Don't Buy Leads Even With Money Back Guarantee
Strategy

Here's Why You Shouldn't Buy Leads Even With Money-Back Guarantee

Just like anything that sounds too good to be true, buying leads can actually cause more harm than good for your property business – read more here!

Having to constantly find leads for every property or new launch condo you market can quickly get exhausting. 

That’s why most realtors succumb to buying their leads – so, rather than searching high and low for interested buyers, they can simply focus on closing deals and earning their comms. 

Sounds good right? 

But what if we told you that buying leads even with money-back guarantee can hurt your property marketing agency?  

Now, before you waste your time, money, and energy in purchasing real estate leads, let’s first take a look at their drawbacks. 

Let’s dive right in! 

1. Your leads aren’t qualified
2. You won’t make a good impression
3. It’s a risky gamble
4. Your account might be penalized
5. Competition is tough

1. Your leads aren’t qualified

It’s important to keep in mind that none of the leads explicitly chose to hear from you or anything about your property campaign.

You see, most of the time, paid leads are just people who signed up for something on another website where their information was then passed on to you. As such, they can’t really be considered as leads or prospects in the first place. 

Simply put, any attempts to reach out to them would be unwanted and intrusive. 

Think about all those times when you got calls from your bank about another one of their new investment programmes. Have you ever found yourself interested enough to listen in or did you just find them annoying? 

We’re betting you were even counting down the seconds to hang up. 

Well, when you contact paid leads, you’re no different. Only this time, they don’t even know who you are – which honestly makes things worse. 

2. You won’t make a good impression

Every realtor knows how important first interactions are with their clients. 

This vital step sets the tone of your relationship and fosters trust. In fact, this is when you paint yourself and your business as deserving of their consideration. As a result, creating a positive experience from the moment potential buyers or sellers interact with your business should be your goal in order to keep them throughout your sales funnel. 

With paid leads, you’re already damaging your chance to establish this positive relationship from the very beginning because – let’s be honest, nothing screams ‘scam’ like random phone calls from people you don’t know. This means instead of starting off on the right foot, you’ll end up sowing poisonous seeds of doubt in the minds of prospect buyers which will then grow to give your agency a poor reputation. 

The last thing you want to do is to leave your customers with the impression that your company uses dishonest methods to cut corners – and that’s exactly what paying for real estate leads will do. 

3. It’s a risky gamble

Don’t get us wrong, we’re all for gambles when they don’t cost you too much with possibilities of working out in your favour. 

But buying your leads isn’t one of those safe gambles. 

While it sounds tempting to have a full list of potential buyers in your hand within a day, what most lead generation companies don’t tell you is that these lists are often inaccurate, used, or out of date. 

This means you’re just wasting cash on data that’s not fit for purpose. 

Now, you may be thinking you’re safe just because you were promised money-back guarantees in case the leads don’t pan out. But even with this security you would have wasted precious time making cold calls instead of reaching out to warm or hot leads of your own. Unfortunately, once you realize this, your competitors would already be leaps and bounds ahead of you.   

Can you really afford to take that chance?

4. Your account might be penalized

We have all been on the receiving end of emails or calls we’re not interested in. 

Try checking your inbox and junk mail right now. How many messages do you receive each day from various companies you don’t know or care to know? 

Okay now, double or triple that number and you have a taste of what these “leads” experience on a daily basis. The reason behind this high figure is because you’re not the only property agent buying leads. Most of the time, the leads you receive are also the same ones passed out to others. 

This means the recipients of your cold emails or calls are no stranger to being flooded. While unwanted messages are, at best, ignored when they come in, you still face the risk of getting flagged as spam. Once a certain number of spam reports are received, your account will be blacklisted and all messages sent from it will automatically be identified as spam.

This can make any future attempts to use your business account very difficult. 

5. Competition is tough

Remember when we mentioned you’re not the only one with the same list of leads? 

Yeah well, even if you had a chance at these leads, you will still be competing with other agents in your area since there are high chances you’re all vying for the same leads and potential clients. In most cases, many of the leads are first come, first serve. Unfortunately, if your agency is small or short on hands, those with more resources can quickly snatch up these clients. 

This simply means if you’re not fast enough, all you’re going to be left with is a bunch of missed opportunities. Remember, getting a lead doesn’t guarantee you’ll land a client.

Learn anything useful from this article and many others like it from our blog? Make sure to also visit our LinkedIn or Facebook page for more effective tips, tricks, as well as guidance on building successful new launch campaigns. 

Looking for hot, qualified leads to close on? Then you’re in the right place! For years now SellMoreCondos (SMC) have helped over 80 realtors across Singapore do just that with effective digital marketing strategies. From crafting click-worthy property Google Ads, to user-friendly landing pages, attractive real estate microsites, and many more, we offer brokers high-quality services to reel in all the leads they need. But don’t simply take our word for it – feel free to check out our case studies before you get in touch with our friendly team today!

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