Real estate agents, do you use RealEstate.com as a lead generation source?

Asked by Jonathan Bowen, Stoughton, MA Sat Nov 10, 2007

I don't, but I just noticed that RealEstate.com has recently opened up a real estate office in Massachusetts. For those not familiar with RealEstate.com, they are a subsidiary of LendingTree.com. RealEstate.com charges a monthly fee to real estate agents for leads. They are sort of like a HouseValues.com. My questions are these; How and why would RealEstate.com canabilize their lead referral business? Why would they put themselves in the bullseye like this? If I were paying for real estate leads from RealEstate.com I would immediately cancel my subscription. Wouldn't you think that the best leads are going to RealEstate.com's own agents? Sometimes I see the worst business decisions and I believe that this is one of them. What is your opinion? Thanks, Jon

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9
Mr.P, , Arizona
Sat Nov 10, 2007
I am glad you came back Jonathan. That is a fine trait ,of a true Realtor. Being able to be ridiculed, spat on, and thrown under the Bus. By an angry crowd, Only to come back for more.

Don`t ever pay for leads.

You know that story teach a man to fish, Blah Blah.

Learn how to ask these questions of everyone you know and the people you meet in the future.

#1. Would you like to Buy or Sell a house?
#2. Do you know of anyone who would like to buy or sell a house?
#3. Would you let me know if you hear of anyone wanting to buy or sell a house?

Be the lead. Jonathan
5 votes
Deborah Madey, Agent, Brick, NJ
Sat Nov 10, 2007
No, because if I did and I got lots of leads, I wouldn't have time for Trulia. LOL.
4 votes
Christopher…, Agent, Hemet, CA
Sat Nov 10, 2007
1) No but, it can increase your total exposure which can also lead to additional business.

2) Grasping at straws.

3) Grasping at straws before the inevitable fold.

4) Without a doubt. I dont think that any repectable agent should buy leads anyway. Nearly every lead generating company is affiliated with an agency somewhere down the line. I sell leads as well and only send out what we do not want to cover costs of the ones we do. Many large and small agencies do this and, although there is nothing wrong with this practice, all agents should think twice before buying leads.

That is my opinion. A great question that all agents need to ponder.
3 votes
The Hagley G…, Agent, Pleasanton, CA
Sat Nov 10, 2007
have a buddy that is using RealEstate.com and she is having no success. The leads are cold...and old!
Web Reference:  http://www.cindihagley.com
3 votes
Lisa Hunt, G…, , Hutto, TX
Mon Jan 21, 2008
I used them and they were awful...wouldn't recommend them again.
2 votes
Cal Diewater, , phily
Mon Jan 21, 2008
Inman News ran a story late last year indicating that realestate.com was getting out of the lead generation business, instead confining itself to referrals.
1 vote
Sylvia Barry,…, Agent, Marin, CA
Sat Nov 10, 2007
Hi Jonathan:

Great question and Good answer! Glad you are here.

And, yes, nice have you spending time on Trulia even with that tie - Don't worry I had to explain about my car to my clients every time I drive them, so, at least we are families here (or not) :-)

Anyway, I don't like to pay for leads. I won't lie, I tried them when I started. HomeGain, boy, did I work hard to write those essays, none, while paying for the service; Then I tried some realty something other, can't even remember, another automatic money eating machine.

So, I go back to the basics, work on my own website, working on my own sphere of influence, volunteer (yes, feels good, but also gives you real leads) - until - Trulia takes over part of my life.

But bottom line, No, I am not making automatically payment from my bank account to those sites anymore and I don't miss that.

Sylvia
1 vote
Infinity Rea…, , Saratoga, CA
Sat Nov 10, 2007
John seems like you answered your own question. And Im not sure how much feedback your gonna get, after your last question. Where you basically called out all the Trulia professionals. But glad to see your giving it a shot.

My opinion any lead source will sell and sell as long as someone buys. So do they really care if anyone closes deals if there is money in there pocket.
1 vote
Pam Winterba…, Agent, Danville, VA
Sat Nov 10, 2007
Not to familiar with them in our area. I am adverse to paying upfront for leads expecially when they are not really ready to buy or sell.
0 votes
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