Are you wondering if you should invest in Realtor.com leads? Realtor.com’s lead service is called Connections Plus, and it offers several benefits that can help agents get more leads and grow their real estate business.
In this post, we’ll cover how Connections Plus works, how much it costs, and whether or not it’s worth including in your lead generation strategy.
What We’ll Cover
- How Does Connections Plus Work?
- How Much Do Realtor.com Leads Cost?
- Are Realtor.com Leads Worth It in 2021?
How Does Realtor.com Leads Work?
Realtor.com’s lead service is called Connections Plus. It works similarly to Zillow Premier Agent, with a few differences in features and functionality.
First, buyers using Zillow Premier Agent can choose which agent they work with and reach out directly to an agent after viewing their profile.
On the other hand, Connections Plus works by sending out a lead to all the agents in a specific area, and then whichever agent contacts that lead first has the most chance of working with them.
For this reason, you need to have a fast speed to lead time to ensure you are reaching out to these leads before your competition does. Like with Zillow leads, it is your job to qualify the leads and see if they are worth pursuing.
Connections Plus provides you with unique features that help you have a quick follow-up time. For example, you get access to an automated email and text response system so that no lead inquiry is left unanswered.
You can make these responses personalized so that your leads are engaged until you have the time to reach out to them.
You can also set the automatic responses to ask for important information about the lead. For example, the automated responder can ask your lead for their contact information, recent searches on Realtor.com, and social media profile information.
You’ll also get the option to use Realtor.com’s CRM system. While it may not have as many features as other CRMs, it can track data from up to 150 different lead generation sources. This means that you could easily make Realtor.com your hub for all your lead generation activity.
In addition, if you work in a team, you can quickly add your team members to the database and then assign leads to them to split up the work. The system will keep everyone on the same page and make sure you know what all your team members are working on.
And with the Connections Plus mobile app, you will be able to view, track, and organize all the data in your CRM system while you are on the go. In addition, you’ll be able to quickly respond to messages from leads, including sending automatic texts and emails.
To get started with Connections Plus, you can either fill out the contact form on the Realtor.com website or call Realtor.com customer service to speak with a sales rep.
How Much Do Realtor.com Leads Cost?
Overall, Connections Plus is slightly cheaper than Zillow Premier Agents. Unlike Zillow, where you set a monthly budget for a certain number of impressions, Realtor.com works as a set fee each month. The cheapest option is $200 every month to use the service.
However, Realtor.com has a system where leads are also separated into two categories: exclusive or non-exclusive.
Non-exclusive leads are sent to all agents in a zip code, and they are essentially first-come, first-serve. Whoever contacts the lead first has a higher chance of working with them. This type of lead is the cheapest option.
Exclusive leads, on the other hand, are more expensive. This is because you are essentially paying a larger fee to be the dominant agent in your zip code. Realtor.com will send all the leads in the area only to you.
On average, the monthly cost for non-exclusive leads starts at $200 per month, while exclusive leads cost $1,000 per month. But to find accurate pricing information and get a quote for your area, you’ll have to contact a sales rep from Realtor.com.
While $200 per month is still pricey, it can end up being cheaper than Zillow, depending on your location. Of course, if you are in a highly competitive area you might struggle to get leads. But by paying for Connections Plus’ non-exclusive leads, you’ll have the same chance as everyone else.
Commit To A Contract
Another factor in the cost of Realtor.com leads is that Connections Plus requires you to commit to either a six or 12-month contract. So when you are looking at your budget and determining if your return on investment will be worth it, keep in mind that you will have to pay for at least six months of the service.
Use your location, budget, and desired lead type to see if the cost is worth it for your business. Unlike Zillow, newer agents may have an easier time going after Realtor.com leads. Since these leads are not checking out your profile first, you only need a fast follow-up time to reach them.
Are Realtor.com Leads Worth It in 2021?
Realtor.com is one of the most well-known real estate websites. And while it may not have as much traffic as Zillow, it still has around 86 million unique monthly users as of 2020, which shows it’s a serious player in the industry.
If you’re looking for a slightly cheaper source of internet leads, Realtor.com can definitely be worth it for your business. However, your return on investment will depend on a few different factors.
First, remember that any time you work with internet leads, there is a risk of encountering unqualified leads. For this reason, Realtor.com should never be your only source of lead generation.
While Realtor.com leads are probably more qualified than Facebook leads or leads from paid ads, that doesn’t mean everyone will be worth pursuing.
With that being said, it can be an excellent supplement for your business and can also be a good way for brand new agents to get started, especially if they can’t access the same zip code on Zillow.
Follow-Up Is Key
Fast follow-up is crucial to making Connections Plus work for your business. To qualify your leads, you will have to get them on the phone right away.
Unless you’re paying for exclusivity, you will probably be competing with many other agents. Therefore, you will need to have a fast follow-up time with all the leads who come in. Otherwise, Connections Plus may not be right for you.
In addition, this first-come, first-serve system also creates other problems because leads will have multiple agents trying to call them, which can potentially cause irritation. Again, this is why speed is so essential, so you can be sure you’re getting them on the phone first.
Next, Realtor.com’s exclusive lead system allows you to dominate your local market. While this probably isn’t possible in more popular zip codes, it can be beneficial if you work in a smaller market.
Realtor.com also provides a form of standalone advertising called “Local Expert.” You can use this program to create branded advertisements for your business, which then appear across Realtor.com when an interested buyer searches for homes in your market. These ads also show up on that user’s Facebook timeline.
Focus on Reviews and Recommendations
Realtor.com sends out leads to all the Connections Plus agents in an area, unless you pay for exclusivity. But even though leads aren’t checking your profile first, that doesn’t mean reviews aren’t necessary.
These leads will likely receive calls from many different agents, and the ultimate decision of who to work with will be up to them. Even if your follow-up time is fast and you call the lead first, they may still decide to work with another agent who has better reviews than you.
For this reason, be sure that you ask for real estate reviews on Realtor.com and other major platforms like your Google business page, Facebook page, and Yelp, because the lead will probably do some research on you before deciding to work with you.
Final Thoughts on Realtor.com Leads
Overall, Connections Plus can be worth pursuing if you have the right budget and lead follow-up strategy. Speed to lead time is critical when working with Connections Plus and can determine if your business sees any benefits from the service.
When you sign up to be part of Connections Plus, you will get access to several features to help you have a good response time, including automated text follow-up. Use these to your advantage to get the most out of Realtor.com leads. Read my other post on Zillow vs. Realtor.com leads to see how the two compare.
Do you use Connections Plus? If so, what has your experience been like? Let me know in the comments below!
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