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Lead Generation Companies

By Angela Fish Chan

Real Estate Broker/Owner with Rockland County Real Estate LLC 49CH1174626

February 24, 2008 06:44 AM

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Lead Generating Companies

It snowed buckets today, so I had a rare day at home and took some time to work on my websites and do some blogging.

My question today is about lead generating companies. Do you feel these companies are worth the investment? I'd love to hear from some top producers on this subject. Yesterday I spoke with someone from a very large lead generating company (very highly ranked) and I must admit that if business were a bit more brisk I may have signed up. However, I'm beginning to become very weary of all the hype, emails and buzz around these companies.

HOW REAL IS THAT LEAD?

I'm no newbie to technology. I've been online since 1997. However, the technology and all that comes with it is beginning to get to me. Don't get me wrong, I LOVE technology and anything that helps me improve service to my client. But the point is ... I don't like paying someone to lead me to my client. I'm the one grunting out the work whilst paying a hefty fee MONTHLY to a lead generator.

I'm beginning to think that the tried and true way of doing business is best. Take care of your customer, keep in touch with your sphere of influence, maintain your integrity and they will refer to you. Period.

What do you all think? Do YOU pay for lead generation. Does it work for you.

I'd love to hear your thoughts.

Angela Chan
Broker/Owner
http://www.rocklandcountyrealestate.com/
http://www.nanuetrealestate.com/

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Gayle Fujita Ramsey Mike Fujita

Green Realty Group (808) 388-1485 - Honolulu, HI

(S) RA SFR ePro MRP

I have had great success with some of these companies. Some of them send you verified leads and charge you a flat rate for each one, some charge a percentage and still others charge a monthly service fee and a percentage. I have found that as more and more Realtors are becoming internet savvy, the pool of realtors in a given area gets too big and potential clients are overwhelmed by phone calls by these realtors. There is one company I really liked that had you respond and the potential client can read all of the responses and choose with whom they would like to work. But here too the realtor pool became so large that you have as much a chance of getting noticed as your Yellow Pages ad. I have pulled all of this advertising money and put it into more print media and promotion.

Feb 24, 2008 07:14 AM

Clint Miller

Real Estate Pipeline, Inc. - Missoula, MT

Angela, I run a referral procurement company and would love to speak with you about it. You can check out my profile, or simply call me directly at 800-977-7058.

Feb 24, 2008 11:49 PM

Jill Wente

Better Homes and Gardens Real Estate | Gary Greene - Spring, TX

Realtor, CRS, MCNE, CHMS

Angela: I have had terrible luck with the lead referral companies. I have been able to generate better qualified leads from my own site and blog than I ever did with the lead referral companies.

Feb 25, 2008 09:26 AM

Lanre-"THE REAL ESTATE FARMER" Folayan

Samson Properties - Bowie, MD

I don't make promises.I deliver results.SOLD HOMES

Angela - Like Jill,I have had terrible luck with lead generation companies. So bad that I wouldn't recommend them to the devil. My thing is the same leads that these so called lead generation systems are giving us,we can generate the leads ourselves. Why let lead generation companies continue to cut into our commission sales? Last time I checked,they didn't take 60 hours of real estate education,pass the real estate state examination and continued education classes. My grandmother can probably give me better leads than these lead generation companies. Great post.

Feb 25, 2008 09:34 AM

Cotina Mayes

Birmingham, AL

I have had good in luck in the earlier years using a referral company but now I dont use one my business is strong enough for me not to have to pay for leads.

www.TotallyVirtualRealty.com

Feb 25, 2008 09:35 AM

Angela Fish Chan

Rockland County Real Estate LLC - Nanuet, NY

Licensed Real Estate Broker Owner

Lanre: Read your response and laughed. I'd say the overwhelming majority of responses have been negative on using lead generating companies. I absolutely agree with you ... they are cutting into our commission base. I differ with you on one point though . . . I would recommend them to the devil. Oh wait a minute I better take that back ... on second thought .... the devil would probably just help them come up with a more clever scheme to dupe us again.

All the best . . . thanks for responding. LOVE BLOGGING. Great way to make "friends" over the net.

Feb 25, 2008 10:04 AM

Hi Again- For the most part they stink, it is true. But when the day comes that a company is willing to not charge for "leads"...and they all sell leads...where the prospect has and had no intention of doing a transaction, I will buy everything. They, for the most part charge once they verify the phone numbers or email work. The problem is that some Realtors don't know how to work these prospects, there's a nack to it, and the companies feel that the Realtor should have been able to make a sale. I have made at least one sale for each company I have worked with, to date that is about $1,100,000 in in the last 12 months. But I have also spent $2-3 thousand to them.

Feb 25, 2008 10:44 AM

It's amazing how many comments and emails I receive back on these lead generation blogs.

Just for clarification . . . the reason I'm inquiring about paying for blogs, is that today I attended a Webinar given by RSS Pieces. I've been calling them all day trying to speak with someone, anyone. I believe that they charge for their blog. But what I'm trying to find out is ... what do I get for my money.

Anyone know anything about RSSPieces. They mentioned Lauri Manny LOTS. I love Laurie Manny.

I hate being a newbie. I can really see how this is addicting though. My G-d, I have so many wonderful people to talk with now. I'm a boutique broker swimming in a very overpopulated and saturated with realtors market. Sometimes I feel all alone (can you hear me crying?) out here. Making a living in Nanuet Real Estate But ... I've been with the biggest broker in town, then after that went with the second biggest and although I have a lot of responsibility on my shoulders, I believe there is still wonderful opportunity with a tradtional (please, please, please, don't call me mom and pop) broker.

I enjoy all of you.

Angela

Feb 25, 2008 11:00 AM

Lead Generation Companies

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