As a real estate agent, it’s likely you have several lead generation methods that you trust and that work well for you. But what about buying real estate leads?
For the majority of new agents entering the industry, this is a very common topic of discussion. Some believe online lead generation programs are too expensive and consider it a waste of time. Others say that such programs are great tools for qualified leads, which makes them a great investment.
In addition to being the largest place for real estate agents to advertise, Zillow provides an opportunity to grow your business. But the service isn’t perfect.
Here are the pros and cons of buying leads from Zillow to help you decide if Zillow Premier Agent is right for you.
How Zillow Premier Agent Works
Zillow Premier Agent provides increased exposure for agents. If you’re a Zillow Premier Agent and submit a listing, you will appear as the real estate agent next to the property details.
For listings submitted by non-Premier Agents, you can appear as one of three Premier Agents beneath the actual listing agent. This gives you an opportunity to capture leads for listings you didn’t submit but means other realtors can get leads from your property listings.
Benefits of Zillow Premier Agent
Home buyers and sellers these days will go online to start their home buying journey, or to get details on selling their home. So, without paid lead generation programs, a real estate agent is basically invisible to this huge pool of potential clients.
Zillow uses its vast audience and tries to create leads that Premier Agents take and convert into sales.
First-time buyers place more importance on reputation signals than repeat buyers. When it comes to deciding which agent to actually work with, they are more likely to place importance on online reviews of an agent, and their positive reputation in the community.
With Zillow Premier Agent, there are multiple options for requesting reviews from past clients.
As a Zillow Premier Agent, you also get to advertise on the local listings provided by non-Zillow Premier Agents; while three Premier Agents can advertise on a single listing, it is still a great way to generate buyer leads.
Cons of Zillow Premier Agent
Before you spend your money buying real estate leads, there are a couple of things worth mentioning that you should keep in mind: Because Zillow is so popular, it means that every agent out there is on the platform. That makes it much harder to get a solid and dependable ROI when competing with all the other agents in your region.
Zillow Premier Agent is priced at $20 to $60 per lead, depending on the average home cost in your ZIP code, the amount of competition in your area, and how much you budget for advertising. Zillow allows agents to submit listings without paying to sign up, but it means that other agents can appear on the same listings.
Is It Worth The Cost?
One of the biggest issues with Zillow Premier Agent is that you’re paying upfront for leads that may not lead to sales. You can spend time and money nurturing leads that go nowhere.
Working with Clever as one of our Partner Agents entails no upfront costs at all. Clever gets paid as a referral fee only if a deal closes. Meanwhile, Partner Agents get highly vetted leads that are catered to their local market.
Contact Clever today to learn more about what it takes to become a Partner Agent and to get leads perfectly catered to your needs as an agent.