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How to build a pipeline from online leads | REM

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Once your sphere/database has been exhausted you need a new source for clients. There are offline methods for developing leads and clients such as open houses, door knocking and cold calling, but online is where it’s at these days.

I know your first thought may be to scroll through this article because it is long, but each point is truly is critical. This article, in order, will deal with why online lead generation is the new big thing, the different ways to generate leads online, how to convert those leads and how to turn them into over $100,000 a year in income.




Why are online lead-generation strategies permeating the new Realtor zeitgeist? There are a number of reasons:

  1. They work so you don’t have to. Online lead-generation strategies work round the clock; they work while you’re with clients, sleeping and while you’re taking a day off.
  2. They work continuously. They keep generating leads for the long term, which helps avoid the boom-and-bust cycles of real estate. This keeps you from getting too busy with clients to build your pipeline, then get desperate when those deals are done, then do mega marketing, get busy and repeat the cycle again.
  3. They can target your ideal client type – you choose who you target.
  4. People research real estate online before they find a Realtor. By the time they are actively looking they either already have a Realtor, or they at least have a shortlist.’

How to generate leads online

Websites:

“I have a website but don’t get leads, so online lead gen doesn’t work.”

Just having a website doesn’t generate leads because people don’t know it is there. If your search engine optimization is on-point and you’re at the top of Google, then sure, that will work for lead gen. You just optimize your website for viewer-to-lead conversions. If your SEO doesn’t have you at the top of Google, then be prepared to invest tens of thousands of dollars in hiring a company to get you near the top of web searches over the next year. Yes, it takes that long. If you don’t have the money to hire a company, then spend time on courses and improving your own SEO…but it will still take that long. And realistically, 95 per cent plus of Realtors quit before they start getting results because it is such a grind and they quit/burn out before they succeed.

Another way to get leads from your website is to do paid advertising. This can be done with either online or offline advertising. But to get leads from a website you need the traffic that converts into leads. If you’re wondering how much traffic you need to get leads, keep this in mind: the average website conversion is one to three per cent (and Realtor websites are generally less than one per cent).  So, if you convert let’s say one in 50 leads, you’ll need 50 leads…which will require at least 5,000 viewers.

Organic social media marketing:

Generating leads on social media platforms such as Facebook, Twitter and Pinterest is the new holy grail of online business. Most Realtors, however, are more “The Knights who say Ni” as opposed to a social media ninja.

Social media marketing works for lead generation, but it is also a long-term strategy. You need to first develop your audience…because without an audience you have no strategy. Then you need to engage and grow that audience. Then you need to turn them into leads and clients. Once you have an avid follower, turning them into a client is significantly easier than a cold call or cold lead.

The challenge of social media marketing is defining your brand, establishing your audience and building it. While it’s about establishing a great connection through marketing, it is a numbers game partially. About one per cent of the population is buying or selling a house at any given time. So, if you want four clients a month you need at least 4,000 engaged followers – and that is if every person following you who is thinking of buying and selling uses you (and not their husband’s mother, cousin or best friend’s best friend). You’re not going to sign every follower looking to buy or sell, so you need a large group of ACTIVE social media followers. If you don’t have that now you need to grind to build a bigger following or do paid promotions to build your audience.

Social media ads:

I specialize in social media ads – especially Facebook lead-gen ads, and here’s why: your website isn’t going to spontaneously get leads. Your social media isn’t going to go beyond your current sphere of “friends” or “followers” without getting more exposure. To get leads online you need traffic/viewers. Period.

You can get traffic to your website or social profile, then hope someone follows you or contacts you (a low percentage), or you can get the lead from the get-go. Ad types like Facebook’s Lead Generation gets you the name, email and phone number, then you immediately pick up the phone and start a conversation. If you do paid advertising to send people to your website or social media profile(s), you’re going to lose 96 per cent plus of that traffic. And the ones you do capture then need to be nurtured just to become a lead.

The way I look at things is that instead of spending your time getting traffic to your website or social profile/page/group, only for most of them to leave and the rest to be nurtured over time to turn into a lead, spend that time/money turning them into a lead immediately. When you get right to the lead stage you take out the time nurturing them and instead turn them from a lead to a client. It cuts out the middleman.

Check out my article on ways to do authentic Facebook ads.


How to convert online leads

You have online leads – awesome! Now what?

Online leads aren’t referrals or a warm lead from your second cousin. There’s no magic bullet solution here, unfortunately. They take work. If you don’t want to work to get their business, sorry but I can’t help you (and I don’t think anyone can).

There are two major approaches to converting online leads into clients:

  1. The email list /drip campaign marketing: For those getting a large amount (at least a thousand a month) of leads from their website, have social media marketing and/or paid advertising and are too busy to reach out to each lead individually, there’s the drip-campaign (email marketing game) option. This can work well if you have a large number of leads coming in and have a great email conversion campaign. Your conversion rates will be low though, between one and four per cent.
  2. The phone call: I am such a huge fan of the good old-fashioned phone call. You can send a thousand emails and get nowhere but make 20 phone calls and get a meeting.

Choose wisely.

To convert leads you really need to connect with them on the phone, which is the precursor to in person (the only real closing capability for leads). If you want to convert online leads, you need to talk to people. Period. You can work up to a conversation, but you’ll never get their business without a meeting.

To book meetings you need to block time – and stick to that – every day to follow up on your leads. You will not succeed without this and you’ll be stuck in a boom and bust cycle forever. You need to call people one to three times a day until you reach them, almost every day. If you’re sincere about helping them they will thank you for not giving up on them.

The final thing is to look to lead-conversion training. Online leads aren’t warm referrals…they take hard work. You don’t learn how to convert online leads in real estate licensing school. There’s a ton of agents who think they are amazing at converting online leads, but when push comes to shove…. they aren’t. Do not be afraid of that. Your favourite electrician couldn’t sell real estate and you couldn’t rewire a house up to code if your life depended on it. Look at learning online lead conversion as learning new strategies that build on what you already know. The best of the best are always learning and expanding their knowledge and skills.


How to turn online leads into over $100,000 a year in income

While leads are a numbers game to a certain extent, I never believe that leads should be treated like a number. These are people, and my top clients truly care about every person they talk to. Having said that, despite how much you care about each person you talk to, not every one of them will become a client.

For online lead conversion (from lead to client) you’re looking at a rate of at best four per cent. Most of my best converters get three per cent but the bulk are at two per cent.

So, you know what it takes to get a client online. Now let’s reverse engineer your income. If you want just $100,000 a year you need to look at your average income per deal. For example, if you make about $5,000 per deal (after paying expenses), then you need 20 deals a year. That’s 1.66 deals a month.

Let’s reverse reverse engineer that. If you need two deals a month (I’ve rounded up because some deals will fall through) to make $100,000, you need at LEAST 50 leads a month.

Boom – a pipeline that will increase your business to over $100,000.

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Montreal real-estate prices climbing much faster than Toronto or Vancouver: study

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MONTREAL — The cost of housing per square foot has skyrocketed in Montreal while other cities saw little change over the last year, according to a new national survey.

The study found that condominium prices in downtown Montreal are up 13.5 per cent from last year to, on average, $805 per square foot.

That’s not as high as other cities, but it’s catching up — and Montreal’s rate of growth is outpacing other major Canadian cities.

Toronto’s condo prices grew to $1083 per square foot, an increase of just under 10 per cent, according to the study. In Vancouver, where you can find some of Canada’s most expensive condo prices, rates are down 4 per cent to $1192 per square foot.

To make the comparisons, Canadian real estate giant Century 21 collected data from real estate boards across the country to calculate the home costs per square foot.

“It’s important to compare apple to apples,” said Todd Shyiak, the company’s vice president of operations.

Montreal’s rise was even more explosive for detached homes and townhouses.

Detached houses in Montreal’s downtown and southwest rose to $958 per square foot, 40 per cent up from last year.

“It’s wild,” said Century 21 broker Angela Langtry. She says the pandemic raised demand.

“People had a lot of time to figure out they don’t like the home they’re in,” she said. “They all want pools.”

There was a big spike in sales, she noted, following a pause in brokerage during the spring, at the peak of the pandemic.

Experts say the pandemic will push people into the suburbs as they search for affordable housing and home office space.

“A huge portion of our society’s housing needs changed overnight,” said Shyiak. People “no longer need to be 10 minutes from the office.”

He says that could mean less demand for condos in the future. “People want their own front door,” he said.

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Real Estate

Carttera buys prime downtown Montreal development site

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Carttera has acquired a prime downtown Montreal site at 1455 De La Montagne St. which will mark its third development on the thoroughfare.

“We think it’s probably one of the best, if not the best, locations in the whole city,” Carttera founding partner Jim Tadeson told RENX. “We’ve had great success on De La Montagne.”

The two earlier projects are: L’Avenue, a building with 393 residential units, 84,000 square feet of office space and 34,000 square feet of retail that was developed with Broccolini and occupied in 2017; and Arbora Residences, a two-phase development with 434 rental and condominium units in three buildings being built in partnership with Oxford Properties.

Thursday’s latest acquisition, for $48.5 million from 630745 Ontario, is a 31,750-square-foot surface parking lot with flexible mixed-use zoning on the corner of De La Montagne and De Maisonneuve Boulevard West.

The site is near the Vogue Hotel Montreal Downtown, the new Four Seasons Hotel Montreal and high-end retail.

“It’s zoned for up to 203,000 square feet of density, which we’re going to take advantage of,” said Tadeson. “Our vision for the site is a condominium project with some retail.”

Since there is no demolition required and no heritage issues to contend with, Toronto-based Carttera plans to move ahead quickly with the luxury project.

It’s in the concept design phase and Tadeson said it could take six months or more before it’s prepared to make a submission to the city.

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Montreal Has the Hottest Real Estate Market in Canada Right Now

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If you thought Toronto’s real estate market was on fire, it’s time for a second take, because the market in Montreal is the hottest in all of Canada right now.

A newly-released annual report from CENTURY 21 Canada reveals that, following an early-spring decline due to the COVID-19 pandemic, sales numbers are bouncing back and house prices across the country are maintaining their strength. The study compared the price per square foot of properties sold between January 1 and June 30 of this year, compared to the same period last year.

In Toronto and Vancouver, unsurprisingly, prices remain high. But while regions across the country are seeing varied stories when it comes to their housing market fluctuations, Montreal stands out — there, prices have increased dramatically since 2019. While the numbers remain lower than Toronto and Vancouver, that housing market is proving to be the country’s strongest right now.

In Quebec’s largest city, prices have increased significantly since last year, particularly in the downtown detached house and townhouse markets. For example, the price of a detached house in Montreal’s downtown and southwest rose 42.14% to $958 per square foot, while townhouses went up 44% to $768, and condos, 13.55% to $805. Comparatively, in Toronto and Vancouver, prices saw more modest increases or, in some cases, even declines.

“Even though real estate in Quebec was not considered an essential service, we have seen strong demand and a jump in prices in 2020,” said Mohamad Al-Hajj, owner of CENTURY 21 Immo-Plus in Montreal.

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