There is certainly no lack of internet lead generating services that promise tons of ready and willing buyers.  Have any of you had any positive experiences with these "sure fire" methods ?

Thanks for asking the question as we have been mulling this over ourselves...we have considered it but have not made that step forward. 

Fortunately for us, it is more a dilemna of: should we focus on doing a better follow up with the calls we get from our advertising or do we seek additional contacts?

I believe we will probably take the long term business view of focussing on doing a better job for the customers who are reaching us through our own efforts before making use of the lead generation services. 

Still, for an agency, or agent, seeking additional customers to convert to clients, it makes sense.  This, considering the tremendous growth of the internet as a first point of information for many buyers and sellers.

I'm eager to hear the comments from others!

Cheers!

 

Don Foote, Realtor (Vermont)

 

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Welcome Home To Vermont!

I have tried a couple of these services only to be disappointed.  Luckily before signing the contracts I reworded them to suit what I was willing to lose on the proposition.  I would say be really careful and watch out for what you sign.  Always put it on your credit card so you can back it off if they do not honor their side of the bargain, as I have found they will not.  I would love to hear any positive results.

Well, here is some data for you to chew on.  I signed up for HouseValues/JustListed.com.  HV is seller side, JL is buyer side. I went with the buyer side.  I have had the service for a year.  Here are the results:

TOTAL LEADS  263

Lead STATUS by Percentage

1) Unable to contact or no response in min 3 months -  48.7%

2) Clients I am still trying to work with - 13.3%

3) Clients who already had an agent - 7.6%

4) Clients who's situation changed, (lost job, health, etc) - 7.2%

5) Clients whom I've suddenly lost contact with (I suspect due to item 3) - 4.6%

6) Clients submitting invalid contact info - 2.3%

7) Client could not qualify for loan - 1.9%

8) Clients who simply changed their mind about buying - 1.5%

9) Clients with unrealistic expectations (5BR in move in cond. for <$50K) - 0.9%

10) Last but not least, Clients who actually purchased a home - 1.5%

I got less than a 2/1 return on my investment.  I expected at least 10/1.

The bottom line is when customers go to these sites, they expect it to be an

"MLS like" search.  As soon as they are contacted by a live Realtor, the vast majority (as the data supports) disappear. With very few exceptions, you get a bunch of "tire kickers".  

If anyone can dispute this data from personal experience, I'd sure love to hear how you did it.

Regards,

Glenn Deka

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North Central Indiana

Hi

I really have bad experience with lead generation systems. I have spent hundreds of dollars Ffor  nothing. I used House Value, and Home Gain. I spent about 2500 dollars. the results were Zero. when I quit they told me the only way to make money is to stay with them for longer time. I couldn't buy it. But they are makig millions. If each realtor tries for 1000 dollars that is millions there.

Rush kd.

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[b]San Jose Realtor [/b]

"cbare4416" wrote: Well, here is some data for you to chew on.  I signed up for HouseValues/JustListed.com.  HV is seller side, JL is buyer side. I went with the buyer side.  I have had the service for a year.  Here are the results: TOTAL LEADS  263 Lead STATUS by Percentage 1) Unable to contact or no response in min 3 months -  48.7% 2) Clients I am still trying to work with - 13.3% 3) Clients who already had an agent - 7.6% 4) Clients who's situation changed, (lost job, health, etc) - 7.2% 5) Clients whom I've suddenly lost contact with (I suspect due to item 3) - 4.6% 6) Clients submitting invalid contact info - 2.3% 7) Client could not qualify for loan - 1.9% 8) Clients who simply changed their mind about buying - 1.5% 9) Clients with unrealistic expectations (5BR in move in cond. for <$50K) - 0.9% 10) Last but not least, Clients who actually purchased a home - 1.5% I got less than a 2/1 return on my investment.  I expected at least 10/1. The bottom line is when customers go to these sites, they expect it to be an "MLS like" search.  As soon as they are contacted by a live Realtor, the vast majority (as the data supports) disappear. With very few exceptions, you get a bunch of "tire kickers".   If anyone can dispute this data from personal experience, I'd sure love to hear how you did it. Regards, Glenn Deka

 

Well!  That was just the sort of info we were looking for, thanks!  Although, in all fairness, different companies providing different approaches to the lead generation might result in better returns, I have to believe that it still would not result in the 10 to 1 returns you had looked for.  Bottom line, I suppose, is to view this as a supplement to other lead generation methods, as opposed to a replacement of them. 

Any other experiences to be shared with other companies would be GREATLY appreciated by me, and I'm sure, others.

Don Foote, Vermont Realtor

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Welcome Home To Vermont!

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24/7 Call Capture Real estate & Mortgage Technology

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24/7 Call Capture Real estate & Mortgage Technology

Glenn Deka - I'm also a user of HouseValues/JustListed.....actually I only techinically get the JL (buyer side). 

I've had success with the system, and to my knowledge the success all depends on how you work it.  I have been involved with them since April 07'.  I've had 1 transaction so far, one under contract, one listing ready to come on the market in a few days, and one of my first leads whom I never heard from until about 2 weeks ago has informed me she wants to buy a $10M plus property in CA (I'm in WA).  I've already referred her out and she is set to be in CA on the 20th of this month.  If all goes well, I will receive a 30% referral fee.  She initially input she was looking for the $150,000-$200,000 range.

In essence, I believe the system works, it all depends on your follow up with these people, some patience, creativity, and willingness to learn from others using the system.

I knew getting into it wouldn't be the magic pill, but I also knew if I failed it was because of me because so many other agents are having great success using the system.

Hope that helped a bit:)

 

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I'd Rather Be Working

"cbare4416" wrote: There is certainly no lack of internet lead generating services that promise tons of ready and willing buyers.  Have any of you had any positive experiences with these "sure fire" methods ?

I tried Realty Trac and got alot of leads, paid about $600.00 and only am closing on 1 deal ($3500)

Then I signed up with Just Listed.com...I feel it was a HUGE! Mistake. The Rep, Amanda kept telling me how great they were and I would not be sorry I signed up, then finally after about 6 months, I did.

They keep telling me the same thing, to hang in there. I basically told them to stop calling me, that I hate their system and basically I'm screwed for 6 months cuz that is the contract I signed.

I get bad leads, from bad phone #'s to no addresses, no return emails. Yet JL tell me to just give them what they want that I don't need a phone # just an email.

The only thing good about their program is the Coaching, Contact Mgmt and Drip Campaign. So I just think of it as, I'm paying $300 a month for that and the leads are only incentives, at least for the next 4.5months.

I did talk to 2 other realtors that say they are doing well with them, but of course they are in a Rich area too. I am afraid to pay more for the rich area over $500k,  $300 is a lot for not being sure if something will work. Guess I will just have to wait and see or get out after my 6 months

Oh and I DO Follow up and I DO what is needed with the leads, So it's NOT just how you handle them, I know how to handle them, it's getting the bad leads is the problem.

DFW Realtor

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Networking=Referralls!