how do new real estate agents generate sales leads?

Question

i have heard the best source a realtor has for leads are through referals.....but what if you are a new agent....where and how do new agents get leads

Answer 1

Contact everyone you know and let them know you are a realtor. Don't be a pain, just let them know. Perhaps they have friends who are looking.

Answer 2

First create your sphere of influence. Make a list of your friends, family, former co-workers, your dentist, your doctors, your auto mechanic, your handyman anyone you do business with. Get a list of at least 50. These people already like you and want you to do well at everything you do. Write each of them a note and tell them how excited you are to be in real estate. Find an agent in your office who will let you market one of their properties. Two weeks later send that same list a post card for that property that says just listed. Now they think you are doing business. It's completely legal as long as you don't say I just listed. Also join you local chamber of commerce or other self-employed business networking groups. Once you are there on a regular basis trust me they will start to give you referrals. At the same time everything you learned to pass your test and get the license you will never use as an agent. You need training on what to do after you get the prospect. If your company does not offer it then look into doing some courses through national speakers such as Tom Hopkins, Brian Buffini, or Richard Robbins. Theres a lot of ways to generate business start with your sphere call them or send them something every three weeks and I promise you will see results.

Answer 3

Prospecting, networking, sphere of influence... all this good, but you need to find what works for you. I think holding open houses for other agents from your office is the best way to meet prospective clients (almost every person, who comes in into an open house is a prospective client, unless they are "just looking" or already have an agent.)
Some agents go "farming" every week. They knock on doors and try talking to people. I never do it. I think people hate uninvited "door knockers." But some agents get results from this.
Having a good web site and promoting it is also helpful.
Sphere of influence is another controversial subject. Of course, there's nothing wrong with letting people know you are a real estate agent now. Definitely do it, but do not overdo it. I've heard from some "experts" that they call or write their dentists, doctors, barbers, mechanics, etc. very often. They teach you at those seminars to call and say: "Hi, this is a business call. Do you know anybody who needs a service of a real estate agent?"
I think this is plain silly. Can you imagine your dentist calling you once a week and saying: "Hi, do you know anybody in need of a root canal done?" You'd think this dentist is... strange, to say the least.
Why is it crazy for a doctor or a lawyer to make such calls or go door to door soliciting business and it's OK for a real estate agent?
About seminars... Another waste of time and money. Here's an example. A VERY FAMOUS real estate "trainer" comes to our office to promote his seminar. He promises to teach you everything including why it's a no-no to cut your commission. He'll teach you how to NEVER cut your commission. And at the end of his presentation he says that the cost of his seminar is $600 , but if you sign up right now, it will be $450.
What? He just said he'll teach why it's wrong to cut commission in order to get clients, but he is doing it himself!
I lost interest in his presentation right at that moment.
I'm saying all this just to make a point, that you need to find what works for you. It takes time. Be prepared to spend a lot of money and not to make any money in the beginning. You'll be OK, but it will take time.

Answer 4

Assuming you are in an office with other agents, volunteer to hold open houses. It's a great win-win! You're getting the opportunity to meet the prospects face-to-face achieving your objective while the listing agent is getting to satisfy objectives with their Seller. AND if your endeavor results in the sale of that house, you've just created an in-house transaction. Trust me, ALL Brokers love in-house transactions!

Answer 5

There are some GREAT answers to your question!

The least expensive way is to use business cards. If you eat out, leave one with the tip. Leave one when you pay for gas. Leave one with your grocery store cashier; pin one to any bullitin board you find.

When you meet new people have a card in hand and with a firm hand shake say, "Hi, I'm so-n-so. Do you know anyone interested in buying or selling real estate (home)?" You can ALWAYS find someone who knows someone who is wanting to buy or sell. I've found more leads through strangers this way.

If you're in a rural area go to the coffee shop in the morning and talk to the old farmers. MOST of them NEVER use an agent because they sell their own farms/cows/trucks/tractors through word of mouth. YOU CAN ALWAYS find someone WHO KNOWS someone WHO WANTS to buy or sell!

Set up a website. You can do it for free through some companies. Your MLS should allow you to set up a personal site (for a fee, of course!)

Get some magnets for your car with your company name, your name and number (don't forget, if you work under a broker his/her name MUST be on all advertising)

Hand out magnets with your business card (WAL MART has bus. card size mags that you can stick your card on-cheap) for people to put on their frig. How do you think I found my pest control guy? I had his magnet on my frig!

Your business card is the best source of referals. Leave them EVERYWHERE. I get mine CHEAP at www.vistaprint.com , they have many layouts available and you can get 250 for less than $5.

Answer 6

Prospect, prospect, prospect.