Use these real estate lead generation contest ideas to help increase real estate agent productivity and download our free contest PDF template.
Regardless of size, if you are a leader of a real estate team, encouraging your agents to continuously lead generate is a must. No matter how busy an agent gets, generating leads must always be at the forefront of their daily duties. If real estate agents do not place emphasis on lead generation every day, they run the risk of facing a gap in production. This is why our real estate lead generation contest ideas will help your agents stay motivated.
Today, we will look at some great contest ideas that incentivize lead generation for your agents.
VIDEO: Real Estate Lead Generation Contest Ideas – Free PDF Download
Avoiding the Real Estate Roller Coaster
Before we delve into these contests, it’s important to understand why having a real estate lead generation plan is so important. When real estate agents get busy, it’s easy for them to focus their energy on closing transactions. However, without any new leads in the pipeline, an agent can quickly find themselves panicking and scrambling for business.
Continuously focusing- even a couple of hours a day – on lead generation will help agents avoid the crazy roller that results in agents failing and getting out of the business.
Why Lead Generation Contests are Effective
Ideally, an agent will always be able to find the motivation to engage with their SOI and generate leads. In reality, staying motivated can be a challenge, especially in the months following your busy season. Making 5 calls a day, posting 4 times a week on social media, and prospecting can become monotonous.
The great thing about a contest is it takes something monotonous and turns it into a game. As a result, your agents will have extra incentive to complete their Activity-Based Indicators (ABIs). And, the more lead generation, the busier your Admin staff and Transaction Coordinator will be.
Next, we will look at our best real estate lead generation contest ideas.
Focusing on Activity-Based vs Results-Based Indicators
One of the easiest ways to track performance is by focusing on results: transactions closed, volume closed, etc. However, Results-Based indicators have too many short-term variables to make them effective contests. For example, an agent could get lucky with 1-2 sales without focusing on lead generation.
With Activity-Based Indicators (ABIs), real estate lead generation contests are much easier. Completing the daily tasks of contacting your SOI, posting on Facebook, and receiving client testimonials can be tracked. Additionally, focusing on activities shifts the mindset away from short-term results and instills the long-term approach that over time, results will come.
Keep Contests for Real Estate Lead Generation Short
Shorter contests (one month or less) provide a little more incentive and keeps more agents in the race. When a contest stretches beyond 6 weeks, there is a greater chance of insurmountable leads, which will diminish agent participation. Monthly contests over the course of the year will yield better overall engagement vs quarterly contests. Since agents will know a new contest will be available the following month, they will have a shot to win the next time.
Make the Prize Worthwhile
Lead agents and broker/owners do not have to break the bank to provide a good prize. But, a prize with solid tangible value will go a long way in keeping agents engaged with your contests. Examples of prizes that will incentivize your agents include:
- Higher splits on upcoming transactions
- 100% commission on their next transaction
- Weekend getaway in a nearby retreat
- Cash (although it’s not exactly a fun gift)
Whichever prize you choose, make it fun and make it exciting!
How to Use the Real Estate Lead Generation Contest Tracking Form
There are a variety of activities available on our Lead Generation Contest Tracking Form. Each activity is assigned a point value, and the more activities an agent completes, the more points they earn!
Need additional help with Lead Generation and building a team? Be sure to check out our Online Course on Lead Generation. Or, for 1-on-1 support from an ICC Coach, Schedule a Free Consultation call today!