Need to diversify your lead-generation portfolio? We’re going to give you a variety of low-cost/no-cost methods that you can use to generate leads in different lead generation channels, or “spokes”.
I'm so glad you're asking about how to add spokes to your lead generation wheel. The fact that you're asking that question probably means that you understand that concept, but let's review what we're talking about when we say spokes on the wheel of lead generation. First, the spokes concept is one of the unique things about our coaching organization. Because we have actually sold real estate at a very high level we know that it takes more than a few methods of lead generation to keep the lights on, or replace your previous job, or even supplement the income of your other job.
Manny coaching organizations, brokers or agents will say that all you have to do is get a Realtor.com account, rely on Zillow leads or just talk to your past clients. We have lovingly nicknamed those agents the "one spoke wonders." Here's the problem: If you rely on just one revenue stream (or spoke) to talk to , like your family and friends, then who are you going to talk to after the first 6 months in the business? We would all love that kind of friends n' family business, but it's not sustainable. At some point you're going to run out of deals. Now, some of you have better centers of influence than others and you might have survived eighteen months or two to three years, especially during times where there were not a lot of barriers to getting deals done, but eventually that spoke is going to run dry.
Imagine a brand new bicycle that you're taking to the park. You put it together yourself and OK there were a couple of parts left over, but it seems to track along pretty well, even though it's only got one spoke on its front wheel. You figure, it's a really strong titanium spoke! Now, you're riding along and everything seems fine, but then you hit a rock or a hole in the ground. What happens? You almost immediately crash and skin your knees! Thankfully its not your head! That's what happens when you have one spoke on your bicycle wheel and that's what happens in real estate when you only have one spoke; the economy changes and your past clients and centers of influence were buying flips with you and then the great recession hits and people aren't buying and selling for fun anymore!
What do you do now? The smart agent added the short sale spoke to their lead generation wheel and not only survived, but thrived! The strongest agents did both; they kept talking to their past kinds and centers of influence while doing short sales and maybe even REO's. Maybe they also got into new construction? They had multiple spokes! So, as you can see from our analogy of the bicycle wheel, you're going to have to have as many spokes as you can to create that front bicycle wheel. When you take your bike to the park and hit the same rock, you're not even going to feel it! Why? Because you've taken time to develop your expired spoke or your probate spoke or you past client spoke. Maybe you're not going to do a past client deal for next six months, but because you've got these other spokes going on, you don't even feel it. You're still trucking along at the volume necessary to not just keep the lights on, but also to live the life of your dreams!
Now to answer the question "What should I be adding to my wheel?" Remember: Each of your wheels will look different. Some of you are deeply into a probate and short sale and you like first time buyers. Maybe that's your three strong spokes. Others of you have an incredibly strong past client center of influence spoke and within that there are many spokes that you have going on. So we've given you a variety to get you thinking about this, and of course, you can always refer back to the regular website and ask questions on the weekly call. I have posted for you some things to get you thinking and to expose you to the potential different kinds of lead generators that you could be pursuing. Now I don't want you pursuing more than two at a time. Ideally, only one, so that you can get great at it and not just dabble in it. I've started you out with the PDF 25 Surefire Lead Generators
and we also have an Introduction to Expired
and Making Money with For Sale by Owners
If probate is an are you're interested in, we have a coaching call about probate
as well as the script that goes with that. You've got the 12 Month Lead Generation plan that's all about working your past clients and centers of influence. If the high end market is a spoke you're interested in adding, we have How to Sell Luxury Real Estate
podcast with Michael Gordon. I think you'll be fascinated by his interview if you're curious about luxury or you've been working your way up to that story.
There's a variety of different spoke building ideas and tools that I've suggested. All you have to do is now take action on these one at a time. Give yourself time to jot down some notes think about it. Ask us additional questions if you need to, but get start implementing! Below, I've included the link to scripts for you to use in the various different spokes.
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