I have grown insanely skeptical of BP over the last 5 years, yet somehow I am trying the lead generation for both property management and now as a featured agent. First month of leads and I have to laugh at some of these. People listing a budget of 50k, 100k, 200k in NJ (never will happen). I was a Platinum agent in NJ in 2024 so just trying to expand on that with lead flow but I am very skeptical of the lead generation through BP and have been for years frankly. Curious what success people have had with this. I focus heavily on the sell side and on the buy side only work with high net worth individuals so the newbie wanting a 400k multifamily with an FHA loan probably isn't for me.

@Brandon Vukelich thanks that was helpful feedback. I actually took a look at your profile and made some tweaks to mine.

Like you guys, our team has little time to waste! So, we require a nonrefundable Retainer Fee for 90 days of our time to find a rental property. The Retainer Fee is credited towards whatever they buy from us in the 90 days, so in effect, costs them nothing. Note: we're not doing this to make money, but to avoid the time-wasters.

I have tried the BP lead generation over the last year or so with no luck. Like you, I focus on the sell side but decided to try the buy side with BP lead generation. I had lots of leads but none were serious buyers or the leads were from people wanting to sell me other services. I've been a solo broker for well over 20 years and can spot a serious buyer/seller very quickly. These leads were very unresponsive and may pan out over a longer period of time but the time involved is just not worth the effort. I spoke to a few other brokers at the BP conference in Cancun about the same thing and they agreed. Perhaps a better vetting of the buyers on the BP side will enable better quality leads?

Featured Agent Feedback from Agents?Featured Agent Feedback from Agents?

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Brandon Vukelich

Real Estate Broker
Tacoma, WA: 🏢 27 LTRs 🏡 3 STRs

Brandon Vukelich

Real Estate Broker
Tacoma, WA: 🏢 27 LTRs 🏡 3 STRs

Replied January 08, 2025 08:35

I've been a BP Featured Agent for many years, targeting multifamily investors and house-hackers. It has taken some fine-tuning of my profile but for me and my market, the leads have been an incredible source of revenue, especially since 2020. I only pay for BP leads and all other business comes from my sphere/referrals. I'm convinced that making tweaks to my BP profile along with actually being a multifamily investor myself contributes to my lead conversion success. I still get junk leads but that is to be expected on just about every online lead platform. In 2024, I noticed an increase in BP leads that have been high net worth investors reaching out wanting to 1031 into bigger properties. The lead avatar will be different for every market. For me, over 90% work in tech and have $150-500k for an acquisition and...99% of the leads are buyers. I've only had one listing transaction from my BP leads.

Most are complete noobs or have limited REI experience with a rental or two. They take a lot of nurturing, educating and patience. I have a 3-step process I put them through before we actually agree to work together. Most take 6-9 months to find the right asset to buy but occasionally some convert within 90 days. Plus I have many repeat BP leads/clients.

Brandon Vukelich

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