Archive for the 'Real Estate Lead Generation' Category

Creating better alignment with real estate referral sources, such as mortgage brokers and mortgage lenders, is a crucial skill for any real estate sales professional in generating real estate leads.

In a potentially turbulent Canadian housing market, keeping your referral relationships strong can only help with generating real estate leads. Especially if you’re selling in a harder-to-afford neighbourhood, lead generation could be key to making a sale, even more so than before.

But how can you create better alignment with your referral sources, in particular mortgage brokers? Here are our top three tips:

  1. Know what tools your mortgage brokers are using.

If you are using GeoWarehouse, you want to encourage your mortgage brokers to use Purview, which is a similar tool that derives the same data — data supplied by Teranet and powered by POLARIS, the Province of Ontario Land Registration Information System. This ensures you’re looking at the same figures and information, which can cut down on significant back-and-forth time and speed up closings.

  1. Share information.

If you have generated a GeoWarehouse, property report, share it with your mortgage brokers. The information found within could help them, which in turn could help you. They’ll be able to see where you are getting your numbers and be on the same page as you.

  1. Emphasize teamwork.

Make sure your mortgage brokers know you are a resource to them and, when working on a deal, part of their team. Mortgage brokers can take care of financing issues and mortgage logistics, while you focus on the sale of the home. You could even take your teamwork to the next level by partnering on social media property marketing, having your mortgage brokers attend open houses, and other marketing initiatives.

Creating better alignment with your referral sources, such as mortgage brokers, can make a big difference in your business relationship. Working from the same data and tools can make closings that much simpler and more efficient — saving you both time, money, and headaches. It can be a win-win: you’re generating real estate leads and your brokers are gaining mortgage leads.

Teranet provides the data for both GeoWarehouse and Purview for Mortgage Brokers and for Lenders. This means that real estate sales professionals who use GeoWarehouse can improve alignment with mortgage brokers (and subsequently their mortgage lenders) by working with the same data — data that is the most current and accurate. This in turn can lead to not only more closings, but also faster closings.

GeoWarehouse has the most accurate and complete data for real estate sales professionals, while Purview for Mortgage Brokers has tools specific for your mortgage brokers. To learn more about GeoWarehouse, visit www.geowarehouse.ca. For more on Purview, visit www.purviewforbrokers.ca.

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It can be a difficult position to be in — you’ve specialized in a particular housing market for most of your career, and then the market shifts. Now the area you’ve specialized in that was once so lucrative is cooling, or even dried up and finding real estate leads is becoming nearly impossible.

Housing markets across Canada appear to be going through a shift. Changing interest rates, new Canadian mortgage rules, and higher household debt leaving much of the market uncertain. No one is sure what the real estate market future holds, but you may already be feeling an impact in your chosen market, especially when it comes to generating real estate leads.

What can you do? A changing housing market can be a challenge for any real estate sales professional. But as most of us learn the hard way, change is inevitable and there are ways to make the best of any bad situation.

First, if you’re working in a market that appears to be cooling, a simple solution is to consider expanding your reach. Look at demographic marketing. Demographic marketing is very easy once you understand a neighbourhood’s demographics. Marketing to the specific demographic that dominates the targeted community is smart and will enable you to be more impactful. For example, if you specialize in condos, look for areas where condo sales are doing well or where the population may be more likely to opt for condo living. If you specialize in income properties, you can use demographic marketing information to find neighbourhoods where those seeking income properties might be more likely to flock. If you serve a particular community or have another specialty, using the demographic information available to you could also serve you well.

The beauty of tools that provide insights into demographics is that you can glean important neighbourhood information without being personally familiar with the area or neighbourhood. In theory, demographics information should reveal all you need to know. It can tell you the types of families, ages of homeowners, types of residents (for example, renters vs. owners), amenities, and more.

Another way to key into important trends in different markets is using houseprice indexes. This can help you identify where markets might be cooling and where they might heat up. For example, if you specialize in condos and see that Toronto’s condo market is booming, you may want to expand your market to those neighbourhoods with renters and condo space available. Explore the latest Teranet houseprice index data.

A cooling market doesn’t have to be a bad thing. It can be an opportunity to expand your reach and explore new neighbourhoods. GeoWarehouse has the demographic marketing tools to help you decide on your new neighbourhood.

The GeoWarehouse Demographics Report tells you about who lives in the neighbourhood in which the property searched is located. Demographic data enables you to answer ALL of your client’s questions about an area, community and demographics. These include age distribution, marital status of residents, structural types of housing, owned/rented properties, average household income and much more. This can help you discover new real estate leads you may not have considered before.

Not a GeoWarehouse subscriber yet? Learn more about how you can use this powerful resource to easily and efficiently perform demographic searches.

Visit www.geowarehouse.ca.

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Real Estate Lead GenerationWhat makes the difference between a somewhat successful real estate sales career in Ontario and one that is very successful?  The answer is a rock solid plan for real estate lead generation. In this blog, we will cover some proven techniques that successful real estate professionals have adopted, and that can accelerate your real estate lead generation.

Social Influence

We all know that the arrival of social media has changed the way that we communicate, network and generate new business. In this regard, social influence is the key.

Put yourself in the shoes of your prospect.  Imagine you were having coffee with a colleague, and shared that you were thinking about purchasing a property. If your friend offered a recommendation, how likely would you be to take that recommendation? This is the whole premise of social influence, the only difference is that now recommendations occur online.

Let’s take Facebook as an example of social influence: if you were to ask a happy client to visit your Facebook page and post about their experience, the result would be that their connections would see the post in their feed. Someone else, who may be in the market to buy or sell a home, may be influenced by their connection’s positive experience with you.

In fact, statistics show that 1 in 3 people make a buying decision based on recommendations from those in their social networks. We know that finding time to manage social presences can be daunting, but starting with a single presence, that you check regularly, is a start. Here are techniques that you can employ to improve social influence within your networks:

  1. Create a Facebook presence that caters to your real estate endeavours (not your personal Facebook page).
  2. Anytime you meet someone invite them to join your network on Facebook.
  3. Anytime you close a deal, ask your client to post on your Facebook page with respect to their dealings with you.

In no time at all you will begin to see the fruits of your labour.

Thought Leadership and Recognition

Consumers want to deal with a professional who is a thought-leader in their field. You have access to many tools and resources that help you discover an abundance of information, so why not blog about them? Showing your prospects that you are knowledgeable and able to address all their questions is key.

Here is a great example: in Ontario, thousands of real estate sales professionals use GeoWarehouse to learn about sales histories, neighbourhood demographics and more. Why not share this knowledge with your online networks.

Here is how to do it: If there is a particular demographic that you want to speak to, write a quick blog about neighbourhoods that cater to that demographic. This will speak directly to those you want to market to and establish you as a thought-leader in an area that is important to them.

Being in the Right Communities to Expand Your Referral Networks

Referral relationships are an awesome way to generate ongoing volume business with little ongoing marketing investment. Sites like LinkedIn are amazing for this purpose. On LinkedIn you can join groups that are frequented by target referral sources; CAAMP is a great example. If you want to establish new referral relationships with mortgage brokers, the CAAMP group on LinkedIn is the perfect place to find them. Get connected to new referral opportunities on LinkedIn and then leverage the “Projects” module inside your LinkedIn profile to post listings and keep your connections in the loop with respect to your current listings. More exposure of your listings equals more sales.

Some other ideas could include posting to free classified sites like Kijiji, Craigslist and, where possible, paying to be a top sponsored listing. Sponsored listings on Kijiji are a very affordable way to gain a lot of exposure. Kijiji also gives you the ability to access a list of people who are posting looking for your services.

These are just a few examples of ways that you can leverage technology for the purpose of real estate lead generation. Join the conversation – what best techniques are you using to generate more business?

If you would like information about GeoWarehouse please visit www.geowarehouse.ca or call 1-866-237-5937.

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