Purchasing Leads – The Close Your #1 Source For Actionable Real Estate Advice Mon, 24 Mar 2025 15:46:45 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://assets.theclose.com/uploads/2017/12/theclosefbprofile2-60x60.png Purchasing Leads – The Close 32 32 How to Get Clients in Real Estate: Our Top 11 Tips for 2025 https://theclose.com/how-to-get-real-estate-clients/ https://theclose.com/how-to-get-real-estate-clients/#comments Mon, 13 Jan 2025 14:01:04 +0000 https://theclose.com/?p=7955 Take advantage of our 40+ years of real estate sales and coaching experience and learn the proven strategies we used to generate enough clients to build sustainable careers. The best part? You only need to be a little better than the competition to make these work. 

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The real estate industry is very competitive, so learning how to get clients in real estate is a game-changer. Whether you’re just starting or a seasoned pro, obtaining new clients and keeping them will help your business thrive. While it’s essential to acquire clients, you must have the ability to build trust, provide value, and create lasting relationships for repeat business. Let’s dive into 11 proven ways for you to win and retain clients in real estate.

1. Make Professional Connections

  • Best for: Buyer and seller leads
  • Time to get clients: Weeks to months

Forming professional connections is the beginning of learning how to gain clients in real estate. Partner with accountants, lawyers, and mortgage lenders in your transactions. Connecting with these professionals is crucial to building a sphere of influence and referral network. These professionals often interact with people who will eventually need real estate services, and you want to be at the top of their minds when the opportunity arises.

2. Collaborate With Other Businesses

  • Best for: Buyer and seller leads
  • Time to get clients: Weeks to months
A cork bulletin board covered in business cards and flyers.
A cafe’s bulletin board (Source: Tripadvisor)

Getting involved with local businesses to help with cross-promotion is another excellent way to obtain new clients. It’s also a great strategy to boost your visibility and credibility among the local community. Companies to partner with would be moving companies, local coffee shops, and even the local tax accountant. 

Collaborate through hosting events, offering discounts, or agreeing to recommend each other’s businesses. Over time, these relationships will lead to a steady stream of income with little financial investment on your part.

3. Buy Real Estate Leads

  • Best for: Buyer and seller leads
  • Time to get clients: Immediately

Investing in lead generation sources is another effective way to receive buyer and seller leads. Agents can quickly get their businesses up and running by buying real estate leads from reputable companies. This method does save a lot of time compared to other organic methods of getting new client leads. Buying leads will significantly boost your client base and accelerate your business growth.

Mobile phone with new lead notification pop-up.
Mobile lead notifications (Source: Market Leader)

Market Leader allows real estate agents to connect with new clients quickly. Leads received through this real estate lead generator are exclusive and never distributed to other competitors. Agents can select their desired target market to become local experts while taking advantage of the lead volume commitment provided through the platform. Coupled with its CRM, agents can execute automated lead nurturing and marketing.

4. Learn How to Cold-call & Door Knock

  • Best for: Obtaining new exclusive listings
  • Time to get clients: Weeks to months
Business woman knocking on door.

A proactive strategy for getting new clients in real estate is to cold-call and door-knock. Door-knocking is prospecting for clients by physically visiting a home and introducing yourself and your services. Many agents will block off a specific time in their week to select a neighborhood or street and just go door to door. It’s an effective way to learn if clients want to sell or move soon and for agents to distribute their contact information. 

Cold-calling is a lead gen strategy many agents veer away from because they’re intimidated by it. However, the more you practice cold-calling prospective clients and pitching your services, the easier it will become. Learning how to get clients as a real estate agent through cold-calling will take a lot of perseverance and commitment to get new leads. As you cultivate relationships through these methods, you’ll see an increase in short-term leads and long-term client loyalty.

5. Find Your Niche

  • Best for: Seller and buyer leads
  • Time to get clients: Weeks to months

Finding your real estate niche will help you differentiate yourself from your competition and attract clients looking for your specialty. Whether you want to select your niche based on demographics, property type, or types of buyers or sellers, you can tailor your marketing efforts to attract clients within those niches.

To find a niche, agents should find a sector of the real estate market that interests them and has high demand. Then, focus efforts on becoming the best agent within that niche. You can even find additional training or designations that help boost your marketability. As a result, you will begin attracting more targeted clients to sustain your business growth.

6. Leverage the Power of Social Media

  • Best for: Buyer and seller leads
  • Time to get clients: Days to weeks
Screenshot of a Facebook ad with an image of property and agent contact information.
Social media post example (Source: Hootsuite)

If you’re new to real estate, you might wonder how real estate agents get clients. Many use platforms like Facebook, Instagram, and LinkedIn for real estate marketing. These platforms offer access to vast audiences and sophisticated targeting options to reach potential clients where they spend their time. 

Agents should be on all these social media platforms and regularly post high-quality content such as property listings, market updates, and client testimonials to help engage their audience. Social media advertising options are also available to help your posts target specific demographics and promote your services.

Lead capture platform for agents
Lead capture platform for agents (Source: CINC)

CINC helps agents generate high-quality leads with targeted campaigns on platforms like Google and Facebook. Its hyperlocal approach focuses on specific communities, delivering leads tailored to your preferences. CINC simplifies lead management with its advanced CRM and nurturing tools.

7. Invest in a Professional Website

  • Best for: Buyer and seller leads
  • Time to get clients: Days to weeks

A website is fundamental to establishing an online presence and is essential for learning how to get clients as a real estate agent. Websites also provide a sense of credibility to your business and should act as a lead generation tool. Your website should be user-friendly, mobile-optimized, and feature interesting content like property listings, blog posts, and market reports.

Update your real estate agent website regularly with fresh content and ensure it is optimized for search engines to attract organic traffic. Your contact information must also be readily available on your site so prospective clients can easily reach you.

Agent Image website example displayed on a tablet and mobile
Real estate website example (Source: Agent Image)

Agent Image allows agents to build robust, user-friendly websites quickly. The platform offers customizable themes, IDX websites, and pay-per-click solutions so an agent’s website stands out and attracts organic traffic. Using Agent Image for website creation can enhance agents’ online visibility and engage potential new clients.

8. Prioritize Networking Effectively

  • Best for: Buyer and seller leads
  • Time to get clients: Weeks to months

Initially, networking may seem like a daunting task. However, like any muscle, the more you use it, the easier it gets. The better you are at networking, the more successful your business will be. Finding real estate clients through networking will require you to attend local events, join real estate associations, and participate in community activities to expand your contacts and increase your visibility.

Face-to-face interactions with other professionals will help you build trust and allow you to showcase your knowledge and personality. This will make it easier for them to vouch for your services and refer your business.

9. Offer Free Knowledge to the Public

  • Best for: Buyer and seller leads
  • Time to get clients: Months
Building Client Relationships article featured in The Close email newsletter
Email marketing newsletter (Source: The Close)

Offering free knowledge to the public is an excellent way to establish yourself as a trusted authority in real estate. If your content and information are valuable to the public, there is a higher likelihood that they’ll reach out to you for your services or share within their networks. This can include sharing market reports, homebuying guides, and educational webinars.

10. Create a Strong Referral System

  • Best for: Buyer and seller leads
  • Time to get clients: Weeks to months

Developing a strong referral program is key to getting real estate clients. Encourage satisfied clients to refer their friends and family through word-of-mouth. Offer incentives such as gift cards, discounts, or charity donations to motivate clients to refer others. Promote your referral program on your website, social media, and during client interactions. A well-structured referral program will feed your business without costing you much.

11. Invest in Online Advertising

  • Best for: Buyer and seller leads
  • Time to get clients: Days to weeks
Screenshot of Google ad with agent headshot and contact information
Google pay-per-click ad (Source: The CE Shop)

Advertising is a very effective way to obtain new clients who wouldn’t otherwise find your contact information. However, online advertising for real estate leads requires a significant financial investment and a targeted approach. Agents can advertise on Google, Zillow, Realtor.com, or third-party lead generation sites. Set your budget, track your ad performance, and tailor your ads to maximize return on investment.

Frequently Asked Questions (FAQs)





Bringing It All Together

A multifaceted approach to how to get clients in real estate ensures long-term growth. Each method complements the others and keeps your business visible, credible, and competitive in the fast-paced market.

What’s your sure-fire way of getting real estate clients? Share your experience in the comments!

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LionDesk CRM Review: Pricing, Features, Pros & Cons https://theclose.com/liondesk-reviews/ https://theclose.com/liondesk-reviews/#comments Thu, 07 Nov 2024 16:16:30 +0000 https://theclose.com/?p=1462 LionDesk is a powerful and affordable real estate CRM that offers a suite of high-end features—which is why we rated it as our number one pick among CRMs in 2022.

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LionDesk is a valuable real estate customer relationship manager (CRM) that helps manage your real estate business at an affordable price. Plus, it offers a suite of additional features, allowing you to grow your business in increments. It’s a budget-friendly tool to help agents close more deals with less stress.

Did I mention that the LionDesk CRM starts at only $39 per month? Check out my in-depth review of the LionDesk CRM below or jump to their website for a free 14-day trial. No credit card required—you just sign up and get started.

Visit LionDesk

LionDesk’s goal is to give agents, teams, and brokerages one simple tool for organization, lead generation, and lead nurturing. On paper, this sounds pretty simple. But, many software companies offer a Swiss army knife—a bloated tool with a dozen blades and gizmos, none of which work very well. 

LionDesk provides the basic tools to run a successful real estate business at a price that won’t cause a stroke. It’s also a great platform to get up and running quickly and easily without banging your head against the wall trying to figure out how to set it up.

LionDesk CRM scorecard
Pros
  • Clean, customizable dashboard
  • Excellent mass communication tools, including bulk text messaging
  • Automated drip campaigns, including text messages
  • Ability to add on additional features like lead generation and auto-dialer
  • Integrated landing pages
Cons
  • Can feel a bit clunky
  • Transaction management is basic
  • Analytics are basic
  • Not great for scaling large teams or brokerages
The Close Score
4.7
Pricing:
4.6
Features:
4.8
User Interface:
4.6
Automations:
4.5
out
of
5

What Is LionDesk?

LionDesk is a real estate CRM that gets a lot of things right. The software nails the basics, including bulk email, drip campaigns, and automation, while serving up some extras, tailor-made for real estate pros. With LionDesk, agents are in control of how quickly they want to expand their business with add-ons like integrated landing pages, lead generation, and a digital ad portal. 

I was really disappointed, though, to see one of LionDesk’s best features—its artificial intelligence (AI) bot, Gabby—eliminated from the platform. Still, with a 14-day trial, you can take them for a test drive to check out all the features before deciding whether or not they will work for you and your business.

LionDesk Pricing for 2023

LionDesk is one of the most affordable CRMs on the market while still providing a rather robust service to agents, teams and brokerages.

Plan Pricing

PlanPrice (Monthly/Annual)UsersWhat’s Included
CRM$39/$25 per month (40% discount for annual commitment)1CRM, automated drip campaigns, bulk email, video text and email, Facebook lead integration
CRM Premier$139/$83 per month1All CRM features above, single line auto-dialer, landing pages
Brokerages & TeamsCustomCustomCustom

LionDesk provides a full suite of services. In fact, one of the best things about their pricing is the nearly 40% discount for paying annually as opposed to month to month. But I like that they offer the flexibility of not being tied to a contract for agents who aren’t ready to commit.

You can go with the low, flat monthly rate of $39 per month and opt for a few add-ons, which are individually priced. That way, you don’t pay for what you don’t use. LionDesk add-ons include cold-calling power dialers, a digital ad portal, and custom landing pages.

Add-on Pricing

Optional FeaturesPrice
Texting: Bulk texting, 2,000 texts per month, Text-2-Sell, consent tracking$2 per month
Single-line Dialer$99 per month (included with Premier)
Multi-line Dialer$149 per month ($50 per month with Premier)
Landing Pages$29 per month (included with Premier)
Boost Facebook AdsAgent promotion ads at $99 per month and MLS listings ads $59 per ad (ad spend not included)

Comparing CRM Competitors Against LionDesk

The basic CRM from LionDesk at $39 per user, per month makes many other CRMs look pricey. Here’s a quick breakdown of how LionDesk’s price compares with other CRMs:

CRM PlatformPrice per Month
LionDesk$39
Wise Agent$32
Follow Up Boss$69
Top Producer$129
Market Leader$189
Real Geeks$299

In all fairness, some of the best real estate CRMs offer more than just the CRM itself. Some offer a full, all-in-one suite of features including an IDX-enabled website, landing pages, and the CRM to provide an entire ecosystem of services. 

But CRMs are as varied as a giant box of crayons. LionDesk, on one end of the spectrum, lets agents come in at an easy-to-manage price point and then add features as their businesses grows. That way, agents don’t have to pay for services they aren’t using. 

LionDesk does include several native integrations, like Zillow, Facebook, Ylopo, and SmartZip, but in my opinion, the company could stand to add more integrations to its menu. Thankfully, Zapier integrates with LionDesk to allow more flexibility to connect with a variety of applications. 

Video Walk-through of LionDesk

If you want to see the product in action for yourself, Chris Linsell, former senior writer and real estate coach here at The Close, takes you on a personal tour and review of LionDesk in this video. Check it out here:

My Reviews of Key LionDesk Features

Now that we’ve covered pricing and some of the differences between LionDesk and other CRMs, let’s deep dive into the features that are on point with LionDesk.

1. CRM Dashboard (4.6 out of 5)

When you first launch LionDesk from your browser, you’ll land on the dashboard. If you’ve ever used a CRM before, this will feel natural. LionDesk’s intuitive interface reduces the learning curve, so you can jump in and get started right away.

On the left, you have a simple, easy-to-read menu bar that gives you a quick shortcut to the main functions of LionDesk. This is also where you’ll see the Vitals view, which offers a quick snapshot of how you’re doing in your outreach efforts. It keeps a running tally of outgoing and incoming calls, texts, and emails. The Vitals section is customizable so you can pick and choose what’s most important to you.

LionDesk customizable vitals section

The Vitals dashboard is a visual way to encourage agents to push past their comfort zones and take their businesses to the next level. Only called three leads this week? You’ll see that number every time you log in to your LionDesk CRM. You also can view recent contact activity, see which tasks are due, track your expected total sales, and measure your activity for the year.

Your dashboard is highly customizable, which is ideal since no two real estate businesses are the same. The interface is clean and simple, not packed with distracting colors and graphs, which allows you to focus on the essential information and tasks. 

When I first started using LionDesk, I felt the dashboard was clunky (and if I’m being honest, kinda ugly) and not as much fun to look at. But I’ve come to appreciate the simplicity. I now understand that this streamlined approach eliminates distractions and helps me focus (and I definitely need help with that!) on the tasks I need to complete instead of on bells and whistles that can easily derail my productivity. 

2. Organization Tools (4.8 out of 5)

If you click over to the Contacts tab, you can quickly add or edit a current contact, bulk upload contacts from another platform with a CSV file, or directly import your contacts from platforms such as Gmail.

When you click on a contact, you get a wealth of information: emails opened, previous calls or texts, and as much biographical or deal data as you have on your leads. The information is tucked behind accordions, so while it’s all there, looking at a contact is not overwhelming.

LionDesk contact all activity dashboard

You can add custom fields for your contacts, such as how many children they have, their dog’s name, their favorite baseball team, and their credit score. All of this granular data comes in handy when it’s time for client outreach.

From this contact card, you can email, text, and even call your lead directly. Hit that little phone icon and your cell phone rings, connecting you. Imagine sitting in front of your computer, doing your regular calling, taking notes right inside your contact card. You can also add activities and tasks and include the contact in a campaign. Everything is right at your fingertips.

3. Bulk Communication Capabilities (4.5 out of 5)

Outreach in the LionDesk CRM is straightforward. You can reach out to your database in bulk based on your campaign strategy, saving you countless hours on the keyboard.

You can even set rules for leads from various sources. For example, you can set LionDesk to trigger a specific text message or video text message and send it to leads from your Facebook ads.

LionDesk has several campaigns already built and ready for action with specific groups such as closed clients and leads seeking home valuations. You can customize these campaigns if you want to, but they’re ready to go right out of the box.

LionDesk CRM campaigns

One nice addition to the LionDesk outreach is Cloud CMA. Cloud CMA is designed to pull data from your MLS to create a comparative market analysis in minutes. Since LionDesk’s acquisition by Lone Wolf, if you have a Cloud CMA account, it’s integrated with your LionDesk CRM. Don’t worry if you don’t have one—you can easily set one up. Once your account is connected, you can quickly and seamlessly create and send out a comparative market analysis to anyone in your database right from the contact page.

Access Cloud CMA capability from inside the dashboard

Bulk Emails

LionDesk makes it easy to send bulk emails to your contacts. For example, you can blast out a new listing to buyers, a quick intro to new contacts, or even a holiday video to your entire list.

LionDesk has a feature to help you see activity on your campaigns. So if any of your contacts opens and interacts with your email, you’ll know to jump in and engage with them, boosting conversion rates.

Bulk Texts

If you want the higher open and response rates you get from texting, LionDesk lets you set up mass text campaigns just as easily as email campaigns. Send out that new pocket listing to your hottest buyer leads via a quick text. 

Video Emails & Texts

One of the coolest features is the ability to record video directly in the platform and send it out to your leads via email or text message. I absolutely love having this feature baked into the platform. I used to have to integrate BombBomb into my CRM to access these kinds of video messaging features. With LionDesk, you can record a whole batch of videos and have an arsenal ready to add to any email or text message.

LionDesk CRM Video Emails & Texts

Texts get high open and response rates and videos are more personal, so why not combine the two and text out a walk-through of that pocket listing before it even hits the market?

Visit LionDesk for a Free Trial

4. Text-2-Sell

Using the personal phone number LionDesk provides, you can encourage leads to text you to ask for more information about a listing, a special buyer’s guide, a foreclosure list, or pretty much anything else. To be clear, this is an add-on feature included with texting, but at just $2 per month extra, it’s a pretty cool feature and worth the additional cost. 

Once a lead sends a text, LionDesk automatically responds and captures the lead’s phone number and contact information, adding it to your database. This is perfect for sign riders, flyers, or postcards when you want to track the effectiveness of your ads and collect phone numbers instead of emails.

Related Article
Predictive Analytics in Real Estate: Best Practices & Software for Agents

5. Landing Pages

LionDesk added the ability to create landing pages that will capture and integrate lead information. You can use one of their many templates and customize it with the easy-to-use, drag-and-drop design tool for an additional $29 per month. The pages are quick-loading, search engine optimized, and mobile responsive.

Examples of website templates inside LionDesk

6. The Power Dialer (4.8 out of 5)

LionDesk’s power dialer will let you upload and cruise through a list of for sale by owner (FSBO) or expired listings in one power session. While cold calling isn’t for everyone, you can also use cold calling scripts to follow up with your sphere of influence monthly to shake loose some referrals.

That said, the power dialer is not included in LionDesk’s already very tempting base price, as not every agent will need or want it. Instead, they offer the power dialer for serious cold callers for $99 to $149 per month, depending on whether you want single or multiple lines. A single-line dialer is included in the CRM Premier package. Premier users will have to pay an additional $50 per month for a multi-line.

Related Article
7 Proven Real Estate Cold Calling Scripts for Fearless Lead Gen

7. Facebook Ad Partnership (4.5 out of 5)

One of the dirty secrets of online advertising is that Facebook’s Ads Manager, while much easier to use than its previous iterations, is still a pain because it’s constantly changing. Who has time to keep up with Zuck’s mood swings, which seems to be how Facebook determines when to implement its latest changes?

LionDesk Facebook Ad Partnership

LionDesk used to provide Facebook ad design in-house. However, they have now partnered with Boost, where you can create custom ads by uploading images and videos, curate your audience, and even pull MLS data to create instant listing ads.

LionDesk custom ads

Once the ads are built and distributed, everything is totally integrated with your LionDesk account. The automation works its magic, and you reap the rewards. 

Boost is a separate subscription: Running agent promotion ads cost $99 per month, and listing promotions built from MLS listings are $59 per ad. Of course, that doesn’t include the ad budget.

Related Article
Real Estate Facebook Ads: 8 Best Practices & Examples for Agents

8. Brokerage Functions (4.8 out of 5)

Brokers can view advanced reports on leads, build drip campaigns assignable to individual agents, and get a global view of all deals in the office. LionDesk offers round-robin or time-based rollout lead distribution for teams and brokerages—perfect for setting everyone up with leads but not breaking the bank.

9. Document & Transaction Management (4.6 out of 5)

If you’re the type of agent who tends to accumulate PDFs (and who isn’t?), you can store documents right in LionDesk and access them from everywhere. 

The LionDesk CRM offers basic transaction management features to track deals, organize documents, and communicate with clients and other parties. While this is not a fully featured accounting package, it gets the job done. If you’re already using Dotloop or another piece of transaction management software, LionDesk has an integration that lets you plug it right into your workflow.

10. Integrations & Lead Management (4.6 out of 5)

Speaking of integrations, LionDesk is an open API, making it easy for other companies to plug in their software and stay compatible. For example, you can auto-import leads from Zillow, realtor.com, Trulia, and SmartZip—or set up blended campaigns from each source. 

You can fully customize your LionDesk experience by integrating the software you use for accounting, transaction management, and marketing. Linked to companies from Agent Shield to Zurple, the list of LionDesk integrations is massive and constantly growing.

Visit LionDesk for a Free Trial

LionDesk Alternatives

With all the great features LionDesk has to offer, it may not be the perfect solution for every agent out there. For high-producers or larger teams, it may lack some important features.

It’s fair to say that there may end up being a big tradeoff between a robust lead generation and website system a larger budget can provide. For example, if you prioritize a CRM with texting and video messaging, you probably won’t get it with one of the all-in-one platforms. So, it’s important to decide what really matters most for your business and your team before you commit to any platform. 

In that spirit, here are a few other CRM alternatives you can consider alongside LionDesk. I’ve linked a review from The Close to each of the companies below so you can explore further.

CRM PlatformBest For
Market LeaderAgents and small teams who want an integrated paid lead generation system with their CRM
Follow Up BossAgents and teams who want more flexibility to customize their CRM but don’t need a website or paid lead generation
Real GeeksAgents and teams who want a scalable, all-in-one, integrated website and lead generation system with more done-for-you features
Wise AgentAgents and small teams who are less familiar with real estate tech and need additional training and customer support
Top ProducerBrokers and teams who want a paid lead generation and nurturing system with team lead management
PropertybaseBrokerages and large teams who need to level up their lead generation and nurturing to increase their ROI

As you can see, real estate CRMs offer a spectrum of services and features. It depends wholly on what you want to do with your CRM as to which one will be the right fit for you and how you want to grow your business. And just because you choose one today doesn’t mean it will be the only CRM you ever use. Pick one that works for you, and when your business is ready to move to another platform, you can always shop around and see what the market has to offer.

Related Article
The 6 Best Free Real Estate CRMs for 2025

Bottom Line: How Does LionDesk CRM Stack Up Against Other CRMs?

If you’ve been putting off trying LionDesk, you’re missing out on a valuable real estate CRM that offers great features like lead nurturing, transaction management, video emails, and blended campaigns. 

In my opinion, LionDesk is a very attractive option for newer agents who don’t want to spend a ton of money. Though I was quite disappointed to see the Gabby AI bot killed off, I hope that LionDesk will bring back something even better to replace her. As of this writing, Gabby has not been replaced, and I’m really scratching my head over why. 

As a real estate instructor specializing in AI for real estate, I know how important a bot can be for nurturing and converting leads, especially for newer agents. I often talk about the many ways agents can leverage the tech in their businesses to get time back for more important stuff, like getting face-to-face with clients. So, for that reason, I see the killing off of Gabby a step back in the wrong direction. 

LionDesk was one of the first CRMs on the market to feature an AI bot that could act as an inside sales agent and help warm up leads. That placed them securely in the front of the CRM pack. Sadly, doing away with that feature will most likely change the way I (and many agents who loved Gabby) feel about their foothold in the marketplace in the future.  

Methodology: Why You Can Trust My Review

I’ve been a licensed real estate agent since 2018, and I’ve tested lots of CRMs. When I assess these software solutions, I approach them through the lens of a practicing agent who would use the platform in my real estate business. 

Using this expertise, I developed a rubric to weigh each software product against its competitors in an objective and balanced way, while adding context to my assertions.  To put together my rubric, I looked at dozens of real estate-specific CRMs and analyzed each one based on these criteria:

  • Pricing
  • Features
  • Integrations
  • Ease of use
  • User interface
  • Learning curve for implementation

 I also took into consideration any additional systems for: 

  • Marketing 
  • Data analytics 
  • Transaction management 
  • Pipeline management 
  • Automation

You can learn more about our methodology here.


Your Take

I encourage you to see for yourself whether LionDesk will work for your business using its free 14-day trial. It doesn’t even require a credit card. Play around with the functions and interface to get a feel for the platform. 

But remember, the best CRM for your business is the one you use. So, you ultimately need to decide what works best for you. Have a CRM question or opinion to share? Drop us a line in the comments below.

The post LionDesk CRM Review: Pricing, Features, Pros & Cons appeared first on The Close.

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Mojo Dialer Review: Pricing, Features, Pros & Cons https://theclose.com/mojo-dialer-review/ https://theclose.com/mojo-dialer-review/#comments Wed, 04 Sep 2024 13:31:42 +0000 https://theclose.com/?p=78263 Auto-dialers have the power to triple the output of a real estate agent’s cold-calling outreach and get them in front of leads before the rest of the pack. But is Mojo right for you?

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Mojo Dialer is a powerful cold-calling platform that makes lead generation easy for real estate agents. With the dialing part automated, agents can easily multitask by reaching more prospects within the shortest time possible. In this review, I dissect the features, Mojo Dialer reviews from agents, usability, and general effectiveness of the platform for real estate agents. If you’re ready to take your cold calling to the next level, continue reading to discover if Mojo Dialer is for you.

Mojo Dialer logo

Pros:


  • Efficient multi-line dialing for faster prospecting
  • Smooth lead management with CRM integration
  • Ability to prospect on the go with mobile application
  • Customizable

Cons:


  • Can get expensive with lead store add-ons
  • Limited onboarding and training services
  • May require some technical knowledge for API integrations
  • No transaction management capabilities

My Verdict on Mojo Dialer & Why You Should Trust It 

When reviewing most lead generation-focused products like Mojo Dialer, I approach the arena thoughtfully and knowledgeably. I have put hours of research into reviewing all sorts of technology products, so I am confident in my findings and sensitive to what it takes to make agents effective in their business. My reviews are composed of hands-on research with a keen ability to compare technology to similar products while considering the feedback provided by actual users of such platforms. 

After looking at Mojo Dialer, I see it is indeed one of the finest tools for agents when cold calling. The app shaves off the burden of prospecting, so agents can spend more time focusing on relationship-building and closing. They no longer have to carry the weight of finding the contacts, picking up the phone, and dialing. Though no tool is perfect, Mojo Dialer offers agents efficiency and results. It delivers a worthwhile investment should you be a real estate professional needing to upscale your lead-generation activities.

Mojo Dialer Alternatives

While Mojo Dialer will service hard-core cold callers quite well, it could be better for some. Some real estate professionals might look for alternatives if they want features such as integrated CRM systems, more advanced automation tools, or a dialer that seamlessly connects with their existing platforms. Here are a few dialer alternatives:

Software
Why It’s a Great Alternative
Learn More
Ready to Purchase?
redx logoGives agent access to for sale by owner calling lists
REDX Review
Visit REDX
Sierra interactive logoAvailable lead generation through IDX websites
Sierra Interactive Review
Visit Sierra Interactive
LionDesk logoOffers email marketing and drip campaign capabilities
Lion Desk Review
Visit Lion Desk
Expired, FSBO, FRBO/Investor Leads plus Neighborhood Search Data
No review yet
Visit Vulcan7

Key Features of Mojo Dialer

Mojo Dialer makes lead generation easier and increases productivity by giving real estate agents innovative cold-calling features. It offers tools that make prospecting much more organized, so an agent can spend time on deal closure rather than manually finding ways to connect with prospective clients. The comprehensive set of features helps real estate agents run their day-to-day operations, staying connected to leads and monitoring progress efficiently. 

Prospecting Dashboard

Dashboard showcasing call statistics
Prospecting dashboard (Source: Mojo Dialer)

The Mojo Dialer prospecting dashboard is your nerve center for prospecting processes. From the dashboard, agents can gauge their daily activity at a glance. This visibility includes calls made, appointments set, and follow-ups needed. Agents can easily track their performance in real-time along with any performance metrics to keep pace with lead generation activities. The dashboard lets you group and prioritize your calls to make the most of every session. 

Mobile Application

 Screenshot of mobile application with caller information
Mojo Dialer mobile application (Source: Mojo Dialer)

Mojo Dialer’s mobile application is a game-changer for agents on the move 24/7. It allows you to take your prospecting on the road with the dedicated mobile app, enabling you to call and manage leads from your smartphone or tablet. The mobile app keeps you connected and productive whether you are heading between showings or off to client meetings. Plus, it syncs with your desktop account to pick up where you left off without missing a beat.

Doorknocker

Screenshot of mobile application providing neighborhood contact information
Doorknocker information (Source: Mojo Dialer)

Doorknocker is perfect for agents who combine cold calling with traditional door-to-door prospecting. With this dedicated mobile application, you can outline a neighborhood and track which doors you’ve stopped at, even leaving notes for follow-up. This feature helps agents add a personal touch to an in-person visit and makes following up on any potential lead super easy after a door-knocking session. The Doorknocker feature will organize your door-to-door efforts to maximize your face-to-face outreach.

Customer Relationship Manager

Screenshot of CRM with client information and details
Mojo Dialer CRM (Source: Mojo Dialer)

Mojo Dialer has an integrated CRM that makes lead management much easier. Agents can store contact information, record interactions, and even set reminders for subsequent calls or emails with the CRM. Since the CRM is integrated into the Mojo platform, your lead data will be in a central location, making pipeline administration more manageable without using another system. This allows agents to work on building relationships and tending leads properly.

Integrations

Screenshot of available integration icons
Mojo Dialer integrations (Source: Mojo Dialer)

The numerous integrations available with Mojo Dialer let agents connect the platform to other tools they use daily. Whether you have to sync it up with an existing real estate CRM, integrate it with email marketing platforms, or connect to other real estate software, Mojo Dialer integrations ensure your systems work seamlessly together. This flexibility enhances the platform’s overall efficiency and enables agents to perform tasks without juggling multiple disconnected tools.

Mojo Dialer Pricing

Mojo Dialer has tiered pricing for solo agents and teams. Each plan provides access to the CRM, copper-based hosted dialer with first hello technology, pre-recorded answering machine message drops, and multiple caller ID broadcasts. With upgraded plans, agents and teams can access lightning-fast live answer detection. 

Here’s a breakdown of Mojo Dialer Cost:

Product
Price for agents
Price for teams
Single Line Dialer$99 per license$89 per license
Triple Line Dialer$149 per license$139 per license
Mojo CRMIncluded$10 per user

Methodology 

At The Close, our research team performs thorough research to find the best cold-calling and prospecting platforms for real estate professionals. In this particular case, we have reviewed Mojo Dialer regarding efficiency for lead generation, features, ease of operation, pricing packages, and the level of customer support extended to users. We also looked at user feedback to see if Mojo Dialer is good enough to satisfy the needs and expectations of real estate agents.

Precise and reliable intelligence from our team helps agents and brokers make informed decisions in such a competitive arena. This research aims to provide readers with critical information that will help them enhance their lead-generation strategies and find success within the real estate industry.

Here’s how we evaluated Mojo Dialer: 

  • Pricing: 
    • We evaluated Mojo Dialer’s pricing by comparing the cost and availability of its plans to those of competitors in the industry.
  • Features: 
    • Mojo Dialer scored highly for its comprehensive feature set, which includes multi-line dialing, a built-in CRM, and a mobile app for on-the-go prospecting.
  • User Interface: 
    • The platform was evaluated for its intuitive design, whether it simplifies navigation, and whether it reduces the learning curve for new users. 
  • Support: 
    • Determined the availability and methods by which agents could get support. 
  • Ease of Use: 
    • Took into account whether agents could launch the platform with minimal training and whether technical capabilities were required to use the platform. 
  • Expert Scoring:
    • Our expert scoring aggregates all of these factors, considering pricing, features, user interface, support, and ease of use. 

Read more about our methodology here.

FAQs




The Bottom Line: Is Mojo Dialer Worth Your Money? 

The Mojo Dialer can be a game-changer for those agents who are prepared and confident enough to take on phone prospecting directly. Whether it be initial contact or following up with existing leads, the dialer offers different calling strategies for your needs. 

However, this may not be the best platform for agents looking toward other multi-channel outreach options, such as texting or email marketing. In the end, Mojo Dialer is worth investing in for agents who consider cold calling the prime axis of their strategy and can potentially improve lead generation a lot.

The post Mojo Dialer Review: Pricing, Features, Pros & Cons appeared first on The Close.

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Real Estate Lead Conversion Guide: 8 Steps to Close More Deals https://theclose.com/real-estate-lead-conversion/ https://theclose.com/real-estate-lead-conversion/#comments Fri, 26 Apr 2024 16:30:34 +0000 https://theclose.com/?p=84092 Learn the basics of lead conversion and strategies that are tailored for different types of leads. Finally, we'll wrap up our comprehensive guide with some tips to scale your business.

The post Real Estate Lead Conversion Guide: 8 Steps to Close More Deals appeared first on The Close.

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Real estate lead conversion is essential for your business to thrive. Throughout my career, I’ve successfully converted hundreds of leads and built a referral-generating database, but it took time to master the art of lead conversion. Cold leads can be challenging, but I significantly improved my lead conversion rate by developing simple strategies and focusing on basic sales techniques.

I’ll cover the fundamentals of real estate lead conversion, share my proven strategies for converting leads, provide tips for scaling your business, and include links to additional resources to support your growth. Let’s dive in.

What Are Leads in Real Estate?

Leads can come from various sources, such as online inquiries, paid lead generation companies, open houses, or referrals. When determining what is a lead in real estate, it’s crucial to distinguish between leads, prospects, and your sphere of influence to target your lead conversion efforts effectively.

  • Leads: Potential clients who have expressed interest in your services or properties by providing their contact information or responding to your marketing efforts but have yet to be qualified based on their readiness to buy or sell.
  • Prospects: Qualified leads who have engaged in meaningful conversations with you and are actively considering working with you based on their level of interest, financial readiness, and urgency to buy or sell.
  • Sphere of Influence (SOI): People who know, like, and trust you, such as past clients, family, friends, and acquaintances. They may refer leads to you or become clients, even if they are not actively looking to buy or sell.

Understanding these distinctions allows you to tailor your approach and allocate resources effectively, from initial contact and lead qualification to nurturing prospects and consistently engaging your sphere of influence for referrals and repeat business.

What Is Lead Conversion?

Lead conversion is turning a potential client (lead) into a closed deal. As real estate agents, we invest significant time and effort into generating leads, but the true reward comes when we convert those leads into sales or listings. 

Converting a lead involves building trust, demonstrating expertise, and providing value that differentiates you from your competitors. By understanding and optimizing each stage of the conversion real estate journey, from initial contact to closing the deal, you can create a systematic approach to guide more leads toward successful transactions.

I researched several statistics to give you a big picture view of how vital lead conversion is versus how much you can improve in lead management. Check them out to see how much lead conversion in real estate and other industries can be essential to your overall success.

What is Lead Conversion
  • The average reported conversion rate for online real estate leads is 2% to 3%. (Source: Inman)
  • National Association of Realtors® estimates the actual conversion rate is between 0.4% and 1.2%. (Source: NAR)
  • The average lead response time is 47 hours. (Source: ServiceBell 2023)
  • Only 27% of leads get contacted at all. (Source: ServiceBell 2023)
  • On average, only 1.3 call attempts are made before giving up and moving on. (Source: Forbes)
  • It typically takes eight or more touches to convert a lead. (Source: RAIN Group)
  • According to the NAR, 41% of homesellers find their agent through a referral from a friend. (Source: NAR)
  • Sales conversions are 391% higher in the first minute. (Source: ServiceBell 2023)
  • 82% of consumers expect responses within 10 minutes. (Source: ServiceBell 2023)
  • Thursday is the best day to respond. (Source: HubSpot)
  • Over 30% of leads are never contacted at all. (Source: HubSpot)

When people talk about converting leads, they typically mention conversion rate, which is simply how many leads out of the total you generate usually turn into sales. For example, if you generate 100 leads and five become clients, that’s a 5% conversion rate. 

Stages of Lead Conversion: Understanding the Buyer’s Journey

When asking how to convert leads in real estate effectively, it’s critical to understand how buyers and sellers think when making a purchasing decision. By recognizing the psychological process that every person goes through, you can better understand your role in guiding them through their decision-making journey.

The buyer’s journey, also known as the sales funnel or pipeline, is a key concept in lead conversion. The infographic below illustrates the typical stages a buyer goes through when making a purchasing decision.

Infographic showing the 4 stages of the buyer's journey
The buyer’s journey (the sales funnel) shows people’s purchasing steps.

When you first encounter a lead, whether they’ve come through a lead generation source or organically, they may not be actively seeking your services, so they enter at the top of the funnel, the widest part, and begin working their way through the process. Here are the steps they will follow as they find their way through the funnel.

  • Awareness: In the awareness stage, your lead learns about you and the services you provide but may not be in the market for them just yet.
  • Consideration: As you continue building a relationship with that lead, they will eventually enter the consideration phase, where they weigh whether or not they need your services.
  • Decision: Once your lead has considered all their options, they will enter the decision phase to determine if your services are right for them. 
  • Loyalty: In this stage, satisfied past clients share their experience with their sphere of influence. They become your evangelists, telling everyone they know how amazing you are. These people are a significant source of referrals that can sustain your business for years. You must pay attention to this phase if you want your business to thrive.

It’s essential to recognize that every person who makes a purchase, from choosing a tube of lipstick to investing in real estate, goes through the buyer’s journey. While the length of time may vary, the mental process remains the same. 

The time it takes to convert a real estate lead can vary greatly depending on several factors, such as the lead’s readiness to buy or sell, their specific needs and preferences, and market conditions.

Some leads may be ready to take action immediately, while others may require weeks or months of nurturing before they’re prepared to move. The lead conversion process can take anywhere from a few days to several months.

By understanding and catering to each stage of the buyer’s journey, you can effectively guide your leads through the funnel and ultimately convert them into loyal clients who will support your business for years.

8 Real Estate Lead Conversion Strategies

Now that we’ve covered what lead conversion is, let’s get into my best strategies for converting those leads into sales. These strategies generally apply to all leads, regardless of type.

1. Respond Quickly to Inquiries

You may not want to hear this, but stats show the agent who contacts a lead first is often the one who gets the gig. In fact, 78% of leads work with the first person who responds. Whether an agent receives a call from a paid ad, responds quickly to an inquiry from Zillow, or reaches out to a FSBO, chances are the agent who makes the first contact is the only agent that the lead will interview. 

Ideally, you should follow up with a new lead within five minutes of receiving their inquiry. Studies have shown that following up within five minutes can increase your chances of converting a lead by as much as 21 times compared to waiting just 30 minutes. If you can’t respond immediately, aim to make contact within the first hour or at least within 24 hours.

📌   Pro Tip

When you receive an inbound lead, you often won’t be the only agent who receives it. So don’t let your phone go to voicemail. Answer it. And if they don’t answer your calls, send a text, follow-up with an email, and keep following up. Never remove a lead from your pipeline unless they actually say “no.”

After the initial contact, follow up every three to five days with a mix of phone calls, emails, and text messages. This plan keeps you top of mind without being overbearing. Adjust your follow-up frequency based on the lead’s responsiveness and level of engagement. Be prompt and persistent, and provide value to convert leads into clients.

2. Qualify Your Leads

Qualifying a real estate lead is vital for improving your overall lead conversion rate. Determine their readiness to buy or sell to ensure you invest your time and effort in the right prospects. To effectively qualify a lead, ask targeted questions that uncover their motivations, timeline, and financial readiness.

Some key qualifying questions to ask include:

  • What prompted you to start considering buying/selling a property?
  • What is your ideal timeline for making a move?
  • Have you been pre-approved for a mortgage (for buyers), or do you clearly understand your home’s value (for sellers)?
  • What are your top priorities in a new home or in the selling process?
  • Are there any specific circumstances or challenges I should be aware of?

By asking these qualifying questions and actively listening to the lead’s responses, you can gauge their level of motivation, identify potential obstacles, and determine how best to assist them in their real estate journey. You won’t convert every lead, but understanding where each lead is in the journey can improve your ability to close them in the future. When questioning these leads, the goal is to uncover their needs and assess their readiness to take action, not to pressure them into deciding before they’re ready.

3. Personalize Your Communication

Personalizing your communications with your leads is essential for building trust. By tailoring your approach to each lead’s specific needs, preferences, and interests, you demonstrate you value them as individuals and are committed to helping them achieve their real estate goals. 

Here are a few ways to personalize your communications with your leads:

  • Gather and use lead data to craft targeted marketing messages.
  • Address your leads by name in all of your communications.
  • Segment your list of leads based on shared characteristics, such as first-time homebuyers, investors, and luxury buyers.
  • Adapt your communication style to match your lead’s preferences (text, email, phone call, etc.).
  • Use a customer relationship manager (CRM) or marketing automation platform to personalize your marketing emails at scale.
  • Show empathy and acknowledge your leads’ concerns and aspirations in all of your communications.

Personalizing your communication will differentiate you from your competitors, build stronger relationships with your leads and prospects, and increase your likelihood of converting them into clients. Authenticity is your best friend—your leads will appreciate your sincerity, showing you care about their personal needs and goals.

4. Provide Valuable Content & Resources

Building trust with your audience is essential in converting your real estate leads. Creating content helps validate your expertise to those leads who have just entered your funnel. Use your social media, website, blog, and YouTube channel to create value-driven content your audience wants. Deliver entertaining and engaging posts that will encourage your followers to come back again and again.

Here are a few types of content you can create to nurture your fresh leads:

  • Educational blog posts:
    • “10 Essential Steps to Buying Your First Home”
    • “The Ultimate Guide to Preparing Your Home for Sale”
    • “Understanding Real Estate Market Trends in [Your Area]”
  • Informative email newsletters:
    • Monthly market updates and analysis
    • Upcoming local events and community happenings
    • Showcasing recently sold properties and success stories
  • Engaging social media posts:
    • Quick tips for homebuyers and sellers
    • Polls and questions to encourage interaction
    • Live Q&A sessions or virtual open houses
  • Helpful lead magnets:
    • “The First-time Homebuyer’s Checklist”
    • “10 Costly Mistakes to Avoid When Selling Your Home”
    • “The Ultimate Moving Checklist and Planner”
  • Personalized property recommendations:
    • Curated lists of homes that match the lead’s specific criteria
    • Neighborhood guides and local market insights
    • Virtual tours and property walk-through videos
  • Customer testimonials and case studies:
    • Showcasing successful transactions and satisfied clients
    • Highlighting unique challenges and how you overcame them
    • Demonstrating your expertise and dedication to client success
  • Educational webinars or workshops:
    • “First-time Homebuyer Seminar: What You Need to Know”
    • “Maximizing Your Home’s Value: Expert Staging Tips
    • “Navigating the Mortgage Process: A Step-by-Step Guide”
  • Seasonal and holiday-themed content:
    • “10 Festive Home Decor Ideas for the Holidays”
    • “Summer Home Maintenance Checklist”
    • “Preparing Your Home for Cooler Weather”
  • Local market reports and analysis:
    • Quarterly market updates and trends
    • Neighborhood-specific market insights
    • Comparing local market performance to national trends
  • Interactive quizzes and assessments:
    • “What’s Your Homebuying Budget?”
    • “Is Now the Right Time to Sell Your Home?”
    • “Discover Your Dream Neighborhood”
  • Video content:
    • “Neighborhood Spotlight” video series showcasing local areas
    • “Homebuying 101” video course for first-time buyers
    • “Ask the Agent” Q&A video series addressing common questions
    • “Before and After” home transformation videos
    • “Meet the Team” videos introducing yourself and your colleagues
    • “Client Success Story” videos featuring past clients’ experiences
    • “Home Staging Tips” video tutorials
    • “Live Market Update” videos sharing the latest trends and insights
    • “Virtual Open House” videos for featured listings
    • “Homeowner Hacks” video series with DIY tips and tricks

You can repurpose your content on multiple channels to maximize the reach and use of each piece of content you create. By focusing on topics your leads need or want to know about, you elevate yourself to the top of the market as the neighborhood expert, building trust and becoming a valuable resource. 

An email sent out as part of a military home buyers series with additional information and resources (VA Home Buyer's Guide) in the email.
Share valuable content with your audience to keep them engaged.

Video converts 1.6% higher than any other form of content. I started my YouTube channel by creating videos weekly to generate leads. I continued to make videos every week, and my lead generation exploded. The best part is that my videos helped give me credibility, so when my leads were ready, I didn’t have to do much to convert them.

5. Nurture Leads Through Targeted Campaigns

Targeted email campaigns are essential for guiding your newly acquired leads through the buyer’s journey and increasing your conversion real estate rates. Email allows you to share valuable content, personal stories, and insights that resonate with your leads.

Set up targeted drip email campaigns for each lead type, utilizing customizable, ready-made campaigns offered by many CRMs to save time and effort. Consider incorporating the following types of emails in your nurturing campaigns:

  • Welcome emails: Introduce yourself, set expectations, and provide an overview of what your leads can expect from your emails.
  • Educational emails: Share helpful information about the buying or selling process, such as tips for preparing a home for sale or understanding mortgage options.
  • Market update emails: Keep your leads informed about the latest trends and statistics in your local real estate market.
  • Personalized emails: Use your leads’ data to send targeted emails that address their specific interests, needs, or concerns.
  • Video emails: Personalize your emails by incorporating videos that showcase your expertise, share success stories, or provide virtual property tours.
  • Newsletter emails: Start a monthly email newsletter featuring fun and educational content that drives subscribers back to your website.
  • Lead magnet emails: Offer useful resources, such as guides, checklists, or e-books, tailored to leads in the decision-making process.

Remember, consistency is key when nurturing leads. Invest time creating a comprehensive nurturing campaign that keeps your leads engaged and moving through the funnel.

Use a CRM like Wise Agent to streamline your lead management and email marketing efforts. With a CRM, you can easily manage your leads, capture them with landing pages, and automate a significant portion of your email campaigns.

6. Engage Leads Through Multiple Channels

Your leads and prospects will be in multiple places. You’ll need to diversify your strategy to increase your chances of reaching them all. You can reach your leads through various channels to stay top of mind and maintain an omnichannel presence. 

Here are some ideas for a multi-channel plan of action:

  • Email: Send targeted, personalized emails that provide value, educate, and nurture your leads through their journey.
  • Phone calls: I know it seems dated, but I recommend following up with leads via phone to establish a more personal connection, answer questions, and gauge their readiness to buy or sell.
  • Text messages: Use text messaging for property updates, appointment reminders, or quick check-ins.
  • Social media: Engage with leads on social media platforms by sharing relevant content, responding to comments and messages, and showcasing your expertise.
  • Video: Incorporate video into your communication strategy, such as property tours, market updates, or personalized messages, to add a human touch and build trust.
  • In-person events: Host or attend events, such as open houses, seminars, or community gatherings, to meet leads face-to-face and build relationships.

Make sure your messaging is consistent and on brand. Use a good CRM to track your interactions across channels and provide a seamless experience for your leads and clients. Using a multi-channel approach allows you to meet your leads where they are and provide valuable information where they’re already looking. You’ll be able to build stronger relationships more effectively, increase your chances of converting your leads easier, and grow your real estate business faster.

Need some help getting your social media on track? Coffee & Contracts offers easy-to-use templates, stylish design, and a content calendar to keep your social posts consistent to build that know, like, and trust factor with all your prospects and leads.

7. Leverage Social Proof & Testimonials

One thing that can skyrocket your conversion rate is social proof. Think about how often you are on the fence about purchasing and pop over to Amazon to find product reviews. We need affirmation, and glowing testimonials are the 5-star rating for real estate professionals.

When you’re working with leads, both buyers and sellers, they need to be reassured that you can get the job done for them. Your testimonials will help them feel at ease enough to finally say “yes” and sign on your buyer’s or listing agreement’s bottom line.

📌   Pro Tip

Set up a process to automate your testimonials. You need to do this because most people, no matter how much they loved working with you, will not give you a testimonial after just one ask. In my experience, it’s typically taken at least three times to push them to share their experience. Everyone is busy, and your nudging will be the gentle reminder they need.

I have discovered a secret that removes some obstacles to getting testimonials: Use your smartphone camera to take a video testimonial with your clients at closing. Catch them when they are most willing to share positive thoughts on how awesome you are to work with. Get permission to post those video testimonials on your website.

The best part about video testimonials is their authenticity. They make a much more significant impact on people who are deciding whether or not to work with you. Just like you prefer to see videos of people using products on Amazon, your leads will love seeing people genuinely, in their own words, talk about how fun and professional you are.

Want to see some examples of video testimonials? Check out this article for inspiration: 14 Real Estate Testimonial Examples to Inspire Your Referral Marketing.

8. Continuously Refine Your Lead Conversion Process

If you want to crush it in the real estate game, you can’t just set it and forget it. You must keep your finger on the pulse of your lead conversion process and ensure it’s always running like a well-oiled machine.

Here’s how you can stay on top of your game:

  • Track your metrics: Monitor key numbers, such as response times and conversion rates, to determine what’s working and what’s not.
  • Analyze and adjust: Regularly examine your data to spot trends and opportunities. If something’s not working, don’t be afraid to change things.
  • Test, test, test: Try different strategies and see what resonates with your leads. A/B testing is your friend.
  • Listen to your people: Ask your leads and clients for feedback on their experience. 
  • Stay in the know: Keep up with the latest and greatest in real estate lead conversion. Never stop learning and growing.
  • Automate and optimize: Use tools like CRMs to streamline your process and save time. But don’t let them gather dust—keep tweaking and improving!

By constantly refining your lead conversion process, you’ll stay ahead of the curve, turn more leads into raving fans, and watch your business soar. So, don’t be complacent—keep pushing, improving, and crushing it!

Frequently Asked Questions (FAQ)





Bringing It All Together

Real estate lead conversion is a real, attainable skill. Anyone can learn to be good at converting. But it takes practice and confidence. Implement some of these strategies to scale faster and more efficiently in your real estate business. Work on improving your conversion rates to improve your return on investment (ROI). 

Did I miss anything? Have a few real estate conversion tips you want to share? I would love to hear them! Share them in the comment section below.

The post Real Estate Lead Conversion Guide: 8 Steps to Close More Deals appeared first on The Close.

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The LPMAMA Script for Real Estate & How to Use It https://theclose.com/lpmama/ https://theclose.com/lpmama/#comments Tue, 23 Apr 2024 11:19:45 +0000 https://theclose.com/?p=56733 The LPMAMA framework builds trust and rapport, educates buyers, and shows off your expertise—quickly and efficiently. 

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If you’re struggling to convert buyer leads, only six letters separate you from your dreams: LPMAMA. This simple but powerful framework is at the very heart of what real estate agents do. A strong LPMAMA script builds trust and rapport, qualifies buyer leads, educates buyers, and creates a strong foundation for the buyer-agent relationship. So, let’s demystify LPMAMA and walk through the exact strategies and scripts agents use to convert more buyer leads.

LPMAMA Script for Real Estate

What Is LPMAMA? 

LPMAMA is a sales framework for real estate buyer’s agents that provides a structured approach to building rapport and converting leads into clients. It uses questions to uncover important information about the buyers and allow them to share their stories with the agent. This inquiry process simultaneously helps agents qualify the leads and learn how to help them most effectively. Think of it as the foundation of a trusting relationship.

Each letter of LPMAMA stands for a pillar in the conversation: 

L – Location

P – Price

M – Motivation

A – Agent

M – Mortgage

A – Appointment

The 6 LPMAMA Questions & Scripts

With a complete understanding of the LPMAMA meaning, it’s time to learn how to use the framework. Let’s dig into each part of the acronym, paying close attention to the goals of each section. We’ve included sample LPMAMA scripts with phrases and questions but download our free example conversation for an even better understanding of how to develop your strategy.

Location

As we say in real estate, “location, location, location.” Location is one of the most critical factors in any home search, which is why it’s the first letter of the LPMAMA real estate framework. Ask questions to encourage clients to express their ideal location, desires, and concerns. This inquiry helps you gather information to find them a property and builds rapport.

Goals:

  • Learn where your buyers want to live and (even more importantly) why they want to live there
  • Determine how educated your buyers are about different neighborhoods
  • Discover where your buyers don’t want to live and why
  • Decide if they are willing to consider other areas

Price

After asking about the location, you should ask about the price. This type of inquiry can be challenging since money can be a sensitive topic. However, if you have the right mindset and use a strategic LPMAMA script, the price discussion can help you build trust and rapport with leads.

For example, don’t start by asking sensitive questions about their personal finances. Approach the topic with curiosity and compassion. Ask about their budget and encourage them to know that they have options within their chosen price range.

Goals: 

  • Discover how much they are willing to spend on a home 
  • Help them come up with a price range that will give them plenty of options
  • See if they have wiggle room in the budget
  • Ascertain whether their budget aligns with the home they’re looking for

Motivation

The “motivation” piece of the LPMAMA framework is particularly important for real estate agents but can be more complicated than it seems. Understanding a buyer’s motivation for moving or looking for a specific type of property can help you find options they might not expect, thus providing exceptional service. However, sometimes buyers don’t even realize their own motivations, so it might require some creativity.

Keep in mind that not everyone is moving for a positive reason; they might be trading down after a job loss or personal tragedy. Try to avoid blunt personal questions like “Why are you moving?” which may make someone uncomfortable. If you aren’t getting clear answers, try to dig deeper by saying, “Tell me more about that.”

Goals: 

  • Learn the specific reasons why the buyer wants or needs to move
  • Discover why the buyer wants to live in a particular area or is interested in a specific type of property 
  • Determine the buyer’s highest priorities
  • Understand how you can help them

Pro tip: Consider using this mindset and sample questions for other real estate leads. See examples of sensitive conversations in our expired listing scripts guide and our scripts for FSBO leads.

Agent

The “agent” stage of LPMAMA helps you discover if potential buyers are already working with another agent. This question ensures you don’t spend time nurturing leads who have already signed a contract with someone else. Asking questions about agents they have worked with helps set you up for success. When you understand precisely how your clients want to be supported, you can provide the best service for them.

Goals: 

  • Determine if the buyer has signed a contract with another agent
  • Learn about the buyer’s history with other agents, positive and negative experiences
  • Understand what the buyers want from you

Mortgage

In the mortgage stage, you’ll find out how financially prepared the buyer is to purchase a home. Like the “price” section, you must consider your language when discussing money carefully. However, out of all the stages, this one offers the best opportunity to show off your knowledge and help the buyer solve a problem. Don’t treat this stage as a hard sell but consider it a way to educate the buyer.

Goals: 

  • Learn about the buyer’s financial preparedness to purchase a home 
  • Determine how serious the buyer is about making a purchase
  • See if the buyer has already met with a mortgage broker
  • Demonstrate your expertise in financing a home purchase

Appointment

The last stage of LPMAMA is to summarize what the buyer has told you quickly, reiterate how you can help them, and then make concrete plans to take the next step in the process: an appointment. If you’re using LPMAMA over the phone or within cold calling scripts, the next step is most likely an in-person meeting. If your conversation went particularly well or if the buyer appears ready to move more quickly, you can set up appointments to visit a few homes.

Unlike a few of the other LPMAMA questions, the goal of this stage is to make concrete plans. Instead of listening objectively and relying on empathy, this step requires more assertiveness to convert the lead into a client. Ensure you are prepared to handle real estate objections during this stage to increase your success rate.

Goals: 

  • Demonstrate that you were listening carefully to their story and empathized with their problems
  • Provide clear next steps for the buyer
  • Confirm their needs, wants, and expectations
  • Schedule your next meeting

Why Is LPMAMA Important for Buyer’s Agents?

Even agents who don’t have a specific LPMAMA script or strategy tend to use some version of it in their first interactions with potential buyer clients. They often use a buyer questionnaire that contains the building blocks of LPMAMA without even realizing it.

The bottom line is that LPMAMA is one of the best ways to uncover a buyer’s true motivations and build rapport quickly. It provides an organized, thorough, and simple way to increase your lead conversions with home buyers.

When to Use LPMAMA

When the LPMAMA questions are used at the right time, they can be a potent tool for agents to convert potential buyers into loyal and repeat clients. Ideally, you’ll follow an LPMAMA script during your first one or two interactions with potential buyers. If you do buyer presentations with new leads regularly, LPMAMA should guide the process. However, the framework can and should be used to build rapport in various environments and interactions.

A few ideal times to use the LPMAMA framework include: 

  • During open houses
  • During follow-up calls or visits
  • After a website inquiry on a property
  • During cold calls or door knocking sessions
  • Automated real estate text message scripts
  • Within email templates for online leads
  • During networking events

Mindset for Using the LPMAMA Real Estate Script

One of the most important parts of successfully using the LPMAMA real estate framework is mindset. Since it is meant to be used at the beginning of an agent-buyer relationship, some agents mistakenly view it as an opportunity to show off their expertise. However, LPMAMA is ultimately about the buyer, not the agent. The questions should be used to uncover information about the buyer, which benefits the agent for a few key reasons: 

  • Builds rapport: Asking good questions makes it easy for buyers to open up and share the details of their home search. When they feel understood and valued, they automatically trust the agent more.
  • Qualifies buyers: Asking specific questions about their preparedness to purchase a home will expose buyers who aren’t ready to make an offer. This inquiry can save you months of wasted time and energy and allow you to focus on buyers prepared to purchase.
  • Sets expectations: Communicating the buyers’ wants and needs clearly in the beginning will show you exactly how to best help each client. Clarifying expectations will set you up for a successful homebuying journey and relationship.

As you go through the LPMAMA steps, make sure your mindset is one of curiosity, problem-solving, and empathy. Approach the steps like a detective or therapist, allowing the buyers to give you their point of view without interjecting. This small but important mindset shift will help you use the LPMAMA framework most successfully.

Bringing It All Together

LPMAMA is an essential framework for real estate agents who want to work with homebuyers. It provides a strong but simple strategy for building rapport with buyer leads and setting their relationship up for success. These LPMAMA scripts and tips will increase your chances of converting leads into clients.

The post The LPMAMA Script for Real Estate & How to Use It appeared first on The Close.

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zBuyer Real Estate Review: Pricing, Features, Pros & Cons https://theclose.com/zbuyer-review/ https://theclose.com/zbuyer-review/#respond Wed, 17 Apr 2024 12:13:48 +0000 https://theclose.com/?p=65516 Lead generation is one of the biggest and most important parts of being a real estate agent.

The post zBuyer Real Estate Review: Pricing, Features, Pros & Cons appeared first on The Close.

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Lead generation is one of the biggest and most important parts of being a real estate agent. Put simply, you don’t have a business if you don’t have leads. Enter zBuyer, a way for you to increase your leads in an ever-changing industry. This platform provides high-quality homebuyer and seller leads through its turnkey marketing platform, connecting you with potential clients in real time. I answer, “What is zBuyer?” and break down all this platform has to offer, including zBuyer reviews from real customers, the pricing structure, features, and what sets it apart, to help you determine whether or not you will add zBuyer to your business-building arsenal.

zBuyer
Pros
  • No contract—agents can jump in and out based on need
  • Transparency in lead sharing
  • Lead count guarantee
  • Lead replacement policy
  • Built-in lead capture tools
  • Email and SMS marketing
  • zBuyer Mastermind group: Learn and share best practices with other realtors
Cons
  • $400 per month minimum
  • Leads are not exclusive (shared with a max of six members across a county)
  • No concierge program
  • No CRM included
  • No in-house analytics to track lead conversion success
  • Nurturing and conversion takes time
The Close Score
4
Pricing:
2.3
General Features:
3.9
Advanced Features:
3.6
Customer Service:
4.1
Customer Rating:
3.2
Expert Score:
4.0
out
of
5

My Verdict on zBuyer & Should You Trust It 

Let’s face it: Finding the right lead gen platform can feel like a large undertaking. And as we all know, we need multiple lead sources to develop a robust pipeline. That’s why, as a real estate agent, I understand that investing in and learning how to use a new platform can get thrown on the back burner. But don’t worry, I’ve got your back, and I’m happy to report that after thorough research, I feel there are some unique features zBuyer offers that could work for your lead gen efforts. 

I’ve found that this platform would integrate well into a seasoned agent’s business ready to scale. These agents are familiar with working leads and understand the process and importance of nurture and follow-up. Brokerages and teams looking to give out leads to their agents would also find use in zBuyer’s model. Since zBuyer guarantees its lead count each month, brokerages and teams can also use this as a recruiting tool.

zBuyer gathers leads looking for a cash offer, so this could be an excellent opportunity for investor agents to grow their portfolios. Suppose agents do not operate as investors or do not have access to cash buyers. In that case, there is a platform that zBuyer can put the agent in touch with to connect with investors, allowing agents to have a unique offering to potential clients.

a screenshot from the zBuyer member resource center page showing a welcome message and zBuyer mastermind group access.
zBuyer member resource center (Source: zBuyer)

Due to the nature of this platform and the fact that it requires an agent to understand how to convert leads, newly licensed agents may not find it suitable. That said, if a new agent has a sales background and has previously worked with leads or is simply willing to learn, this platform could also work for them. zBuyer sets its members up for success by providing everything needed to get up and running within the first 30 days. Their resource center is full of proven scripts, customer relationship management (CRM) blueprints, drip campaigns, and more to help shorten the learning curve. 

The beauty of this platform is that there are no contracts. Agents can enjoy a month-to-month membership with the flexibility of “turning on and off” as they see fit for their business. Additional features, such as their transparency in lead sharing and the lead replacement policy, can help agents feel confident in their investment. 

zBuyer Alternatives

Since real estate agents operate independently and essentially as their own businesses, what works for one agent may not work for another. If you feel zBuyer may not be the right fit for your business, I’ve put together a few other options that may make more sense for you. Take a look!

Platform
Why It’s a Great Alternative
Learn More
Ready to
Purchase?
zurple logo.Intuitive CRM and lead system offering exclusive leads and auto-conversations Zurple Review
Visit Zurple
cinc-logoPaid search and social to capture leads, along with highly praised training and supportCINC Review
Visit CINC
Zillow premier agent logoAutomated digital advertising, gains you a high level of traffic and exposureZillow Premier Agent Review
Visit Zillow Premier Agent
Platform
Why It’s a Great Alternative
Learn More
Ready to
Purchase?
zurple logo.Intuitive CRM and lead system offering exclusive leads and auto-conversations Zurple Review
Visit Zurple
cinc-logoPaid search and social to capture leads, along with highly praised training and supportCINC Review
Visit CINC
Zillow premier agent logoAutomated digital advertising, gains you a high level of traffic and exposureZillow Premier Agent Review
Visit Zillow Premier Agent

Key Features of zBuyer

zBuyer is a fairly simple platform, making it easy to navigate. Their in-depth training and support also take the burden off learning to use a new tool. Once up and running, this platform operates as a lead magnet in your hand, with the app pushing real-time leads for you to connect with, even while you’re out in the field. Despite not having a built-in CRM to nurture the database you build, they do offer integrations with most CRM platforms. 

Watch the demo video below to learn more about the leads and internal features of the platform.

zBuyer Demo with Jordan Weber

Real-time Leads

As soon as the platform captures a lead, it is sent to you in real time through the mobile app, your CRM, and your email. You will also get access to lead-sharing data to learn the average number of members with whom the platform shared the lead in your area. Your membership is based on county, not ZIP code or city, so while it is a larger geographical area, there is still a cap on the distribution of leads. Leads are shared with a maximum of six agents, and once a county hits full distribution level, it is marked as sold out.

a screenshot showing area statistics for a lead.
zBuyer lead-sharing data (Source: zBuyer)

Transparent Process 

With a high focus on transparency, you can rest assured that the leads you’re receiving are aware that you will be contacting them. Customers answer questions and elect to be contacted before they are put into distribution, so you never have to worry about reaching out to a lead without their consent. This extra scrutiny automatically creates a warm lead for you to work with!

a person holding a cell phone with the screen showing the option to be contacted by an agent.
Client contact confirmation (Source: zBuyer)

Lead Count Guarantee  

When you sign up as a member with zBuyer, you can choose the number and type of leads you want to receive monthly. Let’s say you want to receive 37 buyer and 50 seller leads. zBuyer guarantees that you will receive those amounts for each category every month until you choose to make changes. If you do not hit the numbers you chose, zBuyer will send you additional leads until you hit your number; otherwise, they will make a price adjustment for the following month.

a screenshot from a zBuyer agent's captured leads page showing a list of leads with additional details.
Lead pipeline example (Source: zBuyer)

Lead Replacement 

One of the risks you take when investing in any lead generation platform is receiving low-quality leads. Whether that means the lead has a wrong number associated with it, connecting with a seller who has their home listed, or finding out a buyer is already working with an agent, it’s bound to happen at some point. With zBuyer’s lead replacement policy, you will receive a new lead for every bad lead to ensure you hit the number of valid leads purchased monthly. This feature creates an extra layer of security when receiving quality leads.

a screenshot of a seller lead email with contact details and additional home information.
Qualified lead sample (Source: zBuyer)

Resource Center & Mastermind Group

zBuyer has curated a resource center to give you the tools you need to convert and see results with leads. It includes scripts, training videos, and follow-up best practices, for example. 

Additionally, the Mastermind Group allows you to learn from and share best practices with thousands of other agents using zBuyer across the country. You’ll engage with high producers who have a consistent success rate of converting leads to closings. You will have access to webinars and participate in live calls to hone your craft. Connecting with like-minded agents is a recipe for success in my book!

Resource center seller scripts (Source: zBuyer)

No Contract

zBuyer has a month-to-month membership, and you are not required to sign any long-term contracts, which gives you control over your business spending. If you want to ramp up during a specific time of year and push the pause button at another, you’re free to do so. While you should give any lead gen process ample time to determine whether or not you want to stick with it, you can leave this platform after your first 30 days if you choose.  

zBuyer Pricing

I’m sure by now you’re wondering what it costs to incorporate a lead gen platform like zBuyer into your business. As noted above, a subscription fee must be paid at a set monthly minimum. However, you can purchase any combination of buyer and seller leads, as many as you want, as long as your lead count meets the minimum subscription fee. 

When you become a member, you will also receive a prospecting database with leads that can be anywhere from 30 days to 24 months old for free. These leads were either underserviced, undersold, or simply fell off. You have free rein to add them to your outreach efforts and real estate drip campaigns and will continue receiving them every month that you’re a member. 

Let’s look closer at the pricing details when you sign up with zBuyer. 

  • $400/month, required set minimum 
  • $12 per lead to secure buyer leads
  • $15-$17 per lead to secure seller leads (price range is based on county and availability)
  • No contract, and no setup fees 
  • Dedicated customer service representative
  • Free bonus: prospecting database with old leads

If spending $400 per month to buy real estate leads does not work for your budget, but you’re considering saving up for a lead gen platform, this could be a good option. You are not locked into a contract and have a lead count guarantee. The lead replacement policy and access to a database of old leads also ensure that your expense comes with a complete list of leads to work with every month.

Purchasing leads examples (Source: zBuyer Demo)

Methodology

We are lucky to have so many amazing tools at our disposal to help operate and grow our businesses in the industry today. However, as I mentioned earlier, different tools work for different real estate agents. As a licensed real estate agent, giving an unbiased zBuyer review would be impossible because I have my favorite software and platforms that have worked for my business. That’s why I use a rubric designed by our team to evaluate each lead gen platform, including zBuyer. 

Here’s a breakdown of the scores for zBuyer in more detail. 

  • Pricing: 2.3 out of 5

Since zBuyer does not have exclusive leads and the platform is a bit pricier for its monthly membership rate, it loses some points. It helps that agents have control over their spending, coming and going as they see fit for their businesses, but overall, the monthly rate can still be steep for some. That said, zBuyer gains some points for their price per lead and not locking agents into contracts. 

  • General Features: 3.9 out of 5

With solid features like real-time leads and a mobile app, agents can connect with leads at lightning speed. Not having a built-in CRM hurts their score, but integrations with most third-party CRMs help add some points. Their mass marketing tools and training resources are also among the features that bring the score up. 

  • Advanced Features: 3.6 out of 5

The thorough process of vetting a lead to capture and distribute high-quality leads to members is a feature that sets zBuyer apart from other companies. Access to leads in their search’s early stages helps set up agents for success. Couple that with the extensive resources zBuyer supplies to help agents nurture and convert leads and you have a winning combo. 

  • Customer Service: 4.1 out of 5

zBuyer offers a unique feature that allows every member to get a dedicated customer service representative. This rep is an agent’s go-to person to set up one-on-one meetings, practice scripts, and ask questions. Having this dedicated phone and email support really boosts zBuyer’s score. 

  • Customer Rating: 3.2 out of 5

zBuyer may not be the most popular platform, but agents who use it seem to enjoy it and utilize the resources provided to maximize their membership. Out of the reviews I found online, there were far more positive than negative experiences. Agents who are comfortable nurturing leads are among the positive reviews that helped boost this score. 

Read more about the specific methodology used at The Close to review companies.

FAQs




Bottom Line: Is zBuyer Worth Your Money? 

zBuyer’s real-time leads and transparency with customers and agents, along with their lead replacement and lead count guarantee, give agents some peace of mind when investing in a new platform. Agents can build their database and control their spending, making this an option that could be a great business-building tool. Sharing leads with up to six other agents in your area is not ideal. However, zBuyer’s training and Mastermind Group offer ways to learn how to win and convert each lead that comes your way. Ultimately, investing in a platform like zBuyer is like investing in a new teammate who could help enhance your business. 

Have you used zBuyer to generate leads for your business? If so, let us know about the platform! Do you like it or not like it, and why? Leave us a comment below!

The post zBuyer Real Estate Review: Pricing, Features, Pros & Cons appeared first on The Close.

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https://theclose.com/zbuyer-review/feed/ 0 zBuyer Screenshot 2024-04-09 at 5.11.41 PM zurple_logo CINCPRO_logo Zillow premier agent logo zurple_logo CINCPRO_logo Zillow premier agent logo Screenshot 2024-04-09 at 6.38.28 PM Screenshot 2024-04-15 at 9.46.20 AM Screenshot 2024-04-15 at 2.07.08 PM Screenshot_zBuyer_Sample_seller_lead_details Screenshot 2024-04-15 at 9.48.28 AM Screenshot 2024-04-08 at 6.12.45 PM expand/collapse expand/collapse expand/collapse
Is Zillow Flex Worth the 35% Referral Fee? https://theclose.com/zillow-flex/ https://theclose.com/zillow-flex/#comments Fri, 22 Sep 2023 21:00:31 +0000 https://theclose.com/?p=14473 Having access to Zillow-generated leads at no upfront cost sounds great, right? In our examination of Zillow Flex, we explore its pros and cons and see if paying Zillow up to 40% of your commission is worth the leads.

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Zillow Flex is a lead generation option for Zillow Premier Agents that allows them to receive Zillow leads without paying any upfront cost. Real estate pros who use it only pay Zillow after a transaction successfully closes. However, participating agents report Zillow Flex costing anywhere from 25% to 40% of the gross commission. 

So is it worth it? Zillow Flex is not the first program to offer this referral-style lead generation option, but the major difference is that Zillow has unrivaled home search traffic and consumer adoption. In this article, we’re going to examine Zillow Flex, explore its pros and cons compared to Zillow Premier Agent, and see if paying Zillow up to 40% of your commission is worth the leads.

What Is Zillow Flex?

Zillow Flex is an invitation-only, pay-at-closing lead source exclusively for Zillow Premier agents. The percentage of commission Zillow Flex agents pay if and when the lead closes on a property ranges from 15% to 40%, depending on both the transaction price and your market. Zillow reserves the right to change the percentage at any time. You can view the pricing for specific markets on Zillow’s state-by-state Flex pricing page.

Zillow Flex vs Zillow Premier Agent

Zillow FlexZillow Premier Agent
AvailabilityMultiple markets across the countryEverywhere except Atlanta and Phoenix—Flex is the only option in these markets
Upfront CostNothing$300-$1,000 per month* for a typical user
Final Cost15%-40% of commissionNothing additional
Who Can ParticipateInvitation only for Zillow Premier AgentsAnyone

*Costs associated with Zillow Premier Agent are approximate. To learn more, read our review of Zillow Premier Agent.

Zillow Flex Pros & Cons

ProsCons
  • No upfront costs
  • Each lead is incredibly expensive if it closes
  • Virtually no risk
  • You’re held to strict performance standards like how often you answer your phone and secure an appointment.
  • Scalable at broker level
  • Consolidation of Zillow Group in the marketplace
  • Minimum one-year contract

The Case for Using Zillow Flex 

Zillow Flex might be exactly the lead generation technique you and your business have been waiting for. Here are three reasons why you should consider using it.

1. Leads With No Upfront Cost

Success as a real estate agent can be a bit of a chicken-or-egg scenario: It’s hard to get leads with no budget, but it’s hard to have a budget if you don’t first have leads to turn into closed sales. Zillow Flex solves this problem by allowing agents to pay after a lead has turned into a sale.

Sure, you’re going to make less on each closed sale, but some is better than none, and if you’re new to the biz, the experience is nearly as valuable as a commission check.

2. If You’ve Got a Big Profit Margin, This Is a Nearly No-risk Option

If you’ve got a strong system in place that yields high profit margins but just not enough leads to fill your time, Zillow Flex is a great option.

This is especially true for agents leading a team. Maybe you’ve got buyer agents without enough clients to keep them busy. These agents would probably rather work for a little less profit than sit in the office not working at all. Zillow Flex allows you to capture leads that you can use to fill out your team’s calendar without having to invest extra team resources to get them.

3. A Viable, Scalable, Brokerage Lead Generation Model

If you’re a broker looking to provide extra value to the agents in your brokerage, being a part of the Zillow Flex program could be just the ticket. 

By buying into Zillow Flex at the brokerage level, you could absorb half of the Zillow Flex referral cost, then ask the agent to cover the rest. Once an agent hits their cap, you can pass along the entire lead cost. This model would allow you to scale more agents toward hitting their cap goals and supporting the overall health of the business as well as the success of the real estate agents in your firm.

The Case Against Using Zillow Flex

It’s true: Zillow Flex isn’t the best option for everyone. Here are three reasons why this program might not be ideal for your business or even the industry at large.

1. These Leads Are Expensive

As paid lead generation goes, these rank as some of the priciest. The cost-per-lead formula that you use on other platforms can’t be applied here because you’re actually not paying for leads—you’re paying for closings

Here’s an example of what I mean: If you’re a standard Zillow Premier Agent, you’re paying for leads upfront through a monthly package. Let’s say the following conditions are true:

  • Your monthly spend with Zillow is $4,000, and that nets you 20 leads a month
  • The typical sale price for a home in your market is $300,000
  • The typical commission you get for selling a home is 3%
  • Your typical closing rate for Zillow Premier Agent Leads is 5% (one out of every 20 leads converts within 90 days of reaching out)
  • Your typical nurture rate for Zillow Premier Agent Leads is 10% (two out of every 20 leads converts within one year)

If all of this were true, you’d be paying $200 per lead. If you’re closing one out of every 20 leads presented within 90 days, your cost per closing is $4,000. Given a typical commission of $9,000 ($300,000 x 3%), your cost per closing with Zillow Premier Agent is 44% of each commission.

But, when you factor in the nurture leads that will close within a year, your cost per closing drops to $1,333, or 14.81% of each commission. Plus, you still have the other 17 leads you’ve collected over that time period to keep in your database, continue to nurture, and possibly convert into clients down the road.

Zillow Flex Pricing

Remember, this program is only available for Zillow Premier Agents who are already paying Zillow hundreds (if not thousands) per month. But keep in mind that when you’re using Zillow Flex, you don’t get any of the back-end benefits of the leads you receive. You get a single lead, and if it closes, you pay on it. Your future benefit of Zillow Premier Agent using Zillow Flex is then limited to the possible repeat business from the lead Zillow provided, as well as any referrals they could send your way. 

The Zillow Flex fee ranges from 15% to 40%. Using the scenario described above, that means that you’re paying anywhere from $1,350 to $3,600 for each typical closed deal. The math is pretty clear here: Zillow Flex leads are significantly more expensive than traditional Zillow Premier Agent leads. Yes, the risk is lower since you’re not paying for them unless they close, but with lower risk comes a substantially lower reward. And there are plenty of competitors in the space if you’re looking to buy real estate leads.

2. Flex Consolidates Zillow’s Control Over the Industry

The real estate industry is already wary of the influence a single company has over the livelihood of more than 2 million active real estate agents. Zillow Group already owns ShowingTime and Dotloop. Also, Zillow Home Loans has been gaining traction. Zillow Flex is yet another way to tie agents into the Zillow ecosystem—one which has become increasingly difficult to avoid. 

Becoming a Flex agent locks you in perhaps even further than Premier Agent. With Zillow Flex, you’re locked in a contract for a minimum of one year. Zillow also has strict performance standards for agents to meet, such as sending a quarter of your interested clients over to Zillow Home Loans, and verifying that you directly ask your clients for an appointment. This is done with natural language processing call listening technology.  

With the incredible market share advantage Zillow has in terms of consumer web traffic, the idea of the company becoming a full-fledged broker is concerning. It could give them an even more powerful position in markets across the country, making competition very difficult.

3. Zillow Flex Could Shrink Real Estate-supported Industries

With a lower profit margin on sales, Zillow Flex agents will have less discretionary income to spend on products and services they use to support their work. When agents have less to spend on things like marketing, you can expect to see a decrease in professional photographer contracts, less frequent professional staging, and so on.

For the photographers, videographers, drone pilots, stagers, and other professionals who depend on real estate agents as clients, this could be bad news.

So, Is Zillow Flex Worth the Hefty Referral Fee?

Given all we’ve learned about Zillow Flex, the feedback we’ve gotten from agents who’ve used the program, and the implications of transitioning to Zillow’s referral-based fee model, Zillow Flex isn’t worth the sizable referral fee for most agents. In fact, I’ll go as far as saying that Zillow Flex isn’t a net positive for the real estate industry as a whole. 

That’s not to say that there is no application for their program. There are certainly real estate professionals out there whose pool of resources necessitates a lead source with low or no upfront costs. Also, there may be instances when established agents, teams, and brokers will look to Zillow Flex as a means of expanding with little risk to their underlying business. 

At this point, Zillow isn’t going away—after all, consumers love being able to virtually snoop out potential homes without an agent. Zillow has refocused its efforts after losing $881 million in 2021 on their iBuying venture. It’s now positioning itself as a “housing super app.” We can expect to see Zillow and its tools continue to become integrated with agents across the country. 

If you’re a real estate pro who is already on Zillow Premier Agent and gets invited to be part of Zillow Flex, it may be a way to beef up your business. However, for the majority of agents, in the long run, I believe Zillow Flex isn’t the best choice for building a scalable, long-lasting real estate business.

Alternatives to Zillow Flex

If you’re not already a Zillow Premier Agent or don’t want to fork over your commission to Zillow, check out our top three alternatives for pay-at-closing leads:

Rocket Homes

logo of pay-at-closing lead company, Rocket Homes
  • Best for: Agents seeking prequalified buyers with high conversion rate
  • Referral fee: 1% of estimated home value or 25%
  • Qualifications: 24 months of experience, minimum eight closed transactions in last 12 months

Rocket Homes is an offshoot of Rocket Mortgage. This program matches prequalified buyers with agents in their area. Because these leads have expressed interest in financing, they are considerably more likely to convert quickly and easily. 

Pro: High-value, prequalified leads and a transparent dashboard 

Con: Need to maintain a 4.5 rating in their system and work the leads you’re provided quickly and consistently 

Learn More About Rocket Homes

UpNest

  • Best for: Tech-savvy agents with experience
  • Referral fee: $3,000 (if sales price is less than $350,000) or 1.5% of sales price
  • Qualifications: Three years of experience, six transactions in 12 months, & tech-savviness

UpNest is going to be more of a partnership than our other alternatives. Along with high-converting leads generated via consumer-focused marketing, the company offers robust tools and resources to help you bring prospects to the closing table. Like Zillow Flex, you’ll need to keep UpNest posted on the leads you’ve been sent. However, the flat fee could be more or less than Zillow Flex, depending on your market.

Pro: Great resources, dashboard, and mobile app for agents 

Con: Three to five agents compete for each lead based on commission rate and reviews

Check out UpNest

Agent Pronto

  • Best for: Agents looking for flexible referral leads
  • Referral fee: 25-35% of commission depending on your market
  • Qualifications: Undisclosed; the sign-up process is quick but onboarding depends on how many agents are already in your area

If you’re looking to get started working with pay-at-closing leads but don’t have the qualifications to start elsewhere, this is the one I’d recommend. Similar to UpNest, Agent Pronto leads aren’t exclusive, because leads get sent a few agents to choose from. Because of this, you have less ability to convert these leads. However, your referral fee will most likely be less than Zillow Flex. 

Pro: Easy sign-up and lower referral fees than others on this list

Con: Leads aren’t exclusive

Visit Agent Pronto

Sold.com

sold.com logo
  • Best for: Agents seeking seller-based referral leads
  • Referral fee: 30%–35% of commission (0% if paid by sponsor)
  • Qualifications: No minimum criteria

Sold.com is free to join and the sign-up process for agents is quick. You can purchase additional placement on Sold.com with the Guaranteed Display program, which is a nice perk. Like most referral programs, Sold.com matches clients with the best real estate professional for their situation. Performance is rewarded, so the more leads you work and closings you get, the more referrals come your way.

Pro: Guaranteed Display is a great way to get referral leads out of this program.

Con: Clients matched with you may be a long time out from converting.

Visit Sold.com


Bringing It All Together 

What do you think about Zillow Flex? Are you excited about this option coming to your market, or is this a big no-go for you? Tell us about your thoughts and experiences in the comment section below!

The post Is Zillow Flex Worth the 35% Referral Fee? appeared first on The Close.

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