canadian leads

All posts tagged canadian leads

Redfin The Next Disruptor to Arrive in Canadian Real Estate Business

Published February 19, 2019 by Real Estate Leads

We’ve talked briefly in the past about how the trend of industry disruptors has extended to the Real Estate world as well, and as we are now firmly into 2019 we are seeing yet another example of it again. Indeed, the ways the real estate business has been for many decades have changed very drastically over the course of just the last one, and as you might expect these changes have been very primarily fuelled by advances in digital technology.

As a realtor, one of the things that you must do is accept the reality of the situation. That reality is that these advances make it more of a challenge for you to work as a realtor exclusively in traditional means and approaches and still have the type of success that you envision for yourself. You definitely need to adapt, and revise your strategies and skillsets offered because, as we’ll discuss here today, there are new disruptors arriving in Real Estate all the time and that’s not likely to change.

Here at Real Estate Leads, our online real estate lead generation system is one major advantage for realtors that relies on the same trend where advances in digital technology are coming fast and furious. It leverages the power of the internet to provide real buyer and seller leads based on prospective buyers and sellers filling out forms online. There’s more to it than that, but long story short what you can know is that our service is one digital technology advancement that you can – and should – see very favourably.

Redfin Arrives in Canada in March

Now Redfin, like PurpleBricks before it, is yet another entry into the real estate business that most realtors will have difficulty seeing favourably. That’s because it markets itself as a more affordable way for people to buy and sell homes, and there’s no getting around the fact that services like Redfin and PurpleBricks eliminate a lot of the need for what you’re able to provide as a realtor. Not ALL of it, but a good portion of it.

We’ll say briefly that these types of websites and their services certainly won’t eliminate the need for realtors, but it is changing the playing field for sure. Let’s have a look at this.

Redfin is based in Seattle and will open in Toronto and Vancouver by March. It has plans to expand to other major Canadian markets once well-established in Canada’s 2 largest urban metro centres.

Redfin is a technology-powered brokerage that will have its own agents working in their offices while delivering much of the same services that you do as a realtor. You do it in person, they do it remotely via the Internet. That’s the start of what you need to understand about Redfin.

Redfin was built on the understanding that nowadays so many consumers start their search online. Being a technology-first brokerage helps them meet customers at a lower cost, and obviously that’s a HUGE benefit for the prospective home buyer or seller. Having services provided online means a streamlining of many of the processes that would require some back-and-forth, and time delays, when these customers are working person-to-person with a real estate agent.

Since 2006, Redfin has established its presence in more than 85 markets in the USA, and now Redfin’s website and mobile apps will show all homes for sale through the local MLS in Toronto and Vancouver. It will also put sold prices in those markets on display, whereas previously clients requested that information from their realtor and then waited for him or her to get back to them with it.

Canadian Market Plans

Redfin’s aim is to eventually offer services in other major Canadian cities, but that will obviously take time. For those of you working in the GTA or GVA, however, this powerful competitor is arriving soon and is expected to take root quite quickly. You still have the ability to prospect clients in traditional ways, and many people will still prefer the in-person service and human interaction / trust part of working with a local real estate agent.

That said, all realtors are going to lose prospective clients to these types of services with Redfin and PurpleBricks. That’s the just the way it is. You may need to rethink and reorient your service and promotion platforms and how you present yourself to clients, and it may be something you need help with. If so, don’t be afraid to go back to the drawing board with a real estate business consultant expert.

Take note of the fact that salespeople working for Redfin will be employees of the company – not independent contractors – and will be paid bonuses based in part on customer satisfaction. The number of agents in individual Canadian offices would be a reflection of how busy those offices become.

Agents won’t be recruited in the way a conventional real estate brokerage does, rather customers will be recruited and then agents will be brought in based on the level of increased demand.

Redfin will charge home sellers a 1% listing fee, and the remote agents will provide complete home-selling services, including pricing and staging advice, free professional photography, a 3D walkthrough of the home, open houses, yard signs and nicely designed and put together marketing materials.

That’s right – a lot of what a realtor did him or herself in person for decades. Times change, and you need to change with them.

Big Potential Savings a Necessity for Many Now

Redfin has provided estimates on what they’re able to offer in the way of savings; for example, a seller in Toronto will save $11,250 on a $750,000 home sale when compared to paying a listing commission of 2.5%. The listing fee does not include a buyer’s agent commission, but that’s paid by the seller here with Redfin.

The appeal of services like Redfin are furthered by the reality that nowadays it’s harder to get a loan. Foreign investment has driven prices up, and there’s ever-greater numbers of people who need every last dollar possible put towards the house. In such a scenario, the cost savings made possible with services like these are obviously going to appeal to a lot of people.

Lastly the Redfin model rewards customer service, so agents are accountable to deliver the best outcome for their clients. Customers are asked to review the service they received from their Redfin agent, whether they buy or sell a home or not. The reviews will then be published on the agent’s online profile, and agent bonuses will then be based on these reviews – among other factors.

The New Realities

These ‘disruptors’ aren’t going to stop arriving any time soon, and they’re being seen in all sorts of different businesses and industries that have been the same way for decades up until now. It’s a trend that’s here to stay, and overall it’s a good one as it puts more clout back in the hands of the consumer and we ALL benefit from that – yourself included.

As a realtor, you’re going to have to adapt and, as mentioned, revisit all of your business promotion and marketing approaches to ensure you continue to have the same flow of business you’ve become accustomed to. If you’re starting out, you may be at an advantage as this ‘new reality’ will be the only reality you’ve ever known.

Experienced or new to the business, all realtors should sign up with Real Estate Leads here and receive a monthly quota of qualified, online generated leads delivered to them exclusively for their similarly-exclusively served region of any city or town in Canada. Once you have it, it’s yours and yours alone and only you will receive the buyer and / or seller leads for it. Most realtors who’ve already jumped on the opportunity now see it as marketing budget well spent, and we’re sure you’ll find it to be the same.

3 Solid Strategies for Move-Up Buyers

Published July 17, 2018 by Real Estate Leads

Moving up has always been a common strategy for homeowners looking to work their way into the home that is going to suit them long term. My parents started in the smallest of row homes here on the West Coast of Canada some 30+ years ago and now they’ve got a beautiful large home with yard in one of the most beautiful parts of the country. Real estate is an investment, and making judicious decisions when it comes to purchasing real estate with the idea of selling the home for profit in the future is very important.

A good realtor is a knowledgeable and helpful realtor, and for those of you who are new to the business there’s so much you can learn – and share – about how to best buy real estate given your clients’ long term plans. Here at Real Estate Leads, our online real estate lead generation system is dynamite for getting your more in the way of qualified leads that you can contact and then have the opportunity to secure clients. We stress the word ‘opportunity’ though, because that’s all it is. Your prospective home buyers or sellers will expect you to know the business!

Moving up to their ‘forever home’ is exciting for people. Most move-up buyers typically will have some savings and home equity to work with, making their next move feel less like a compromise and more like a thoughtful selection. However, move-up buyers face their own set of challenges that call for a very evaluated and measured strategy.

Here are 3 options for your smart move-up homebuyers and sellers with a plan!

Sell First

The ‘sell first’ strategy is ideal for move-up buyers who are unable to afford to pay two mortgages simultaneously. Having them sell their property first eliminates the risk of having to carry two mortgages, conditional upon not selling the existing home in time. This also reduces the chances of them having to reduce their asking price in response to a need to speed up the sale. This is a good option for move-up buyers who are banking on the proceeds of their sale to fund their new (and likely more expensive) property. By selling first, they’ll know exactly how much money they have to purchase their next home.

Determining Suitable Asking Price

When homes in a clients’ area of choice are selling faster than the sign can hit the lawn, it’s often that a ‘buy first’ strategy is the way to go. Buying a new home before selling their old one removes any rush to settle into a sub-par property, or having to seek alternative temporary housing options while you continue the process. This move-up buyer still lives in his or her existing home and this allows them time to shop around, and keep on with looking until they find that perfect place. This move-up buyer will typically require a bridge mortgage.

Understanding Mortgage Options

Acquiring an agreeable mortgage as a move-up buyer approach is most ideal for anyone, but making that acquisition is increasingly challenging these days. Having clients align their purchase and sale closing dates can be tricky. It’s a 3-way dance – the client, the person they’re buying from, and the person who’s selling the property your clients would like to buy. Have them keeping in mind that they’ll also have to move out and move in on the same day, so time is their best friend if it can be managed effectively. This means they need to plan ahead – researching neighbourhoods, being pre-approved for a mortgage, and beginning the ‘purge’ that should come before a big move.

The right move-up buyer strategy of course depends on a number of factors, such as your clients’ financial situation, current housing market conditions, their personal comfort level and their predispositions as buyers. Have them consider all these when making their decision. You are the pro who’s there to ensure a smooth transaction on both sides of the bargaining table.

Sign up with Real Estate Leads here and receive a monthly quota of online-generated, qualified buyer and / or seller leads that are provided for you exclusively and for you similarly exclusively-served region of any city or town in Canada. It’s a great way to supercharge your prospecting efforts and build your client base when you make yourself as the expert who can help these people with a purchase of this kind of magnitude!

Six Hallmarks of Successful Real Estate Agents

Published October 30, 2017 by Real Estate Leads

It’s been a while since we offered a blog post that wasn’t related to the nature of the market or the ins and outs of buying or selling a home for clients. Statistics reflect ever greater numbers of realtors becoming REB certified in most major cities in Canada, and while that’s to be expected it still poses competition issues for those who are new to the ‘game’ and feel a real need to start building their business with some expediency.

Here at Real Estate Leads, we’re happy to make our online real estate lead generation system available as a means of allowing these new realtors to start getting in touch with legitimate prospective clients in their area. We of course extend that invite to all of you, whether you’re new to the real estate business or well experienced. But today let’s get back to the basics and share tried-n-true approaches to getting your establishing yourself as a successful realtor, and sooner rather than later!

They are Genuinely Passionate about Real Estate

Quite plainly, nothing is more important than a genuine passion for both homes AND putting people in the right one for them. You need to get a real ‘kick’ out of doing so, and it MUST be more than simply a means of getting your commission. We can’t state this strongly enough.

They Return Calls and Emails with Little to No Delay

These are the realtors that take the opportunity of a lead and make something out of it the majority of the time. They immediately make contact and they follow up, answering any questions and perfectly happy to stay on the phone with clients for as long as the client needs to stay on the phone. They are never disconnected from email, text, and phone and they don’t loosen up on that until the entire client-service experience and transaction is complete.

What this does is foster and understanding in the client that they are very important to you, and that’ obviously a huge plus. In addition, be open to switching your communication avenue to match the client’s preferences. If the client prefers text, then text. If the client prefers calls, then call. Pretty simple really.

They are Familiar and Capable with the Latest Tech

This may be a challenge for some, and older newer realtors in particular. If you’re not 100% adept with modern communication devices and applications, putting time (and perhaps money) into getting up to speed with them ASAP is highly recommended. Most successful realtors are all about their tablets and smartphones, and you’ll find many are also quite capable with higher-end DSLR cameras. They make sure they have great data plans so they are never stuck without a remote internet connection. They try to go paperless as much as possible. They put nearly as much time into learning about technology as they do learning about the changing real estate industry in Canada.

They Know Their Neighbourhoods Explicitly Well

You want to become a “neighbourhood expert” as soon as possible. All top agents are walking, talking encyclopedias of what the neighbourhood offers for a prospective new home owner considering buying in the area. They know what’s on the market, what has sold recently, and the overall status of the neighborhood, including planned changes and developments lined up for the future. Becoming this way doesn’t just ‘happen’, you have to put in the time to learn and always have your ear to the ground to stay on top of what’s new in the neighbourhood.

They Are Entirely Open and Transparent Regarding Their Work

Successful agents don’t just make themselves available and then conduct their work out of sight until the client has a buyer for their home, or a new home to buy. The best ones are very active in ensuring their actions are entirely on display and relatable for the client. When they meet with the client for the first time they explain the process, the potential roadblocks, and any of the more likely scenarios that could occur. They keep the client entirely in the know with negotiations, and in this regard it’s better to be ‘overloading’ the client with information rather than supply a ‘reasonable’ amount of it.

Further, they discuss any perceived need to adjust their strategy with the client very proactively. Try to aim to make yourself so transparent in your operations that it’s unlikely that clients would even have the need to inquire about what you’re doing. But when they do, go on at great length and be very clear in why you think it’s the best course of action.

They Generate Leads by Any and All Means Necessary

Leads are nothing more than opportunities, and not all opportunities will lead to a new client. This is true in many cases where even doing everything in your power isn’t going to convert the lead into a client. That’s the nature of the business, always has been and always will be. Smart agents are experimenters, they try out different types of lead sources, they explore different types of ad campaigns, and they analyze what works and what doesn’t. They understand that having a social media presence is important and that advertising and promotion efforts need to be constantly reevaluated and changed given the current climates in the business.

They Have GREAT Networks

The best and most successful agents don’t just have a network to generate clientele, they have a network of top-notch real estate agent partners who have the same understanding of what’s required of them to be the top agents they are. They know the best contractors, appraisers, lenders, and insurance providers in the business. Aim to be a hub of a group of professionals that can advise and assist with anything real estate or home related. Top agents care for their network and are happy to refer clients to other agents from whom they can rely on receiving the best service. Further, they know and can identify realtors who don’t make the grade in this regard. Admittedly, the second part of that equation is one that takes some time to acquire

The best realtors are knowledgeable, authentic, and equal parts driven and passionate to really help people find themselves in the right home for that stage of their life. You too can become one of them, and signing up with Real Estate Leads here is a great start to begin generating those ‘opportunities’ we’ve been talking about. Follow the tips we’ve laid out for you here and you’ll almost certainly see more of your opportunities successfully converted into clients.