Inbound Lead Gen Sites—Legit or Just a Money Grab?

Question

Hey BP,

I’m looking to ramp up my deal flow for flips and wholesales and considering inbound lead generation services. The idea of motivated sellers coming to me sounds great, but I know lead quality can be hit or miss.

Has anyone had success using any of these platforms?

• LeadZolo
• Motivated Sellers
• Property Leads

Would love to hear if these have actually led to solid deals, what the lead quality is like, and if they’re worth the cost. If you’ve had better luck with other inbound sources, I’m all ears.

Appreciate any insights!

Trevor Mauch · Answer

@Sam Shikiar Those 3 are some of the top ones. I've heard of a few others popping up as well.

Like @Mike Kehoe mentioned, I likely wouldn't use PPL providors as the foundation of the lead generation plan long-term, but they're amazing for supplimenting a plan and/or getting leads quickly in a market that you're wanting to explore/test.

If I'm going to start marketing for leads in a new market I would allocate a budget towards PPL in that market as a quick way to get in front of sellers to see what the overall market is like and how it compares to your existing markets. Then I'd scale my marketing with an "owned" channel... i.e. - a channel where you control the lead gen process start to finish and can leverage your credibility, leverage your brand, etc to stand out.

I know the owners behind ML and PL well, they know what they're doing, I hear good things about results w/ their leads... but as w/ any PPL provider... there will be good leads and bad leads so it's a matter of quickly calling those leads, putting the unconvergted leads into long-term followup sequences (we usually have our InvestorFuse members "resurface" the leads as a new lead every XX days until the property sells or they buy it).

Mike Kehoe · Answer

@Sam Shikiar we've used all three of these. They're oddly streaky and it depends on your location. I have friends in one part of the country that swear by one PPL provider, and friends in the another part of the country have terrible results from that same provider. They're some of the top wholesalers in the country that I know through Collective Genius, so I trust their experience.

I don't know your business or your budget, but if you have a larger budget, I wouldn't make it one of your main sources for lead gen. I would use it as a supplemental tool when your other sources aren't bringing you the amount of leads you need to hit your goals. Dip your toes and test a couple providers at once.

You have to be strict with yourself with two things when using these providers:

1. Reach out to leads as fast as humanly possible and get out to their property as soon as you can. I'm talking about responding to them in 3 minutes or less and getting out to their property to meet them same day if possible. These are the type of people that are online filling out multiple forms and have multiple people calling from them. Speed to lead is key here.

2. Know their refund policy and USE IT. You'll get a lot of crap leads that have no interest in selling and can't recall filling out the form. There are a ton of other reasons for refunds, but you need to be diligent with it.

If you have a smaller budget, I think testing a couple out is a good idea, but follow the two rules above strictly.

Feel free to reach out if you have any questions.

Peter Mckernan · Answer

Really just look at the lead quality when getting into a lead source, but typically it's not the lead quality. Unless you are getting leads that are a 25 year person renting and do not own property, the lead quality is not the problem. For most, it is the follow up. You need to follow up and follow more. I listened to a direct mail marketing owner on stage about 6 months ago, he said, we can mail to all the people you want with the best script, but if you do not follow up you are going to lose money and never be profitable.

So, you need to try them all, see what works in your area by putting systems into place to follow up and actually convert leads. Oh, and create the skills to convert leads too.

The three ways you need to convert the leads from a lead source.

1. System to follow up

2. Skills to sell

3. Follow up by the system you created

Mustafa Othman · Answer

Agree with you but you know some of lead generation sources works on different systems for example there lead generation source as you said can mail with 1 script but you need to follow up and there’s lead generation source deliver high quality leads and they spent money on delivering the highest quality for example you talking about the guy 24 years renting the house, but there’s lead generation agencies their system focus on confirming the owner name and making sure it match owner name on propstream so there’s lead generation or marketing source makes it easy for you

Sam Shikiar · Answer

@Christian Foschini I've been using motivatedsellers and ispeed. Using a CRM along with consistent follow up. Nurturing through education (educating seller's on sale process, market etc) which builds trust. Very transparent with sellers regarding intention.

Christian Foschini · Answer

I personally use LeadsGorilla. Obviously cold leads are not the best. In my opinion, I think they all are virtually the same. They connect via google api and or social platform and scrape information that is already available online, but saves you time in the long run. My question is, how are you planing on nurturing these cold leads once you have them?

Inbound Lead Gen Sites—Legit or Just a Money Grab?

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