Real estate agents don’t just show appealing homes and properties. They must also generate seller leads. By understanding how important seller leads are, real estate agents can determine their best marketing methods to use in their marketing strategy. Through marketing, agents can find buyers and sellers in the cities where they operate.
There are two types of leads that real estate agents must get. The first are motivated seller leads. Real estate agents must often battle investors for these seller leads. The second type are traditional seller leads.
Before we get to the two types of seller leads, let’s first go over a couple of things. Why must real estate agents generate seller leads? Also, what are the benefits?
Why Generate Seller Leads?
In real estate, a seller is someone who wishes to part with their property. The seller wants to “sell” their property to someone else. A seller lead is something that points to a potential seller. A real estate seller lead points to a potential property seller.
Since real estate agents make money only when they sell homes, seller leads point to potential real estate profit. To make money on a consistent basis, real estate agents must generate seller leads.
They must fill their seller lead pipelines. Why? Not all seller leads become home sellers. The more seller leads, the better the chance of home sales.
Benefits of Generating Seller Leads
Real estate agents can generate seller leads via online or offline. Offline seller lead generation includes things like postcard campaigns and door knocking. Online seller lead generation includes things like pay-per-click and Facebook advertising.
Pay-per click advertising leads to more conversions. But, it also costs much more than offline seller lead generation. That presents a dilemma. Should real estate agents go with costly online lead generation? Or, should they stick with offline seller lead generation?
There is a third option. Lead generation platforms like Home Value Leads exist to aid seller lead generation. Incorporating offline and online seller lead generating techniques with a lead generation platform will lead to success.
How to Find Motivated Seller Leads
It’s great that online marketing can generate real estate leads and build your reputation. But, where can real estate agents find motivated seller leads? Also, is it possible to find any free real estate leads? All real estate agents have these questions.
Before getting to that, we must first define what a motivated seller is. Per J.D. Esajian, president of CT Homes LLC, a multi-million dollar real estate investing company, a motivated seller has the will to sell their property at a favorable price or at favorable terms. Motivated sellers want to “get out” of the property. Below is Esajian’s factual definition of a motivated seller:
- Willing to sell the property at a very favorable price: Usually this means 10-30% below market value.
- Willing to sell the property at very favorable terms: This includes things like no money down, 0% interest, financing, etc
- Has a strict timeline
Real estate agents love sellers that “want out”. The longer a property remains on the market the harder it is to sell the property. Property that flies off the market puts a smile on the real estate agent’s face.
Now that we know the definition of a motivated seller we must find motivated sellers. How? Lending Home lists 5-steps to finding motivated sellers. Although the list is geared towards property investors, we can apply it to real estate agents. We list those 5-steps along with our thoughts.
- Find the Data – Lending Home suggests you head to the courthouse. At the courthouse, you can find delinquent tax information. This information is free. Home owners who can’t pay their taxes are often motivated to sell.
- Develop a list – Develop a specific inventory list of motivated sellers. Lending Home suggests you create a list with 4 categories: property owners with delinquent taxes, out-of-state or out of country property owners, longtime property owners, and absentee property owners.
- Filter the list – Now that you have a list it’s time to filter. Make hard decisions. Which seller leads do you want to acquire? Consider your time and money. You must work hard to sell any house. Even if you find a motivated seller, you must still work to sell the home.
- Marketing campaigns – Lending Home suggests you use direct mail, Craigslist, your website, or the phone to send the right message to prospective sellers. We suggest that you call motivated sellers as soon as you decide you wish to sell their home. Motivated sellers are more likely to go with an expert real estate agent than an investor. It takes time to explain what an investor does.
Explain that you could list them ASAP. Tell them that you know how to get their house in front of buyers right away. With investors, it can take time. Make time your selling point. Remember, motivated sellers have strict timelines.
- Know how to talk to property owners – We only list this because we want to give Lending Home their due. You are a real estate agent. You know how to talk to property owners. That’s what you do on a daily basis; but f you have trouble or want to brush up on your communication skills, check out 6 New Ways Real Estate Agents Can Master Communication.
One note on finding the data. You can access a motivated seller lead generation site like Lead Geeks. But, those leads are quite costly. Also, investors often use sites like Lead Geeks to find motivated sellers. Consider your time, money, and energy before paying for motivated seller leads. Instead of buying leads, build your communication and branding skills. You are the real estate expert not investors.
How to Generate Real Estate Seller Leads
Motivated seller leads are the top leads you can get. Real estate agents must battle investors for motivated seller leads, though. No real estate agent can create a sustainable business by fighting investors for leads.
They must develop a strategy to get seller leads on a monthly, weekly, and daily basis. Check out 5 successful techniques for real estate seller lead generation.
1. Offer Instant Home Value Reports on Your Site
Free offers force people to pay attention. Offering free instant home value reports can generate leads. This is easy to do. All you must do is look to a company like Home Value Leads.
Home Value Leads provides real estate agent software that does many things. One of those things is to create automated home value reports.
Home Value Leads uses high quality data to provide automated home value reports which are updated every month. Not quite right? We give you the ability to adjust the values to get them just right!
The service can help real estate agents build a consistent flow of seller leads. Check out how.
- Most homeowners don’t wish to sell – Many homeowners don’t think they should sell. Some don’t feel they can sell. The home sales process intimidates others.
- Free home value reports establish the value of the home – When real estate agents provide home value reports, they establish the value of the home. The value of the home can turn an owner into a seller. Most homeowners don’t know the true value of their homes. After discovering it, some will want to sell.
- Free home value reports establishes you as an expert – Fear turns homeowners into motivated sellers. But, most homeowners aren’t motivated sellers. Fear keeps these homeowners from selling.
An established expert, like you, takes away fear. Home owners are more likely to sell if they know a real estate agent has their backs. A home value report shows you have their back.
2. Generate Leads from Facebook
Facebook remains the best way for real estate agents to advertise online. They can use Home Value Leads Facebook advertising platform to generate seller leads. Then, they can use HVL’s other tools to manage the leads.
3. Brand Yourself the Right Way
HVL can help you develop a powerful website. Your site is a great branding instrument. Websites alone won’t help real estate agents stand out from the crowd. Check out three things you should do to build your real estate agent reputation.
- Make sure all marketing helps to build your reputation – While you generate seller leads, make sure to always think about your reputation. Build reputation through all marketing.
- Become the real estate expert in your neighborhood – Make sure you understand pricing trends in your neighborhood. Once you become the expert real estate agent in your neighborhood, you will generate more seller leads and sell more homes.
- Build relationships with neighborhood leaders and business owners – Work with other business owners for referrals. If possible, join a Team Referral Network in your city. Also, attend as many networking events in your neighborhood as possible.
By doing these three things, real estate agents can build their local brand. You want to sell homes that exist in your area of expertise. Building your local brand makes this easier.
4. Create Seller-Focused Marketing
Marketing materials cost money. They can aid in real estate seller lead generation, though. Make sure to target effectively. How can real estate agents do this? We’ve developed a 4-step process.
- Make sure you know the owner – You waste time and money by sending marketing material to renters. Are you sure the current residents are the owners?
- Develop a 3-category list based on home values – Real estate agents should create a marketing list based on the value of homes. Make sure you have a list that includes at least 3-categories of home values: high-value, medium-value, low-value.
- Hand deliver marketing materials whenever possible – If you can knock on doors, great! Hand delivering free gifts makes a huge difference.
- Always provide a CTA – CTA means “call-to-action”. Offer a free home value report. To get the home value report, potential sellers must provide their contact information.
5. Use a CRM to manage seller leads
For traditional seller leads, you should use a CRM to help build and manage your seller leads list. The Home Value Leads CRM provides advantages to real estate agents that help them convert leads into sales.
Although listed at 5, customer relationship management (CRM) should be the first thing you consider. Real estate agents must place seller leads into a system. That system can’t be cumbersome. It can’t make life harder for real estate agents.
Home Value Leads’ CRM provides the following:
- Lead Follow-Up – HVL allows agents to deliver customizable email drip campaigns. This “nurtures” leads until they are ready to sell.
- Lead enhancement – Many times, leads don’t leave their contact information. The Home Value Leads system searches for seller lead info.
- Instant lead notification – HVL notifies you via email and text if a seller lead arrives.
- Optimized for mobile – Potential home sellers use their phones just like the rest of us. Your home value leads site will look just as good on a smartphone as it does on a desktop. It’s also as easy to navigate.
- Automated SMS follow-up – Texting increases conversions. We communicate more via text than we do via phone. Real estate agents can send automated text messages to their seller leads.
Acquiring seller leads isn’t enough. Real estate agents must also manage seller leads. By using a customer relationship management system like Home Value Leads’, agents can convert leads into sales.
Start Generating Seller Leads Today
Real estate agents can start generating seller leads as soon as possible via Home Value Leads’ Facebook advertising program. Once they generate leads, they can manage leads via other tools that HVL offers. In addition to generating seller leads, HVL can create real estate agent websites. Home Value Leads can even originate customizable home value reports.
Sign-up with Home Value Leads and start your free 14-day trial today!