along with his or her agent. Because of the lockbox, the seller’s presence becomes voluntary and not a requirement. Also, there is the question of security.

There may be instances wherein the seller might leave the door open after giving buyers a tour around the house. Via the lockbox, there is no second guessing as to who did such and such. The questions of who let the cat out or who left the water running in the kitchen sink is no longer an issue since the identity of the agent who comes and goes is immediately known.

This feature proved to be a relevant necessity during an instance in Kirkland, Washington almost four years ago when a real estate professional was apprehended following a series of burglaries from FOR-SALE residential houses that the particular agent visited. This agent had access to lockbox keys and, fortunately or unfortunately, this is the same tool that enabled the agent’s arrest. This system of lockboxes enabled the arrest of Kathy Troxel, via the trail of records she left.

The pioneer in the creation of an electronic type of lockbox was made possible by Supra Products, Inc. This was eleven years ago. Their company has its headquarters in Salem, Oregon.

More importantly, lockboxes are great avenues for showing off property and houses one is intent to sell. Newer features of certain lockboxes limits the access of anyone to only a specified time, day and hours. This is in case the seller requires privacy once in a while. More complex lockboxes have a feature wherein agents are required to call first before showing up in front of the house they are intent on selling.

Real estate companies in the United States are also using the most recent lockbox from Supra. The new application makes use of a handheld device that is connected to a larger network of information, including the most recent ones, that are all related to real estate. This new palm-sized device is placed in a receptacle equipped with a modem. This new mobile device enables agents to have immediate access to updates on local real estate listings in their specific area. This new tool also provides maps and directions for driving and a roster of members to make it easy locating agents. This device is run by a battery made out of lithium. This device, while placed in the receptacle, is also being charged so there is no need to bring any back-up batteries.

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Advantages of Getting a Real Estate Lead Generation Service

By admin | January 21, 2007

In Real Estate business, all you wish for is getting more leads. You may have tried almost all tactics and methods to generate more leads but have exhausted all your energy. You may want to consider getting a real estate lead generation service from another provider. Here are the advantages in getting a real estate lead generation from a service provider:

1. You get quality leads. You can be assured that the leads you will get are targeted. When you say targeted, you are able to choose from which areas, products and the type of services you would like your leads to come from. You are in control of the leads without the hassle of doing cold-calls. You can ensure that all the information is just right for your service and market.

2. The information you will get is detailed. All information from the lead is accurate and will contain all the details you may need. It should include all contact information and all their buying preferences. You may then be able to contact the prospects via phone. There are times that the information will even include the e-mail addresses of the persons and their quota for the price of real estate. This will make the job easier for you.

3. You will get up-to-date results. You will be assured that all the information is current and will be delivered to you on time. You may choose to receive the list of leads via e-mail if you prefer. The quotes from prospects will also be delivered to you on time and you will be updated of any changes with their specifications.

4. There are a lot of lead generation services to choose from. You may make use of the Internet to compare the services they offer, including their prices. It will be better if the service provider is able to offer you a free trial to test their service before signing up.

5. You will be able to choose from a variety of price options. This will depend on the number of leads you choose to receive every month. All you need to do is determine the price for getting a certain number of leads for each month.

6. There is no hassle in signing up for the service. All you need to do is register online and you will receive their service right away. If time is important for you, then getting a lead generation service is perfect for you. You save time and energy gathering leads and you will be assured that you do not only get multiple leads but quality ones.

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How to find Real Estate Leads via…Local “Parade of Homes”: A Lifetime Goal

By admin | January 20, 2007

In today’s growing economic crisis, most people are reluctant to buy their own home. This is unfortunate because it is a buyer’s market and a good time to buy.

Why? Because properties for sale abound as a response to the recent economic crisis. Some previously overpriced houses have as low as 25% discount.

Therefore, since there are too many housing projects on the horizon, realtors have to work double time and employ radical measures to be able to generate real estate leads. The competition becomes so intense that most realtors find it hard to generate the quality leads that they need.

Therefore, it is best for each realtor to find some effective strategies that will help them produce the leads that they need in order to create the sales and the money that they want.

One of the best ways to do this is through the local “parade of homes”.

In this manner, realtors, builders, and developers work together, in order to display model houses that are being sold in the market. Through the parade of homes, real estate developers are able to systematize the building a number of homes under one “sub development” through the help of some group of builders. This group of builders were arranged and coordinated by the real estate developers themselves.

Basically, homes that are included in a “parade of homes” are freely available for the public for sightseeing and explorations. Usually, parade of homes showcases groundbreaking ideas for most homebuyers.

For this reason, organizing a “parade of homes” will definitely allow realtors to find their much-needed real estate leads. This is because most people who will attend this kind of event are the ones who have the potential to buy or are interested in buying a house.

Moreover, local “parade of homes” can give the potential buyer a chance to meticulously scrutinize the overall condition, structure, and features of the house. Seeing the house on its actual condition can definitely entice every customer who is very willing to buy a house.

Therefore, it would not be hard for a real estate agent to convince the person to buy the house, not unless there is a problem with money.

It is a well-known fact that people who mostly go to “parade of homes” are the ones who are interested to buy a house or those who have plans of buying a house. Hence, these people can be easily converted into leads, and leads can easily generate deals and transactions.

Besides, it would be easier to explain presentations and features of the house to a person who have exerted efforts to attend this special event just to see the house. This is all based on the interest of that person in buying the property.

The logic is simple. If the person were not interested to buy a house, then he would not go to all the trouble of finding “parade of homes” events and travel from his place to the venue.

In addition, through the “parade of homes,” realtors can easily take their client through each property in detail, explaining the topography of the lot, the neighbors, the streets, the drainage, the security, the whole package. In this way, the realtor can explain why the property will fit the buyer’s needs.

Having been informed with all the “parade of homes” can provide, the buyer could easily realize that they have gained more than just a roof over their growing families. In turn, they would be more than willing to buy the house.

Indeed, the importance of using “parade of homes” in finding real estate leads is undeniable clear. What is important when using this strategy in generating leads is to make the buyer realize that they have just made a major investment.

When you use this tactic, you should be able to make the buyer feel that money-wise home ownership in the coming decade means buying to sell in the future. Moreover, they can only be satisfied if they were able to see the actual features of the house.

All of these things are boiled down to the fact that generating leads through “parade of homes” is relatively effective because homebuyers get to see what they are paying for. Hence, they get to be assured that where their money goes is worthy of its cause.

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A Better Way of Finding Hot Real Estate Leads

By admin | January 20, 2007

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.

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How to Overcome the Difficulties of Generating Real Estate Leads

By admin | January 18, 2007

Many real estate agents find the generation of real estate leads very difficult when it is not. It would only be difficult if you do not understand the main concept of real estate generation leads. Generating real estate leads is all about prospecting, not only for 7 days but for a specific period of time that is realistic. It is not about prospecting a specific group of persons but by targeting almost everyone around you.

Here are a few tips to help you overcome the difficulties you encounter in generating real estate leads:

1. Make prospecting your daily routine. Prospecting is not limited to those you have already met but also to those you have not yet met. Do not hesitate in gathering contact information. They may not be your prospect today but they may become one in the near future.

2. You will be able to generate leads for real estate if you know how to deal with people your own way. It is as easy as being yourself and letting your prospects remember you through your own way. Remember that you have a lot of competitors and the only way that you will be remembered is by creating your own image.

3. Always make a follow-up on your prospects. It is not enough that you have contacted them once. It is important to make a follow-up call or appointment to make them feel important and remembered. This will also inform you of any updates regarding your leads whether they are already considering getting a real estate from you.

4. Be consistent. Prospect your leads all the time and do not waste any time without you prospecting. Lead generation is all about prospecting. You should know the different styles and strategies on generating your leads.

5. Learn to network. The only way you could expand your market is through networking. You may use your friends and relatives for referrals. You can advertise by disseminating calling cards, post cards, direct mail and making a website in the Internet.

6. Enjoy your job and do not get discouraged with previous rejections. If other prospects did not accept your offer, do not throw away their contact information. They might change their minds and reconsider your offer. Also, do not dwell on a previous prospect who has declined your offer. Check your list and go to the next prospect. In order to generate leads, you should be patient and should have the determination regardless of the underlying difficulties.

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Generating Real Estate Sellers

By admin | January 17, 2007

Real estate agents can build a website aimed to create seller and buyer leads as well as to impart helpful principles of marketing to brokers in the firm.

The pages on your real estate site can be designed to impart a particular concept and grant help for brokers.
For instance, an agent who wants to assist brokers in their determination to create listings from the “for sale by owner” can include a web segment that lets the “for sale by owner” promote for free.

This makes it much easier for the agent to start the relationship with the homeowner and increases the agent’s chances of securing the listing.

There are also firms that specialize in supplying leads to real estate businesses. This process involves a certain firm to develop a website or affiliation with some websites wherein they advertise your service.

A prospect locates these sites, enabling them to accomplish an online estimate form. Upon receiving the form, the information of the buyer is confirmed then matched to a suitable provider. These leads are sent by way of email to the providers along with their contact data and buying requirements.

This also applies in the real estate business. Research show that eighty five percent of home buyers search the internet to look for realtors and new homes.

The quality of leads is the most significant factor to the success of lead generation; it can become expensive when the leads do not produce sales results. Make certain that there is an efficient sales crew to conduct the leads.
Lead generation permit your firm to direct on qualified clients instead of wasting your resources and time looking for prospects.

Your lead generation plan must include:

1. Plan your approach. Frequency, consistency and variety must be included in your plan. Your lead generation plan must be designed in such a way as it touches the same precise group of individuals, in a variety of at least three mediums, at a frequency that it creates an effect through constant communication.

2. Define. In the process of deciding which medium to carry out, maintain a defined targeted market. Choose activities which speak and touches promptly with your prospects.

3. Qualify. Before you register your prospects into the lead generation program, qualify them first.

The internet has radically transformed the way agencies conduct their business for it to succeed; it is extensive and provides its users infinite access to suppliers and vendors, thus producing numerous competition between businesses as well as it eliminated geographical boundaries for both sellers and buyers.

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Doing Business Online: Get Leads in Real-time

By admin | January 15, 2007

The advantages of doing business online—regardless of what industry you’re a part of—is the fact that you can enjoy the perks of a round-the-clock business without supervising it simultaneously. You also have the benefits of generating responses in real-time and creating an effective database from where you can store the crucial information in your business.

Real estate, like many other enterprises, relies heavily on the leads to which it can market its product. More than any other business enterprise, however, it has taken great advantage of the virtual realm of the Internet. Many arduous tasks usually performed by real estate agents have been facilitated or taken over by the Internet. This, however, has not been such a bad thing.

One of the most beneficial benefits of the Internet to the real estate industry is the fact that instead of having clients visiting open house shows or model units, they may opt to view the real estate in the comfort of their own home. This is done through virtual tours of any real estate property. Virtual tours can be advanced enough to integrate full navigation of a virtual counterpart of the unit or property you are selling.

Given that your would-be client has complete access to information you usually would provide in person, how then can you make sure that you can still get leads out of these virtual tours? Maximize the potential of the Internet and make sure that while they are clicking away in their virtual real estate tour, they provide you with further information through which you can get in touch with them or send them other information about your venture.

Another option is to tie up your content with the information you need. This means that for them to be able to view your real estate video or take a virtual tour, they will have to provide you with an email address or the like, or sign up for your newsletter. This way, you can keep track of who’s taking your virtual tours, and moreover, keep interested those who seem interested by providing supplementary materials right to their inboxes.

After the virtual tour, you may also create a page designed especially for online referrals. Don’t hesitate to ask the visitor to enter the email addresses of friends should he or she be impressed with the virtual tour. Send these referred email addresses links to your website and to the virtual tour, and you will find your leads increasing exponentially.

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The Power of the Grapevine: Pushing the Limits of Word of Mouth

By admin | January 14, 2007

If you know the power of gossip, then you’re pretty much aware of the power the grapevine holds. A good rumor will expand to becoming a great rumor, while a bad rumor from the beginning will likely turn ugly as time passes. But regardless of however you see the moral and ethical value of gossip, you are certainly aware of the potency of the word of mouth. In fact, many professionals and entrepreneurs swear by the efficacy of word of mouth. You can look at word of mouth contributing to almost 35% of sales in the fast-food industry, which accounts for a lot more than the advertisements you put up on the highways or on television.

You can make use of this very potent tool in order to find solid real estate leads. It begins with efficiency and care for your existing customers. Obviously, they won’t refer you to a friend or an associate if they are not satisfied with the service you offer them. Understand that referrals from your client are backed up by their own credibility to their acquaintances, and they will not be willing to stand behind below-par service.

Therefore, don’t be afraid to cultivate meaningful relationships with your clients. By making sure your clients are satisfied with the service you already provide them, you are increasing the chances of you being mentioned over lunch or coffee to another potential lead. Because people who are on the receiving end of this referral trust from your client as it is, it won’t be very difficult for you to gain leads through a solid referral.

Moreover, should you want to be more active in your pursuit for leads, don’t be afraid to ask your client if they have friends or associates who would be interested in your service. Again, if you have a meaningful business relationship with your clients, they’d be more than willing to almost automatically provide you with a contact number of a friend who’d be interested in availing your services or your real estate property. By making this request to be referred explicit, it’s going to create an impetus for your client to mention you once in a while in his or her circles.

Give your clients an extra card or two with your contact information. This way, when he or she brings your real estate venture up or happens to be in the company of one who is looking for a real estate service, he or she would have something tangible to provide to the person she is referring to you. This creates greater probability of a call rather than when he or she simply mentions you, which increases the likelihood of not providing your contact details to the interested party.

Referrals allow for you to gain leads via the trust and confidence of a current client with you. Build a meaningful relationship and enjoy the benefits of client referrals.

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How to Find Real Estate Leads Through Press Releases

By admin | January 13, 2007

A Press release can be a good driving force to get you those quality leads that you’ve been looking for. Press release optimization, along with search engine optimization can make your prospective clients find your website easier. Millions of visitors from all over the world visit search engine sites like Google and Yahoo, and you’d want these millions to see your site and become one of your clients.

Using press releases, you can reach your market, and show a formal tone as well. Press releases are formed using emotional words, and this shows a certain formality as well as an emotionality with your image, unlike the normal ad or article that simply describes the properties and features of you firm or the realty. Essentially it’ll be easier to reach the heart of potential leads if you use a press release.

However this feature of a press release also poses a certain disadvantage, it makes the text hard to optimize for search engines. The words used aren’t necessarily at the same level as the algorithmic categorization used on regular documents.

So how do you optimize your press release? Well the language you use must be interesting enough for the readers as well as the machine. The machine uses different equations to determine the topic and categorization of your release.
You can use tracking programs to track the visitors of your press release, where they came from, etc.

Press release optimization can be done professionally, or if you’re confident enough, you can do it yourself; however, there isn’t a guarantee that it would be effective.

Sow what do you get from using press releases? Well, the leads you’ll find will most likely be interested in finding a house or selling a house in the first place. So what you’d want to do is create a press release that is interesting as well as eye catching for them. And as said earlier, press releases are emotionally/poetically written, making it easier to instill that desire in people to read, accept and finally call you.

Press releases are published on different sites on the web like Google News and Yahoo news, both of which serve millions of viewers everyday. A press release makes use of this feature, and gives you the exposure you need. Most press releases, if optimized properly, can get up to 90,000 hits a day, much like the pay per click advertisements.

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