Selling Your Leads to Mortgage Brokers and Realtors etc

[Luke_Frerichs]

I was going through some old notes i made from the Quick Turn Event last October in Toronto and i was just wondering has anyone created a system around selling Leads to such professionals.. We are dealing with Buyers and Sellers on a constant basis where 95% of them don't pann out. Why not make some more cash in the process.. Perhaps if you could bring some local businesses together in the area that compliment buyers and sellers and put together a savings package for each group. That way when they call you up and you are going through the various screening questions you could ask them at the end if they would be interested in saving a bunch of money with your Savings Package.. Sell such leads for $10 - $25 to the local businesses that were interested in being apart of your program..



Anyone attempt doing this yet or have some thoughts on this?



Cheers

Luke

 

[Thomas Beyer]

try to sell 40 or 80 for $500 or $1000 .. then the buyer will test them .. I'd be surprised if anyone woudl pay more for it !

 

[JimWhitelaw]

I've questioned a couple realtors I know about the seller leads and they weren't interested. Most of the people that contact me with a house for sale aren't in a position to use a realtor and they know it, that's why they are checking out the "I Buy Houses" options. I haven't seen that there is a real business opportunity in the lead selling game.

 

[Aaron Moore]

Realtors help me with comparables, supply me with land registry details, and they sell my houses for me after I do a rehab. Compensation from realtors can be in the form of these services. I've been able to convert plenty of seller leads into houses sold through realtors. Also keep in mind that it's common for realtors to pay 25%-30% of their commission to other realtors who refer them clients. So there is a lot of value in QUALITY leads.

To start, I recommend giving leads to the realtors who help you out. It doesn't need to be too formal. I've had success by booking a couple house viewings, taking my realtor with me as my second pair of eyes, and once we see the house and talk with the seller we'll have a better idea as to whether it's me or the realtor who is better equipped to help the seller and their situation.

 

[WJW]

In Ontario, it is illegal for a registered real estate agent to pay for leads to any 3rd party source other then another registered real estate agent that may result in the the sale/lease of a property.



I couldn't get the link to work but if you go to RECO and type 'Bird Dog Fees' in the left menu search bar there's a PDF explaining the law. Another thing to be aware of is that not only can the realtor not accept leads for a fee but anyone caught selling leads or accepting money without a real estate license can be fined. A judgement recently in Barrie had a business pay over $5000 for contravening REBBA (Real Estate and Business Brokers Act). I'm not sure what the laws are outside Ontario, but its a no-no here.

 

[Luke_Frerichs]

Thanks everyone for your feedback



Aaron, you make a good point thanks.. I'm always looking for ways to maintain better relationships especially with my Realtors.



I don't mean selling leads to just Realtors, but many times you find out about a major painting job or landscaping job, etc.. I believe People/Businesses will pay for solid leads... If you offer people a deal on a service, they will bite. Then again do you really want to tie yourself up with collecting nickels and dimes... if someone was to create a website which would wherehouse all your leads and provide businesses to pay online for such leads (auto-pilot) that would work..



Think of all the tire-kickers and calls you get that waste your time why not turn a few of them into an income stream..



If i do implement it down the road i will be sure share how it worked out..

 

[JimWhitelaw]

[quote user=Luke_Frerichs] if someone was to create a website which would wherehouse all your leads and provide businesses to pay online for such leads (auto-pilot) that would work..


It's been done many times over.



http://www.google.ca/search?sourceid=chrome&ie=UTF-8&q=lead+selling+software