How to Spend Zero Dollar to Generate Leads in Real Estate Business
Let’s faced it. Everyone of us in business would love NOT to spend money in advertising and generating leads. Money used in advertising can be used in other part of business expense where you are in more control and with better outcome. In this day and age, is it still possible not to spend money and generate leads? Let’s explore how we can do it……
In real estate business, the traditional word-of-mouth method of getting business and referrals is still the best way of getting more business. How do you go about creating a brand name for yourself and generating more leads? One of the answers is by re-connecting with all your known acquaintances, past and present clients, family and friends. How do you go about re-connecting with them?
The first thing you need to do is to gather all your contacts and list them down in a spreadsheet. If you have a CRM app, input them into the database. This list can be made up of your old school mates, college-mates, people whom you’ve not spoken to for a very long time. If you were in the corporate world before you joined the real estate industry, list down all you contacts that you know and who are still in Singapore. It can also consist of those past clients whom didn’t transact with you, those who changed their priorities and those whom you transacted with before. Perhaps, now is the time you revisit them and it could be a time they cash out. No matter what the situation is, as Long as you know them, if you have interacted with them before, they should be in the list of your contacts. Classify them as your potential clients.
Create a few columns on the spreadsheet or a few new fields if you’re using a CRM. Indicate whether is a rental case, resale or first-timer. Leave a column for writing your notes on the conversations you’ve had with your contacts. Specify the date and time and note down the things you talked about, location and so on. Write down notes that can help you recall your discussion when you meet again in future.
Here is now the interesting part. Go through your list and start typing out a short, simple message like, “Hi Stanley, how are you? How is everything going for you?” Do not mass-message, it needs to be personalised with their name mentioned. Select five names and contacts, send out the message and wait for their reply.
If they don’t reply, move to the next contact. When they reply, its a good sign. Then, you can follow-up with additional messages mentioning the last communication you’ve had and how it has been ever since.
An important note when you’re keeping in touch this manner…… do not try to sell your product and services. It will come naturally as you continue on with the conversation. Even then, still no selling..You need to be sharing. This is an important distinction.
In order for you to be sharing, you need to know your 4Ps. They are your products, process, presentation and prospecting. I shall cover more about the 4Ps in my future videos. For you to be effective in following up with your past contacts, the 4Ps are important. You need to know them well.
So, if you’re looking for a way to generate leads without having to spend lots of money, quickly gather all your past and present contacts and start communicating with them.
Do this Everyday, spend and hour or so each day. Don’t get emotional. Think of it like you’re a machine, just generating messages. If no reply, then just move on to the next. Once you’ve reached to the end of the list, go back to the top of the list again, continue the conversation and keep taking notes.
If you keep trying to do this everyday, you’ll see a big difference in your career. You need to build your network and make appointments everyday.
If you want to know more about how we are able to help you grow your business in the real estate industry, get in touch with us and have a chat. No worries, there’s no obligation to sign up with us. We just want to share and at the same time, give you an opportunity to ask us any questions you may have.
Just a special mention to Karen Neo, a fellow powerful negotiator group member, who has kindly shared some of the materials I talked about earlier. The culture of sharing and exchanging of ideas is so rampant here in PropNex and Powerful Negotiators Group. My only wish is if you could only get to experience it.
Let me know what you think about this approach to generate leads without burning a hole in your pocket. Share with us what you think is hindering your progress in your real estate business and give me your comments below.
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With that, I wish you all the best and success in your career path as a real estate salesperson. Talk to you again in our next blog post.