It doesn’t always take money to make money, especially when it comes to real estate investing. The following 3 easy steps can boost your lead generation and rocket the ROI of your real estate investing business without having to open your wallet…
1. Respond to Inquires
Are you responding to prospects as quickly as you could be? It is truly a mystery why some real estate investing companies and agents bother to run ads or send out mail campaigns when they don’t bother to pick up the phone when people call. That is just a waste of time and money. How hard is it to at least pick up and tell someone you will call them back, direct phones to a $5 an hour virtual assistant to take down their information or simply set up auto reply messages for your email? Just by answering or replying before the competition you can dramatically increase your profits and deal volume. Don’t launch any new campaigns or do any more networking until you have responded to all your backed up leads and have committed to staying on top of them.
2. Make Every Client Count
Have you been frustrated by the antics of a store clerk or waiter in the last month? How did that make you feel about that brand and spending money there in the future? Ever been blown away by great customer service? Wouldn’t you prefer to spend your money there, even if the same product cost more because you felt valued and were treated right?
Don’t you think your prospects think and feel the same way when dealing with real estate investing companies and Realtors? You may be busy, they may not be educated on the home buying or selling process, they may not be dressed up and may not even be a good fit for your business right now but you may never have the chance to earn their business if you don’t take a few seconds to provide decent customer service.
3. Referrals are Cheaper
Recognize that referrals and repeat business is far cheaper than having to market for new prospects. The better you treat people the more referral business you will get. If it costs $300 to generate a new buyer or seller but just 15 minutes of your time to wow those you are working with now, resulting in a dozen referrals over the next couple of years, which provides the best ROI? It is true that they may not always be served up on a silver platter so remember to ask for the business and now you can market through your client’s social networks to tell their friends and contacts about your real estate investing business easily too.