Real Estate Is About Relationships

The Shift. It’s the buzz word in both the housing industry and mainstream media these days. There is so much speculation for the changes happening. Is this a recession? A correction? Is there going to be an onslaught of foreclosures in coming months?

There are as many different opinions in the minds of real estate professionals as there are in the headlines. Truth is, agents aren’t so much concerned about the economics of the changes in the housing industry. It’s more personal. For many, it’s a question of how do I survive financially when demand slows down? The reality is, people move every day, regardless of the economy. How do you capture them, if the availabilty of buyers and sellers is a smaller pool than in recent years?

Many social media forums are filled with inquiries on the best lead source. Lead-generating companies are shamelessly soliciting agents all day through texts, promising to fill their pipeline. Many of these are very expensive and are provided to several agents. It’s very time-consuming to cultivate a relationship with a stranger from the internet.

I’d like to offer a different perspective on this with these ideas that do not require a huge financial investment.

10 Ways to Create Free Leads

1.  Attend community and local events in person. Dress like a professional. Be warm & engaging with great eye contact. Avoid the Hulk Handshake but be firm. Smile. Introduce yourself. Repeat their name, once provided. Ask questions. Use the FORD acronym if you are not a good conversation starter. Ask about Family, Occupation, Recreation and Dreams. Discover common ground with the person. If there isn’t any, move onto the next person in the room. It’s true that people do business with those whom they like and trust.
2. Be Authentic. Who you are as a human being needs to be how you show up in real life and online. Are you funny? Analytical? A  great cook? People with a natural sense of humor can post light-hearted memes about both real estate and non-real estate matters. They can tell a joke at a networking event, or share a funny story about their pet or themselves. Be open and engaging. Be positive and happy! Good energy attracts the same. Negative energy repels people.
3. Connect with agents around the country. Friend request them on your social media. Do NOT slide into their DMs the moment they accept, though. Simply start following them to get to know them. Call or email them to introduce yourself and ask if they are interested in being referral partners. Find out if they already have a “go-to” in your area. Ask permission to keep them updated on your market area via an email newsletter or through your agent database email campaigns.
4. Join private real estate agent groups on social media. Use the search bar in the group and type in your area. Look to see who has recently and previously requested an agent in your area. Friend request their main profile. Then follow the steps in #3.
5. If you have relocated recently, reach out to the agents in your former service area. Offer to send them referrals from your past customers and clients there. Let them know where you are now.
6. Research the migration trends in your area. When people are relocating, where are they coming from? Try some of these resources: https://www.uhaul.com/Archives/3/7/ , https://www.northamerican.com/migration-map , https://www.movebuddha.com/blog/moving-trends/ , https://www.extraspace.com/blog/moving/where-are-people-moving/ .
7. Send market reports and neighborhood reports from REALTOR Property Resource on a quarterly basis to your past customers and clients. Are you new and don’t have many yet? That’s okay! Send them to your friends and neighbors! You can email them or send them through the RPR app via text or social media, too! http://www.narrpr.com . Use the research tab. RPR is a national database that is available to all REALTOR members. Ask for referrals!
8. Make sure that you are accessible on social media! So many times, I’ve tried to contact a REALTOR on social media to send a referral and there is no contact information or only the website link which simply opens to a contact form. Fill out the contact section in your profile on all of your social media: cell, email and website. We are in a public profession so if you are uncomfortable doing this, you will continue to struggle growing your business.
9. Contact local small business owners in your area, including ones that you do not know. Ask if you can highlight their business by doing a quick video promotion for them that you will post to social media. In return, make sure that they follow you on social media and ask if you can leave your business cards in their place of business.
10. Get to know the front desk staff at local hotels. Sometimes, people will vacation somewhere and fall in love with a place so they relocate there. More typical is that people will stay in hotels while they are in the process of a job transfer. Sometimes they will ask the hotel staff to recommend reputable real estate professionals. Be that person!

As always, the best way to prospect and create business is to decide to engage in three or four methods and do them consistently. Decide which of these you will invest your time in. If you are not actively showing homes or on a listing appointment, your only other job as a real estate professional is to create relationships. It’s these connections that will create your leads.