Let’s face reality here. Most new agents have zero to very few dollars to invest in real estate marketing. Some have left full-time jobs, others are students, and a few are retirees who are living on a fixed income. They struggle with learning how to lead generate without money for marketing as real estate agents. However, it does not matter how you stumbled onto the roller coaster ride of real estate; it’s more important to survive. In order to survive, you must generate leads to convert into new clients. Here are 3 ways to do it without any money.
Cold Call Expired Leads and FSBOs
In any sales profession, using the phone is key to acquiring new business. As a new agent, you cannot avoid it. Therefore, you should be calling family and friends to seek referrals. Adding their contact information is good CRM. Eventually, those leads dry up, and you will need to get new leads by cold calling strangers. Is it scary? Not really. It is scarier to not have income. You cannot escape the struggle to lead generate without money.
However, every MLS has expired listings. You will need to view the listings and look up information about the owners in public records. Cold calling expired listings doesn’t require any fancy script. To be successful, it takes energy, passion, and consistency. Eventually, as your business grows, you can pay for expired leads and autodialers to speed up the process. You can also hire someone else to make the calls; this person is known as an ISA (Inside Sales Agent).
Without money for marketing, having a presence on social media can speed up your client acquisition plans a lot faster than being a secret agent can. The key to having online success is to engage your friends; you can also join groups that you find to be genuinely interesting. Engagement will make others feel comfortable with you, and they will genuinely want to help you.
Sphere of Influence
For people to do business with you or to refer business to you, they must know what you do. As soon as you can, get all of your friends and family in one room at a meet and greet, a happy hour event, or at any other creative event, at no cost to yourself, to announce your new career. Family and friends who care about you will want to help you.
In conclusion, if you have no luck with the above, try going door to door in your neighborhood, setting up a table outside of a popular hardware store, or giving flyers out in front of a supermarket. Most of all, have the desire to win and a positive attitude.