While lead generation is essential for the success of your business, finding new leads should not break the bank, but be a daily part of proper business management. The following effective strategies for generating leads also happen to be cost effective.  

1. Open Houses 

This might seem obvious, but not all open houses are created equally. The easiest and most effective way for Realtors to gain leads from an open house is to get as many people to attend them as possible. Most people don’t look online for open houses, they are out driving or walking, see a sign, and go investigate if they have any interest whatsoever in the housing market. Sometimes people come because they are thinking about selling or buying, and sometimes they are just investigating the area for future home research. Either way, if you can get their contact information and give them yours, there is a significant chance it could lead to future business. 

2. Calling Both FSBOs and Expireds 

Many people attempt to sell their home without a real estate agent because they have had negative experiences in the past. However, those same sellers might realize the difficulty in selling their own home after trying it for a few weeks. Your job is to have an open, informative conversation with FSBOs and let them know that you are there to help if they need it. The trick is not to be too pushy, just offer some advice or information, and then give them your contact information and let them decide to call you. The same goes for expireds. People whose homes have expired are often at a loss as to what their next step should be, so again, offer them helpful information and give them your contact information and they might just decide to let you help them complete the sale of their home.  

3. Market to Divorce and Probate Attorneys 

Unfortunately, divorce is extremely common in today’s society. It is safe to say that death and divorce happen in every market. From a real estate agent’s perspective, both life events mean the potential sale of a property. Therefore, marketing to divorce and probate lawyers could result in a number of leads as they pass your information along to clients. 

4. Attend HOA Meetings 

Being involved with and learning about communities can be a very productive use of your time, as members of that community simultaneously become familiar with you and could turn into potential leads. This again goes back to local market knowledge. It also gives you a detailed understanding of the specific market that community is in, so that you know the types of buyers and sellers best suited to the community, and you can market any future homes in the community appropriately.