I would like some advise on building a business in real estate sales.Lowcost lead generation techniques.?

Question

I have been lisenced only 5 months in TX and have been struggling on finding good leads.Some things that I currently do like wearing a name badge and cold calling just are not working for me.I don't have alot of money so I would like some ideas on lowcost techniques.

Answer 1

The easiest way for agents to find business have little or no cost. You should be going to fsbo and trying to get their listings. These are people who have already decided to sell so you have already crossed that hump. Now all you need to do is convince them to sell with you. Ask your broker for some tips and advice on what to say.
You also should be going to all expired listings and trying to convince them to sell with you. They again have already decided to make the move, just get them to do it with you.
Then you should be holding open houses for the top dogs in your office. They hate to do them, and it is a great way to pick up buyers.
last instead of cold calling people you don’t know, and more importantly don’t know you, call all your friends and family. This is called your sphere of influence. You should get at least 50% of your business out of them. Now they may not want to buy or sell, but they may have friends or co workers who do. If they recommend you are half way there. You cant just call and let them once, call at least monthly and ask.
Here is a sample dialog. Don’t ask "do you know anyone who wants to buy or sell" As you can see it requires no thought, they will just say no if someone is not right on the top of their head.
Instead you say "Hi uncle Bob, if you had to tell me one person you know who would likely be next to make a move who would it be?" See how it makes them think instead of a simple no. You will get answers like, "well jonny at work mentioned they are having another baby and may need a bigger home." You say great, would it be ok if I contact them?" They may say yes or no. If yes ask for contact info. If they say no you politely ask if they will tell them to contact you, or get permission for you to contact them. You will be surprised on how well this works. Trust me there is so much business out there, you just have to figure out how to tap into it. I will be happy to answer any other questions if you email me. I also suggest picking up the book how to become a power agent in real estate. It is by Darryl Davis.
good luck, you can do it.

Answer 2

Let your friends and relatives that you are in the business.