If you’re a real estate agent, you know that generating leads is both the most important and most frustrating part of your job. Without leads, you can’t sell homes, help buyers purchase homes, or make any income.
Simply put, no leads means no business.
It’s easy to see, then, why realtor.com’s lead generation service is so attractive to many agents. The promise of getting leads right to your inbox for a monthly fee sounds like a magic bullet. But it also sounds too good to be true.
We scoured the web looking for opinions and experiences from real estate agents who have used realtor.com’s program — and looked into the program itself — to see whether or not using it is a good idea.
Here’s what you should know.
Realtor.com’s Lead Generation Program Overview
Realtor.com’s program allows you to pay a monthly fee for leads that are delivered to your inbox. These leads are supposed to come to you on a regular basis and they’re marketed as qualified leads that you can nurture and hopefully close on.
The way the program cycle typically works is an agent will contact realtor.com and let them know they want to sign up for the program. After a sales call, the agent will be signed up and should begin receiving leads shortly thereafter.
Realtor.com, as of June 2019, requires that you sign up for a year, so you’ll be locked in for a year of the program regardless of how you feel about the service.
How Qualified Are the Leads?
Depending on who you ask, the leads are either great or horrible. Lead quality is one area of the program that’s difficult to nail down because different agents have different experiences.
However, most agents seem to agree that those who get the most leads and the most success out of the program are the ones who pay the most and are also realtor.com agents.
Of course, the more you pay, the more volume you get, so there’s a better chance that you’ll convert some of those leads. Conservatively, the leads aren’t vetted in any way and are likely to require manual work on your part to narrow them down to the most qualified options.
How Much Does it Cost?
The average agent will spend at least $200 a month for the service. However, you can choose to spend more than that to receive a higher volume of leads. How much it costs depends on how many leads you want.
There are agents who pay $200 a month and get a few leads and some who pay thousands a month and receive a huge amount of leads. It’s really up to how much you want to spend.
It’s worth noting that only 20% of what you pay goes toward lead conversion on your behalf. The other 80% goes to realtor.com.
What Do Agents Say?
On the whole, agents who spend conservatively are underwhelmed with the leads they receive. The one-year contract means they can’t leave, even if they’re unhappy with the service, and customer service as a whole is often reported as lacking.
Most agents feel that for what they pay, the leads they receive aren’t qualified enough, the support they receive isn’t strong enough, and many agents report going months without a single lead.
Having to sign up for a year of paying hundreds to thousands a month for questionable leads without any guarantee of how many leads you’ll get per month seems to be a tiring and frustrating experience for many agents.
While some agents do very well with realtor.com leads, many struggle and express dissatisfaction with the level of service they receive when compared with the price they had to pay for it.
Is There a Better Option?
If spending hundreds to thousands of dollars per month to get an unguaranteed number of leads that may or may not be qualified doesn’t sound like the best use of your marketing budget, know that there are alternatives.
Clever’s Partner Network is different. We supply you with high-quality buyer and seller leads with no upfront costs, which saves you both time and energy on the marketing front. What’s more, our leads are highly vetted, so you’re not going to waste time on junk leads and you’ll close more deals.
Finally, you’ll only pay Clever a referral fee if and when you close a deal, which means you’ll obtain a higher ROI with us than with most other programs on the market.
If you’d like to learn more about becoming a Clever Partner Agent, contact us today.