In this month’s Estate of Mind podcast, hosts Tami Simms and Jack Miller explore how to expand your sphere of influence through lead generation and social media. They are joined by special guest Lisa Culp Taylor, renowned for her unwavering commitment, professionalism, and exceptional service. As the leader of the LCT Team at Onward Real Estate, Lisa heads the #1 team in Tennessee for sales based on volume, according to RealTrends, and ranks #14 in the nation. Her expertise in residential resale, new construction, lot sales, and development has earned her a reputation for excellence.
Lead Generation
In luxury real estate, many seasoned agents traditionally prefer organic relationships over digital platforms for lead generation. However, there’s increasing interest in how digital strategies can complement traditional methods.
Lisa emphasizes the importance of digital marketing for supporting her large team. Platforms like Zillow and Realtor.com have proven valuable in generating leads. Despite Zillow’s mixed reputation, her team continues to find it essential for showcasing luxury listings and generating significant exposure. Though they often purchase leads originating from their own listings, the return on investment justifies the expense.
Jack notes that the value of specialized platforms that target specific demographics, such as relocating buyers. While these platforms may generate fewer leads, they often result in significant transactions, effectively supplementing organic business.
Social Media
Although some agents may not enjoy using social media or being in the spotlight, it remains a valuable tool for increasing exposure.
Measuring social media success often extends beyond direct lead generation; agents find that new or reconnecting clients already have a good understanding of their business, thanks to social media visibility. This helps maintain relationships and brand awareness, even with non-clients.
While there is a notable trend among ultra-wealthy clients to avoid social media, preferring to keep their personal lives off the Internet, studies show that many do engage at a passive level. In other words, they prefer to observe rather than participate, often following accounts without interacting.
For agents, especially those in the luxury market, social media may not always feel like it generates new business, but it plays a crucial role in maintaining relationships and conveying a personal and professional brand.
It is important to remember that potential clients often check social media before deciding to work with an agent, so the message and authenticity presented can be a large influence in their decision-making.
Expanding Your Sphere of Influence
Before purchasing leads, especially for newer agents, it’s crucial to seek references and thoroughly research platforms. Lead generation can be expensive, and not all platforms deliver as promised.
Additionally, leads require time and patience. They may not convert in the first week, month, or even year. Building a database through lead generation is a valuable long-term strategy, and success often comes from consistently working that database. Regular follow-up ensures that leads are actively managed, and even those who don’t respond immediately may refer others, demonstrating the value of persistence.
Working leads and databases are closely interconnected. Leads are only as valuable as the effort put into nurturing them, and this ties into many other aspects of effective real estate business management.
Managing Leads
In the luxury market, top agents are known for their focus during client interactions. While clients understand they aren’t the only priority, the best agents create an experience free of distractions.
Lisa’s team avoids the traditional “up system,” where agents take turns responding to leads. Instead, they use a dynamic approach—whoever is available responds first. This ensures quick responses without interrupting ongoing client interactions. Weekly team calls ensure accountability and review prospects and follow-ups to maximize lead generation efforts.
For individual agents, Tami recommends tools like a smartwatch to discreetly manage calls or messages during client meetings without breaking focus. A quick glance can identify the caller, and a preset message allows agents to communicate without disrupting the meeting.
A dedicated assistant can also be a valuable investment for managing leads. Over time, assistants become well-connected and knowledgeable, accelerating their growth and contributing to the team’s success. This personal touch often proves more effective than relying solely on technology.
We encourage you to listen to the full podcast to gain more insights:
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