10 Real Estate Lead Generation Ideas, Strategies, and Tips

Your ability to generate leads will make or break your success in an industry filled with fierce competition and high client expectations.

Today I discuss some of our top real estate lead generation strategies to help you succeed.

This article explores:

  • Top lead generation companies you can use
  • Real estate lead generation ideas
  • Tips and common pitfalls for real estate lead generation
Written by: Deirdre Paige
Deirdre Paige

Deirdre Paige

Content Writer

Deirdre Paige is a content writer at Wise Pelican with nearly a decade of experience, specializing in data-driven content and social media campaigns for the real estate industry.

Published: July 19, 2024
How to get leads in real estate

First Things First: The Top Lead Generation Companies to Buy Leads

Using real estate lead generation companies is popular with agents and can provide a steady stream of potential clients.

This is a common lead generation strategy in real estate, and it allows REALTORS to buy a “warm” lead who may be interested in selling or buying a home.

While these services can be highly beneficial, it’s important to understand that buying leads does NOT guarantee a transaction.

You need to make a conscious effort to provide value to your prospects with the goal of converting them into a client.

When evaluating lead generation companies, consider the unique features, pricing, and benefits of each platform.

To help you get started, here are our top picks of lead generation companies for real estate agents:

A table showing popular services for real estate lead generation

Zillow Premier Agent

Reasons we love it:

  1. Massive reach: With 217 million unique visitors each month, your ads are seen by a large audience.
  2. Targeted advertising: You can purchase display ads in specific ZIP codes to reach your ideal clients where other marketing activities are already happening.
  3. Website is included: You are given a WordPress website.

Cons to consider:

  1. Inaccurate Zestimates: Zillow’s property valuation tool often provides misleading estimates, complicating your job.
  2. Misleading agent promotions: Non-listing agents are promoted next to listings they don’t represent, which can cause customers a lot of confusion.
  3. High subscription cost: Zillow Premiere Agent charges a referral fee from your commission which can be quite high.

Real Geeks

Reasons we love it:

  1. Automated chatbot: The add-on AI chatbot ensures quick lead response.
  2. Excellent support: Provides great training and setup assistance.
  3. Flat service rate: No surprises with their monthly flat rate.

Cons you should consider:

  1. Limited advanced customization: Options for advanced website customization are restricted.
  2. Steep learning curve: Some features and tools can be difficult to master.
  3. Inconsistent customer support response: Ticket handling can be inconsistent; sometimes, you will get an almost instant response, and other times you can be left on hold for over a week.

Market Leader

Reasons we love it:

  1. Reliable lead flow: Get a steady number of leads every month.
  2. Automated marketing: You can save time with marketing automation and conversion tracking.
  3. Team-friendly tools: They offer advanced lead sorting and tracking, which is perfect for team collaboration.

Cons you should consider:

  1. Uncontrolled lead quality: There’s no way to ensure the quality of the leads you receive.
  2. Difficult to cancel: Document management is not provided.
  3. IDX website not included: Lead generating IDX website isn’t included in all products.

BoomTown

Reasons we love it:

  1. Lead prioritization: Highlights leads based on users’ search activity.
  2. Detailed analytics: Monitors buyer and seller behavior on your website.
  3. Mobile-friendly: Access the full CRM suite via the BoomTown Now mobile app.

Cons you should consider:

  1. Limited phone support: Customer support isn’t readily available by phone, making response times slower due to email communication.
  2. Cluttered system: Junk and spam leads can’t be fully deleted, making the system feel cluttered. There’s no filter to catch spam or fake leads.
  3. Tricky mobile app: The mobile app isn’t as easy to use as the full site.

Zurple

Reasons we love it:

  1. Smart automated engagement: The AI-driven text and email campaigns engage leads and prompt responses, making it feel like you have a personal assistant.
  2. Efficient lead nurturing: Zurple handles the initial outreach and nurturing, letting you focus on converting leads when they show interest.
  3. Great customer support: You will speak to real people who provide outstanding service.

Cons you should consider:

  1. Repetitive messages: Prospects receive the same email messages repeatedly, which can be annoying.
  2. Shared contacts: Your contacts might be shared with other Zurple agents, leading to confusion.
  3. Data exporting issues: Exporting data is not as easy as it should be.

SmartZip

Reasons we love it:

  1. Data first platform: SmartZip uses machine learning to process large amounts of data to provide you the most qualified leads.
  2. Branded landing pages: SmartZip creates landing pages designed to reflect your brand.
  3. Custom ads and campaigns: They run personalized advertising campaigns.

Cons you should consider:

  1. Unclear pricing: Pricing details are not transparent.
  2. Long lead nurturing period: Leads can require an even longer than average nurturing period.
  3. Exclusive leads: Does not promise exclusive leads.

10 Real Estate Lead Generation Techniques and How to Implement Them

According to a report by the National Association of REALTORS®, 36% of real estate agents find lead generation to be the most challenging part of their jobs.

The reality is, all real estate lead generation strategies work. Most REALTORS just don’t put in the time and effort required to see real results. Below we’ve listed the most common real estate lead generation strategies and how to make them work for you!

1. Getting the most out of your Sphere of Influence (SOI)

“Sphere of influence this, sphere of influence that…”

A term REALTORS hear all too often (I know).

Yet, very few real estate agents take the time to build an effective strategy around their sphere of influence. When in reality, your SOI should be one of the first places you start marketing.

“It takes 7-8x more time, energy, and money to get new clients, than it does to get more business or referrals from your current clients.”

Tom Ferry

 

If you’re wondering how to market yourself as a real estate agent, your SOI is the perfect starting point. Building strong relationships with past clients, friends, and acquaintances makes it easier to generate referrals and grow your business naturally.

Here are the key points to help you get the most out of your SOI:

  1. Create and maintain a database, whether in your CRM or a simple spreadsheet. Doing this will allow you to track interactions and build long-term relationships.
  2. Note down important dates of your sphere that will act as a future touchpoint (birthdays, wedding anniversaries, etc).
  3. Regularly connect with your SOI. Consider checking in bi-weekly or monthly to maintain a good relationship.
  4. Create automated and consistent marketing campaigns for your SOI that are subtle and not too “salesy”. We find that direct mail marketing and email marketing work best for this.
  5. When you do get a lead from your SOI, ensure that you provide immense value. The ideal outcome is that your lead will happily provide referrals and use your services.
  6. Don’t be scared to ask for referrals.
  7. Identify opportunities to grow your sphere of influence; whether it’s joining a local club or becoming a regular at your local Starbucks.
  8. Create a list of scripts that you can use during all your interactions with your SOI. You’ll find this to be very helpful when growing and expanding your database.
  9. Develop a step-by-step process to guide you and your team on when to contact your SOI, what information to share, how you can provide value, and how to effectively stay top of mind within your sphere.

If you plan out an effective and targeted strategy, your SOI will become one of the most cost effective real estate lead generation strategies.

When done correctly, you can expect to see quick wins and high interest from your SOI. It’s quite common for my team to start generating leads within the first 1 – 3 months of intently targeting their SOI.

2. Incorporate Direct Mail Into Your Marketing Strategy

Direct mail offers a tangible, personal touch that digital methods can’t replicate. Real estate direct mail reaches clients who may not be as active online and provides a physical reminder of your services.

According to the Data & Marketing Association, direct mail boasts a 4.4% response rate compared to email’s average of 0.12%. In addition it is known for its high ROI over an extended period of time.

Think about it, if a homeowner sees your brand and successful reputation repeatedly over a course of 12 months, who would be the first person they call when they are thinking of selling?

You of course!

Even better, with the technology we have today, REALTORS can create a 12 month direct mail campaign within 1 hour and let their marketing run on autopilot.

Things to keep in mind when implementing:

  • Target audience: Keep your mailing list accurate to reach the right people.
  • Design and messaging: Use high-quality design and clear messaging that resonates.
  • Call to action: Have a strong, clear call to action.
  • Consistency: Send 1 mailer every single month.
  • Tracking: Use QR codes or special landing pages to track your results.

In terms of results, real estate leads from direct mail typically take six to twelve months to develop. While direct mail can occasionally bring quick wins, the real payoff comes from a long-term, strategic approach.
Building brand recognition and trust requires persistence and patience, but over time, it yields significant value.

Set And Forget Your Direct Mail Campaigns

We’ve been doing direct mail since 2016 and our expertise in the real estate industry has helped thousands of REALTORS see actual results with their direct mail campaigns.

Use Wise Pelican for a turnkey direct mail experience and see the results for yourself.

Create A Free Account Today

3. Incorporate Paid Advertising To Generate Real Estate Leads

Paid advertising can be quite costly and might not be the best strategy for brand-new agents (unless you have a marketing background).

This method is often used by established teams and experienced solo agents who have the budget and know-how to manage and optimize ad campaigns effectively.

Why paid ads work:

Paid ads allow you to target specific demographics and reach a wider audience quickly.

Platforms like Google Ads and Facebook Ads enable precise targeting based on location, interests, and behaviors.

According to the American Economic Association, businesses make an average of $2 in revenue for every $1 spent on Google Ads, proving that this investment can be very rewarding.

How to start with paid ads:

  1. Decide who you want to reach to make sure your ads hit the right people.
  2. Choose a budget that won’t strain your finances. Start small and adjust based on results.
  3. Design attention-grabbing ads with high-quality images and strong calls to action.
  4. Use analytics to monitor effectiveness and adjust your strategy. Free tools like Meta Business Suite and Google Analytics are great for this.

The time it takes to see leads:

You can expect to start seeing leads relatively quickly. However, the quality of the leads can vary significantly.

It’s common to find “cold” leads with very low intention to purchase or sell their property. When this happens you might want to rethink your targeting strategy and create a more specific and smaller segment of people.

For paid ads to work, you have to be following up minutes after receiving a lead—ideally within 5 minutes. By doing this you significantly increase your chances to convert a lead.

4. Incorporate Open Houses Into Your Marketing Strategy

Open houses can have a significant impact on your real estate career.

The biggest benefit of an open house is that you get the opportunity to meet serious buyers. With the right scripts and follow up strategies you can easily incorporate these folks within your lead nurture system and turn them into clients.

More reason why we like open houses include:

  • Open houses give buyers the chance to experience a property in a way that photos just can’t.
  • When buyers walk through the home, they imagine themselves living there. This experience often seals the deal.
  • Open houses also allow for personal interactions with potential buyers. Allowing you to provide immediate value to your clients.
  • People who attend open houses are usually serious about buying. This means less time spent on casual lookers.

To ensure a successful open house you’ll need to put in some effort, but the results are worth it. Here’s an overview of how to get started:

  1. Start with a thorough cleaning and staging of the property. This can usually be done in a day.
  2. Promote your open house through paid ads, open house direct mailers, and social media. Remember to plan and execute your marketing efforts ahead of time to attract a good crowd.
  3. On the day of the open house, spend a few hours engaging with visitors and addressing their questions.
  4. Afterward, follow up with attendees to maintain interest and convert leads into clients.
Prepare scripts for your open house and be attentive to prospects who might be most interested in the property.

Most open house attendees will have high intent to purchase a house. A well thought out follow up strategy could potentially secure a sale within the first few months.

Add brochures at your open house to leave a lasting impression

5. Client Testimonials and Reviews

I’ve seen how client testimonials can generate real estate leads and build trust. Positive feedback from satisfied clients provides social proof and influences new clients.

We often get new inquiries due to positive reviews and general referrals. Small gestures, like thoughtful real estate agent thank-you gifts, can further enhance your client relationships and make them more likely to leave glowing testimonials.

Gathering testimonials is pretty straightforward. After closing a deal, ask for feedback and send a thank you note with a review link to Google My Business and Zillow.

Expert tip:

Send a video of yourself congratulating the homeowner on moving into their new property (or selling). During the video, you simply ask them to leave a positive review. This human interaction increases the likelihood of clients leaving a positive review.

By displaying your testimonials strategically you can maximize their impact. Popular ways to promote testimonials include:

  • Your website
  • Direct mail postcards
  • PPC landing pages
  • Social media

Use your positive reviews during conversation (when the moment calls for it) to highlight how you’ve helped other families find and buy their perfect home.

6. Google My Business

Google My Business (GMB) is essentially a must. It’s one of the easiest steps you can take to get yourself in front of your local audience; and it’s free!

It’s like having a storefront on the busiest street in town but without the rent!

GMB helps manage your online presence across Google. This includes Search and Maps. This makes it easy for potential clients to find and connect with you.

You can display your contact details, hours of operation, and links to your website and social media. It’s like handing out a business card that never gets lost in a drawer!

Posting regularly helps with your SEO; that means you have a better chance of being seen when someone is looking for an agent in your city!

How to optimize your GMB profile:

  1. You start by filling out all the information fields accurately.
  2. Make sure your business name, address, phone number, and website are correct.
  3. Upload professional photos of your properties, team, and office to give potential clients a good first impression.
  4. Encourage your happy clients to leave reviews and take the time to respond to them.
  5. Keep your profile lively by posting updates, sharing news, announcing open houses, and providing other relevant information regularly.
The easiest way to rank in the top for local searches is to generate as many positive reviews as possible. Be active in responding to your reviews and post regularly about your success and activities.

7. Property Management Services

Adding property management to your real estate services can really boost your industry knowledge.

It opens up new lead generation avenues and provides a steady income stream. Many agents have ventured into property management and found it incredibly rewarding.

Managing properties for investors and landlords helps create connections that often lead to more sales and referrals. You become the problem solver for property owners. This keeps you in their network when they or their friends are ready to buy or sell.

We all know the market can be unpredictable, but the steady management fees can help balance out our industry’s highs and lows and might even lead to a few referrals.

A property manager’s duties include tenant screening, maintenance coordination, rent collection, and financial reporting. To attract investors and landlords, you should use targeted marketing, such as email campaigns, social media, and property management postcards.

8. Client Appreciation Events

Hosting client appreciation events is a fun way to connect with current clients and find new leads.

These events show your clients that you value not only their business but you appreciate them. This can lead to referrals and repeat transactions.

Examples of client events:

  1. Holiday parties: Celebrate the season with a festive gathering, complete with food, drinks, and entertainment.
  2. Community picnics: Host a casual outdoor event with activities for families, making it easy for clients to bring guests.
  3. Client appreciation dinners: Organize a formal dinner at a local restaurant to show your appreciation in an elegant setting.
  4. Workshops and seminars: Offer educational events on topics like home maintenance, investment strategies, or market trends.

Creative and thoughtful gestures during these events, inspired by real estate pop by ideas, can leave a lasting impression.

For instance, small, meaningful giveaways such as local specialty items or themed gifts tailored to the event can enhance the experience and deepen connections.

Whenever you host an event be sure to connect your clients with each other. This is an effortless way to provide more value to your clients by connecting them with fellow neighbors.

9. Geo-Farming

Geographic farming, or geo-farming, is a targeted marketing strategy that focuses on a specific neighborhood or area that establishes you as a local real estate expert.

With consistent marketing efforts in this area, you can build a strong presence and generate a steady stream of leads.

When you focus on a specific area, you get to know the local market, trends, and community inside and out.

This familiarity helps you become a familiar face in the neighborhood.

Consistent marketing efforts in this area ensure people start to recognize your name and brand. They see your signs, receive your mailers, and notice your presence.

Regular communication and your presence in the neighborhood ensure that residents think of you first when they’re ready to buy or sell.

How to implement Geo-Farming:

  1. Choose your farm area: Select a neighborhood or area with a high turnover rate and sufficient market activity to ensure a good return on your investment.
  2. Direct mail campaigns: Use postcards, flyers, and newsletters to regularly reach out to residents with valuable information about the market, your services, and recent sales.
  3. Local events: Sponsor or participate in community events to increase your visibility and engage with residents personally.
  4. Digital marketing: Use targeted online ads and social media campaigns focused on your farm to complement your offline efforts.
  5. Door-knocking: Go door-to-door to introduce yourself, offer market insights, and provide your contact information.

Best practices for Geo-Farming:

Make sure your marketing materials consistently feature your logo, colors, and messaging.

Share useful content, like market updates, home maintenance tips, and community news, to keep residents engaged and informed.

Monitor your results and be ready to tweak your strategy based on how people respond.

Infographic for campaign ROI by medium showcasing direct mail as highest ROI for real estate lead generation

Curious about your potential returns? Try our ROI calculator to see how consistent marketing could benefit your business

Calculate Your Direct Mail ROI

10. Text Message Campaigns

At first, I was a little skeptical about using text message campaigns for lead generation. But, I quickly discovered their effectiveness and direct impact.

It’s a straightforward way to reach potential clients and keep them informed about new listings and open houses.

Text messages have significantly higher open rates than emails, which means your message is more likely to be seen.

Recipients are likely to read and respond quickly, leading to faster interactions.

Personalized text messages can also create a more intimate connection with potential clients. It’s a straightforward way to reach potential clients and keep them informed about new listings and open houses.

Best Practices for Text Message Campaigns

  • Use a reliable platform: Choose a text messaging platform that allows you to schedule, automate, and personalize your messages. Companies like EZ Texting and TextMagic offer services tailored for real estate professionals.
  • Get permission: Always obtain explicit consent from recipients before adding them to your text message list.
  • Be concise: Keep your messages brief and to the point, ensuring the main message is clear.
  • Include a call to action: Encourage recipients to take the next step, whether it’s visiting a property, replying to the message, or scheduling an appointment.
  • Respect privacy: Avoid sending messages too frequently and respect recipients’ wishes if they opt out of your campaign.

Integration with CRMs:
Many Customer Relationship Management (CRM) systems offer text message integration, making it easier to manage and automate your campaigns.

Popular CRMs like HubSpot, Follow Up Boss, and LionDesk offer text messaging features. This makes it easy for you to streamline communication and maintain a centralized database of your client interactions.

Real Estate Lead Generation Tips and Common Pitfalls to Avoid

 

The do's and dont's of real estate lead generation

 

4 Bonus Tips to See More Success with Real Estate Lead Generation

1. Provide more value than your competitors in any way possible.

Helping clients see your true value is important in real estate. Here are a few simple ways you can start providing more value:

  1. Start by offering outstanding customer service. Be responsive and proactive. Always take the time to explain different home buying/selling processes to your client.
  2. Use high-quality marketing materials like professional photos and virtual tours.
  3. Offer free home valuations to demonstrate your expertise.
  4. Provide staging tips or partner with a professional stager.
  5. Keep clients updated on the buying or selling process and market conditions by creating and sharing educational content like blog posts and videos.
  6. Get involved in your community by attending local events.

2. Have an elevator pitch.

An elevator pitch is a concise and persuasive speech that can spark interest in your real estate services.

This is a smart strategy for networking events, open houses, and casual encounters where you have a short time to make a strong impression.

A clear and compelling pitch grabs attention quickly, sparking the listener’s interest in just a few seconds.

Your elevator pitch needs to communicate your value clearly, what you offer, and why it’s beneficial.

A strong pitch opens doors that lead to further conversations and potential business opportunities.

Example of an elevator pitch

“Hi, I’m [Your Name], a real estate agent with [Your Company]. I specialize in helping first-time homebuyers find their dream homes in [Your area]. I am very familiar with [Your area] and make the buying process easy and stress-free. If you or someone you know is looking to buy or sell, I’d love to help!”

3. Have a script for every single situation.

Having a script for every situation means you’re always ready to communicate effectively and professionally with potential clients.

This is helpful for making cold calls, following up on leads, or meeting new contacts. A well-prepared script can help you stay confident and focused.

Example scripts

  • Cold call script: “Hi, this is [Your Name] with [Your Company]. I hope you’re doing well. I’m reaching out because I noticed that you’re interested in buying a home in [Your Area]. I specialize in helping buyers find their perfect home here. I’d love to discuss how I can assist you. Do you have a few minutes to chat?”
  • Follow-up script: “Hi [Client’s Name], this is [Your Name] from [Your Company]. We spoke a few days ago about your interest in selling your home. I wanted to follow up and see if you have any questions or if there’s anything else I can do to help you. I’m here to make the selling process as smooth as possible for you.”
  • Open house script: “Welcome! My name is [Your Name], and I’m with [Your Company]. Feel free to look around, and if you have any questions about the property or the neighborhood, I’m here to help. Can I provide you with any additional information?”

4. Attend networking events regularly

Regularly attending networking events is a great way to connect with potential clients and industry professionals.

I remember attending my first networking event, feeling a bit out of place, but it quickly became clear how valuable these connections could be.

I set clear goals for what I wanted to achieve, brought plenty of business cards, and engaged in genuine conversations.

Listening actively and following up with the contacts I made helped nurture those new connections.

Networking events are now a regular part of my routine. This is a fun, effective way to create new leads and expand your SOI.

Real Estate Lead Generation Pitfalls to Avoid

1. Not allowing enough time for your lead generation strategy to take effect.

Lead generation for REALTORS takes time, and expecting immediate results can lead to frustration and disappointment. Patience and consistency are key. Give your strategies time to build momentum and start showing results.

For example, direct mail campaigns, like sending postcards and flyers, create awareness and interest over time.

Recipients may need multiple exposures to your message before responding, so consistent mailing is essential.

Similarly, social media engagement involves growing a following and interacting with potential clients. This is a gradual process that demands regular posting and interaction to build relationships and trust. Both strategies require time and sustained effort to yield significant results.

2. Putting all your eggs into one basket

Relying solely on one lead generation method can be risky.

Use more than one strategy to ensure a steady stream of leads from various sources.

This approach also helps you identify which methods work best for your business.

3. Not tracking the effectiveness of your real estate lead generation efforts

Without tracking your lead generation efforts, you won’t know what’s working and what’s not.

Use analytics and metrics to monitor your campaigns, adjust your strategies, and focus on the methods that give you the best results.

4. Not investing enough time to learn and improve the required skills

Lead generation in real estate requires a diverse set of skills, including marketing, communication, and negotiation.

Continuously investing time in learning and improving these skills is required to stay competitive and effective in generating leads.

Improving communication skills might include attending workshops on active listening, persuasive speaking, and client relationship management.

Sharpening negotiation skills can involve studying negotiation tactics, participating in role-playing exercises, and learning how to handle objections effectively.

5. Not putting in the effort required to see real results.

Lead generation is not a one-time effort but an ongoing process. Consistent effort, regular follow-ups, and adapting to changes in the market are essential to maintaining a steady flow of leads and achieving long-term success.

Bottom Line

Lead generation for real estate agents does not have to be difficult.

Implementing a variety of strategies and consistently providing value allows you to attract and convert more leads.

Whether it’s through building a strong sphere of influence, using paid advertising, hosting open houses, or engaging in regular networking, each approach plays a vital role in growing your client base.

Partner with Wise Pelican today and start implementing these strategies to significantly boost your lead

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