It’s no secret that the housing industry is facing inventory challenges right now.
The most recent data from NAR indicates there is a 2.6-month supply of inventory in the US. A balanced market is 4.5 months, which means most areas will have to increase active listings by nearly two-fold to return to normal industry levels.
Until then, the industry will continue to face competition for listings, especially for highly desirable properties that are priced to sell. According to Agent Image Co-founder Jon Krabbe, brokers and agents need to focus on their digital strategy to set themselves apart and generate leads.
“Data tells us most real estate consumers either start their search or verify a business reputation online,” Krabbe said. “Therefore, having a unique and compelling brand and a strong digital strategy is critical to converting leads to listings.”
How can brokers and agents generate seller leads in this tight inventory environment?
According to Krabbe, brokers and agents can generate seller leads by focusing on individuals who want to list their property and buy into a new one, particularly Millennials and Gen X, who started 2022 with $42.6 trillion in wealth and are in prime home-buying age.
So how do brokers and agents effectively market to this audience?
The challenge is that brokerage leaders have to remind agents to market to their audience – which is getting younger – rather than themselves and their peers. And that younger audience relies on digital routes for their search.
“I meet real estate professionals of all ages who don’t embrace a lead search strategy using search engines and social media because it feels too overwhelming,” Krabbe said. “Companies like ours who are trained experts and have enterprise-level partnerships with Google and Meta can help. It’s too valuable a lead gen tool to leave on the table.”
Krabbe said one way to get in front of property owners is to utilize Google Ads.
“At Agent Image, we’ve been known to create campaigns that target current homeowners looking to downgrade or upgrade their houses,” he said. “Because of that, our clients can speak directly to individuals who otherwise would just sit and wait when in reality they want to sell.”
Google Screened is another valuable solution that agents should take advantage of if they qualify and it is available in their market. The feature generates a converted top-of-page or position zero results and enhances a user’s online reputation.
Lead Generation with Agent Image
Agent Image is a full-service agency that helps agents, teams, and brokers generate leads using three methodologies, Krabbe said.
- Search engine optimization (SEO) through the creation of custom organic content that aligns with the client’s business goals. “We do this by looking at keyword demand plus our client’s competitors, reviews, and backlinks. Once we start an SEO campaign, traffic is generated strategically, and we track goals aligned to phone calls, email subscriptions, and regular IDX sign-ups,” Krabbe said.
- Paid advertising that targets generating buyer leads, seller leads, or both. “We try to ensure we generate a handsome amount of phone calls, leads, or customized web appointments (depending on the tech the business subscribes to),” Krabbe said. “We generally dial in our paid campaigns with best practices, and our top lead gen experts personally ensure they pass our criteria”.
- Strategic partnerships with vetted, best-in-class vendors can complement a lead gen strategy by providing solutions like CRM, speed-to-lead technology, appointment booking, and remarketing using a client’s old data. “There are so many options today – clients need experts they trust to provide a one-stop solution for all the technology that drives a lead generation strategy,” Krabbe said. “At Agent Image, we have evolved into the agency that powers the process.”
For more information on partnering with Agent Image, visit agentimage.com.