I'm just starting to get into the direct mail campaign and was wondering how much you should spend on an average lead? Any suggestions of places to go to buy lists would also be greatly appreciated, thank you.
@Dalton Osmanski I've used Listsource
List source is very good from national standpoint. There are also state and regional services that are better priced, but only serve in certain areas. Haines is an example. Best thing to do is google for your local suppliers.
If you need more help just PM me directly.
@Peter Vekselman Are these available in every area because I've never heard of any nor does google bring up anything
The e-mail address is: listsource.com
People told you the largest list provider listsource but they didn't tell you about what kinda prices you can get. In general, if you order bigger lists, the costs per lead is lower (like high equity, absentee). You can get around 10-12cents for those. For more specialized lists with more filters, they cost more.
If you're doing your first mailing, your best bet is *not* to buy a list unless you are *not* in a competitive area, got cash to burn, and just wanna get started as quickly as possible. Putting together your own list will get you better response rates, and the chance of other people targeting the same list is lower.
If you want help, feel free to holler. Good luck!
they go by name of core logic......hope that helps.....
When you suggest putting together your own list, how specifically do you go about doing that?
Easiest way is this:
Best response rate though, is going to your local courthouse and putting together a probate list or going to your local assessor's office and putting together a tax delinquent list. The process is city dependent so just call your local office in advance before you show up.
Core logic is the biggest in the world.
But, there are also some local and regional companies that are cheaper and have the exact same data. Best thing is to google for that info.
I've used both RealQuest (CoreLogic) and Data Tree (First American Title). What I really like about them both is that its data direct from County Assessors in a consistent format - so that my letter template never needs to change and I can REALLY quickly use the data to create mailers. Plus, it is extremely fresh. I have found that Data Tree is more robust and that I have more search options. However, if you want only tax delinquencies, @Ray Lai has the best idea. because neither of those companies have that option (though we target all homeowners, not just tax delinquent ones, so its not an issue) Happy to help if you have any questions!
@Dalton Osmanski Listsource is the largest data provider where many REI pull their lists. The cost is generally around 0.10-0.14/lead. However, if you pull from Listsource, you will be competing with a lot of other investors so you should pull a bigger list (min. 1,000/leads). However, if you go the more difficult route and pull by doing a public records requests at town offices or driving for dollars, you can start with a smaller list because you won't be competing with as many people.
Keep in mind DM is a numbers game so having a bigger list will result in a higher likelihood of getting a deal faster. When planning for DM, budget for at least 6 months of mailings to build momentum and to at least get out 5-6 mailers to each prospect.
I hope that helps!
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