The 6 Best Real Estate Lead Generation Tools for 2020

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Editor’s note: This review is written by an agent and is entirely their opinion. We will also be adding user-submitted reviews of lead gen tools in the future.

Real estate lead generation tools are more critical now than ever. With nearly 2 million real estate licensees in the United States (according to the Association of Real Estate License Law Officials (ARELLO)), competition is fierce.

To be successful in today’s real estate market, you have to have a robust lead generation strategy that can keep your leads flowing and your prospect pipeline full. In the dark ages AKA the days before digital advertising, you had to have a healthy budget and connections to advertise your business on billboards, TV, radio, and other native means. Nowadays, pretty much anyone can create digital ads on a budget and attribute their success (or lack thereof) to campaign performance through metrics.

In this article, we’ll be reviewing some of our favorite real estate lead generation tools in detail: YLOPO, Boomtown, BoldLeads, REDX, Realtor.com, and Opcity. We’ll be providing an overview of each product’s service offerings, performance, price, best features, and areas in which improvements can be made.

The goal here is to ensure that you’re well-positioned to grow your business, whether you’re an independent realtor, a large team, or a brokerage.

Before we dive into picking the best lead generation tool for your real estate business, let’s take a look and review some terms that will be used throughout this article, so let’s get you up to speed:

  • CRM (customer relationship management)
  • API (application programming interface, or how two programs share information)
  • Prospect Pipeline (number of potential clients that you’re currently working to close)
  • Close Rate (how many real estate deals you close out of your pool of leads)
  • Merge Fields (can be added to email templates, providing custom text based on values from your records e.g., your clients First Name or Last Name would be a value that the merge field can draw from)

YLOPO

YLOPO aims to be the world’s most intuitive real estate search engine and leverage the platform to deliver digital marketing services to lenders, realtors, and brokerages.

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They aim to accomplish this through their deep industry experience, expertise in digital marketing, and enterprise-grade engineering. The platform hopes to provide a full-service solution to lead generation for the real estate industry.

Features

At first glance, YLOPO’s platform comes across as intuitive and well-designed, and it provides a wide array of accessible features.

The goal of any real estate lead generation activity is to attract qualified clients (buyers and sellers) to take action on your website, such a submitting a lead form, viewing a specific page, or giving your business a call. What’s an effective way of attracting these clients? By having an IDX listing that allows users to search homes in their desired area.

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YLOPO’s suite of services includes building clients a branded website with IDX integration that is mobile optimized. Too often, real estate professionals focus on their desktop website without much thought to mobile.

According to StatCounter, it’s time for them to think inverse. Mobile & Tablet internet use has outpaced desktop use since October 2016.

Once the website is taken care of, YLOPO takes it to the next level with Mission Control.  Mission control is a user-friendly dashboard that allows clients to manage their advertising (Facebook, Google, etc.) through a centralized tool.

YLOPO Real Estate Lead Generation

You have your branded website, great! Your website has IDX integration, even better! Now it can function as the cornerstone of lead generation for your real estate business.

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YLOPO’s differentiator from market competitors is its ease of use. Through the use of APIs, they’ve been able to engineer a centralized dashboard that helps you create ads for critical platforms such as Facebook / Instagram and Google.

One aspect that we like is the use of dynamic real estate ads. Made simple, dynamic ads pull your existing home list in real-time and package these homes into an advertisement to those that could potentially be interested in a property in your search area.

Price

YLOPO offers two price structures: for those that want only to use their technology and for those that want to use their technology and have them manage their real estate marketing generation marketing.

Although they don’t directly list their pricing on the website, our research shows that packages start from $295/month.

BoomTown | Real Estate Marketing Software & Technology

When you have “ROI” immersed as a part of your website URL as boomtownroi.com does, you’d better be able to deliver on that promise.

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BoomTown aims to generate better ROI “inevitable” through new prospecting, managing growing databases, and increasing agent productivity. It also positions itself as being an all-in-one solution providing a CRM, real estate lead generation tool, transaction manager, and communication management tool.

Features

BoomTown offers four product packages: Launch, Core, Grow, and Advance.

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The higher up you go on the package ladder, the more users and features that you will receive. Their entry-level Launch package provides the staples of putting together a sound real estate lead generation strategy. The Advance package comes fully loaded and ready to rumble.

Some of the cooler features are: 

Tagging & Segmenting:

A quick, easy, and effective way to maximize your advertising efforts. Split your prospect campaign activity to retain high-value leads and find ways to close low-conversion leads.

Zapier Integration:

Tie your off-site activity through Zapier and streamline your marketing efforts to reduce manual effort and maximize lead generation and ROI.

Mobile App:

When more than half the world is accessing the internet on their mobile & tablet devices, it’s essential to have a tool that can be on the go as much as you are as well.

BoomTown Real Estate Lead Generation

BoomTown’s real estate lead generation options are quite robust, from having an IDX website with Agent Subdomains to customized smart drip campaigns to automatic lead response within 90 seconds. The BoomTown team provides a streamlined process from lead generation through to nurture and, eventually, conversion.

If you’re a team or a brokerage managing multiple agents, the reporting dashboard provides a centralized hub for you to manage and distribute leads to various associates.

Price

Due in part to providing a robust end-to-end real estate lead generation platform, BoomTown’s comes in at $1,000/Month for their entry-level launch package, which is suitable for up to three agents.

If you are part of a bigger team, you can opt for their Grow package for $1,750 per month, which can be used by up to 10 agents.

BoldLeads | Real Estate Seller Leads

BoldLeads claims that last year alone, they “helped thousands of agents generate over 800×000 buyer and sellers leads.”

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Since its inception in 2014, BoldLeads has found a way to automate lead generation, build a lead nurture process, and simplify the follow-up stages through to closing the transaction. They help users through every step of the customer journey as well, even assisting with ad creation and integrating lead capture in with the BoldLeads CRM as well.

Features

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BoldLeads offers a full suite of real estate lead generation software and services. As we mentioned earlier, they’re able to assist with ad creation, have the automation take care of lead nurturing through funnels and follow-up, and provides a robust set of additional features to supplement your marketing campaigns as well. Some of our favorites include:

Inbox:

In today’s day and age, communication is vital. As such, there’s probably a high likelihood that you’ll have multiple touchpoints with a prospect on a variety of platforms. Inbox allows you to consolidate all of those conversations into one screen.

Text Concierge:

You may not be a Madison Avenue Advertising Executive, but that doesn’t mean that you can’t have an Executive (AI) Assistant. With Text Concierge you’re able to respond to leads right away through text, with the help of technology.

Lead Referral:

Ever run into the problem of having too many leads? Do you find yourself pausing your campaigns because you just can’t keep up? With only one click, you could potentially receive a 20% referral fee for leads you don’t plan to work.

Email and Text Templates:

What’s the point of having a beautiful website with all the bells and whistles a prospect could ever need when your follow up emails look like something you quickly scraped together? Email templates allow you to maintain brand consistency.

BoldLeads Real Estate Lead Generation

A CRM designed for real estate, BoldLeads offers an easy to use, customizable, and affordable software for agents, brokers, and mortgage brokers.

The software offers a robust suite of services, allowing you to use pre-set drip campaigns and all the functionality required to help nurture a cold lead into a closed client. Sometimes, marketers stop once they’ve reached the conversion stage, but with the right drip-campaign set up, you can turn your clients into advocates for your brand and help grow your business even further.

Price

Think of BoldLeads as a lead generation machine that happens to offer complementary services to aid in your marketing efforts. As such, their pricing to manage your PPC (pay-per-click) Facebook and Google campaigns start at $299 per month.

Although BoldLeads allows you to “claim” a geographical area for advertising, they do like to bring you on for a minimum six-month contract. A six-month contract may be OK if your area is rich in high-intent lead activity, however, it may prove to detrimental should you be in a low-population / low-intent zone.

REDX | Real Estate Prospecting Platform

The REDX team approaches real estate lead generation from a different angle, by not only focusing on leads but the prospecting as well.

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Where other companies may delve into both buyer and seller leads, REDX’s primary focus is on connecting real estate professionals with high-quality lead data through their proprietary software, Vortex®. It utilizes technology to get the most accurate phone numbers and contact details for expired real estate listings, allowing you to reinvigorate those leads into potential business.

Features

REDX’s bread and butter feature is their ability to prospect for expired lead prospects. Through Vortex®, REDX combs the internet, listing services such as MLS and other resources to identify individuals who had listed their home but were unable to close a sale. They get their phone numbers and pass them off to you so you can begin calling the expired listings within your region.

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If these clients have not relisted their property, then it gives you an in to engage them and get that property relisted. There are a variety of reasons as to why a home may not have sold the first time: it wasn’t priced according to market conditions, the staging was inadequate, or there wasn’t enough marketing to maximize the property’s reach.

Aside from prospecting expired leads, REDX also offers the option to prospect FSBO (For Sale by Owner), and FRBO (For Rent by Owner) leads so you can continuously keep your calendar booked with appointments.

REDX Real Estate Lead Generation

Unlike some of the other tools on this list, REDX specializes strictly in lead generation. Their software does one job and one job only, generate real estate leads from a variety of avenues through their Vortex® platform.

The leads are generated through the following methods:

Expired Leads

As mentioned earlier, REDX generates real estate leads through combing various directories for expired listings. It then amalgamates all phone numbers for leads and hands them off to you for follow up.

Geo Leads

The average homeowner moves every six years. You can drop a pin on any neighborhood within your prospecting region, and REDX will identify homes that have a higher potential to go on sale. They look at purchase date and filter out any homes that were recently purchased, saving you time and effort to dedicate towards properties more likely to convert into leads.

FSBOs

For Sale by Owner (FSBO) leads are listed by owners on various listing websites, those that are real estate-specific as well as those that are not. By providing you a list of these leads, you can then follow up with owners who may be fed up with the stressful process of trying to sell their own home in an attempt to turn these individuals into clients.

FRBOs

For Rental by Owner (FRBO) leads specialize in scoping out and identifying landlords who have vacant rentals. These homeowners could potentially be one extra vacant month away from reaching out to an agent, giving you the perfect opportunity to capture high-quality leads.

Pre-Foreclosure

Vortex® does the dirty work of combing county court and tax records to find distressed properties. However, just knowing that a property is distressed is not enough, through the REDX suite of services, you’ll receive a contact list of all owners that have properties entering possible foreclosure.

Vortex®

REDX’s complementary prospecting tool, Vortex® is available with any product purchase. Any leads you buy from REDX will be housed in the Vortex® platform for you to manage lead interaction to supplement your marketing strategy.u

Pricing

REDX’s vast array of real estate lead generation tools come at varying prices. Expired Leads are available from $59.99/Month, Geoleads start at $49.99/month, FSBO leads start at $39.99/month, FRBO leads begin at $79.99/month, pre-foreclosure begin at $39.99/month, and Vortex® is complimentary with any purchase.

Realtor.com | Real Estate Listings

Realtor.com is the people’s real estate website. It is the home of the most extensive home listing database, aside from the MLS.

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One way to improve the chances of selling your home is to get as many eyes on it as possible. Realtor.com does just that by making property listings accessible (with a slight delay) to everyone with access to the internet. The website is an absolute powerhouse, with its parent organization Move Inc. (owned by media giant News Corp.).

Features

If you’re a homebuyer that’s currently not represented by an agent (or even if you are), chances are you’ve used Realtor.com in your home search.

Realtor.com’s popularity creates the perfect real estate lead generation opportunity as these buyers can be highly qualified, have a high intent to purchase, and may not have representation. Through the website listing, they’re able to see who the agent is for each property that they view, and they may reach out to the agent, allowing that agent to represent both buyer and seller.

Another great feature of the website is that it allows users to filter their search whether they’re looking to buy, rent, get pre-approved, view recently sold homes, or take a look at average property values for their favorite neighborhoods. 

By seeing what buyers are getting pre-approved for, the website is able to connect buyers with lenders. Once buyers are pre-approved, they can then be connected to agents to facilitate the transaction. Before any of these steps even begin, buyers have realtor.com’s wealth of data at their fingertips (including crime rates, average median income, average home sale price, and much more). With the prevalent use of the internet, buyers are more informed now than they ever have been before.

Smartphones have revolutionized the home buying experience and allowing those in the market to make data-driven decisions.

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That said, having an agent on your team ensures that your transaction is handled by a professional, helping mitigate the risk of something going wrong.

Realtor.com Real Estate Lead Generation

As the “home of home search,” realtor.com is a powerhouse in the real estate lead generation market when done right. Unlike other tools that get buyers to come to you, realtor.com already has data on buyers that are active in the market, and their secret sauce lies in connecting agents to these high-quality buyers.

Within the platform lie a few opportunities for real estate lead generation – namely, organic and promoted listings. Organically, agents who have properties for sale will automatically have their name attached to any property that is listed on realtor.com, allowing these buyers to get in touch directly.

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Along with the opportunity to search for homes, the website also allows users to search for agents! They can filter by: agent, team, or company, then enter the city or zip and even the agent name! If you already have a strong brand awareness campaign running through native media (billboard ads, bus ads, radio etc.) and your audience can recall your name, they can type it in directly into the directory and you will show up. There’s even an opportunity to filter further by certification and designation, making this search feature even more robust.

To capture seller leads, realtor.com has added a home value calculator where a user can input their address and stay apprised of market trends in their neighborhood. These leads are generally high-quality and intent, making them prime picking for agents looking to reach sellers!

Pricing

Realtor.com takes a unique approach to pricing for their real estate leads. The cost is dependent on the price of homes in that specific zip code. Your best bet would be to buy out all leads available within that zip code, or you run the possibility of contacting leads that have already been approached by other agents.

Unfortunately, realtor.com is quite tight-lipped in regards to their pricing structure. Based on our research, pricing varies between $200/month to $1000/month and may require a 6-12 month commitment. 

Opcity | Boost Your ROI

Opcity takes a new-age approach to real estate lead generation. By leveraging artificial intelligence and machine learning, the company connects agents with home buyers and sellers through an online database.

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The company was bought out by realtor.com’s parent company, Move Inc. in 2018. It has exploded in popularity and is currently in use by more than 40,000 real estate agents at over 5,000 brokerages across the world. 

Features

Opcity takes a different approach to real estate lead generation. Where others may focus on the quantity of leads that you pay for beforehand, Opcity features a referral-based lead generation program. Essentially, agents only pay once their lead closes (upwards of 35% of an agent’s commission fee).

It may seem like a hefty amount to some, however, the secret to Opcity’s success has been the effectiveness of their technology to vet cold leads, distinguish warm ones and then hand them off to agents to close. When considering the likes of realtor.com or Zillow, both website capture leads through buyer searches and form submissions, and then pass them off as-is to agents to vet offline. Opcity’s model uses artificial intelligence to validate the quality of the lead and then follow it through to close to ensure that Opcity can take its cut from any deal made as a result of the service.

The key differentiator here is that Opcity doesn’t sell real estate leads; it sells real estate customers. If there’s no sale made, there’s no fee taken. But if you take a look at the average Zillow lead costing $55 and compare that to a 2.75% commission made from the sale of a $250,000 home, Opcity’s referral fee on the transaction would be $2,000, or 56X more than the cost of a Zillow lead!

Opcity Real Estate Lead Generation

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Opcity has two options to generate real estate leads: Opcity Referrals and Broker Lead Accelerator.

Opcity Referrals:

The company’s standard program where Opcity purchases a list of leads, uses their data technology to vet the leads and then passes them off to an agent to close, monitoring each opportunity from beginning to end, and then collecting a referral fee. 

When a lead comes in, it’s imperative to get in touch with them quickly. Opcity dials seven days a week and is typically on the line with a prospect within 60 seconds of inquiry! They then have their team of reps screen each lead to qualify potential buyers from those just looking at properties. Finally, the algorithm matches the lead up with local agents in real-time and the first to click “claim” wins and is given a live transfer of that phone call.

Accelerated Agent Leads:

Unlike Opcity Referrals, with Broker Lead Accelerator, Brokerages have to pay a per-lead cost, plus a reduced referral fee for each deal that’s closed. The upfront cost is reflective of Opcity taking responsibility for inside sales and performance management for your brokerage.

They screen leads, assign them to your brokerage’s agents, and then assist with closing the transaction. To go along with the same features as Opcity Referrals, they also provide rigorous follow-up, reaching out to a contact up to 26 times over many months.

With this package, as a broker, you will also receive access to a centralized dashboard that allows you to manage where your agents are with their pipelines with real-time insights.

Pricing:

Opcity collects referral fees for closed business. They don’t pitch you on the prospect of getting many leads; instead, they offer agents the chance to grow their business while Opcity takes a cut from any sales closed through their service. These fees typically range from 30-35% of a closed real estate transaction.

Closing Thoughts

The home buying landscape has changed drastically over the past ten years and now, more than ever, it’s crucial to have a sound strategy to attract real estate leads for yourself, your team, or your brokerage.

We live in a world of instant gratification and short memory spans. As such, it’s important to ensure that once you’ve selected your real estate lead generation tool, that you put in place a strong follow-up process that helps guide searchers from initial inquiry through to close.

With this list of lead generation tools now at your fingertips, we suggest you give them a look and find the one that makes the most sense of your business. Some focus strictly on lead generation, while others offer a full-service solution to your marketing, lead generation, nurture, and close process.

We hope you found this article insightful, feel free to send any feedback that you may have regarding this or other articles along our way!