Category: Agent

Online Leads or Nothing

by HOMEiZ Blog Team Posted: 08/25/2016 Views: 924

As the real estate industry changes and more and more potential buyers and sellers are spending their time online, the need for the real estate agents to know how to convert leads is more important than ever. The online leads question is one of the most contested amongst real estate agents today. Many real estate agents subscribing to “lead-generation” services represent the lion’s share of many online company’s revenues. So what is the truth behind online leads? After reading so many blogs on this subject and reading many of the comments real estate agents posted on blogs, online leads is becoming more and more necessary and the way to sell more real estate.

Buyers leads


What’s interesting is that as the industry as a whole evolves, the more it actually stays the same. Real estate is still a people business that thrives on relationships and that will never change. Many buyers will choose the internet as their first choice to search for a property they wish to buy/rent before contacting a real estate agent. Once the potential buyer finds the property, he/she will search for an agent to represent him/her for the transaction. The smart buyers know that each side of the transaction should have its own agent to represent him/her from many good reasons and that is the smart way to go. But the real question many real estate agents have is: How do we get consumers to reply to us so we can create a conversation? it sounds crazy, but believe it or not, some people don’t want to talk to an agent especially Millennials. It doesn’t make much sense, since they inquired about a property or something similar, but it’s true. The trick is to ask for a meeting ASAP. Continuing trading emails will not get you to convert the lead. You must tell them they get a free advice from a professional and they should take advantage on it. Those who are serious in buying or selling will want to meet with you, but those who are not serious in meeting you, you know it is a waste of your time. It is impossible to convert every lead, so prepare yourself not to get disappointed.

Real estate agents need Affordable Online Leads


Online leads are the new way to flourish many businesses around the world, but they should be understood how to be converted. HOMEiZ have heard many testimonials from top agents who successfully were able to convert online leads. It is necessary for real estate agents to buy online leads/advertising but they must be affordable and carefully chosen. Real estate agents need to have an online present for their names to be out there, but in the same time we need to give to all agents the same opportunity to have their names online. Making online leads affordable and giving the freedom to choose the leads are the way to go.

Long Term Contract


Real estate agents should not sign any long term commitments when purchasing online leads. Real estate business is fluctuating and many agents can go months without closing an escrow, so committing yourself to long term contracts is not the smart way to go. Many websites out there usually require the agent when purchasing online leads, to sign a contract for a minimum of six (6) months period. The prices for the leads are vary from each zip code and are not cheap at all. With a six-month commitment, you can easily spend thousands of dollars until you will get a lead or two if any. However, the payoff if you can convert just 2-3 leads from them will pay for itself and leave you with a profit, but here you are gambling on your money.

Non-Featured Vs Featured Listing


Listing agents are expecting to get the leads on their own listings they worked very hard to win them. But the reality is different. Many Websites out there will have a free add a listing for listings which are “non-Featured”. This means, if a listing agent doesn’t pay for a Featured listing on those websites, then these websites will sell advertising space by adding additional agents to the listing. This is an unethical act since it is using the listing data of hard working agents to win a listing for gaining a profit. It creates confusions with many consumers by not knowing who is the listing agent. This business model leaves thousands of real estate agents frustrated. If the listing is Featured, then no advertising space is sold, but it gets very expensive to post a Featured listing on those websites. HOMEiZ thinks, it must be the agent`s decision to choose from non-Featured to a Featured listing. Real estate agents should not be punished for not choosing to pay the website for a Featured listing.

Conclusion and recommendation


Online leads are the new way to have more business coming your way and it is almost a must nowadays of doing business. As many other industries using the online leads to get more business, also real estate agents should do the same. Millions of businesses owners are using the internet for their business in many other different industries around the world and many find it the way to go. Millennials are entering the business sectors all over the world and this generation is using the internet as their way of life more than any other generation before. Purchasing online leads is a must for your real estate business future, but you should not go for the long term commitments and must be very careful spending your money. Spend your money wisely on those websites who give you the freedom to choose the leads you want to purchase and not forcing you to purchase leads by requiring you to sign a long term contract.

By HOMEiZ Blog Team

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