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Added: June 1, 2010
Article rating: 3.67 (of 5) - 3 votes

How to Get Real Estate Leads Without Spending a Lot of Money

[ by Joe Stumpf ]
By the time you conclude a real estate transaction with your seller, you're practically best friends. They've seen you regularly, you've talked on the phone, you've exchanged emails, you may have sent text messages to each other, and you've helped them successfully complete a major change in their life.

And if you've done your job effectively, they'd be delighted to do something for you in return.

Especially when you make it easy for them.

What I'm suggesting is a strategy that is:

    * Easy - for your client and for you.
    * Inexpensive.
    * Effective: This is a tested, proven strategy that generates leads now and adds future prospects to your database.

I call it the "Endorsement Letter." You write it for your client, then give it to them and ask if they'd be comfortable with your mailing it to 100 of their neighbors. Leave the letter with your client for a day or two so they can think about it, and make changes if they want to. Once the letter is finalized, print 100 copies on plain white paper and give them to your clients to sign - their signature will give your letter much more credibility. Express your gratitude for the endorsement that may lead to future referrals and the growth of your business.

Ask your client for permission to use their address as the return address on the envelope, then handwrite both their address and each recipient's address. Again, this is for credibility - a handwritten envelope makes your letter much more likely to be opened, read - and acted upon. Be sure to keep your master list of the 100 names and addresses so you can track who responds to your letter.

Here's the letter example and, yes, unlike my usual coaching, this is one of those rare occasions when it is, indeed, all about you.

Just change the italics to the information appropriate for each client. Lenders, you can easily adapt this letter for your re-fi clients:

Dear Neighbor,

I recently sold my home at 12900 Willow Creek Road in Kentwood and am moving to 553 Dearborn Street in South Park. I'm going to miss the tree-lined streets and all the dog lovers, but I'm trading all that for a brand-new home with a huge yard nearer to where my parents live.

I want to share with you my experience of working with Ralph Williams during the selling of my home. Quite simply, I highly recommend him to you, should you ever need real estate services. I first met Ralph when I was referred to him by a dear friend. I was extremely impressed with his professionalism and enthusiasm. When it came time for us to sell, I had no doubts about whom to call.

From day one, Ralph put my needs first. He was always responsive and sympathetic, left no detail uncovered and had high standards of excellence. I have sold homes in the past and never received this special kind of service.

Ralph's knowledge of the real estate market is obvious. (Give an example here of your extensive knowledge of real estate.)

His marketing skills are second to none. We were thrilled with a technique he calls (give an example of your marketing skills). Ask him about it when you call him - his number is 800-000-0000.

As a thank you to Ralph for all he did for us, we're letting people know firsthand that he's been a wonderful resource. If you have questions about the current value of your home or what the market is doing, I highly recommend contacting Ralph.

Your (former) neighbor,

(Mary's signature)

Mary Anderson

As I said earlier:

    * Easy.
    * Inexpensive.
    * Effective.

Now, one caveat:

Earlier when I said "add future prospects to your database," I was not suggesting you add any of these 100 names unless they contact you. Remember, this is a letter from your client - not from you. It's up to the recipients to contact you now, or sometime in the future.

But with such a glowing endorsement - why wouldn't people contact you?

Using this strategy with every seller or re-fi is some of the least expensive - and most effective - marketing you'll ever do.


About the Author:

For more than 20 years Joe Stumpf has trained and coached the most successful real estate and mortgage professionals in North America on the systems and strategies for building a highly profitable referral-based business. Joe Stumpf's By Referral Only provides you with expert coaching, turn-key business systems and revenue generating marketing strategies so you can absolutely dominate your market.

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