Try This 6-Step Lead Generation Strategy for a Shaky Market
Are you wilting in a market meltdown?
If you’re a real estate agent, there is a good chance that a daisy chain of financial disaster–collapsing housing bubble, wave of sub prime defaults, frozen corporate credit markets–has become your worst nightmare.
In your head, you may think it’s about time to panic.
Maybe sell the boat. Get a second job (if you haven’t already). Something to stop the bleeding and make ends meet.
What follows is a strategy that I think can have a phenomenal impact on your business in both the short-term and long-term.
You Can Succeed in Turbulent Times
In the short term it will bring in interested leads. In the long run, a listing or two a month, once it’s picked up some steam.
You probably won’t have to wait that long for it to pick up steam.
I’ve seen this strategy work wonders for agents in two months. In fact, one agent gets 2-5% response each time he follows one step of this strategy.
What is it?
It’s an optimum follow-up plan for renters–buyers who are in a perfect position to take advantage of the amazing housing opportunity before them.
This strategy is simple: Lure prospects in with a free educational report. After that, you’re going to follow up with a series of provocative and proven postcards and letters to convert leads into house buyers.
The Fundamentals of This Automatic Strategy
When promoting the free educational report, you’re mailings will alternate every month. One month you’ll send an article. The next month you’ll send a letter. This goes on for six months.
The articles and letters you send will explain to renters different ways they could own a home for less than it costs them to rent a home. But these aren’t just any articles and letters.
The key is personalization.
First, tear the left edge of the article, then photocopy it. After you have all of your copies, write “Mr. Smith, I thought you might like this. Gary” on the top in a blue felt pen.
This sort of personalization is a proven method for boosting your response rates.
The letters are fine-tuned tools to effectively attract attention, create interest, provoke desire and get action.
The 3 Approaches You Could Take
Now, because of the number of leads you can generate through this approach, your follow up is crucial. There are 3 approaches you could take to follow up.
- Mail the follow up series and wait for phone calls.
- Limit the number of mailers you send so you can personally call each.
- Enlist the help of a lending agent, affiliate or telemarketer.
Each approach, of course, has its drawbacks. The ultimate scenario occurs when you have a hungry lender. However, no matter which approach you choose, consistency is key.
Here’s how the optimum plan looks for following up with these renter leads.
Six Automatic Steps to Eager-to-Buy Clients
When the prospect calls for the report, confirm their address and take the steps toward building a relationship.
Three days after you mail the report, call each prospect to make sure they got the report. At the same time, offer something free: a list of new homes for sale or a referral for a pre-qualification. Build value. You’re trying to reduce the barrier between you and your prospect.
For those who didn’t convert on the free educational report, mail the first letter. For those who didn’t convert on letter 1, mail letter 2. For those who didn’t convert on letter 2, mail letter 3. And so on until the six month.
Crucial Attitude You Must Have with Each Follow-Up Call
First, with each phone call, seek to understand your prospect. If they are being defensive, figure out why.
Second, never shoot for the jugular. Use soft language, non-committal language. Be patient.
Your goal is to get them to accept an offer for weekly home listing updates. Once you’ve got this, you can stop mailing them.
After Step 4, the Strategy Adjusts to Strong then Stronger
Three days after you’ve mailed Letter 4, you’re goal is simply to stay in touch. Let the system work. Eventually the time will be right.
However, three days after you mail letter 6, you may want to try a sharper angle.
At this point they’ve gotten several free things from you. Ask for some kind of reciprocity–whether it’s a promise to stay in touch or just a casual commitment to receive weekly updates.
If they are still cold, simply mail them every three months.
Here’s How to Take This to a Deeper Level
If you’d like to learn more about this strategy, I’ve fleshed it out in a 22-page comprehensive report called “How to Target Renters and Get Them to Respond.”
This quick and easy report is free of charge.
In fact, along with the report, you’ll also get access to a video detailing how I used Craigslist to generate 147 leads in 39 days with one listing and a interview with a real estate trainer who coaches 6 of Wall Street’s top 50 agents.
Get instant access to this report right now. Download the “How to Target Renters and Get Them to Respond” report.
And if you have any questions about real estate or current market conditions, please take a few moments to enter your question in the comment box below. My goal is to provide you with some of the best marketing tips, tools and ideas to making money in real estate, but I can’t answer questions that aren’t asked.