Organic vs. Paid Leads: Which to Choose?
Organic leads are great – if you get them. Cost is always a consideration, but paid leads can be ideal for newbie agents who want to hit the ground running.
CHICAGO – Purchasing leads, even on a temporary basis, may be beneficial for real estate companies, according to Iron Valley Real Estate.
Organic lead generation may not be an option for all agents, especially those starting out with small networks.
“Buying leads can be a great way to jumpstart a new business,” Iron Valley suggests. “As with any business, entrepreneurs need to make smart investments that will provide opportunities for growth. Either as a Realtor who is starting out with a limited network or one that may have worked their entire database, spending money on leads may be the catapult to increased earnings.”
But Iron Valley notes that buying leads alone is not sufficient.
“Agents need to have the fortitude to work their leads, whether they are purchased or part of their existing circle,” it says. “Doing this requires agents to be well-versed in real estate while also having the ability to use foundational sales knowledge to build a personal connection and provide great service throughout each transaction.”
It’s also important to realize that a new lead is only the beginning, Iron Valley notes: “Building a system to stay in touch with clients after closing keeps you top of mind and opens doors for building your referral business for long-term revenue generation.”
Source: Realtor Magazine (09/01/23)