Some agents say buying real estate leads lists is what built their agencies. Others find the suggestion laughable – a waste of time and cash. The idea of buying a list of real estate leads has tempted many real estate professionals because finding clients can be one of the hardest and scariest parts of building an agency. Using traditional methods such as cold calling and knocking on doors can be intimidating, tiring, and ultimately discouraging.
If you just skip all that and go straight to a paid-for lead list, you can connect with interested buyers and sellers right away – right?
Not so fast.
Here’s why you don’t need to buy real estate leads.
They Might Be Duds
Leads can work if you know the source is qualified. But buying leads from disreputable sources means you might be getting a list that every other agent in the surrounding area (or worse) has already accessed. The leads could be years old. They might not be based on anything factual at all.
This doesn’t mean that all real estate leads lists aren’t reputable. But there’s no way to know how many other agents have seen the list before you. You’ll need thousands of leads to convert into a handful of sales if you purchase unqualified real estate leads lists.
Instead of buying a list of real estate leads, make your own lead list with the information you gather using ProspectNow’s proprietary analytics.
It Costs More in the Long Run
Speaking of buying lists, it’s expensive! And not just monetarily. If you’re an established real estate agent, then buying a lead list might not put a dent in your revenue – but chances are, if you’re established, then you already know how to generate your own real estate leads.
If you’re just starting out, there’s no faster way to run out of cash than to buy lead lists. You’re paying out of pocket for a list of “leads” that you have no way of knowing whether they’ve already been called, whether you will earn a client or close a sale, or just how much time and money you’ve wasted. The money you save by generating your own leads with ProspectNow can be reinvested into sprucing up your agency website or other marketing materials.
Think You’re the First to See the List? Think Again.
Unfortunately, many new and long-time agents fall into the trap of the real estate leads list. So, you buy a list – but every other agent that’s bought that list before you has already tapped any potential there. Lead lists, like buffet lines, are first come, first served.
And while you’re calling these sour leads, you’re missing out on the real opportunity in your community – to actually connect with homeowners and buyers looking to sell or that have an interest in a new property. Your time could be better spent hosting a local event.
The bottom line here is that just because you have a lead doesn’t mean you have a client.
The only way to edge out the competition is to create your own real estate leads list using a platform like ProspectNow. The lead lists you create will be exclusive to what you’re looking for, and ProspectNow can help you find those leads and beat your competition to the punch.
What About Organic Leads?
Organic leads, or leads that come through your own networks, take a bit less work than you might think – and they don’t cost a thing.
Organic leads can come via your agency’s newsletters, landing pages, blog posts, or social media channels.
To generate leads through these channels may take a little work at the beginning, such as creating the landing page or social media page and frequently updating the content therein. But you’ll eventually notice steady incoming leads from these methods. Then all you have to do is put your best content forward, further optimize your best performing posts, and make the “contact us,” or conversion, process as friction-free as possible.
The one drawback of pushing for organic leads is the extra work. Some smaller agencies find it challenging to delegate or carve out the necessary time to keep up to date on these types of content tasks.
While there might be certain benefits of a lead list, the disadvantages far outweigh the minimal advantages, if any. Before you spend your precious time and money investing in something that might not pan out, tighten up your current marketing strategy with targeted leads from ProspectNow.
How ProspectNow Can Help
ProspectNow offers a platform built on predictive analytics. You can discover the homeowners most likely to sell their home within the next 12 months using our Likely Seller algorithm. Using the demographics you input, you can create tailored lead lists that will help you save a ton of time and money, not to mention energy, on your marketing endeavors while actually gaining clients.
ProspectNow has been helping agents, brokers, and investors just like you since 2008. The data you can get from ProspectNow is a lot more expensive on other competing platforms. By using ProspectNow, you’ll generate more leads, close more deals, and make more money! ProspectNow is a provider of reliable data and a vital tool for your business success in real estate or real estate marketing. Start your free trial today.