Learn how to how to generate leads in real estate and put together a contact plan in your CRM to market to your sphere of influence with a 7 to 1 return.
In today’s video, learn how to generate leads in real estate with ICC Executive Coach, Brad Baldwin. Your CRM is a tool that you can use to convert leads that you already have in your sphere of influence (SOI) database. Spoiler: nurturing your SOI database is essential. Let’s dive in.
VIDEO: How to Generate Leads in Real Estate with an SOI Contact Plan
2-Week Assault Plan
When a lead comes to you and you reach out but are unable to get ahold of them, plug them into your 2-Week Assault Plan. Make sure that you classify and sort your leads into A, B, C, and D leads so you know how frequently to follow up with them. If you need more help with this, check out a few of the following blog posts that have information to help you or refresh your memory.
- How to Convert Real Estate Leads Into Sales
- Real Estate ISA Scripts & Systems
- Real Estate Lead Follow Up Scripts
Nurture Your Leads
How can you use our CRM to constantly stay in contact with your people to produce leads, then appointments, then sales? Nurturing is key to how you generate leads in real estate. First let’s talk about your sphere of influence (SOI). These are all the people that at the very least know you by name. If you call them on the phone, they should recognize who you are. These people all belong in your SOI and should be in your CRM. You will put these SOI members on the “40-contact plan.” We have found here at ICC that if you reach out to someone in a variety of ways 40 times throughout the year, you should get a 7 to 1 return on those leads.
Let’s say you have 300 people in your CRM and you’ve had them in there for a year. You have them on this 40 contact plan. We have found that for every 7 people you know, you should be getting 1 transaction. If you know 300 people, that should give you 43 transactions per year. With the average commission right around $7,000, that’s around $301,000 in GCI just from your SOI by doing some of the things we are about to share with you.
40 Contact Plan
At first, you may think that 40 contacts per year is a lot. Realize that these are not all phone calls! It’s a mix. It’s phone calls, social media contacts, emails, mailers, client events, pop-bys, etc. Creating a plan is key to how to generate leads in real estate. When you decide your mix of contacts, make sure to keep in mind that some methods work better than others. It’s always best to have a good mix of different ways to reach out because everyone is different. Some people do respond well to emails, while others will mark your messages as spam if they get too many. You should be reaching out in a variety of ways to ensure the best response.
Tips for your 40-contact plan
- Quantity over quality. Spending months designing the best mailer postcards is a waste of your time. Most people toss them in the recycle bin along with all the other coupons and mailers they receive. Does this mean mailers are a lost cause? No! The recipient is still seeing your name, which is helping gain mind share. All that said, keep it simple. They should see your name and contact info — that’s the most important.
- No more than 26 touches should be email. More than that and you are oversaturating your contact plan with too much of one method of contact. If you want to know how to generate leads in real estate, it’s by varying your contacts!
- Don’t just spend a ton of money. You must look at your expenses and only 5% of your GCI should be put toward mailers/marketing to your SOI.
- Include at least 2 phone calls. Yes, there are many different ways to arrange and construct your 40-contact plan, but reaching out at least twice by phone is essential.
- Give to get. Think of ways to reach out to your contacts that come from contribution.
Learn how to generate leads in real estate with an ICC Coach
Get an ICC Coach in your corner to help you create a 40-contact plan that is effective and fits your personal style. This plan is key to how to generate leads in real estate. Request a free consultation call today.