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Lead Generation: Are Paid Leads Worth It?

It is likely that you have a few lead-generation methods that you trust and that work well for you as a real estate agent. However, what about the purchase of real estate leads? This a million-dollar question for the majority of new agents in the industry.

Currently, there is a great deal of discussion about this topic in the real estate industry. Online lead generation programs are considered by some to be too costly and time-consuming. Other individuals argue that such programs are an excellent way to generate qualified leads, which makes them an excellent investment. What exactly is going on here?

How Does Buying Real Estate Leads Work?

According to a recent report, 41% of sellers found their agent through a referral, and 23% used the same agent they had previously used to purchase or sell a home. This indicates that 64% of transactions were repeat or referral deals, while 36% of transactions were derived from other sources, such as direct mail, door knocking, cold calling, and online leads. Nonetheless, some of the most successful real estate agents continue to purchase real estate leads in order to generate leads. There are three main reasons for this:

Obtain a steady stream of clients

The most important benefit of purchasing real estate leads is that it is the most effective way to find new clients on a regular basis. A real estate agent will have an abundance of leads to convert into clients when he or she generates leads online alongside referrals and other methods of finding leads. In addition, you will have a greater chance of scoring QUALIFIED leads who are prepared to buy.

You are ultimately responsible for determining whether paid leads convert into sales and how quickly they do so. You should provide them with whatever information they require in this regard – whether it is listings, market information, or general advice. The key is to become a reliable source that they can turn to instead of always being the ones to close the deal. A further piece of advice is to build trust immediately following the purchase of real estate leads so that they can rely on your judgment when it comes time to purchase or sell real estate.

Increase your exposure

Referrals and repeat clients will contact you when they are ready to move forward with a specific listing or to purchase a house as soon as possible. The majority of homebuyers and sellers nowadays go online to begin their home-purchasing journeys or to obtain information regarding the sale of their property. Therefore, real estate agents are virtually invisible to this large pool of potential clients without paid lead generation programs.

To increase their exposure, many real estate agents invest in paid lead generation programs. By purchasing real estate leads, you have the opportunity to contact your leads before they reach out to other agents or brokers. It is more likely that people will remain with you for all their real estate needs when you make the first contact.

A potential revenue stream that can be generated immediately

You should also consider buying real estate leads in order to create immediate action in your sales funnel. A new or returning real estate agent who has been out of the business for some time can greatly benefit from this service. You will most likely benefit from paid leads if you do not have a local sphere of influence, a well-established marketing strategy, or an existing database of clients. In conclusion, even though an online lead generation program will cost you, treat it as an investment and you will see that it will generate revenue for your real estate company.

The Things You Need to Know

There are several things worth mentioning that you should keep in mind before purchasing real estate leads:

Identify a quality lead source

There are many companies and websites that offer real estate agents paid leads, but not all of them are worth the cost since they provide unqualified leads. Before you spend your money on paid leads, please remember that some leads are more qualified than others and, at the end of the day, you will receive what you pay for. There will be some leads that will end up in your sales funnel and others that will not, depending on where you are purchasing them from. Don’t forget to do your research before purchasing real estate leads from a lead generation company or website.

Did you know that Mashvisor provides qualified leads to real estate agents? You read that correctly; we not only assist investors in finding the best investment properties, but agents also have a place on our platform. Using Mashvisor’s agent program, you can find investors looking for agents who are actively seeking representation. We qualify the leads if they wish to be contacted and pass their information on to you.

Ensure that your lead generation strategy is balanced

Keeping in touch with your past clients should not be a distraction from your online lead-generation efforts. There is a need for a balanced approach to lead generation, with top real estate agents using a combination of traditional and online methods. You should focus on nurturing the leads you already have (referrals and repeat customers) before purchasing real estate leads. It is important for a real estate agent to communicate with and understand his or her clients.

In addition, you should adjust the amount of time and budget you are devoting to online leads. A good way to do this is to spend the majority of your time, effort, and budget on your existing leads while maintaining a lead generation program in the background.

Conclusions

It is important to note that buying real estate leads is an investment that pays off for some agents, but not for others. Paid leads can certainly generate revenue for your business if you have the right system and strategy in place. Therefore, if you wish to become a successful real estate agent, you must stay in touch with your referrals and repeat clients, as well as check the quality of your lead generation sources before spending money on these sites.

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