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House Values.com Needs To Leave Me Alone

By Gene Dexter

Real Estate Agent with Asset Realty

March 16, 2008 11:03 PM

The phone call comes in like clockwork. John from HouseValues has leads! Leads leads leads. Accurate e mail addresses and phone numbers of people who filled out a form! Of course he does.

I'm sorry. It's not that easy, is it. Whether the market is up or down, real estate representation is entirely about relationships, networking and total management of a sphere. Filling out an online questionaire and reselling it as a neighborhood lead for $600.00 a month is not financially sound business to go after.

Like alot of agents, I tried a few programs here and there over the years. Search engine optimization via AdSense and Overture was ok, back when I could buy the keyword phrase Seattle Real Estate for 10 cents per click. Now of course it's something like $12.00 . While it lasted, did I convert anyone? Of course not.

Then there was RealEstate.com and their pay per lead program. Something like $45.00 each. I agreed to buy ten. I was later asked for specifics as to why I would not continue with them. Well, let's start with how two of those "leads" were two Realtors in my market who were testing out the system and filled out the online form! Isn't that fun...and the other eight? Their profuse apologies for not knowing what they were doing when they filled out an online page!

My advice to agents (including the two who were "leads" to me!), take a little budget out for coffee days and pick up your friend the home owner for a nice latte near their office or house. Deliver a floral bouquet unannounced on the anniversary of someone's home purchase. Send your existing client a year's subscription to Dwell or Organize. These are the things that count, not an "exclusive" neighborhood or regional leads list.

Finding new clients is an everyday challenge, but maintaining who you have already is an art. Sorry John!

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Leesa Finley

RED Properties - Wake Forest, NC

RED Properties - Raleigh NC Real Estate

Gene - If I get ONE MORE call from those people! It is relentless! You give some very good examples of how your time and money can be put to much more effective use!

Mar 16, 2008 11:09 PM

Chip Jefferson

Gibbs Realty and Auction Company - Columbia, SC

Thanks John for letting us know whom is a waste of time. Great stuff!

Mar 16, 2008 11:13 PM

Laura Karambelas

Baird & Warner Downers Grove - Downers Grove, IL

Realtor - Downers Grove

I agree with you! They keep calling me, too. It's kind of like they are advertising our listings and selling the leads back to us for their profit.

Mar 16, 2008 11:25 PM

Keith Perry

Coldwell Banker - Hiram, GA

REALTOR - West Metro Atlanta

I just hang up now. It is a waste of time to even listen to them.

Mar 16, 2008 11:46 PM

Dennis Swartz

Full Circle Property Management - Columbus, OH

MBA, GRI...experience counts!

Thanks, Gene. By the way, I had those same realestate.com leads. I don't pay for leads anymore.

Mar 16, 2008 11:51 PM

Terry & Bonnie Westbrook

Westbrook Realty Broker-Owner - Grand Rapids, MI

Westbrook Realty - Grand Rapids Forest Hills MI Re

I agree we are doing our own Search Engine Optimization and concentrating on keeping in touch with our past clients.

Mar 17, 2008 12:00 AM

June Piper-Brandon

Coldwell Banker Realty - Baltimore, MD

Creating Generational Wealth Through Homeownership

Gene, you are oh so right. When I was young and foolish I gave them a try and boy are their sales people great at making you believe that their service is the best. Then they changed their name, or there was another company that came along that offered the same programs and they started calling and now their people are calling again saying they've changed and nothing has changed it's still the same old bad leads they claim are good leads. I have told them to stop calling and they keep calling.

Mar 17, 2008 12:01 AM

Julie Chapman

Julie Chapman Broker - Ormond Beach, FL

Daytona Beach Shores, Florida

I am lucky that my clerical staff screens these phone calls for me but occasionally someone will pick up my cell phone and call that number.......they usually hang up on me.......I am on the Do not call registry for my home, business and cell phone........I don't violate its rules in my business..............

Mar 17, 2008 12:10 AM

Miriam Bernstei

Rochester, NY

I know it is really annoying. When they say that they spoke to me in November and I said call back they are lying as well. I never tell anyone to call back. Doens't stop no matter what you do.

Mar 17, 2008 12:20 AM

Michael Setunsky

Woodbridge, VA

Your Commercial Real Estate Link to Northern VA

Gene, my mail box is stuffed with emails from these companies. A good friend of mine subscribed to three or four of these lead services last year. He paid several hundred dollars for these. He did receive a lot of leads, but everyone of them were not qualified leads. It ended up to be a total waste of money. Your advice for client follow up is the only way to go.

Thanks, Good Post!

Mar 17, 2008 12:49 AM

Cree Quaker

The Machree Group, LLC - Woodstock, NY

Ulster County Real Estate

Oh you went and said the HV word. I think I finally got rid of them, but they are now hounding my agents.

Mar 17, 2008 12:50 AM

Raymond Gravelle

Realty Executives Grant County - Moses Lake, WA

Serving Moses Lake, Ephrata, Soap Lake, Grant Cty

The ideas mentioned by the posting agent are great for follow-up with existing clients to generate repeat business and possibly referrals.

The leads HV generates are simply internet consumers requesting info on available homes for sale or the approximate value of their home in today's market. This is to generate NEW business from consumers that are using the internet.

We do not claim that the leads are anything more than that...opportunities to deliver the requested info and then BUILD A RELATIONSHIP with the consumer.

Many agents find success with these types of leads IF they use a follow-up system to keep their name and face in front of the consumer long-term as most of these leads are not ready to buy or sell immediately.

There are many copycat companies out there that sell leads. So many agents think that it is us calling them repeatedly even though it may be another company.

80%+ of buyers and sellers use the internet before they contact an agent so it's important that agents have an internet presence.

HV does that FOR agents that otherwise cannot afford to or do not have the time or know how to put up a site, pay for search engine placement and generate the leads.

Mar 25, 2008 01:57 PM

Gene Dexter

Asset Realty - Seattle, WA

Seattle Realtor

Raymond, of course promises can't be made, these leads aren't anything more than names and phone numbers, leaving the territory up to us to call, e mail, follow up, re-follow up, only to find out the online visitor just wanted a passive number about their house value in the first place, not some agent who took it more seriously than it was; an online parlor game for the owner.

For what House Values and a myriad of other companies charge, I can walk into a four star restaurant/bar, identify four people I want to meet, buy several rounds of top shelf martinis and appetizers for them, and by the end of that night have four business cards in my pocket (with e mail addresses) and a commitment for lunch later that month to discuss market trends and hear my new acquaintances ideas and referrals, with $300.00 still left, to do it again another night.

Or, I can try and build rapport on the internet with something like HouseValues.com?! Which is more effective? Hmmmmm?

Mar 25, 2008 08:21 PM

Lars Roma

Seattle, WA

Have to whole heartily agree with Gene. As an ex HV client and not at all happy with the "service" HV provided nor the conference call "classes" HV provided or the "tools" they provided. Delusional to say the least....them...no,,,, me for even thinking of paying for such rubbish.

I have since adopted with great success the Gene Dexter school of Referral In A Bar ( RIB for short) I find that RIBing works pretty darn good and like Gene mentions, I still have $$s left in my pocket along with the biz cards and some very pleasant face to face conversation to go along with it.

Sorry HV, your time has past...as evidenced by the massive layoffs, stock value drop, revenue drop, etc,etc .......sour grapes? Naw, Ive moved on........now.... to my next martini lunch.........

Apr 11, 2008 06:49 PM