Leads are the lifeblood of any real estate agent. When done properly they will provide a steady stream of exponential income. When done improperly they can drain an agent’s motivation and bank account. And what about Facebook leads specifically? Well, if you’re a real estate agent and you’ve been on the internet for longer than 5 minutes then you’ve probably heard this debate already:
“Facebook leads suck”
Nothing within the real estate community has been the center of such heated debate in recent memory.
My opinion? Facebook leads for real estate can suck OR be the single best investment you’ve ever made…if you can just understand some basic concepts.
Let’s begin with an acronym: PREF, which stands for:
Okay, next you have to realize that Facebook ads, by nature and design, are Interruptive Advertising. This means that although the algorithm does a really good job of putting relevant ads in front of an audience, the audience was not searching for that specific product or service at that specific moment. They were just scrolling and happen to have the same online behaviors as other people who have recently bought and sold real estate. So, although they might want your real estate services at some point in the future, they weren’t looking to hire anyone right now. And even if they were, they don’t know or trust you…yet.
This is where is PREF comes in:
The first step is to Prime the audience with a preface, usually, it’s that you’re an expert. This can be done in a million different ways. Some of the most common are:
- Video ads
- Articles written by you
- Client testimonials
- Market stat updates
Then you need to Remind them over and over again of this. Repetition does amazing things in the world of advertising, and after a while of seeing your ads they will generally accept you as the expert.
Once this is accomplished they’ll be more willing to take your advice on real estate matters. This is where you can propose a simple deal to the audience that you’ve primed and reminded that you’re the expert: You ask them to Exchange their contact info for some info of value regarding real estate, we call this a Lead Magnet.
Lead magnets can be many things. Some popular ones are:
- Buying or Selling Guides
- Mistakes To Avoid When Selling
- List Of Homes Under Average Local Price
- How To Pick A Great Realtor Guide
Once someone in this audience agrees to trade you their contact info for this Lead Magnet they are now officially a lead.
Congrats! You’re going to call them and they’re going to tell you to come right over and list their house or write an offer for them. Right? Nope. Not even close. (well, it does happen sometimes TBH). But if you thought this was the case then you are probably one of the people in the “Facebook leads suck” camp.
Remember what we said about Interruptive Advertising? Unlike Google PPC leads or Zillow leads, Facebook leads were not actively searching for your service when they gave you their contact info but they’re likely going to want it eventually. “Eventually” being the keyword here. The lead’s buying or selling window is much further out than those other 2 lead sources so you’ll have to know how to properly Follow Up with them while the lead inches closer and closer to their buying or selling window.
Some popular ways to follow up include:
- Listing Alert Emails
- SMS Messaging Automation
- Email Drip Automation
- ISA/Outbound calling
As the old saying goes: “The fortune is in the follow-up”, and it couldn’t be more true than it is with Facebook leads.
Due to their low cost and ability to generate high volume, Facebook leads can be the most profitable source of business for any real estate agent right now. You just need to fill your pipeline with a steady flow and stay top of mind with them as they approach their buying or selling window. Just remember PREF and you’ll do great!
Don’t have time to learn Facebook ads, create lead magnets, or manage campaigns on your own? Let us drive high-quality real estate buyer or seller leads to you, via optimized & managed Facebook ad campaigns, targeted for your specific tags and geo. Get started today!