Real Estate Leads for New Agents

What are Real Estate Leads?

For real estate agents, leads are contacts or people who have an interest in making a real estate transaction. Depending on the type of real estate you transact, leads can be buyers, sellers, or renters. For this blog, let’s provide some context on buyer and seller leads for those agents just getting started in the business.

Different Lead Types

• Sphere of Influence
  • The first and most common lead type realtors are introduced to is their sphere of influence. These leads are your family, friends, and those who already may know, like, and trust you.
  • This lead type is usually recommended first because you already have some sort of relationship with these people thus, you can simply reach out to them to see if they have any real estate goals; in this case, an interest in buying a home.
• For Sale by Owner
  • Next, the For sale by owner, also known as “FSBO” is a homeowner who is attempting to sell their own home without an agent. For one reason or another, this homeowner wants to sell their home but they have decided to not get professional help from a Realtor.
  • As a result, FSBO’s are leads because they have already shown that they could use the services of a real estate agent but, you will first have to find out what it would take for them to work with you.
• Expired
  • Expired leads are homes or sellers who were once on the market but failed to attract a qualified buyer. As a result of the time period between the agent and homeowner lapsing, the contract expires and the property is removed from the market by the broker.
  • Since the home failed to sell, the expired listing or owner becomes a lead because they still may be motivated to sell. This can be a very good lead because you already know the owner is willing to work with an agent but, for some reason, the home didn’t sell.
• Canceled
  • Similar to expired leads, canceled leads are properties that left the market likely prior to their term period. For one reason or another, the owner wanted to remove the home from the market and not sell it.
  • This is a lead because the owner could want to sell again in the future and they may not want to work with the same Realtor. If you know how to skip trace the owner’s contact information or contact the previous listing agent, you could ask some questions to find out if there is an opportunity for you to do business.
• Vacant Properties
  • Vacant leads are properties that do not have anyone living in them. Since no one is living in the home, the vacant house could be a hot lead for Realtors looking to find new business.
  • Since the home is vacant, you would simply need to contact the owner and find out if they were considering selling and assist them with the process. The good news is, that the home is already empty and ready for showings.

Real Estate Lead Generation for Real Estate Agents

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