Many real estate agents and brokers spend a considerable portion of their marketing budget on lead generation.
I was doing some research the other day in the AdWords Keyword Planner and was SHOCKED to see that terms listed below were generally running with suggested bids in the $22-49 range. Wow, this completely stopped me in my tracks! These include:
- ‘real estate leads’
- ‘lead generation for realtors’
- ’email campaigns for realtors’
- ‘real estate postcards direct mail’
There are not many keyword groupings that target what I call ‘regular businesses’ that fall into that pricey range for so many phrases. So I did a quick terms search and realized that Trulia, Zillow, Experian, etc were the bidders on these key phrases, and the larger part of the first page results was geared towards selling agents expensive education plans, marketing strategy generators, and the like.
Realtors® who keep lead gen costs down are running much more profitable sales businesses.
While referrals are still the lifeblood of a successful agents pipeline, the hyper competitive nature of the business these days means that more tools are being used more often. I ran across an agent last month who didn’t have a website. That’s right. No web site. He sold the house next door to us, and I was floored that he had no web presence beyond a couple of YP.com reviews and the MLS listing that stated he was the listing agent and gave his phone number. He’s an old guy, probably past retirement age, and not likely to need the money since he’s been a broker with his own firm for something like forty years – he gave us the lowdown when we popped over after he accidentally set the alarm off one afternoon. So yes, it’s still possible to sell a house without relying on technology to do it.
Most agents and brokers have multiple sources of real estate lead generation.
Less entrenched agents, especially new agents, are spending a TON of money buying listings – mostly non-exclusive listings that are re-sold exactly as many times as there are buyers available with cash in hand. The big lead brokers know exactly what emails and postal mail addresses are worth and the credit bureau marketing companies like Experian have their pricing down to a science.
“All of our buyers are generated from online marketing – we have not had a random walk-in buyer in at least a year” – James, real estate agent, Daytona Beach, FL
Maximizing prospect interaction and engagement is key to more sales and reduced lead gen costs.
Technology can be a wonderful thing – for instance, mobile wallet marketing is the MOST EFFICIENT method of communicating with prospects:
- in a contextual manner (geofencing, iBeacons on property)
- a time based manner (notify prospects that a property they are interested in now has an offer)
- or as a means to a long tail, ongoing relationship (property listing passes are converted to agent information cards, referral requests, or promotional contact cards)
Using mobile wallet marketing means that 90% of the installed passes never get deleted.
Unlike traditional email marketing, where it’s hit or miss into the inbox, or other types of generalized ads such as postcards via snail mail, once a user installs your property listing pass, agent info pass, or other pass, the likelihood that it will stay in their smartphone is approximately 90%.1
There is nothing more effective for customer engagement.
We’ve created a short video that explains how realtors, real estate brokers and real estate agents can use mobile wallet marketing to maximize their return on lead gen dollars spent, how to create effective campaigns in only a few minutes and how to start creating long lasting relationships with prospects that have multi-faceted communication strategies enabled from the start.
If you’re not already using mobile wallet marketing to build your client list, engage with your prospects and generate more referrals from existing clients, click here to learn about the simple plan that will jump start your business –
1 Urban Airship study released April 2015.