Driving warm growth leads into the business can seem like an impossible task. You find yourself scrolling through databases, online listings, cold calling, and endlessly door-knocking streets. While there will always be a place for these tasks, there is an easier way to source warm leads.
There is an easier way to source warm leads.
I’m going to share an old lead generation concept with you, but with a new twist. It involves establishing a local network that provides you with a constant supply of warm leads ready to do business with you.
An old lead generation concept, but with a new twist.
You create a referral network in your local area where you are at the ‘top of mind’ for anyone wanting to make a real estate transaction. Heard all this before, yes? But in this twist, we aren’t looking for direct leads; we are building a network of referrers. These people may never do business with you. However, they will refer business to you. In its simplest form, you want to create a network of other people’s networks.
We aren’t looking for direct leads; we are building a network of referrers.
When building your local network, people often get tied up focusing only on those people wanting to rent out their property today or soon. The key thing to consider when building your local network is that you are trying to connect with anyone. These people may have friends or family members within their own network that own or may buy an investment property and are potentially looking for a property manager.
The key thing to consider when building your local network is that you are trying to connect with anyone.
Here are some tips for building your local network;
Tip 1: Shop in your local community This is an old concept with a new take. Try to shop in your local community and support local businesses. After all, you are asking them to support you. Small business owners are a rich source of referral business. The aim is to establish a close enough relationship with these businesses that they know you by your first name and where you work. Under this new networking technique, you are trying to build a relationship with these people for the purpose of leveraging their personal and business networks.
Small business owners are a rich source of referral business.
Tip 2: Door knock around your open homes This is another old concept, but when you lay a new technique over the top you create a much more effective way of establishing your network. Normally you would door knock on the street in search of someone that may be in the market for a new property manager. Now you are just building your network. An older person that has lived in the area for 30 years would normally be overlooked, but in this strategy, they have a huge network that you can leverage if you can establish a trusting relationship with them.
Normally you would door knock on the street in search of someone that may be in the market for a new property manager. Now you are just building your network.
Tip 3: Community events Again, an old concept with a new flair. At these events, you always find the locals that just want to chat, and you know they have no intention of doing business with you. While in normal lead generation techniques, these people are often looked over, they are actually a gold mine of referrals. They are easy to build relationships and trust with and are also the types of people that talk and are most likely well known in your community. Strengthening a relationship with these types of people could be a continuous lead source for you.
Strengthening a relationship with these types of people could be a continuous lead source for you. They are actually a gold mine of referrals.
As you identify the right people to be in your network, it's as simple as strengthening that relationship over time. You do this by regularly visiting them and dropping off gifts specific to things that they have talked about with you. If you were talking to Betty in her front yard and she mentions that she wants to plant some herbs, then go and buy her some herbs. She will remember that gesture. The goal here is that anytime someone mentions anything real estate to Betty, she thinks of you first. “Go see Adam. He is a really nice guy, and he’ll look after you”.
The goal here is that anytime someone mentions anything real estate to Betty, she thinks of you first.
Over time, you will start to see a continuous flow of warm leads into your business from these relationships. Instead of cold calling random people, you simply spend time nurturing these relationships, which is a much easier and more rewarding task.
Instead of cold calling random people, you simply spend time nurturing these relationships.