Will Zillow Leads Grow My Business?
Whether you are a new agent or an old pro, both rookies and seasoned vets love new leads. Leads lead to closed deals. As a new person in the real estate industry who is essentially just launching their own brand, leads can be a little more challenging. Realtors who have been in the business for several years rely heavily on referrals. If a past client has a good experience, they tell their friends. Those friends may tell their friends and so on, and so on. When starting out, an option available to you is to pay for leads. When on a tight budget, this can sound like it would be impossible to do so. However, many agents including myself have found great success with Zillow paid leads. Here are a few key points to consider when deciding if paying for leads would work for you.
- There are an initial investment and a contract involved. You know the old adage, “it takes money to make money.” The world of real estate is no exception. You paid for real estate school and invested in yourself. You belong to your local MLS to have inside information and access to the homes you sell. You may have even bought some red-bottomed shoes or a designer suit to fit the part and be confident when you meet new clients. Paying for Zillow leads is an extension of the aforementioned. These leads that you build in your first year or 2 in business are quite likely to result in the same sort of referral network that you see the established agents in the office possess. If you grow your business with Zillow, you have the opportunity to reap what you sow in the future.
- Zillow charges by zip code and for what portion of that zip code you would like to receive leads in. This all goes back to farming. If there is a certain area of town you wish to focus on, inquire about being one of the premier agents in that zip code. You should always concentrate on areas you are very familiar with. A smart approach is to start farming in the city you live in. You can take advantage of free marketing by wearing your brokerage’s branded attire every time you hit the grocery store or go to the park. Free advertising (less the cost of that XYZ Realty hoodie) can be priceless. You would be amazed at how many people will stop you to talk about their house once they see that you are in the business. You are the neighborhood authority, after all. Never forget it!
- You may want to partner up with one or more other new agents in your office to tackle a zip code together. This will obviously offset the cost and strengthen your brand by building a team. A Zillow lead may call you to view a property. However, you are unavailable that day. Good thing you can tell that lead your colleague would be happy to show them the home! In that way, though you weren’t able to convert that new client-your agent partner(s) will be there to support you so you don’t lose this business to the broker down the street. Decide on something equitable on expenditure toward the Zillow account and sharing the proceeds of closed deals. Essentially an investment like Zillow can mean you could potentially earn your piece of the pie on transactions you were not even involved with. Teamwork makes the dream work.
Like anything in life, it is what you make of it. If you pay $200/month but never answer your phone, then perhaps Zillow leads aren’t the best choice for you. However, if you are hungry for business and want to potentially have your investment pay for itself five times over, it is worth talking to a representative to see if they have an option in your desired area that would suit your goals and budget. If nothing else, Zillow allows licensed agents to create a free profile which is a must have as a new agent. That gives you major exposure on the largest real estate network site on the web. Do your research and weigh your options. The more you know, the more you and your business will grow.
