CRE PROS REVEAL THEIR LEAD GENERATION STRATEGIES
The enigma of a successful lead generation strategy is hard to crack. There is no one size fits all solution or an exact formula. It boils down to trial and error while continuously optimizing for best results. With an infinite amount of information out there, it can be overwhelming to know where to even start.
To help you get a better idea of what works, we reached out to professionals on Spacelist and asked them to tell us about the core aspects of their lead generation strategies.
word of mouth
This was a highly expected one. Word of mouth is still the most powerful form of marketing there is. Think about it… when was the last time you took a friend’s or colleague’s recommendation for a restaurant, product, or a show? We respond much better to personal recommendations compared to advertisements because they are genuine interactions.
Although this channel is highly effective, it is difficult to track, recreate, and scale. The key is to continuously put yourself out there and become recognizable. Join local business communities like the chamber of commerce and other organizations, stay in touch with past clients and get their testimonials to share, regularly follow up with current leads, introduce yourself to local business owners, and host networking events.
It’s not just about staying connected, but also offering value and advice, even if you don’t get anything in return. Reciprocal altruism can go a long way.
Lilly Alexoudis – Broker at Coldwell Banker Sunstar Realty
“Referrals and word of mouth.”
Irvin Hildebrand – Broker at Team 3000 Commercial
“Word of mouth, previous clients and banks.”
Hiesem Amery – Broker at CENTURY 21 Bamber Realty
“I work hard on past clients for referrals”
Lesley Carew – Realtor at Drew Petty Real Estate Group
“Providing exceptional service to general quality referrals from my past clients”
Joy Funk – Office Manager at Paramount Executive Group
“Word of mouth including local Chamber of Commerce seem to be the most effective. We also have a referral program.”
cold calling and direct email
Next best thing to referrals that come to you? Hit the phones, set-up meetings and send personalized emails. Cold-calling is evergreen and a great opportunity to make a lasting first impression. It is also a strategy that takes a lot of time, so making sure you have a strong elevator pitch and having exceptional listening skills is a must.
When sending emails, personalization and targeting is key to get their attention. Do your research to find unique information about the lead, like an article they wrote or an award they’ve received. People love feeling special and important.
Mark Allen – Vice President at Real Estate 360
“The long-lost art…working the phones!! We also punch above our weight for a boutique crew in multi-platform social media outreach. The team makes that communication is fun and interesting, and it has worked very well for us. Additionally, we make a point to discuss the type of use that we need in a certain development/space, and we quickly develop a short target list of the desired names within that category, and then we pitch them hard! Putting signs in windows and sitting back waiting for the phone to ring doesn’t work!”
Yigal Achren – Director at Keller Williams Referred Realty
“Majority of my success in selling unique real estate properties has been through targeting and cultivating relationships with property owners of the real estate I intend to sell. Prospecting is usually done through calls and emails.”
Mike Wallace – General Manager at Innovative Professional Offices
“Our core strategy is to personalize all of our communications targeted towards specific industries and markets that we are interested in. For example, we send personalized communications to commercial real estate brokers, project managers, architects, etc. and then follow up with direct phone calls.”
SOCIAL MEDIA AND ONLINE ADVERTISING
Unlike the previous two pillars of a successful lead generation strategy, advertising methods and technologies are evolving at lightning speeds. Many professionals still rely on billboards and signage for inbound leads, however, effectiveness can be difficult to quantify.
Online marketing options are limitless. For example, social media is a great “free” avenue to broaden your circle of influence. Use LinkedIn to connect with business owners or other professionals you’ve met, post regular market insights, share your closed deals and client testimonials. Although It takes time to build up a following, an engaging and active social media presence can generate strong results.
Additionally, having your own blog focusing on content that business owners and investors will find interesting can be a successful funnel. Don’t forget to collect emails and contact information through lead forms and gated content. You can then mine this list for leads and send regular newsletters.
Moreover, there are various listing platforms, some, like Spacelist have free options which provide excellent exposure for your listings. Lastly, paid advertising through Facebook, Google and LinkedIn can be effective methods. However, they require a considerable budget to test creatives and audiences, and also have a bit of a learning curve.
Marilyn Meredith – Leasing Administrator at Ari-El Enterprises
“Signage and online listing services, plus our own website.”
Geoff Spero – CEO at Servis Realty
“Working with veteran 3rd party agents, social media presence and having good buildings/space to lease.”
Matt Jacques – Broker at Royal LePage Performance Realty
“The power of networking and getting in front of people has always been key for creating lead generation. As well, I understand the value of social media and continue to use various platforms to connect, share and provide advice.”
Brandon Benitz – Broker at Century 21 Midlands
“Referrals, social media, and local sports advertising”
Tracy Albrecht – Marketing Director at Cawley Chicago
“Social media posts, blog articles, RE MLS’s, email campaigns.”
Talha Niazi – Senior Associate at Barclay Street Real Estate
That last quote is probably the most important one ;).
Thanks to all the pros for contributing to this month’s expert roundup. We hope that you learned something new and now have some ideas of how to improve or start your lead generation strategy
Keep an eye out for our next instalment! We would love to hear from you If you are interested in being featured or have suggestions of topics you would like us to cover or dive deeper into.
Please connect with us at firstname.lastname@example.org!