In the 459th episode of the Mail Right Show, Robert Newman and Jonathan Denwood discuss practical and innovative strategies for generating many monthly real estate leads online. The episode focuses on common mistakes agents make in lead generation and provides actionable tips to improve lead management, build relationships, and convert prospects into clients. Robert Newman is the CEO of Inbound REM, an inbound marketing firm, and has worked in the real estate SEO business for over a decade. On the other hand, Jonathan Denwood is the joint founder and CEO of Mail-Right, a platform that builds WordPress websites and offers CRM and digital marketing platforms.
The Truth About Real Estate Lead Generation
If you’ve been in sales for a long time, especially if you’re an excellent salesperson, you know that you can be the best salesperson in the market. However, if the person you’re talking to is simply not ready to make the decision, then there is a high chance you won’t close a deal.
The reality of real estate lead generation is only about 2% of leads are “hot” and ready to make a decision immediately. Many agents mistakenly believe every lead generated online—such as through forms or lead magnets—will quickly become a sale. However, this is far from the truth.
Most leads require time, nurturing, and relationship-building before they are ready to buy or sell. Real Estate agents should not expect instant results from lead-generation efforts. Instead, they should focus on building long-term relationships with prospects, as real estate decisions often take months or even years to finalize.
Structuring Your CRM for Efficient Lead Management
A well-organized CRM (Customer Relationship Management) system is essential for managing leads effectively. Keeping your CRM simple and easy to use will help a lot. Unless you’re doing a lot of digital paid advertisement and have someone who’s either spending half their time or is a full-time digital advertisement online manager farming the leads to various individuals in your brokerage.
Agents should categorize leads based on their readiness to buy or sell:
- Leads likely to buy or sell within the next 3 months.
- Leads who may buy or sell within 6-12 months.
- Leads who are not likely to make a move within the next year.
- Past clients who may return for future transactions.
By organizing leads into these categories, agents can prioritize their efforts and focus more on the opportunities. Do not overcomplicate your CRM system, as simplicity often leads to better follow-up and engagement.
Building Relationships and Establishing Trust
Building strong relationships is at the heart of successful real estate agents. Agents should ask the right questions, understand their client’s needs, and position themselves as trusted advisors. Trust is earned over time through consistent communication and providing value.
Video content is highlighted as a powerful tool for building trust. By creating authentic and engaging videos, agents can showcase their expertise and personality, making it easier for prospects to connect with them on a personal level. Building trust with clients is not a one-time effort but an ongoing process that requires genuine care and attention.
Leveraging Your Sphere of Influence and Past Clients
Agents often overlook their sphere of influence and past clients, some of the most valuable sources of leads. Staying in touch with past clients and maintaining relationships with your network can lead to quicker conversions.
You may send personalized, value-packed content to your past clients, such as market updates or property reports. Tools like BombBomb allow agents to send personalized video messages and help warm these relationships. By consistently providing value, agents can stay top-of-mind and increase the likelihood of repeat business or referrals.
Converting Cold Prospects Through Genuine Outreach
Converting cold prospects requires genuine and helpful outreach. Instead of pushing for a sale, agents should focus on providing value and addressing each prospect’s specific needs. For example, sending customized reports or videos tailored to a prospect’s interests can help build trust and encourage engagement.
Combining digital and in-person strategies is highly recommended. For instance, creating content around local events or trends (like a blog post about pickleball in a specific area) and then showing up at those events to connect with the community can create a powerful impact. This approach not only builds credibility but also strengthens relationships with potential clients.
The Power of a High-Touch, Value-Packed Newsletter
A weekly or monthly newsletter can be a highly effective tool for staying connected with your audience. The key is to provide valuable content that resonates with your readers. For example, market updates, local news, or tips for buyers and sellers can keep your audience engaged.
You can create newsletters efficiently using AI tools to generate content from video recordings. By consistently delivering high-quality content, you can position yourself as a real estate agent as experts and keep your audience informed and interested.
