Lead Generation Doesn’t Have to Cost a Fortune, Expert Says

Are your go-to methods of finding new clients getting stale?

You’re looking to attract new sellers and buyers as your clients, but you aren’t sure how to stand out – without spending a fortune. What to do?

“Lead generation is the key to success in real estate. You want to have a system that brings more clients than you need, so you can afford to turn the ones you don’t want away,” said Dr. Michael Soon Lee, CRS, GRI.

Lee said events like the convention are a great opportunity to meet new people in the real estate industry and network. But you have to put yourself out there. “To meet new agents, you can’t sit with or hang out with people you know. Get out of your comfort zone and meet new people. I just got a $4,000 check for referring a seller to another agent outside my area, so I spent no time on this transaction. Now that’s efficient,” he said.

“Another little-known way to get clients for no money is to build relationships with local contractors and landscapers. They often know who is going to be selling their home before anyone else. People only fix up their homes if they’re thinking about selling or if it really, really needs it. Just one contractor has referred me four clients in two years resulting in over $3.5 million in sales. That’s just one small part of my lead-generation pipeline,” added Lee.

As you can see, Lee isn’t about spending tons of money to advertise. Instead, he focuses on relationships and gaining trust from others in the community.

“Inexpensive leads don’t mean bad leads,” he explained. “While they cost very little money, they can be extremely effective and profitable. The only thing agents sell is our time and knowledge. If we can spend less money generating leads, our profitability increases. My lead generation system has enabled me to not only survive, but thrive in the real estate profession for over 40 years. It can do the same thing for anyone.”

Lee will be talking about these tips and more inexpensive ways to generate new clients next month at Triple Play.

Lee presented at Triple Play 2019.