Learn the best lead sources for real estate agents and how top producing agents focus on the low-hanging fruit with the highest conversion rates.
Do you know the best lead sources for real estate agents? When asked, you may immediately think about online leads. You may be surprised by the statistics. It’s a fact: 80% of closings come from your sphere of influence (SOI). Then why is it that real estate agents spend so much time focused on leads coming from outside their SOI? Today I’m going to explain why you need to keep your SOI as your primary focus.
VIDEO: The Best Lead Sources for Real Estate Agents
Everyone is looking for the “magic pill”
Spoiler alert: there is no “magic pill.” Agents want to find their niche, something they can specialize in, that will bring them the most leads. Realtors tend to get “bored” doing the same tasks week in and week out. I’ve been in real estate for more than 30 years — I’ve seen everything. All the top agents do the same thing. They focus on their sphere of influence (SOI). As I often say, success leaves clues. Do what the high-producers do if you expect to become a successful Realtor.
The best lead sources for real estate agents
We have a great chart, based on data from the National Association of Realtors, that shows where most clients find their agent. Without a doubt, nearly 80% of leads will come from your SOI. Yes, you should convert online leads, but don’t be dependent on them. You need to build your own book of business first! Build your SOI first and foremost.
Let’s get back to basics. Did you get into the real estate business to door-knock, or to be a telemarketer answering calls from online leads? I doubt it. You got into real estate because you are good with people. The real estate business is all about relationships. Don’t let the next bright, flashy lead source that comes along distract you from the core of the real estate profession.
Why would you ignore the low-hanging fruit? The people who know you by name (aka everyone in your SOI) are your best, and easiest, leads.
FREE DOWNLOAD: How Clients Find Their Agent
You can see the chart in the video, or, you can download it for FREE below by subscribing.
What about other lead sources?
It is a great idea to have additional pillars of business as a real estate agent. As we already established, the best lead source for real estate agents is your SOI. As long as you keep that your primary focus, adding another lead source (or two) is great. FSBOs, Expireds, Circle Prospecting, Farming, and Online Leads are all great secondary pillars of business.
How to succeed with your SOI
Create (and stick with) your annual SOI contact plan. Keep it slow, incremental, and easy. Don’t tell yourself that you are going to add 20 people to your SOI each week. Try adding 2. Make your daily and weekly tasks achievable or you’ll give up and not stick with your plan at all. Your SOI is your best lead source for real estate agents.
Be consistent. Stick to your annual contact plan and do your weekly tasks. Results will follow!
Want to learn more?
- Read The High-Performing Real Estate Team. You can buy Brian Icenhower’s best-selling book on Amazon.
- Subscribe to The Real Estate Trainer Podcast. You can find it on Apple Podcasts, Google Podcasts, Spotify, Podbean, and anywhere you listen to your favorite podcasts.
- Join the Real Estate Agent Round Table. We are always posting fresh content, including market updates, free templates, and host dynamic discussions with the industry’s top producers.
- Subscribe to our newsletter. In the sidebar of this blog, you’ll see a form to fill out to subscribe. You’ll be the first to find out about our new resources, free downloads, premium online courses, as well as promotions.
- Reach out and talk to an ICC coach. Not sure which of our coaching programs is right for you? Let us help you.
