lead cultivation

All posts tagged lead cultivation

To Be A FSBO… Or Not

Published February 4, 2017 by Real Estate Leads

We’ll start this week’s post by explaining that we’re well aware that this is a real estate topics blog and that the majority of our readership will be real estate professionals who’ll be well aware of what exactly ‘FSBO’ means. We’re going to take a quick moment though, to explain this wacky acronym to anyone who’s not so familiar with it.

For Sale By OwnerFSBO (fizz-bo) stands for For Sale By Owner, and it’s a term used to describe a homeowner who’s made the decision to list and sell their home on their own, without the assistance of a realtor. Now we’re similarly aware that the same majority of you will obviously recommend against such a practice with vehemence, but let’s take a look at some of the pros and cons to being a FSBO. After all, being a well-informed realtor who can offer perspectives without bias or prejudice reflects very well upon you and it’s good to be able to appraise prospective clients of both sides of the coin, no matter how it may end up.


  1. Avoiding Commission

This one’s simple to understand from the seller’s perspective, as much as it’s in contradiction to your interests as a listing agent. On average, they’ll pay about 6% to sell their home—split evenly between you and the buyer’s agent. They should factor in the realtor’s commission when determining the asking price for their property. Their decided-upon sale price should be enough to pay off the remaining mortgage balance on the property, plus pay the commission. If that calculation leaves a little bit to be desired, this is one reason they might consider becoming a FSBO.

  1. There are Plenty of Selling Resources These Days

The days of creating your own yard sign and then putting an ad in the local newspaper’s classified section are long gone. Now there are an array of resources available to help you sell a home. These included locale-specific real estate purchase agreements that can be found online, and local title companies or a real estate attorney can help with the legalities and answer questions – often online as well if you can’t contact them in person or by another means. This is huge for folks in more rural areas. Perhaps more important though are the excellent resources available on the web for advertising your property. You can include photos of your house, as well as detailed information about the property, including the number of bedrooms, upgrades, square footage and other features. The Internet is pretty much the greatest thing to ever happen to FSBOs!

  1. Sense of Accomplishment

This one doesn’t need a whole lot of explanation. If you’re the type who likes doing all manner of things yourself, and saving money accordingly – you’d probably make a great and determined FSBO.


  1. Lack of Access to MLS (Multiple Listings Service)

This is definitely drawback numero uno when it comes to choosing to go FSBO as compared to working with a real estate agent. Working within a city or town’s MLS is restricted to participating (and paying) realtors exclusively, and having a home for sale featured in the MLS is of paramount effectiveness in putting the home in front of the largest number of buyers and the realtors they’re working with. It’s pretty much the bible in this regard, and selling your home without having it featured there puts you at an immediate disadvantage when it comes to exposure and finding the ‘right’ types of prospective buyers – no doubt about it.

  1. Lack of an Industry-Professionals Advice Regarding Pricing, Etc.

A qualified and experienced realtor is often invaluable with the way he or she understands the value of a home in the bigger context of the ever-changing housing market in any specific locale. You may think your home is worth X-amount – and you may have some very solid reference points in coming up with that number – but it may simply not be a realistic asking price given the conditions of the market and any of the other factors that can come into play. The majority of which are beyond the scope of understanding for anyone other than a professional realtor.

Pricing yourself realistically but fairly goes a long way in having you sell the home within the timeline you envision, and FSBOs often struggle right out of the gate this way.

  1. Being Overwhelmed / Intimidated with Requisite Paperwork

There’s a LOT of paperwork involved in selling or buying a home, and often more than the average person could ever imagine possible. Without having a realtor who’s gone through these documents many times previously on your side, you may well find yourself moving along at a snail’s pace, and becoming immensely frustrated accordingly.

  1. You Alone are the Open House Coordinator

This one’s also fairly self-explanatory. Prospective buyers will always want to tour homes they’re considering buying, and if you choose not to work with a realtor you’re very much on your own when it comes to scheduling, staging, promoting and so on and so forth. An agent can filter calls and inquiries from other real estate agents and coordinate open houses and showings for your property, so you can go about your everyday life and not have to concern yourself with it – and it always involves a LOT of concerns. And last but not least, a realtor can speak of your home and it’s attractive features and amenities in a smooth, convincing manner in a way you simply can’t. It’s a developed skill.

Here at Real Estate Leads, we provide realtors with qualified leads generated online and exclusive to them and their region in Canada. We also like to talk about trends in real estate, and if you’ve got anything to add to this post or any other we’d like to hear what you’ve got to say!

The Big Benefits of Proper Lead Cultivation

Published June 13, 2016 by Real Estate Leads


There is a myth in the industry that we wish to focus on. Real estate agents who are closing a disproportionate number of deals are not getting better leads – truly they are performing a better job at nurturing the leads that are coming in to them. To those who feel that they are struggling, this insight is good to know as it means that you have more power and control than you might have thought before.

Really conversion rates are dependent not so much on your lead generation system or techniques (although that has some weight) but what will mainly drive your success is the on the effort (and finesse) you put into lead follow-up.

Even more wonderful news is that you will not be tasked with reinventing the wheel to efficiently convert leads. What is critical is to develop good follow-up habits which will provide higher conversion rates for you.

The Element of Speed

If you secured constant web leads each day – which you have done if you are lucky enough to have an account with – then you might just think everything is set. However, our lead service is only half the equation for success; the other half is naturally up to you. So if you are not calling your leads then you are definitely not on a path for high-conversion rates. Various studies have pointed out that calling your leads within the first 5-10 minutes enable much better results even than calling 10-30 minutes or more or later. What are they doing after 10 minutes of submitting their information on the internet? Chances are they are in an anxious mode and perhaps already dialing another agent, or perhaps they are just engaging back into their work, domestic duties, or regular routine.

Studies have shown that most leads will work with the 1st agent they engage in a conversation with; even if they speak to some other ones afterwards. Of course, this also depends on how well you tell them what they are hoping to hear without being dishonest. So if you call a lead in those five to ten minutes; you are making a good impression – and so you are also most likely to be the agent of choice that will they end up working with. One study reported that quick lead response positively impacts lead conversion by 230%.

The reason why most agents don’t pick up the phone as they should is not so much because they are lazy, but often because they feel afraid to fail. Failing sometimes is always guaranteed, but as the old adage goes – “no pain – no gain.” A tried & tested way of overcoming calling fears is rehearsal of scripts. For great script examples, see our previous article on that topic. So every time you make a call, you have a fine tuned the script right in front of your eyes, so you effectively reduce your chances of losing control of the conversation.

The Art of Following-up

Again an immediate reaction to a online lead should be calling them about 5 minutes after the lead was delivered to you – despite any automated email that might have been sent. Not every lead is going to answer your call immediately, but with today’s smartphones – they should be able to see that you called – and they will appreciate that when you are able to get a hold of them. It should be repeated again NOT just send an a manual or automated email – that is, unless you want to be a member of the big bucket of agents who convert less that 10% of leads. Realistically you can push that number higher that 50%, or more.

If nobody answers your first call,leave a voicemail and perhaps also send a text if it is a mobile number. Your text will most likely be full read in any case. Also, if you have it set-up – automated home searches sent from your website and drip campaigns are both good methods for keeping in touch.

The biggest mistake you can make, other than being rude or insulting to the prospect, is to decide to stop following up with a lead because you quickly feel you are not getting the response you hoped for. But if a lead specifically asks you to stop, you should continue to follow-up with them at least by email or text; or even by snail mail if you have an address.

Not all leads are ready right to talk away. As you might already know, a small percentage of leads will either sell or buy (or both) within a few months. Most leads actually take up to a year (and in some cases longer) before they will take the plunge. However, your job in the meantime is to make sure you are in their line of sight, so to speak, whenever they are ready.

Setting up a meeting with your lead, face to face, is equally crucial as a call. Negotiate with them on the phone to initially schedule an appointment for discussion over a cup of coffee. Another idea is to invite them to one of your open houses for a more light-hearted approach. Nothing beats real physical visual interaction. If you can swing it, try to arrange for a skype video call with them.

The main idea is to build rapport and therefore meeting your leads in person too. Choose voice calling over email or sms – those are a dime a dozen sort of speaking. Of course you know this, but it goes in line with this train of thought – purchasing a house is probably one of the biggest decisions and investments your leads will ever make. Therefore, they will probably want to take their time, so feel them out and react likewise. Use their feedback to build their trust in you.

With a smart and strong system in place, you can practice with every lead to iron out the art of following up and working those leads down. The net result of doing this better = more deals.


Don’t be disillusioned. Follow up with leads is a lot of work, but such efforts will turn into your bread & butter. You shouldn’t just go at it freestyle. Each new lead should be another chance to perfect your communication skills. Best wishes from your secret helpers at