Updated: May 31
In our area there is a split between realtors- those who pay for leads and those who do not. There is a ton of debate over this concept and I will say- as someone who came into real estate broke with no prospects and DID make it, I see both sides.
The truth is paid leads can be great if used as a stepping stone. If you are only closing paid leads and not receiving referrals from said paid lead- you are working yourself into the ground and working much harder than need be.
You can also build an incredible business without working paid leads.
I will be honest with you- working referrals is so much easier than working paid leads, because of many reasons and the main one being time. Referral work allows you to have a life outside of your business. When a referral comes in, they are ready to work with you (most of the time) and are willing to wait. When a paid lead comes in you have to get it within minutes, regardless if you are at a wedding, or you lose the lead and the money you paid for the lead.
Referrals are work too. They are the long game work. You do well now to receive more in the future- unpromised. Referrals are made through real relationships that have nothing to do with the transaction or business. If you master relationships, you can build an incredible business that is not dependent on a platform or purchases.
One difference is referrals allow you to have a life outside of the clients wants or needs. Referrals also allow you to give the best of you, to your clients and loved ones.
Another big difference is life gets much easier when you work with people who like you and vice versa. That is most probable to happen through referrals and less through paid leads. Paid leads are more like a bag of mixed nuts. Referrals tend to send you more people that have similarities that are compatible with you.
There is a process to create more referrals. If you are looking to move away from purchased leads and more into a business, let's talk!
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