Lead Gen Playbook: How to Generate Cost-Effective Real Estate Leads

Are you tired of lead generation draining your resources and not providing quality leads? It's time to give your wallet a break! 

At Virtuance, we understand the importance of cost-effective lead generation strategies for real estate agents - which is why we're excited to share our latest webinar: "The Lead Gen Playbook: How to Generate Cost Effective Real Estate Leads". 

In this short session, led by real estate marketing expert Rachel Gombosch, you'll learn about budget-friendly and effective marketing strategies that can automate and streamline your lead generation efforts while saving you time and money.

We know that real estate lead generation can be a challenging and costly task. That's why we're committed to providing innovative solutions that are both efficient and affordable. We'll discuss lead generation ideas that won't break the bank!

You can expect to learn strategies and tactics that will help make your lead generation efforts not only effective this season, but also friendly to your budget. 

Transcript

[00:00:00] You can dive into cost effective strategies that not only save you money, but also save your precious time, um, which is important. We want to make sure that we're using our time most effectively or as effectively as possible. So we're going to share some of those insights and tactics to help you generate leads without breaking your.

[00:00:20] This is Curb Appeal, a podcast for real estate professionals who are looking to build out their business and get more deals done. In each episode, we uncover what is and isn't working when it comes to scaling in the industry. Listen in and get actionable steps to grow your real estate brand, attract more business and expand your footprint in the industry.

[00:00:41] Okay, let's get started.

[00:00:48] To thrive as a real estate agent, you really need to adopt cost effectively generation strategies. That align with the modern market landscape. So today we're going to explore a range of just budget friendly techniques and [00:01:00] cost effective techniques to help you generate more leads without breaking your bank.

[00:01:04] So first it's important to talk about, you know, why lead generation matters and why currently generation is so darn expensive nowadays. So lead generation is the lifeblood of your real estate business. So leads are the key to future clients. Sales and future growth as well. They really matter here. So the more leads you have, the more opportunities you'll create for yourself.

[00:01:25] Traditional methods, digital methods, um, they're all facing several challenges in today's real estate market. So why is lead gen so darn expensive? So lead generation in real estate has become just increasingly costly due to a couple of different factors. So first, the competition in the real estate market has really just grown significantly.

[00:01:46] We understand that more agents and agencies are really vying for the same pool of potential clients. So this increased competition has really driven up the cost of things like online advertising, pay per click campaigns, and social media marketing as well, [00:02:00] which are all very common methods for generating real estate leads.

[00:02:03] Additionally, rising cost of data and technology tools used for lead generation are contributing to this increase in expense. And then finally, the changing landscape of online advertising, including things like stricter regulations and the need for more sophisticated targeting, especially when we talk about it from an ad standpoint, has made it more challenging to generate leads or quality leads at a reasonable cost.

[00:02:28] So as a result, real estate professionals. Really just need to allocate a larger portion of their budgets to lead generation, which has become a substantial part of their overall marketing expenses. However, in response to these challenges, there are still ways in which you can generate leads by still using, um, effective strategies, including effective traditional and digital strategies.

[00:02:49] through cost effective methods. It's really about just understanding what your options are and how you can tailor those different methods and strategies to be friendlier to your specific budget. [00:03:00] So with that, we're going to go ahead and just get started. So what can you do? Um, so you can dive into cost effective strategies that not only save you money, but also save your precious time, um, which is important.

[00:03:10] We want to make sure that we're using our time most effectively or as effectively as possible. So we're going to share some of those insights and tactics to help you generate leads without breaking your, so before we dive into these four cost effectively generation strategies and these methods, I do want to make sure I.

[00:03:27] point out that these are going to be a mix of traditional methods and also digital methods as well. It's important that we do marry the two and not just focus heavily on one over the other. They both have their positives, um, and ways that they can really positively impact your business. So it's important to make sure that in any of your marketing efforts, you are having a blend of both traditional methods and also digital methods.

[00:03:50] The key here is just making sure it's cost effective for you, your business, and your budget. So without further ado, I want to go ahead and just get started with our first strategy on [00:04:00] cost effective lead generation. We've got four we're going to be covering today. So that first one is going to be building better relationships with what we are calling hyper local marketing.

[00:04:09] So hyper local marketing is really just a game changer in the digital age. So it focuses really on connecting your local community and just becoming that go to expert in your neighborhood or your community. So these strategies are low cost because effect or essentially they rely Um, leveraging your existing client base and encouraging word of mouth referrals while also investing time and effort, um, rather than substantial financial resources.

[00:04:34] So this first strategy we're going to cover is just incentivize clients through a structured referral program. So this strategy just involves setting up a formal referral program where you essentially encourage your satisfied clients to refer their friends and family to your real estate services. And in exchange, you're offering some type of incentive.

[00:04:51] Um, so that could be things like discounts on future transactions, gift cards or other valuable rewards as well. So the reason this is really just a considered a low cost [00:05:00] approach or cost effective approach is because the beauty of this strategy is that it doesn't require a significant upfront investment.

[00:05:06] So you're leveraging your existing client base and their goodwill to bring in new leads. So the cost primarily involved in incentives are involved in the incentives you're providing, which can be tailored to whatever your budget is. The second strategy here under Hyperlocal Marketing is going to be making or make offering client testimonials easy.

[00:05:25] So satisfied clients can be some of your most persuasive advocates for your real estate business. So making it easy for them to leave reviews and prominently display these testimonials on your website can all help you build trust and credibility with potential clients. So this is a low cost or effective cost effective approach because collecting client testimonials and reviews, it's obviously just very cost effective.

[00:05:49] It doesn't necessarily require you to spend a lot of money. It mainly just involves requesting feedback and setting up a system to showcase these reviews on your website, um, or on social media platforms as well. So the [00:06:00] key here is your time and your effort. Essentially in maintaining a positive relationship with those clients.

[00:06:05] And then the final strategy under our hyper local marketing is going to be be impactful and get involved in the community. Um, so this is a great, uh, opportunity for you. So by participating in local events and joining community boards, so on and so forth, or volunteering your time for causes that are near and dear to your heart or causes that are in your area, you're essentially just demonstrating your specific commitment to the community.

[00:06:25] So not only does this build. Um, it's not only going to create a positive image for you and for your business, but it's also going to help you connect with influential locals who may have the opportunity, may have that opportunity to refer you to potential clients as well. So this is a cost effective method for you because essentially getting involved in the community doesn't necessarily require a large financial investment.

[00:06:47] Um, it could, but that doesn't mean it has to. So you can just volunteer your time and your expertise and sponsor, um, you could potentially sponsor local events. Uh, that can be cost effective as well. So all of this is a really effective way to [00:07:00] network and build relationships without significant monetary expenses.

[00:07:03] So all of these strategies really just emphasize building trust and credibility through satisfied clients. So all of these can be very cost effective for generating leads in the real estate industry without breaking your bank. So the second topic or strategy that we're going to go over is about optimizing your brand and optimizing your listings.

[00:07:22] So your brand and your listings essentially serve as your virtual storefront. So optimizing them is crucial for attracting potential clients effectively. So these strategies are all going to be low cost because they rely on leveraging online platforms and communities. So optimizing your digital presence and also just making efficient use of your time and your expertise as well.

[00:07:42] So the first strategy we are going to go over is optimizing your profiles on online listings and directories. So by optimizing your profiles on platforms like Zillow or Realtor. com involves really just creating compelling complete listings for your profile or your properties with high [00:08:00] quality photos and also detailed property descriptions.

[00:08:02] So it also means being responsive to inquiries from potential buyers and sellers who find your listings on these platforms. So essentially what we're saying here is just make sure you're providing as much information upfront as you can on these online listings and directories. This is a low cost approach because creating listings and maintaining your profiles on these platforms is typically free or comes at a very minimal cost.

[00:08:24] So the primary investment here is going to just be your time and effort in keeping your listings up to date and responding promptly to inquiries, uh, which demonstrate your commitment to customer service. The second strategy here we're going to talk about is about, uh, keeping an updated website. So this one's really important.

[00:08:39] Your website just serves as your online hub, right? This is also very much a virtual storefront initiative. So by regularly updating your blog with informative posts and creating comprehensive neighborhood guides and constantly just tweaking and updating and refreshing your website, you're You can essentially just attract potential clients who are interested in your local real estate [00:09:00] market.

[00:09:00] So effective, this can also include having effective landing pages that potentially cater to specific clientele. So maybe you have a landing page that is specifically tailored to a buyer. And then you also have one that is specifically tailored to a seller to answer any common questions they may have, the process, what it's like to work with you on that type of experience.

[00:09:21] All of this is about providing valuable resources for them on your website. So This is a cost effective approach because while there are maybe some initial costs in setting up and maintaining a professional website, the ongoing costs can be relatively cost effective. So this is a cost effective way to just establish your online presence and attract leads to your website as well.

[00:09:41] Next, we're going to talk about making sure you're actually collecting guest information at an open house. So this is going to optimize your, your listings itself. So open houses can just be obviously that excellent way or that excellent opportunity to collect guest information. So make sure at an open house you are using sign in sheets, whether [00:10:00] that's a physical sheet or something on like a digital app, so that you are gathering visitor details.

[00:10:05] It's also important about which details you gather, obviously their name, you want to make sure you have relevant contact information, and maybe you put in an extra field that just asks a specific question you are looking for when you're looking at potential buyers. So make sure you're just using those contact sheets to follow up with personalized emails or phone calls to provide any additional property information.

[00:10:27] And then for those who maybe can't attend but had shown interest. Make sure you're sharing links to any virtual property tours, any links to online listings. This is a low cost approach because hosting open houses, uh, really doesn't involve tons of cash. Um, tons of cash flow, some costs, uh, could be things that revolve around property preparation or any marketing materials you may need.

[00:10:47] Um, but it can be done in a very cost effective way. So the lead generation aspect of collecting all of that contact information. Is cost effective in itself. So gathering visitor details and following up can be done with minimal expense. So [00:11:00] primarily just involves your time and your communication efforts.

[00:11:03] And then the final strategy here, uh, when we talk about optimizing your brand and optimizing your listings, is gonna be participating in online forums and question and answer websites. So, participating in online forums and q and a websites really just allow you to establish yourself as a trusted source in the real estate field by answering questions and just providing informative solutions or answers.

[00:11:23] So make it easy for users to really just contact you with additional assistance. So maybe you provide a really awesome answer to someone's question. Um, give them an opportunity to, you know, reach out to you directly to ask questions and spark up a conversation that way. So this is obviously a low cost approach, uh, because participating in online forums and Q and a websites is really entirely cost free.

[00:11:44] Um, so it's just a valuable way to showcase your expertise and connect with potential clients. Without any financial investment. So other than maybe the time you spend contributing to these platforms. So know that you can find these communities in a variety of different ways. A lot of them, you can even just find communities on [00:12:00] Facebook.

[00:12:00] There's communities on LinkedIn. So make sure you're tapping into those online forums and Q& A websites. All of these strategies when we talk about optimizing your brand and your listings, um, they're going to help you reach those potential clients, demonstrate your expertise and build relationships without significant financial expenses.

[00:12:17] Um, making them really just an ideal way for real estate agents to, who are looking for budget friendly lead generation methods. The third strategy we are going to talk about is about making your content work for you. So effective content marketing is a very powerful tool for lead generation. So repurposing and syndicating your content on a variety of different platforms can help you to reach a wider audience and can be cost effective because they primarily just rely on your time and your expertise.

[00:12:45] And the use of affordable or free digital tools in different platforms. So here are a couple different just content strategies to kind of help you get a head start on this. The first one is obviously just creating and sharing content that is actually [00:13:00] considered valuable. So by developing valuable content, such as maybe a first time home buyer's guide, um, neighborhood tours, market reports, market updates, you can essentially attract potential buyers and sellers who are seeking information and guidance in the real estate market.

[00:13:15] So sharing these resources on your website, your social media, or through email can really help you to generate leads. This one specifically is a more cost effective approach because content creation primarily requires. So you can write guides and reports and you can use free or low cost tools for design and publishing.

[00:13:35] Right? There's some really great tools out there. Things like Canva. Um, that's an amazing tool. I use that tool as well. It's very effective for any type of design. I've even used Canva to make some videos as well. So sharing your content, make sure you're doing that on your website, your social media and email platforms.

[00:13:51] Um, all this can typically be low cost or free, which makes this an affordable lead generation strategy. How else you can make your content work for you is start a real [00:14:00] estate podcast. You have all of this knowledge, you have this amazing expertise in this industry. So why not share that with everyone? So podcasting is just a really great way to engage with.

[00:14:10] Potential clients through audio content. So you can discuss, um, again, things like market trends, you can offer advice, you can do Q and a, you can really position yourself on a podcast as an industry expert. Podcasting helps you reach, um, also just a broader audience and also build credibility as well.

[00:14:27] Yeah. So podcasting can also be surprisingly cost effective. Uh, you need the basic, obviously, audio recording equipment. You can, um, find equipment for a relatively affordable price on places like Amazon. Um, and all of, like, all of that, like I said, all of that can be really just cost effective and quite affordable.

[00:14:45] So hosting and distributing podcasts, also, you want to make sure you're using platforms on things like Apple Podcasts, Spotify, and Google Podcasts. Uh, usually syndicating out to those platforms is free, you just need to make sure you pay for your hosting site. So this strategy [00:15:00] really just primarily involves your time and your expertise in creating and promoting your podcast episodes.

[00:15:05] On a similar note, start some webinars, conduct some webinars and virtual workshops. Again, you're here to answer questions for people and provide your knowledge. So hosting webinars and workshops just allows you to share your real estate expertise with a live audience. So these events attract attendees who are seeking just valuable information, and it's really a good opportunity for you to engage with people, um, and also to build trust and credibility and demonstrate your knowledge.

[00:15:31] So maybe you do a first time homebuyers workshop, right? Think of the groups of people who are looking for similar information and create a webinar or a workshop based on that. So webinars and virtual workshops, uh, they can really be conducted at a low cost. You can use free or affordable webinar softwares.

[00:15:45] Um, quite frankly, we just use Zoom, which is really affordable as well. So we use that to host these events and primary, the primary investment here is going to be your time in preparing the content to promote these sessions. And then finally, when we talk about making your content work for you, you're going to [00:16:00] tap into video marketing.

[00:16:01] Uh, so get ready, you're going to be on the screen. So video marketing is an engaging way to showcase properties. It can help you offer virtual tours, share insights with potential clients. So video content can help you just stand out in a competitive market and attract leads who are interested in visual demonstrations or presentations.

[00:16:20] So video creation has become more accessible and affordable as it's gained popularity. Primary investment in video marketing is just going to be your time in creating and promoting the video content. But by creating valuable content, regardless, you can effectively attract and engage potential clients without significant financial expenses as well.

[00:16:38] And then our final strategy, strategy number four is going to be using digital marketing to reach a larger audience. So in today's digital age, online marketing is really just a cost effective way to reach a larger audience. So these strategies are going to be budget friendly because they allow you to control your budget and focus on efforts on specific target audiences.

[00:16:58] So the first thing we're going to talk about is [00:17:00] creating Google ads and PPC campaigns or pay per click campaigns. So Google ads and PPC campaigns really just allow you to create targeted ads that appear at the top of search results. When people search for relevant keywords. So you only pay when someone clicks on your app.

[00:17:16] That's why it's paid per click. So PPC campaigns, these are a really cost effective method, um, because you essentially have control over your budget, right? You decide how much you want to spend. So you can set daily, you can set daily or monthly spending limits, and you're only charged when someone interacts with your particular ad.

[00:17:34] So by targeting specific demographics and using relevant keywords, you can You can effectively and efficiently generate leads without spending excessively, right? You can, you're the control method here. The next strategy here is going to be utilizing local SEO strategies. So local SEO or search engine optimization strategies involve optimizing your website and online profiles to improve your visibility in a, in, in local search results.

[00:17:59] Uh, so this helps you [00:18:00] attract leads in your specific local area, which can also help you attract more qualified leads as well. So while there may be some initial costs associated with optimizing your website or optimizing online profiles, the ongoing costs here are going to be pretty minimal. So you can do much of the optimization work yourself, or you can even hire an affordable SEO specialist as well.

[00:18:19] So this approach can be highly cost effective because it helps you connect with local clients actively searching for real estate services. Next, we're going to talk about building out email drip campaigns. So email drip campaigns are a form of email marketing where you send a series of automated personalized emails to leads over a period of time.

[00:18:37] So these campaigns can provide valuable information. They can nurture leads. They can keep potential clients engaged with your services. Email drip campaigns can be cost effective because they leverage existing email marketing tools. Or if you want, you can also gather an outside email marketing tool as well, things like Mailshake, MailChimp.

[00:18:55] Um, there's a bunch of different email marketing tools out there that you can take advantage of. So while there may be some [00:19:00] initial setup costs, the ongoing expenses are also relatively low. You can segment your email list to target specific homebuyers and seller segments. Um, and you can make your email marketing very highly efficient and effective for you.

[00:19:12] And then the final strategy here we're going to talk about is leveraging your social media. So social media platforms like Facebook, Instagram, LinkedIn, Tik Tok, um, offer various opportunities for lead generation as well. So you can create engaging content, you can run targeted ads. Again, you control the budget here and also interact with potential clients to build relationships and attract leads as well.

[00:19:32] So social media platforms often allow you to start with minimal budget. when we talk about it from a paid advertising perspective. Again, the whole purpose here is you're in control of how much you spend and that's why it's cost effective. So creating and posting content on social media is generally free, right?

[00:19:49] We know you can, you can post things organically at no cost. Um, and it can be a slightly cost, it can be a highly cost effective way to connect with your audience. Additionally, when we talk about it from an organic standpoint, [00:20:00] the more organic engagement you can achieve, the less you'll need to rely on paid promotion.

[00:20:04] But again, if you do need to tap into paid promotion, you essentially control the budget based on what your budget needs are. So by utilizing Google ads, local SEO, email drip campaigns and social media, you can efficiently generate leads without breaking your bank, right? Which is something we're all looking for, um, which makes these an ideal, uh, tactic or strategy for real estate agents looking for cost effective digital marketing solutions.

[00:20:29] So in summary, by implementing these cost effective lead generation strategies, building better relationships with hyper local marketing, optimizing your brand and your listings, making your content work for you, and using digital marketing to reach a larger audience, you're going to be well on your way to building a thriving real estate business at an affordable cost, right, by being cost effective and friendly to your wallet and to your budget.

[00:20:53] But I also want to make sure we don't forget that Virtuance can help you in your search for cost effective lead generation [00:21:00] strategies. So, not only can our HD real images and visual solutions help you to easily grab more attention online, but with every single base package that you order through us, you're going to receive access to the Virtuance Marketing Suite at no additional cost to you.

[00:21:14] It is automatically included in those base packages. So the virtual marketing suite, the marketing suite is going to be our all in one marketing platform and our content delivery system. So through the marketing suite, you're going to be able to receive access to not only all of your deliverables, your, your professional photos, your 3d tours, your floor plans, but you're also going to receive access to a dedicated single property listing website, which can help you in your SEO efforts and your online visibility as well.

[00:21:41] Plus each website has a built in lead capture form where you can collect leads. For free, they go directly to you. So there's no additional costs associated. There's no third parties you have to go through only leads that are interested in your property. So it's super easy to use. All you do is you will take that property link.

[00:21:59] You'll [00:22:00] share it. You'll send it out. And when a lead is interested as they look through your single property listing website, all they have to do is fill out an easy contact form. You can see an example of it up on my screen and that lead goes directly to you. We're not going to charge you if you generate one lead or a hundred leads.

[00:22:15] Those are all your leads to capture. So that's free included with every single base package that you order through Virtuance. Remember that we are here essentially to support you on your journey. So make sure you keep in touch with Virtuance for more innovative real estate marketing tips and solutions.

[00:22:29] We're here to help you succeed and have just fun along the way and make sure that you're keeping your budget happy as well. So with that, I just want to thank you so much for joining me today. Um, and for letting me take up some of your time and some of the space. Um, make sure you're keeping your wallet happy and your leads flowing.

[00:22:47] I hope you found this webinar session very valuable, um, and I can't wait to see how many leads you guys are generating in cost effective ways. So thank you so much for joining us today. Be sure you sign up for our good stuff newsletter. And you follow us on our [00:23:00] social media channels as well. I'll put all the links in the video description.

[00:23:03] So thank you so much. And I hope you guys all have a great day. Thanks for listening to Curb Appeal. If you enjoyed this episode, make sure to follow along on Apple, Spotify, or your favorite podcast app. This podcast is brought to you by Virtuance. Whether you market one listing a year or thousands, Virtuance is your go to real estate photographer for consistent magazine quality images that are scientifically proven to get results.

[00:23:27] For more episodes of Curb Appeal, please visit Virtuance. com slash podcast.