Purchasing Leads ?
Well I am new here and just finding my way around, I havent seen too much posted about buying leads, one or two and one of them was positive. What do you all think in regard to this? I have been approached by an internet company ( i think we can all agree savy customers are using the net, more than paper now) who have confirmed leads for buyers in my area. leads cost $75 each and each buyer is expected to purchase a home at least 200k and up. I am guaranteed 8 leads per month, so if I even close 2 per month, that would far exceed my expectations. These are all relocations - what is your take on this?
thanks for your responses
colleen
$75 a lead, especially for internet leads, has always seemed a bit high. If you are guaranteed 8 leads per month at $75 a pop I assume you have a marketing budget of at least $600 per month.
[DELETED PART OF POST FOR FORUM RULES VIOLATION[[ Edited by JohnLocke on Date 11/11/2007 ]
Is there anyone finding foreclosure leads by using the County Clerk of Courts websites for their counties?
I am not opposed to buying leads, but I do think that $75 per month or per lead is too high. However, if they are really good quality leads that result in a deal, then it will pay for itself.
I was just wondering if anyone has had experience with using both, and can recommend one or the other, as I just came across a website which provides the Clerk of Courts and County Property Appraisers websites for every county and every state. While it is a bit time consuming, foreclosure leads can be obtained through the Clerk of Courts websites, but there is typically very little information about the property. The property information can be found from the Property Appraisers office. Then you can do your due dilligence to find the property value.
Obviously there is a trade off: pay for leads and possibly save time, or save your money and use more of your time.
ColleenA, correct me if I am wrong, but you are looking for buyer lists, right? The above posts/links are focused on motivated sellers (seller lists.) I occasionally buy tenant prospect lists and get access to their local area database for about $1 per lead. I have not purchased buyer leads... please post if you find a good source.
The property information can be found from the Property Appraisers office. Then you can do your due dilligence to find the property value.
Steve,
In the future, add it to the articles area. Just submit your own synopsis of the article.
We have the url blocking in the forums for abuse in the past.
Bargain,
I see a different picture in the MD suburban market where I am invested.
There is an active sales market but it is concentrated in the REO inventory. Many of the homes being sold need work and that is reflected in the discounted prices that are being accepted by the REO asset managers. The better homes go first, so as the REO inventory ages, the homes needing rehab are selling at even lower prices.
These sales become the statistics and the comparable data that appraisers use for the entire market. As a result, these statistics are distorted by the high percentage of distressed properties that are included in the sales volume. Fewer high end homes are being sold because sellers are waiting out the market and waiting for prices to increase before putting their homes on the market.
In my market, investors are actively buying rental properties in the lower price ranges -- "as-is" properties -- without the restrictive financing that first time buyers might use.