Steal This Lead Gen System, Round II

Thank you to everyone that provided feedback on our Expo Event Strategy post! Per request, we’re sharing another events-based lead gen strategy you can employ in 2024! Don’t hesitate to drop us a line if you have feedback or topics you would like us to cover.

Pipeline Building Basics

When it comes to building a book of business, a real estate professional has two jobs:

1. Generate leads into your database

2. Work your database effectively to turn those leads into clients

Simple. Straightforward. In fact, if you’re ever feeling lost or not busy enough, you can analyze the effectiveness of your pipeline building from the perspective of those two facets, in order to determine what isn’t working.

Analyzing and Optimizing Your Pipeline Building

For example, if you’re not having enough conversations or meeting enough people weekly that may have an upcoming real estate need, then it’s simply a matter of effort and activity. Schedule more open houses. Thoroughly connect with your sphere. Partner with a lender and do quarterly first-time home buyer sessions. Stuff ten business cards in your pocket and make sure you’ve handed out all ten buy the end of the day. At the end of the day, creating opportunities to meet more people and have more conversations doesn’t take anything other than just putting in the work. 

On the other hand, if you are meeting enough people but not turning them into relationships at an effective clip, nor turning those relationships into client-status, that is a matter of tradecraft. Connecting with people and having them want to work with you is all about effective presentation skills, consultative and client management skills, along with industry expertise. If you’re doing the hard work and getting out there to meet new prospects but striking out in getting people to want to go further with you, you’ll need to invest in developing those critical tradecraft skill sets. 

For most agents, as they’re building out their career the first challenge is just executing effective lead generation efforts and getting in front of potential home buyers and sellers effectively. Once they’ve got that part down, the more difficult challenge of converting those prospects come into play.

However, lead gen and lead conversion efforts work together in such a way that if you’re putting yourself out there sufficiently, you’re automatically going to get dialed in on your tradecraft and industry expertise in the process. A good agent should still be taking courses, watching videos, etc. to be the best they can be, but there is truly no substitute for just doing the actual job and learning to be great at it. 

With experience and the right learning, the conversion rates start to rise. And over time and agent can find themselves with a healthy pipeline with plenty of opportunity to meet new people, all the while being best positioned to turn those connections into closed transactions, ultimately.

Steal This System - Midweek School Open-House

So, from that perspective, I recall when I was first starting out. My goal was to meet as many people and have as many real estate conversations as possible, in order to feed and grow my database contact list. I was doing multiple open houses every weekend, but I found myself with more free time during the week than I would have liked. And that we the impetus for developing a lead gen system for weekdays.

One solution I came up with, and feel free to steal or adapt, is the ‘midweek school open-house’ strategy.

In short, I would call schools and tell them I’m a real estate professional that loves to help teachers and academic professionals. Would it be possible to schedule time to sit in the teacher’s lounge or breakroom sometime?

I would typically bring a lender with me and together we were a resource for teachers and faculty for any real estate questions or advice, whether it’s about the housing market, people’s individual needs, or beyond.

We also provided information on savings programs and other benefits for teachers and academic professionals, like the Good Neighbor Next Door program, which allows teachers, policeman, firefighters and EMTs to purchase homes significantly under value, sometimes as much as 50% off. Ultimately, the goal was to provide value and make meaningful connections.

Once I received permission to be scheduled at a school, then I would plan and execute. I’d connect with a lender and split costs on snacks and drinks. I’d take a placard as a hook and to get people comfortable to speak with me. I’d prepare some informational flyers as a leave behind and to make it easy for any interest parties to follow up with me.

Sometimes teachers were surprised to see a real estate professional sitting in their breakroom, but typically the effort was well received, especially when I was able to provide value with helpful information and wise counsel. 

As a kicker, I was allowed to stuff the teacher and faculty mailboxes with my leave-behinds on the way out. In about five to ten minutes I was able to hit a hundred mailboxes or more. It would take me hours had I walked a neighborhood and tried to hit the same number of doors. 

Fortune is in the Follow Up

Of course the event is the easier part. Post event I would add all the leads to my database and nurture system. And then I would put in the effort and work my database to follow up with prospects over time, try to connect and build a relationship, and ultimately position myself to earn their business when the time is right. This is how you win the relationship. 

In fact, if you’re not going to put in the follow up and follow through effort, then there really is no sense to do the event in the first place. Everyone wants “now” business that is ready to buy or sell just around the corner, and ready to work with you too. But, the fact of the matter is 95% of the opportunities you will come across will be three, six or nine months out, or beyond, and there is no way they will convert without the right systems and effort in place. 

Depending on the size of the school I would usually meet 20-30 people over the course of a few hours. If I worked my database properly I was picking up one to two transactions per event, over time. 

In Closing

I loved this program. It was effective, rewarding and allowed me to capitalize on what otherwise might have been dead time during weekdays. And no reason this type of program couldn’t be extended to fire departments, police precincts, EMT business, or beyond. Anytime you can put something of value together and pull together a group of people to get in front of, you’re putting lead gen and conversion odds in your favor. And if you’re going to lean into this, absolutely take video and post and share online for maximum exposure for your efforts. So, if you’re looking for additional lead gen sources and ways to get in front of more people  in 2024, this type of program may fit the bill!