Michael Hellickson was asked by Top Producer Systems to create a 6 part series of the most important aspects of real estate. In part 1 of 6, everything has to start with lead generation!
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Lead generation is huge in today’s real estate market and EVERY market for that matter. Michael Hellickson talks about how lead generation is part of the essential equation to your success:
Lead Generation + Lead Follow Up + Lead Conversion X (Systems x Talent) = Income & Freedom
One of the most important things in lead generation is your Perfect Daily Schedule. Once you figure out your Perfect Daily Schedule, and you make lead generation a part of that schedule, you can start exploring the different types of lead generation!
As you can see, lead generation, lead follow up, and lead conversion are the main parts to the equation. When generating leads you must remember that there are two distinctly different types of lead generation:
ACTIVE lead generation, and PASSIVE lead generation.
Another way to think of “Active” lead generation is “chasing” leads. As your business matures you will deal more with passive lead sources, or “attracting” leads. The latter is also called “marketing”!
In the beginning, for example, referrals are more of an active lead source.
As your business matures and you get the ball rolling, referrals will begin rolling in just like a passive lead source. Before you know it, a cumulative growth effect begins to take over.
Much like getting a train moving down the tracks, it takes massive energy to get it started, and FAR less to keep it moving down the tracks once it has some momentum.
Marketing plays a huge part in growing your business and not just in terms of your a referral base (aka, “internal marketing”). Passive lead sources can come from Facebook Ads, billboards, online and other social media, pay per click (PPC) and even TV and Radio advertising!
You can also use purchased leads, for example LeadsLikeCandy.com . You can write a check and get leads, but in order to write that check, you have to have some money. In order to get money, you will need to start off with the active seller lead sources!
Most real estate agents begin their career with more time than money.
As your business matures, you will have far more money than time, and thus, will lean more towards Passive Marketing sources!
There is an entire SYSTEM to referrals. Yes, a SYSTEM.
Large numbers of referrals don’t just happen, you have to make them happen. Sure, many real estate agents get referrals from friends and family without any formal lead generation efforts, but it’s unpredictable at best.
DO NOT leave your business success to chance!
Develop a deliberate, predictable monthly flow of referrals you can count on. Start with everyone you know, and everyone who knows you. You have your sphere of influence, your friends, family, past clients,even attorneys!
To get predictable referrals, you need to call, send notes, drop by with swag., host client appreciation events, mail out an engaging monthly newsletter, and foster consistent social media interaction.
Your business can and will grow through referrals, as long as you develop and follow the proper systems and strategies.
To master lead follow up and lead conversion, you’ll need the right CRM (Client Relationship Management) and transaction management systems. Top Producer is a great transaction management system, as well as a great CRM.
The most important thing about lead generation and lead follow up is CONSISTENCY. The fortune, as they say, is in the follow up!