“I feel bad for anyone that Buys Leads”

“I feel bad for anyone that Buys Leads”

 

 

 

Hey Joe,

 

Do you have some time to get together for lunch sometime soon, this time on me? If possible I want to pick your brain again, even though we are both in the same business.

I have to admit, I did not take your advice about buying leads even though you told me not to waste my money. Your advice was to build a referral based business, but nearly $7,000 later, you already know the result. The sad part was that three others in the office buy leads and it is encouraged by our manager.

 

I have had this conversation with many loan officers and Realtors. Most of the time someone that is invested into buying leads will ignore the advice as it takes time to build a “Referral Based Business”.

 

My curiosity got the best of me a number of years ago. A leads company contacted me to buy “sure thing” leads from them. I made a deal with them, you send me 25 leads “for free” and I will contact each of them, if I do one mortgage out of the bunch then I will buy some leads.

 

You already know the result. They were a waste of my time and they would have been a waste of my money.

 

From time to time I interact with someone that has success buying leads, more power to them but it is not for me. How about you?

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 9 commentsJoe Petrowsky • September 05 2017 03:46PM

Comments

Hi Joe - I guess everyone has to try it once and learn the hard way.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 28 days ago

Yes, as Grant mentioned, he had to learn the hard way. But now he's ready to listen to your tips!

Posted by Kat Palmiotti, The House Kat (Grand Lux Realty, 914-419-0270, kat@thehousekat.com) 28 days ago

Good morning, Joe Petrowsky I have NEVER spent a dime on buying leads.... I see it happen all the time.... those who buy leads want the quick fix....they know it take time and effort to learn how to market properly.... they keep hoping the leads will come...

Posted by Barbara Todaro, "Franklin MA Homes" (RE/MAX Executive Realty ) 28 days ago

Good morning Joe. Buying leads is like lighting $50 bills in a can to keep warm. A waste of resources. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker (Wayne M Martin) 28 days ago

We tried it once and had the same results. It's better to put the time and effort into networking with people face-to-face.

Posted by Nathan Gesner, Broker / Property Manager (American West Realty & Management) 28 days ago

There is no better source for new business than referrals and too many new agents fail to understand that fact.

Posted by Sandy Padula and Norm Padula, JD, GRI NMLS#1483386, Presence, Persistence & Perseverance (Realty One Group) 28 days ago

AS little success as agents have in buying leads and how much they spend you would think that they would have caught on by now!!!

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) 28 days ago

I've purchased leads and have been successful with them, Joe, but prefer to generate my own.  It's much more cost effective.  It cost me about $160.00 a month to keep CastaDelSolRealEstate.com at the top of page 1 of google with paid-per-click, and last week Valorie closed her 5th escrow from the website.  And this past week she wrote two offers.  I'm thinking she'll close 8 escrows this year, and it only cost $1,920.00 in marketing expenses.  I feel most Agents would benefit from doing hyperlocal marketing ... the ROI is well worth the efforts.

Posted by Raymond Denton (Resolute Federal Savings Bank) 28 days ago

The world will always be full of the next great thing but those bright shiny objects only work for those who sell them to you.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) 28 days ago

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