How “Lead Generation” Could Be Costing You Repeat and Referral Business

Most good agents have at least 50% of their business coming from repeats and referrals.

If you’re in this category, I’m going to suggest an idea that may very well shake up your sense of security when it comes to your sphere.

See the “lead generation” tools you may be using could be unknowingly undermining your efforts. You’re capturing data and plugging people into automated systems.

Here’s a little secret…prospects get it. They already understand it. And what’s worse is, so does your sphere.

The challenge you run into with your sphere is when they visit your web site and “opt in” to your drip campaign…they become “data.” And the automated systems you plug them into lack warmth and feel impersonal.

So what’s that feeling going to do to the value of your relationship?

Sure, everybody does it.

But from the eyes of someone in your sphere, they expect to be treated differently. Even though everyone else does it, they know you and expect more from you.

An automated email to your sphere doesn’t deepen the relationship. It feels cold and lifeless. And from their eyes your relationship with them should mean more than that.

Those relationships closer to you require a much higher level of touch and on occasion a real live meaningful conversation.

For example, let’s talk about someone in your sphere who’s a distant contact. Contrast your email drip campaign with, that same person, calling into a “recorded message.”

They listen and, at the end the recording, it asks them if they would like current pricing. They say, “Yes” and a couple seconds later you’re on the phone having a real live conversation with them.

No they weren’t expecting it, but it comes as a pleasant surprise. After a few minutes of discussion you discover their daughter just gave birth to their first grandchild. You congratulate them and a couple days later you send them a nice handwritten card.

Now how’s that for relationship building?

Again, contrast that against your automated email campaign that does nothing to deepen the relationship.

Please understand that person knows 2-3 other real estate agents. Is the cold impersonal feeling of being “data” in your email drip campaign going to keep them committed to you?

Sure, some of those people will still do business with you and refer others. But over time, step back and really think about the effects of this cold, impersonal “technology-insulated” world we’re building around ourselves.

You’ve taken it to a deeper, more personal level.

A conversation, like the one I described, with a handwritten note will bank you a listing, because they’re downsizing, a buyer side transaction to help them move, and a few years down the road another listing because they’ve decided to move into an assisted living community.

Isn’t that amazing?

It’s the power of having meaningful, perfectly-timed conversations combined with solid repeat and referral systems…vs. data capture…

Honestly confront the reality of today’s consumer and the fact that they can see through all the automation tools and there is no real connection unless you have a meaningful conversation.

It’s a harsh reality, but it’s the truth.

I’m not one of those “touchy-feely” kind of guys, but facts are facts. Real estate is all about relationships and you need to fight hard to initiate, build and deepen your relationship base…or the network you thought was solid may soon be at risk.

Always remember…leads are NOT conversations!

As real estate professionals we’ve got to get back to basics. Real estate is fundamentally always going to be a relationship driven business and relationships start by talking to people…having perfectly-timed conversations and bonding with people.

Now here’s my challenge to you, over the next couple days find an hour or two to deeply contemplate the effects of lead generation vs. having perfectly-timed conversations.