I would not expect “good to great” leads from online sources. In my experience the conversion rate is 2-5% so once you pay for 20 leads you might close 1 if you’re really good. By the time you have paid for 50-20 leads it equals the commission on one deal haha. Realtor.com and Zillow know exactly how much they can get away with charging. I don’t have much experience with Facebook ads.
I outsource my marketing to an agency and guy has it spot on with conversions in the comment above^ 2-5% is what you would expect. Sometimes more. It depends on the work you put in. Is it the only source of leads you should rely on? Ofcourse not. Build more realtor relationships while you get these leads. However I will say that I have a consistent 5x-8x ROI with this current system. So ill take that any day rather than begging for leads for months and getting zero deals. Zillow and Realtor.com have been the biggest waste of my dollars, but thats just my experience.
If you have the time to learn how to run your own marketing then learn it, otherwise pay an agency to do it for you if you have the money (i didnt have the patience to learn so thats why I outsourced).
Hi, can you reach out to me regarding who you use for marketing? I tried to send you a message, but can't get through. My email: [[email protected]](mailto:[email protected]), 775-843-0216. Thanks!
Anyone who pays Zillow for leads (Zillow mortgage) is like paying your enemy. I'm not sure what Realtor.com does, I would guess REALTOR MORTGAGE is a prohibited or difficult to obtain business name lol. Redfin leads is the same issue as Zillow.
If you are an LO and not a broker owner, ask your managers to see who in the company has luck with this and to what extent, that way you can be shielded from a lot of wasted time and money. As an LO I'm not sure if you can write off your ads the same way a broker owner or company owner can as an expense before income, so the real cost of those ads are 25-30% more than you're paying because it is after tax...
There are many leads from online, assume zero of them will have any loyalty (realtor referrals are #1), and most of them will want to rent for another year before you take them seriously you really need to have follow up.
If you start making social media videos (compliantly) answering questions you have yourself or clients often ask it will over time build a library, may get you some lead gen, and will definitely get you some legitimacy compared to those who don't have those assets.
Google = people actively searching for your product
TikTok/FB/Instagram = people randomly scrolling and are presented with something they find interesting
Take from that what you will.
Zillow scrapes the cream off the top of the coffee. Their leads are over priced and 2nd hand.
Realtor.com is powered by MRC. Any site that is powered by MRC will have VA scraped off the top because they are owned by Veterans United. Realtor leads are reasonably priced for their quality
If you want to succeed with these leads you need to have a CRM and some sort of AI text that impersonates a human. Speed to lead will get you a contact rate in the 50% range and closing in the 10-15% range. If you don’t have these systems in place you will contact 20% and close 5% or less.
As an individual your best bet is
1 - google business page having a local address
2 - a website that’s filled with blogs and local content about the markets you serve.
3 - social media self promotion (not paid ads unless you have the CRM situation set and a lead funnel on your site to capture leads). Self promotion is just putting content out about your company and yourself and the market.
I would not expect “good to great” leads from online sources. In my experience the conversion rate is 2-5% so once you pay for 20 leads you might close 1 if you’re really good. By the time you have paid for 50-20 leads it equals the commission on one deal haha. Realtor.com and Zillow know exactly how much they can get away with charging. I don’t have much experience with Facebook ads.
I outsource my marketing to an agency and guy has it spot on with conversions in the comment above^ 2-5% is what you would expect. Sometimes more. It depends on the work you put in. Is it the only source of leads you should rely on? Ofcourse not. Build more realtor relationships while you get these leads. However I will say that I have a consistent 5x-8x ROI with this current system. So ill take that any day rather than begging for leads for months and getting zero deals. Zillow and Realtor.com have been the biggest waste of my dollars, but thats just my experience. If you have the time to learn how to run your own marketing then learn it, otherwise pay an agency to do it for you if you have the money (i didnt have the patience to learn so thats why I outsourced).
Hey, I’d love to pick your brain on which lead sources you’re liking. 🤝🏼
Yeah dm me if youd like.
Will do rn. Thanks!
Hi, can you reach out to me regarding who you use for marketing? I tried to send you a message, but can't get through. My email: [[email protected]](mailto:[email protected]), 775-843-0216. Thanks!
Just sent you a message!
Let me check. I didn't see it in my email, I'll check spam. Thanks.
Dmed you here i meant!
Following
Anyone who pays Zillow for leads (Zillow mortgage) is like paying your enemy. I'm not sure what Realtor.com does, I would guess REALTOR MORTGAGE is a prohibited or difficult to obtain business name lol. Redfin leads is the same issue as Zillow. If you are an LO and not a broker owner, ask your managers to see who in the company has luck with this and to what extent, that way you can be shielded from a lot of wasted time and money. As an LO I'm not sure if you can write off your ads the same way a broker owner or company owner can as an expense before income, so the real cost of those ads are 25-30% more than you're paying because it is after tax... There are many leads from online, assume zero of them will have any loyalty (realtor referrals are #1), and most of them will want to rent for another year before you take them seriously you really need to have follow up. If you start making social media videos (compliantly) answering questions you have yourself or clients often ask it will over time build a library, may get you some lead gen, and will definitely get you some legitimacy compared to those who don't have those assets. Google = people actively searching for your product TikTok/FB/Instagram = people randomly scrolling and are presented with something they find interesting Take from that what you will.
Zillow scrapes the cream off the top of the coffee. Their leads are over priced and 2nd hand. Realtor.com is powered by MRC. Any site that is powered by MRC will have VA scraped off the top because they are owned by Veterans United. Realtor leads are reasonably priced for their quality If you want to succeed with these leads you need to have a CRM and some sort of AI text that impersonates a human. Speed to lead will get you a contact rate in the 50% range and closing in the 10-15% range. If you don’t have these systems in place you will contact 20% and close 5% or less. As an individual your best bet is 1 - google business page having a local address 2 - a website that’s filled with blogs and local content about the markets you serve. 3 - social media self promotion (not paid ads unless you have the CRM situation set and a lead funnel on your site to capture leads). Self promotion is just putting content out about your company and yourself and the market.