Forbes magazine reported that
over 82% of all baby boomers and millennials go online to search for new homes and felt online listings were critical to their homebuying experience. The real estate leads industry has exploded in the past ten years thanks to how critical online homebuying has become. Finding a good source of online real estate leads is like finding a river of gold. But with the abundance of online real estate leads, it has become critical for Realtors to choose the best lead-gen service for their business.
When choosing the best online real estate lead provider, there are several key items agents need to consider. Before even shopping, agents should consider:
- Ease of use
- Availability of nurturing tools
- Access to CRM
- Level of customer service
- The warmth of leads
Best Sources of Online Real Estate Leads 2019
1. Bold Leads
Bold Leads is renowned for stellar training and lead exclusivity. Its pricing structure is modest and easy to understand. The packages they offer are Seller Pro, Buyer Pro, Seller/Buyer Pro, and Broker Pro. The monthly pricing for Seller Pro is only $299. The most expensive package, Broker Pro, goes for $899 and includes ad spending.
Bold Leads is great because of their exclusive leads. In other words, only one agent/brokerage is assigned a lead, unlike many other lead companies that send all their customers the same leads. These leads are far more receptive as they haven’t already been chased down by twenty other agents.
Realtors who use Bold Leads have plenty of tools at their disposal, including an effective automated nurturing ability.
A lot of Realtors are in on the Facebook game, but the problem is that most agents are doing it all wrong! Facebook is cheap, easy, and very accessible, and can give the greatest ROI of all these options if it is done right. Facebook is unique because it connects audiences directly with the agent, it provides exclusive leads like Bold Leads, and it gives leads’ a brand awareness of the Realtor before they even speak. This makes leads even hotter.
The trick is doing it right. Inman put out a great article on why most Realtor’s fail at Facebook marketing, and what they can easily to capitalize on Facebook. The trick is knowing how Facebook works. It is a place where users go to gain and share knowledge. Traditional forms of marketing don’t work because they look like “digital shouting” at leads.
An agent’s goal shouldn’t be to get more likes or shares, it should be to get click-throughs to their website. By offering valuable content that adds to the leads’ experience, they can get the click-throughs they need. Once leads click-through, services like CRMs with integrated IDX and lead capture, capture the leads information and connects them with the agent.
This offers some of the hottest leads because they have already been introduced to agent’s brand and have been qualified by the agents’ audience presets. The best part is it also has one of the lowest price points. Keep an eye on our upcoming articles about how to set up successful Facebook campaigns.
3. Market Leader
Market Leader’s leads are also exclusive (never sold to other agents). Their highly intuitive tools are designed to capture sellers during the decision making phase. This is supposed to make them warmer. This may be true, but we caution, no online lead is ever truly hot until you have a conversation with them. No matter where you buy leads, this will always be true.
An online lead is only hot after you make a personal connection.
The interesting aspect that sets Market Leader apart is its pricing structure. It is pay-as-you-go. The cost of service is largely determined by the user’s zip code and market conditions. The price of most leads range from $20 to $60. Payments are made as you receive the leads.
Market Leader features are fairly easy to use. Although customer support may be hard to come by, a “Success Manager” is assigned to walk client’s through the entire setup. Training programs are also available through weekly webinar series.
They also offer lead nurturing tools like templates, scripts, generation guides, and an email script generator.
4. Zillow Premier Agent
Zillow receives over 100 million visitors every month and ranks among the best property generation companies for brokerages and realtors. You know what they say, “You’ve got to go where the fishes are.” And love them or hate them, Zillow gets a lot of traffic from leads. If you do want to go with Zillow, be sure you purchase an account as a premier agent to get the best ROI.
Real estate leads work a little differently with Zillow. Instead of being sent leads to prospect, leads choose to contact you by selecting your profile on Zillow. It is nice to have leads contacting the agent.
The best part about Zillow is its easy-to-use system. They also offer a Pre-Agent App with email, text, and phone tips along with a management feature. For listing agents, Zillow Premier is totally worth it as you get all leads exclusively for a property. However, if you are a buying agent, you do jokey to compete with other agents. But, if a listing is millions of dollars and you are placed highly as a Zillow Premier agent, it is worth it.
The downside of using the platform is the steep price. Pricing is based on zip-code criteria where you wished your profile to be placed. It can be worth buying into a zip code with both middle range and luxury homes, as one sale of a luxury home can pay for the service and then some. Customer service is available during business hours, while the help form can be accessed 24/7.
For listing agents, one of the major pros of choosing REDX is the expired listings. REDX real estate leads are relatively inexpensive with monthly expired listings going for a flat fee of $589.99. The system is easy to use and offers a wide range of leads, including expired listings, Pre-foreclosures, Geoleads, FRBO, and FSBOs.
Although preloaded scripts are available, we recommend writing your own because REDX leads are not exclusive. Other paying agents also have access to the same leads and may already be using the same, pre-written scripts. However, the additional noteworthy features include a lead phone number, which is checked against the Do Not Call Registry and continually updated expired listings.
Again, Landvoice is more geared toward listing agents and is a major competitor to REDX. Compared to industry peers, Landvoice offerings are competitively priced. The monthly prices range from $87 to $227 for the Starter to Elite package. For the Premium Elite package, you get Expired Pro, FSBO, call capture, neighborhood search tools, and pre-foreclosures. The other plans are Essential and the Pro.
The platform does not feature a whole lot of bells and whistles or exclusive leads; however, a number of additional noteworthy features are available such as a status update on FSBO and lead phone number checking against the Do Not Call Registry (like REDX)
Listing agents like Vulcan7 because it offers a huge edge with sophisticated dialers and automated response for different types of leads. They also smart video communication tools. Their leads include expired listings, probates, and FSBOs. Again, there is no lead exclusivity here, but it would be rare to see that for listing leads.
The monthly service rates range from $169 to $299. Depending on the type of property insights you choose, all the plans come with CRM and auto-dialer.
The CRM availability can be used to organize leads; offer video delivery; facilitate note taking and schedule follow-ups. Vulcan 7 is not the easiest to use since the user requires additional initial onboarding training to navigate the software.
After Purchasing Online Leads
No matter where you choose to purchase online real estate leads, there is always a high volume and a need to convert them into clients. The best way to serve your online business efforts is to choose a CRM designed to specifically to grow real estate businesses and convert real estate leads. Remember, an online lead is never truly hot until an agent personally connects with them. CRMs like Buying Buddy IDX CRM
are specifically designed to build agent relationships with online leads, turning them into clients. And a good CRM is designed to import every lead, no matter how many different online real estate lead sources an agent chooses.