Generating leads is a crucial part of being a real estate agent. It’s pretty hard to sell a house to someone that isn’t looking to buy.
From passing out flyers to buying ad space on a bus bench, realtors have been known to go to great lengths to get their name out there. However, you don’t need to overcomplicate things. Some leads can be generated simply with the help of an online rental application and instant screening report.
For those looking for easier, cheaper ways in which to create leads, here are a few effective tips.
Tip No. 1: Represent Rental Properties
Before you turn away in disgust, hear us out. With the rising prominence of online rental applications and instant screening reports, rentals have become much easier to represent.
Additionally, while it might not be the best way to generate income, representing a rental can give you access to future leads. If you please a customer when settling them into a rental, they will more than likely go to you when they move out and look to buy. As the saying goes, today’s renters are tomorrow’s buyers.
While this may not happen immediately, representing first-time buyers can have a lasting impact and it can be the start of a long-term relationship with a client. Creating relationships like this are important if you are plan to be an agent for the long haul.
In addition, if you become familiar with a certain complex, you can hold promotional events there. Apartment complexes are lead goldmines, with most tenants being temporary.
Getting to know apartment complex application coordinators is a great way to initiate the relationship.
Tip No. 2: Create Relationships With Landlords/Property Management Groups
In addition to apartment complexes, relationships with landlords and property management groups are another great source for future first-time buyers.
Because of the temporary nature of rental properties, landlords often deal with their tenants moving out to become buyers.
If you refer good renters to these landlords using an online rental application, they may return the favor by referring their ex-tenants to you when they are move out.
However, it is important that you give them good tenants. In order to do so, you should have a rigorous screening report that has comprehensive information about your tenants’ financial and criminal history.
Once you have a good reputation as someone who provides good renters, you can establish relationships with multiple landlords and property management groups, eliminating the need for any other lead sources. However, just like tip No. 1, this is a more long-term focused tip.
Tip No. 3: Cherish the Leads From Your Broker
If you want a more short-term lead solution, you don’t have to look any further than your broker. Most brokerages have a list of leads they distribute among their agents. However, it is important that you don’t slack on these leads, because they will be reluctant to give you future leads if your track record suggests you’ve had a hard time closing in the past.
The best leads go to the best agents. With that in mind, you should cherish the leads you receive and take them very seriously.
In conclusion, the best way to generate steady leads (especially when starting out) is to not shy away from rental properties. Apart from putting money in your pocket quickly, the rental process is now easier than ever with the advent of online rental applications and screening reports.