Zillow/Trulia/Realtor Cost Per Lead?

Question

I am trying to learn about lead sources for real estate agents. Can anybody provide some insights on what the various RE-specific online lead sources cost in their area?

Aaron K. · Answer

@Richard Davis III totally agree on realtor.com leads, not only are they not worth it, (I paid for a more expensive zip code and more than half the leads were from mobile homes that were less than half the median price for the zip)  They are incredibly stressful, you have to pay attention at all hours of the day and jump on the phone like you're trying to win a competition on the radio.

Heather Greene · Answer

It isn't a pay per lead system on Zillow.  You pay for a percentage of representation on a particular zip code (or multiple zip codes but each needs to be bid on individually).  Zillow has a calculator to figure out how many leads you might get for $X amount of money but in my experience it isn't that accurate (most of the time I got more leads than it indicated I would, but in some zips I got less).  Also if some agent comes in mid-month and bids way more than anyone else that would effect how many leads you get, especially if you were getting 100%+ exposure which means you're always into that 3 pack, and someone bids enough to knock you below 100%.

Carl Ohai · Answer

I am confused.. If they don't fill out some kind of contact form, then how does realtor.com forward their contact info to me?

Wayne Brooks · Answer

@Carl Ohai No....clients don’t fill out a form...you get a notification when someone clicks on house or ask for more info, if they decide (rare) to call you as one of the agents shown on the Osage.

Carl Ohai · Answer

How do Realtor.com work? Leads fill out a form on the Realtor.com site and it's forward to my email? Then me and other agents all bombard the lead and the lead picks who they want to use?

So this would mean they are non-exclusive, but it's capped at 5-agents per lead?

Richard Davis III · Answer

@Aaron K. Exactly.

Richard Davis III · Answer

@Carl Ohai Realtor.com leads vary a lot based on zip code and it's not per lead its per month to be one of five agents to get notified when a lead clicks on the info.

I've done realtor.com leads for years. I hate them. They are a ton of work and the closing ratios average out to about 5% nationally. (I was putting down 10% to 13% closoned for several months but I literally had no life and had ti stop because my family was dissolving over it). I will not be renewing my lead subscription from them.

If you cannot answer your internet leads in under 4 minutes dont buy them. Seriously, these people expect to be contacted IMMEDIATELY. Plus 4 other agents are calling them too.

Overall I would say you really should have the right lifestyle to make these leads worth it. If you are a more hands off/phone is off past 7pm type agent then developing a solid marketing strategy is likely a better use of your funds.

Carl Ohai · Answer

So with Zillow, what do I actually pay for? I pay to show up in that top 3? So theoretically I could place a bid, and still pay $0?

Aaron K. · Answer

@Carl Ohai unless you buy a lot of it the amount of calls you actually get will fluctuate a ton, when they are trying to sell you they give you their estimate but that is something you need to take with a pound of salt.

Carl Ohai · Answer

Well, okay, certainly there is some equation that will tell you the cost per lead for Zillow, right?

Zillow/Trulia/Realtor Cost Per Lead?

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