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I was honored to recently co-host a webinar – “Death to Lead Generation … Wait, What?” with RealScout Andrew Flachner. RealScout offers a search and decision-making platform that helps agents generate more offers from existing referrals and leads. In addition, the company has pioneered the idea of offer generation, which is a real game-changer in terms of how we think about leads in real estate.
As Andrew pointed out during our webinar, offer generation is not the name of a product, company or service. Rather, it’s a philosophy and process. “It’s time to shift gears,” he said. “We’ve become so good at generating leads that optimizing for offer generation and lead conversion has really taken a back seat.”
In other words: there is now a process that systematically and scalably converts client leads into transaction offers. This is a huge shift in the way that we think about generating and acting upon offers in order to turn them into successful transactions.
Flachner lists three reasons why agents should care about offer generation:
- Increased marketing ROI
- Happy clients, which lead to referrals and in turn lead to repeat business
- Making more money
If you’re thinking about the difference between lead generation and offer generation activities, consider that lead generation activities might include such things as content writing for blogs, farming neighborhoods by going door-to-door or old-fashioned advertising. In contrast, offer generation is far more value-driven. It’s based on getting your clients to commit to you – in other words, a more client-centric approach.
“At the end of the day, leads are the lifeblood,” Flachner said in our webinar. “You can’t have offer generation without lead generation. I challenge you to freeze your lead generation and invest resources into offer generation. It really will move the needle.”
In order to support this transition, RealScout places search capability at the front and center of its offerings. Using the concept of lifestyle search, which tracks and captures properties using criteria not listed in the MLS (for example, large backyard or renovated bathroom), RealScout continues its tradition of placing the client at the center of the offer generation process and ultimately within the transaction itself.
“If you’re looking for a way to smoothly transition clients from national portals,” Flachner said, “there’s truly nothing out there that compares.”
Calling it “the case of the mind-reader agent”, Flachner says that this area is where you can really differentiate yourself and become a large part of how a client buys a home.
“Because the way the clients describe their homes is not compatible with search technology,” he said, “lifestyle preferences are a far more preferable (search technique) than the lot size or interior square footage.”
How you can you use social media for offer generation?
One of the most important things that you can do is to create private client lists on Facebook and/or Twitter. Although you are probably chatting with your current clients almost daily, by connecting with them on social media can help you connect with them on a more personal level.
After you’ve created each list, make sure to scan each list weekly and comment on things that your clients post. Don’t comment on everything – but by taking the time to intentionally connect with your current clients will help you build that client relationship and will help them trust you more – which at the end of the day will help them move through the sales process even faster!
Remember, relationships are built with small interactions over the course of time – and every like, comment and share add up.
Here are a few resources that may help employing this strategy:
- Slideshare: 10 Twitter lists to create today
- 10 ways to use your personal Facebook profile for business
In the end, it becomes all about the client. Isn’t that the way it should be?
Download your free copy of the Offer Generation Playbook. This free eBook is a tremendous resource and will give you tons of ideas to add Offer Generation strategies into your business.