I have heard a lot of talk on youtube.com about purchasing leads from ListSource.com, I am curious what experiences any of you here have had?
I just spent a small amount of time poking around their site and was concerned that all though they have monthly vs. per lead pricing that they don't disclose the actual dollar amount until after you have invested your time in signing up, building the list you want, etc. The real kicker being that you need to choose either monthly or per lead pricing prior to saving any lists you have built.
So how to decide which is the most economical way to start off....
It's no secret I AM brand new.... Truth being, my start up funds are limited to say the least. I do understand that marketing will cost money, That I'm not going to build wealth for free. But, that being said, I am looking to keep costs at a bare minimum until I have a system in place that deals are funneling in and I can justify multiple recurring monthly expenses, as even small "membership" fees to many services will add up so quickly as to put me out of the game before I even get a chance to "play".
Any advice is welcomed, and if anyone in the Massachusetts area has had experience with Listsource, I would love to know if they feel that it was a positive experience.
I use Listsource and it's great. It takes about 5 minutes to build a targeted list and they have the price after you customize it. You do have to spend a minimum of $50 per purchase. If you're concerned with expenses adding up, your best bet might be driving for dollars, looking for vacant properties.
Generally if you are new and not sure what you are doing you won't want the monthly subscription pricing. Easier to just pay the slightly higher price per lead. Then in the future if you find that you are growing and getting new lists every month/week then you can upgrade. At this time more than likely you will buy one list and then use that for a number of months.
They are not the best at customer service, but then they are one of the bigger players and don't really need to be.
@Jenny Pena When you create an account, you have the ability to save lists. So if you make a list and don't feel like you want to spend the money right now, you can always go back to the list at a later time.
Thank you all so much for your responses. I will definitely me utilizing the driving for $ model as well, I am looking to create multiple streams of lead generation.... Gotta fill that funnel, right?!
And Thank you again @Justin Silverio , between your blog, fast response, and being so local, you are a great resource.
I just got done building a list, and I can tell you the costs are high for a drilled down list, one I built ended with only 607 address will cost a $400+. So plan to pay about $0.67 per address.
My list was based on Zip+area 25 miles, Property type SFR, absentee owner, Property value $0-$200k, equity 40-50%.
So it does give you great detail, but it comes at a price. On the flipside, I have not found any other list providers that get this detailed for the price, and I think you can buy partial lists of your selection.
My concern is ROI. Just starting out, very limited funds, etc LOL if this is a good way to go when from the posts I have read your looking at a ratio of 1 real lead generation per 1000 address.
Can anyone throw some thoughts on this?
Ouch!! If that is the ratio, then I'll probably be sticking to some more "grass-root" approaches until I have a more reliable funnel. I'm not opposed to spending money on lead generation, an I know I will be beating the pavement hardcore until I can delegate (aka: pay for) work to get done, but I'd rather be the Tortoise not the Hare!
Thanks for the heads up @Justin Silverio
@William Baumann not sure why your equity percentage is so narrow. You have to know that the number is not exact. If you drop the equity screening tool you price for the list goes down significantly. I dropped the equity item and didn't see too much of an impact in the response or quality of leads.
Once you sign up for it you can tweak the criteria to figure out what is most cost effective.
Bill S., i was just giving an example of a list that would be as drilled down as you would most likely go.
Hey @Jenny Pena , I'm out of Haverhill/Lawrence and I have used List source before and would recommend using it. Yes it can be costly, depending on how you setup your lists but if you plan on mailing to them multiple times (which you should) its well worth the price. When I first started I found some great tips from others on BP, I figured I would share them for you below,
"Here's a few tips on direct mail:
1) It works through repetition. You may get a few calls off your first mailing. But you'll get more responses after the 3rd to 5th contact with a consumer/homeowner. Direct mail establishes awareness and trust over time, which results in action (calls).
2) The right # depends on the # of people in your target audience (homeowners who meet your criteria). There may be 3,000 of those in your area. If your drop 500 pieces, you will be better off to repeatedly mail those original 500 before you mail to rest of the 3,000. See what I mean? Personally, if you have the budget, I recommend direct mail at 2,500 or more addresses in a 3 to 5 mailing campaign over 3 to 6 months.
3) Postcards are cheaper than letters. With the best vendors, you can get 2-sided full-color 8.5x5.5 postcards for about 60 cents (all costs considered - list + card + processing + postage). Letters can run around $1.10. Since it's a numbers game, you can hit almost twice as many addresses with postcards as you can with letters, for the same budget."
@Jenny Pena Personally you should never ever buy any leads. Don't care who they are from. Just think about all the people who've bought that same list. wink wink
There are tons of ways to build your own leads online that is 100% more effective and have a higher ROI. Think about local online marketing!!! It's the best form of marketing in the world.
Here are a few "Real Estate Marketing Posted" I wrote here on BP
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