If you're looking to build your database and bring in more leads without having to do all the research and work yourself, buying leads for cold calling could be just the thing!

But before you start dialing away, there are a few pros and cons you need to consider.

Purchasing leads for cold calling can be a great way to get access to more potential buyers and sellers compared to what you would find with your own research.

This means you will save time by not having to build your own list from scratch, but you are also likely to get more accurate data when buying leads from reputable companies.

Many companies also have what is called a power dialer.

A power dialer is an automated tool used on paid lead generating websites to help agents quickly and efficiently reach out to potential clients.

It helps you drastically increase the number of contacts that you can make in a day.

On these paid lead platforms, a power dialer will automatically call from your list of leads, leaving voicemail messages if necessary and then move on to the next lead in line - all without you having to dial! (Pretty sweet right?) This reduces the time and effort needed for calling prospects by hand.

Another benefit of buying leads is the ability to target specific demographics and locations.

This allows you to more effectively reach out to people who live in the areas where you want to sell real estate.

Being able to focus on those most likely to be interested in your services saving you time and energy! In addition, it can also lead to higher conversion rates and better ROI for your real estate business.

Buying leads also gives you immediate prospects!

This is by far the BIGGEST pro on the list!

This and the fact that you will have a continuous flow of new leads being generated for you.

Many lead companies have packages so you can target specific types of leads such as FSBOs, expired’s, and more.

A couple other benefits that can be included are CRM systems, personalized IDX websites, higher visibility, analytics, sales funnels, and my personal favorite automated follow up!

After all those pros its hard to believe there would be any cons right?! WRONG.

Some lead companies offer “shared” or “non-exclusive” leads which can put you in competition with others agents.

This means if you don’t have a system for incoming leads or you are not quick enough you can lose your lead to another agent.

Getting a lead does not mean you get a client. Shared leads are a race to the close so be aware of what kind of leads you will be purchasing and know if they are exclusive to you.

Be warned though, exclusivity comes with a bigger price tag!

Some leads just aren’t good. PERIODT.

Make sure you do your research before paying a company big money for less than qualified leads.

Read reviews, ask other agents and check out places like YouTube where there are many detailed videos on the benefits and drawbacks of different lead generators.

Above all if you decide to pay for real estate leads it is still going to take consistency and follow-up!

Your leads are not going to convert themselves. It takes actions to get transactions!

Wish you could generate more leads? Feeling like you’re on a hamster wheel going no where, or worse like you are stuck at a less than desirable production level? Schedule a call with me and find out why I am the perfect coach for you and how joining my brokerage can change your life.

xo. Jenn

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