Over a decade, we have done real estate lead generation for over 1100+ real estate brokers across different countries, different cities, different segments, and different price ranges. And we never stopped learning from the kind of projects we worked for, the real estate leads we generated, how many of them were qualified, how many we had to replace, and also, the few clients we had to issue refunds to.
We realised that no matter what you do, you just cannot generate good leads for projects that are not saleable. If the project’s pricing is too high in comparison to the micromarket where it is located, the developer’s previous projects kept getting delayed, and buyer intent for the project is weak, it’s difficult to generate leads for it and if we somehow manage to bring in good leads, they hardly convert.
Thus, choosing the right project is essential for a real estate broker to get real bookings.
We never hoard our insights. We love to share them.
Many of our precious clients, who have become our friends over the years, call us and ask us which projects they should work on. This blog caters to all those who are in the same dilemma. Here are some tips for choosing the right real estate project as a real estate broker:
1. Are Location Benefits of the Real Estate Project Real or Perceived?
At AAJneeti Connect Ltd. (ACL), we look at the location and neighbourhood of the project to decide how to pitch it, what should be the messaging of the ad campaign we use for it. End buyers usually look for a project in a residential micro-market where people are already living. If the brochure of the project only talks about future promises of the location, we target investors for it.
End buyers look for roads that exist, want to know how much the traffic is at peak hours, whether public transport is easily available in the area, and the daily-use ecosystem (such as schools, hospitals, malls, markets, etc.) that exists within 10-15 minutes of the project. Planned roads are for investors.
Leads are easiest to generate for gated communities or townships where 300+ families are already living (for example, Phase 2 or Phase 3 of some projects) or builder floors and villas with permanent residents. It is easier to study what kind of buyers get attracted to such properties and might be converted more easily. Our real estate ad campaigns zoom in on such prospective buyers. The good news is that conversion rates are often high in such cases.
If people find it difficult to reach the project during site visit, they are likely to drop off.
At ACL, we notice which projects are getting the most attention from brokers we work with. That’s a good indicator for us that it will be easy to generate real estate leads for such projects and those leads will be easier to convert too. For us, broker intent indicates buyer intent – and this has often turned out to be true.
2. Compare Pricing of the Project with Other Competing Projects with a 3-4 km Radius
We often discuss the outcomes of our leads with our clients and have found that end buyers compare the prices of the real estate project in question with other projects with similar amenities nearby. They see at what price people are buying homes in the location – and whether the price of the property they are viewing is justified or not. They also check if the property is under construction or ready-to-move.
If we are pitching rental potential, they want to know if it makes sense according to the EMIs they will have to pay to acquire the property. They want to know in one line: Why is your project better than others in that location?
A property with premium prices is difficult to sell at times. We do justify it with how strong a brand name is, its construction quality, and showing its 2D or 3D renderings or walk-throughs but if other properties with 3-5 km radius cost less, it is difficult to convince leads to close deals.
When it comes to comparing prices, it is not enough to say:
This project is cheaper than what you can find in Gurgaon or Noida or Greater Noida.
Buyers compare prices with projects in the same sector or on the same road or on the same side of the Expressway!
So, we advise our clients to research the ongoing prices of the micromarkets they are serving and then decide which projects are offering the best value of money to buyers. Those are the projects that are likely to perform well in lead conversions and real estate sales too.
If you still want to pick up real estate projects with premium pricing, we advise our clients to look for two things:
- Is there a strong end-user demand for the project? Do not rely on investor talks alone.
- Does the project offer a clear lifestyle upgrade in that micromarket?
If these anchors exist, we can try generating real estate leads for them at a smaller scale first to see if the lead quality works for you.
Discounts, special schemes, and limited-time deals do not guarantee conversions. They might help us push a good project with justified price but they do nothing for projects with a high base price but nothing to show for it.
We have observed that in the lead feedback, if our clients mention that 70-80% of leads wanted to negotiate about the price or had questions related to the pricing of the project, it’s a red flag.
3. Developer’s Track Record should be Perfect
Every brochure makes big claims. We don’t believe everything it says. Buyers don’t believe them. And as a real estate broker or channel partner, you shouldn’t believe them too.
If you want to know what the acceptability of the project is going to be, study the developer’s credibility.
A few things you might want to check about the developer are:
- How many projects have they delivered in the last 7-10 years?
- How many of their projects got delayed – and by how much time?
- Are they involved in litigation or do they have RERA complaints against them?
- What kind of reviews residents of their previous projects are posting?
You might also want to talk to site engineers (about the construction quality) or residents of previous projects (about their experience with the developer and living in the project) to know if their current project is worth picking up.
We have seen our clients getting swayed by big launch events, celebrity endorsements, or aggressive branding. But we come up with a case study about the developer to help them decide if ad spend on a specific project is worth it or not.
It doesn’t mean we do not do lead gen for first-time developers. But we do it only if:
- Land ownership is clear,
- They have a credible construction partner,
- They have secured or have the required funding, and
- They mention conservative timelines and not promising something they can’t fulfill.
At ACL, we can help you create awareness about the project, trigger curiosity and interest in prospective buyers and investors, and bring enquiries. But if people do not trust the developer and their processes are not transparent, leads won’t convert.
4. Current Progress of Construction Status is a Good Indicator
We start running real estate ads for projects from their pre-launch stages. Sometimes, they do well in pre-launch, soft launch, and new launch stages but then, leads dry up with time. And we have noticed that there is a clear correlation between slow construction progress and depreciation in lead quality and volume.
We advise our clients to visit the site themselves from time to time and notice the following:
- How is the construction progressing? No construction or very slow construction over several months is a red flag.
- Is labour present on the site during weekdays too?
- Does cash flow on the site seem okay?
- Does current construction status match the RERA timeline?
Few people realise how much the construction status impacts buyers’ confidence and their decision speed. It directly affects our lead quality and your conversion ratios.
When more and more leads start postponing site visits and asking for videos of current construction status before taking the next step, slow construction progress is often the one to blame.
ACL Insight: How Construction Status Impacts Real Estate Lead Behaviour
| Construction Status | Lead Behaviour | Kind of Messaging that Works in Ad Campaigns |
| Pre-Launch/Soft Launch/New Launch Stage | High curiosity, low bookings, most enquiries come from investors, decision speed is slow | Clear pricing advantage, strong developer credibility, and conservative timelines work well at this stage. |
| Under Construction (Mid-way) Stage | End-users start engaging, buyers can start visualising what they will receive, and site visits convert better. | Talking about site plans and payment plans works well at this time. Most qualified leads come at this stage. |
| Near Possession Stage | Lead volume decreases but the trust in the project is already established. CPL volatility is low and fewer follow-ups are needed. Closures happen fast at this stage. | Buyers are price sensitive at this stop. Comparing pricing with other projects, rental and appreciation potential yields good results at this stage. |
5. What Inventory is Available to Sell
Many times, our clients tell us to stop generating more leads for them for a project because the saleable inventory or the inventory in demand is already sold out. Sometimes, premium units such as corner units, or units with great views, or units that get the most sunlight, or units with the best floorplans get sold easily while the other units are not that easy to sell.
Many brokers assume that all inventory inside a project is going to sell equally. It’s not true.
Often a project has multiple towers with 300+ or 500+ units approved. But all these units have different configurations. It is important to understand what kind of units buyers want. When leads start asking for sizes or layouts or unit positions that are not available anymore, we advise our clients to stop spending their ad budget on the project and move to the next one.
When a project has complex unit mixes with multiple sizes and layouts, we advise our clients to stick with one or two dominant unit types that are most in demand and try to sell them off quickly. Sometimes, the mid-range units sell first and buyers don’t show much interest in entry-level and/or premium units. At such times lead quality and conversions drop. We call it inventory fatigue. Moving on to the next project makes most sense in such cases.
Interested in knowing which projects will help your real estate brokerage business? Contact our ACL experts today!
Read Also: The “Fake Lead” Excuse Is Killing Indian Real Estate Growth
