Imagine this: You’re a real estate agent who’s interested in buying leads for the first time.
You’re familiar with the benefits but unsure of exactly what steps you should take to get started.
While it’s never been easier to buy high-quality real estate leads online, there are five things you need to know before making your first purchase.
1. Not all online lead services are created equal
One of the biggest mistakes you can make is purchasing leads from the first provider that you find. Before you head down this path, take a step back and make a list of what’s most important to you.
This can include details such as:
- Customer service
- Delivery method
Don’t fall into the trap of believing that all online lead services are created equal. This could end up costing you time and money.
We Have a Question For You
What are you interested in?
2. Filters are your best friend
As you get started on the buying journey, you’ll realize that there’s no shortage of leads to choose from.
However, when it comes to the real estate industry, it’s important to use local filters.
For example, if you’re selling life insurance, you can purchase leads from all over the country and communicate online and via phone. But that’s not the case with real estate. You need to connect with local leads, and that’s where filters come into play.
Make note of the zip codes you’re most comfortable serving and then use them as filters. This way, every lead that you purchase is a lead that you can actually close.
3. A budget is a must
It’s easy to go overboard when you buy your first leads.
That’s especially true once you taste success. But there’s a problem: If you don’t set an affordable and realistic budget, you could find yourself spending your marketing dollars sooner than you had hoped.
Start with a small budget for getting your feet wet.
For instance, instead of buying 100 leads to start, set a budget for 20 or 25 leads. You may not convert any of these leads into clients, but it at least gives you the opportunity to understand what you get for your money and how the process works.
With each batch of leads that you purchase, you learn more about your wants, needs, and budget restrictions. You can then adjust your approach accordingly.
Tip: You probably want to spend money on other marketing and advertising activities, such as online ads and content creation, so leave funds in your budget to do so.
4. Don’t buy more than you can handle
It’s exciting to buy leads. It’s an opportunity to fill your pipeline without putting in any work, and that’s always a good thing.
The problem with this is that it’s easy to buy more leads than you can handle. And if you do that, you’re spending money on leads that you never touch. This sort of bad money management will kill your return on investment (ROI).
This goes back to starting small. Slowly increase the number of leads that you purchase every week or month. Soon enough, you’ll know where your “sweet spot” is. You can then stick with that number for the time being.
5. Buying leads is just the start
Buying leads is a good step in the right direction, but it’s just the start. A lead is only a lead. There’s no guarantee that this person will want to utilize your services. You also need to do the following.
Contact the lead immediately
The sooner you do this, the less chance there is of losing out to another real estate agent.
Provide more information
The lead may not know the first thing about you, your company, and what you’ve done for clients in the past. It’s your job to provide this information sooner rather than later. It’s generally best to share the basics over the phone while following up with an email that directs them to learn more.
Stay the course
You’re not likely to turn a lead into a client on the first contact. It may take several contacts — via email and phone — to reach an agreement. Don’t give up if you don’t get what you want the first time you speak with a lead.
Frequently asked questions
At this point, you should have a clear vision of what buying real estate leads can do for your business. But that doesn’t mean that you don’t have questions. Here are eight questions to answer before you purchase leads:
- How do you currently generate the majority of your real estate leads?
- What is your close ratio for each generation method?
- What is your monthly advertising and marketing budget?
- Do you have enough time in your schedule to contact the real estate leads that you purchase?
- Do you plan on combining the purchase of real estate leads with other forms of advertising and marketing?
- What’s most important to you in a lead generation company?
- Are you comfortable calling leads that you purchase?
- Do you have a sales script for calling purchased real estate leads?
As you answer these questions, expect others to come to mind. Addressing all of these questions upfront will allow you to layout the best path for the future.
Let Aged Lead Store Be Your Guide
What do you think about the above details? Are you ready to buy real estate leads today? Are you confident in your ability to turn leads into clients?
At Aged Lead Store, we have 20+ years of experience in the online lead generation space.
Not only do we provide access to the highest quality real estate leads (among other types), but they’re also affordably priced. Add in top-of-the-line customer service and it’s easy to see why so many real estate agents turn to us.