When it comes to Facebook generated leads, 90% of real estate agents are very skeptical. From our experience, the main objective they have is that those leads are cold (far in the beginning of the funnel).
I agree is this statement, however, this does not make leads total “garbage”. Why? Let’s discuss the main realtor’s objection in regards to Facebook leads.
There is no doubt that real estate Facebook leads will likely be cold. However, they a little warmer. They raised a hand and provided an agent with their personal contact information. But there is no relationship and loyalty yet.
Think about this. If any bank is trying to sell a credit card to a client and they have 2 options: contact a potential client, who saw the ad and submitted the form or a cold call to a random person trying to convince him to apply for a credit card. Which type of client will most likely to convert?
I cannot agree more. Most of the Facebook generated leads are 3-6 months out before making any sort of decision. Some even take a year or more.
From our experience, the conversion rate from Facebook ads is 1-1.5%. For every 100 leads generated monthly real estate agent gets roughly 1-1.5 transactions.
Do not forget that realtor gets 100 leads/month and the pipeline (database) is growing every month, therefore increasing amount of transactions monthly after a 3 month period
Converting Facebook generated leads takes a lot of effort and require a consistent nurturing for several months. Most leads can take up to 5-7 calls to connect and multiply touchpoints to convert.
This is where email and text sequences come to help real estate agents. This literally removes 90% of the realtor’s headache of following up with a potential client for the next 6 months.
For our real estate clients we set-up a 180-day buyer campaign or/and 60-day seller campaign, that educates prospects for the next months and keeps our clients on the top of their minds.
With Facebook lead generation ads real estate agents can complement if not completely remove their traditional advertisement and save tons of money and time.
It is crucial to start advertising on Facebook with the right expectations. There will be most likely no conversions in the first 3 months. Even though these leads are a little warmer because they provided their contact information, there is no loyalty and trust between a realtor and a potential client.
Always focus on good leads and exclude bad leads. Email and text sequences will help you filter your constantly growing pipeline.
Even with email automation, real estate agents need to have a proper system in place and are properly trained to follow-up with internet generated leads.