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QUESTION - “For those of you that use Listsource, how effective and productive is it? Who has gotten legitimate leads that lead to closings from Listsource? Worth the money? Out of 100 names,how many realistic leads may lead to a closing?”
This is a loaded question(s) but God is bigger than this question.
The question came from a newbie in real estate wholesale who is basically snooping around looking for shortcuts to generation motivated seller real estate leads.
That’s what people go to places like Listsource source to do. But specifically, Listsource is a data collection platform.
They don’t promise you anything other than a list of property addresses, theirs owners and many times, the owners’ mailing address.
I get it.
If I were you, I would be looking for the easiest, smartest and fastest way to real estate motivated sellers.
Listsource pricing and cost varies based on what data you want access to, how often you want access.
So if you understand database management as it is related to marketing, you can save money.
There are instances when you can just pay one time to download a list. Other times, you may owner a call center and need data access consistently to market to.
Your worst case scenario with using Listsource services is downloading bad data which I don’t think they have a problem replacing it.
Data brokerage is a very lucrative business. They have to be stupidly greedy to try to steal from you.
So how effective and productive Listsource or any of the other alternatives and competitors is... depends on your marketing skills.
It’s a data collection platform. That leaves us with the 2 possible reasons why Listsource won’t work.
1 Listsource won’t do your data research a.k.a skip tracing which is how you find phone number for the owners.
2 Listsource won’t do your data outreach a.k.a marketing and prospecting which is how you attract motivated sellers and cash buyers.
You can access all the data you need to become successful but they can’t guarantee your success because they don’t know your willingness and ability to learn market research and marketing.
“Who has gotten legitimate leads that lead to closings from Listsource?”
Listsource does not sell leads. They sell data and it’s up to you what you do with the data.
It’s your data or market research which may include skip tracing or online research that will turn these data to leads.
You can call a list of name and addresses leads until you attach media to it. That may be phone numbers or a campaign like direct mailing or digital marketing.
“Worth the money?” Yes but that depends what you do with the data they sell you. Data is king if you know how to market to it.
“Out of 100 names, how many realistic leads may lead to a closing?”. The honest answer here considering the mindset that is asking this question is ZERO.
But then, you could also close 5 deals from 100 names. Not all data list are created equal. For example, auction foreclosures performance or conversion rate would be different from absentee owners or tax delinquent.
There are too many factors to consider. But the main factor is YOU.
Are you willing to become a student of marketing in this digital age?
If the answer is “yes”, you’re good. If not, never mind. You will fail in this and any other business. You will do better on a regular job.
By the way, Listsource can be used for free to collect count and census data. For example, you can use it to know how many pre-foreclosure or cash buyers are in a city.
These are meaningful pieces of information that can become intelligence in you real estate wholesale business.
By the way, platforms with promo codes such as biggerpockets etc may tell you that’s all you need. They probably don’t mean that in full context. You need to learn how to market.
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ABOUT YOUR HOST ::::|
Ola "Tux" Abitogun is the Creator of myEmpirePRO and author of Smart Real Estate Wholesaling. He became a FULL TIME entrepreneur in October 2006.
He is a computer engineer and an engineering management graduate from New Jersey Institute of Technology; (NJIT) class of 2004/5. He was born in Dallas Texas and raised in Nigeria by his Nigerian parents. He considers himself a proud Nigerian American.
Today, he is a marketing addict, trainer, marketing and business consultant, real estate investor and all around serial entrepreneur. Most importantly, he is husband and a father. The professional work he is mostly proud of is personally helping 1,000+ entrepreneurs around the world reach greater heights in their careers.
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