Realtors frequently purchase real estate leads without realizing that these leads may be outdated or shared with other Realtors. Lack of time and resources are factors in this issue. Most Realtors ultimately turn to the purchase of real estate leads as a solution. I’ll explain in more detail below why it might be a bad idea.
Here Are Five Reasons Why Purchasing Real Estate Leads Is a Bad Idea
They are Pricey
In a nutshell. Companies demand exorbitant prices from you in order to sell you real estate leads. Why should you pay more for these leads when the majority of them are unqualified? Why are you being charged as though these Lead Gen are a guaranteed thing when they are frequently a “shot in the dark”? A struggling realtor shouldn’t be taking a chance with such a large sum of money.
They Haven’t Met the Requirements
If the lead isn’t interested, what use is it? What use is a lead to an agent if the individual doesn’t reside nearby? What use is a lead if the individual is too young to buy a house?
These issues have often arisen for realtors who purchase real estate leads. In essence, you are paying for a list of email addresses (and possibly phone numbers) of strangers who don’t know you and are hoping that they would be interested in buying or appointments, much alone working with you on a deal! You can’t even tell them you bought their confidential information from someone else instead of getting it via your own work!
Your Asset Base is Not Growing
A clientele base, either actual or potential, is a collection of people who will do business with you in the future. You have not acquired consent from these folks to speak with them before acquiring real estate leads. Simply to interrupt them, you have rented their contact information from a third party. You know you’re in danger as a realtor when you can’t say where you got someone’s phone number without fear of being rejected.
You are not developing an asset base when you rent someone’s contact information. These real estate leads are not helping you develop a relationship with them that could lead to future business. You are merely incurring a significant cost by bothering someone with whom you have no prior arrangement to communicate.
Do You Have Exclusive Access to These Leads?
Does the business from which you are purchasing your leads sell them just to you? Or do they have a possibility of selling them to another realtor in your neighborhood? In fact, there’s a considerable chance that this business purchased them from a third party who in turn purchased them from still another! There is frequently no assurance that the real estate pay per lead you buy are reliable, unique, and intended only for you.
Nothing Is Being Learned by You
Whether you like it or not, we are living in the digital age. More than 90% of buyers and sellers research options online before ever thinking about using a Realtor. You are not learning how to get real estate leads online when you buy them.
Flyers, cards that were only sold, and cold calling are no longer used. You get access to an unmatched business platform in the online world. By utilizing technology, you may expand your brand while connecting with a huge number of potential customers. You forfeit the chance to develop your own skills when you outsource your work. This is only a temporary fix because a new breed of tech-savvy realtors is poised to outperform you and will do so independently and online.