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When it comes to choosing a real estate lead generation product, there are a lot of options out there. Lead generation products continually change and evolve over time, sometimes leaving you with a product that may have worked well for you in the past but not today. Some products offer lead generation only, while others incorporate tools like IDX websites and CRM programs. Aim to find a product that can save you time, fit into your budget, and support the needs of you and your team. Also, consider a product that verifies leads before they're delivered to you, to save you the headache of calling bogus phone numbers. Check out the 4 real estate lead generation products listed below and start closing some leads.
Zillow
Zillow has a long history in lead generation and recently introduced human-verified leads. They produce high traffic and their customers report that they receive a lot of leads. You can choose a month-to-month contract or a 6-month contract. Early termination fees can be staggering (ex. twice the monthly amount you're spending). Agents are not exclusive to territories and they pay more for popular zip codes.
- High traffic
- High # of leads
Customer complaints: expensive for what you receive; if you aren’t an early adopter, you won't get the best zip codes or the majority of areas/slots.
Cost: Around $5 - $75 per lead, $250 - $5000 per month, varies by zip code
Market Leader
Market Leader has been around since 1999 and offers exclusive leads to their customers. Agents may share a zip code but they don’t share leads, unlike Zillow. Besides contact information, lead alerts include the lead’s search criteria, listings searched and price range. Leads are not verified before delivery.
- Exclusive leads
- Guaranteed specific # of leads per month
Customer complaints: receive bad email addresses and phone numbers (or no phone number); leads aren’t verified/scrubbed; poor customer service and varying levels of competency.
Cost varies: Around $20 - $60 per lead
Realtor.com
Realtor.com has been around for 20 years and offers exclusive areas to their customers but leads can be shared with other agents. They offer courtesy leads based off of certain requirements. Leads are not introduced to the agent but they are scrubbed. Alerts provide contact information and many details about the lead including the number of days they’ve been searching listings and the number of times they’ve viewed a list.
- Exclusive areas
- Leads are scrubbed
Customer complaints: not getting the number of leads promised; expensive to get out of a contract; poor or no customer service.
Cost: $200-$500/mo., but can be $1000’s/month, depending on # of zip codes you choose.
Real Estate Pipeline
Established in 2003, Real Estate Pipeline (REPL) offers exclusive leads and territories and you don’t pay more for the most popular zip codes. All leads are human-verified. You are called immediately following the lead verification, and you are even introduced to the lead. You can add areas, at no extra charge, if traffic is low in your preferred areas. Good customer service responsiveness.
- Human-verified leads
- Exclusive leads
Customer complaints: some leads are looking for homes in a price range too low for the market; poor lead (REPL will replace lead within preset time period).
Cost: Starting at $1164, which includes up to 5 available territories
Conclusion
When you’re in the market for a real estate lead generation provider, consider the options above. Some are simple lead generation products while others include options, like a CRM program. Some companies verify their leads before sending them to agents, which makes them a favorable option. Decide if you want something robust or simple and consider trying a new system for a few months. If you're already using a lead generation product, consider purchasing another one to further boost the number of leads you're receiving. With online lead generation, such as Real Estate Pipeline, you can look forward to closing more deals and growing your sales funnel.
