We always need to keep one important factor in mind in the real estate business and that is the competition. In our industry, “leads have legs.” Not only are "we" looking for new leads, but hundreds of other agents in our area are looking for those same leads. No one has "cornered the market" when it comes to lead generation. There are many players, and everyone has his/her own favorite approach to prospecting for leads.
We each do it differently, and there are many factors that come into play. Money is one very important component in prospecting for new leads. Direct mail marketing is a numbers game, and the greater the number of postcards to an area, the greater the return. It takes money each and every month to utilize this method.
Internet marketing is the least expensive. It requires consistent use, just as direct mail marketing, but without the expense. This method is how we market to the masses rather than “niche marketing” with direct mail.
Open house events are powerful, and face to face can't be replaced by any other method. There is nothing more effective than personal contact, and that's what open house events provide.
These are the methods the team members use to prospect for new leads. There are many more available to use, and we all need to prospect diligently to stay alive. Pick your poison, but remember that “leads have legs," and we are not "the only game in town."