You’ve probably heard that “it takes money to make money.” That’s definitely true, but for your business to grow you need to invest that money and leverage results from it in the form of real estate leads – and in today’s interview, we’re going to discuss how to how to effectively invest your money in essential real estate lead generation channels.
Your time and effort is a huge part of that investment as well. In the video below, Toby Salgado of Super Agents Live, talks to Daniel Ramsey co-founder and owner of MyOutDesk about cost and quality when it comes to your Real Estate leads. Schedule your Double My Business Strategy Session today and find out how a MyOutDesk Virtual Assistant can support you to boost your business.
Toby suggests applying asset management or the portfolio theory to your business. You need to take a look at your sales model and make sure that your funnel is not lopsided. Meaning that you don’t want to focus on one channel or put all your eggs in one basket. What you want to achieve is balance.
For example, having a balance between three major markets, Luxury, mid-market and entry market, if you expend equal amounts of money and time on each branch, ideally, regardless of the trends and climate of the Real Estate industry, your business will not suffer, because you have been putting forth equal time and money investments in each one. Your Real Estate Leads should be treated the same way.
He also states that there are two major components in any Real Estate business. Lead generation and time management. First you figure out your sources for leads, and once you find them, you then need to figure out how to manage your time to convert those leads into clients.
According to Toby, an important step might be to categorize your leads in order to strike that balance.
5 Types Of Real Estate Leads
- Offline Leads: This includes contacts you make at tradeshows, open houses, school events, at Starbucks, and around town.
- Online leads: Leads that you generate through your website, social media, blogging, and other online mediums.
- Free Leads: These are leads that are given to you, perhaps by your broker, or seller leads that come from past buyers.
- Paid Leads: Leads that you purchase from Zillow, Trulia, or other pay-per-lead sources on the internet.
- Referrals: Leads that you generate through word of mouth, as referrals from satisfied customers & through your personal network.
If you find that in your market or area, that you have more categories or sources Toby suggests that you have at least five and no more than nine or ten. Regardless of the category, you are always paying for your leads; you are either paying for them or working for them. Now the key here is to look at your lead sources and their value, and figuring out which ones you need to invest your money in and which ones you need to invest more of your time.
A MyOutDesk real estate virtual assistant can be a huge asset to you and your business in 3 major areas: Marketing, Administration and Prospecting. Contact us today for your free, no-obligation consultation and find out how we can help you! Schedule your Double My Business Strategy Session today!