Broker Spot Review: Prices, Features, Reviews, and Alternatives

broker spot3There are a ton of different ways to generate leads out there in the world, and it can be difficult to know which ones will be best for you. 

The goal of this article is to give you insight on one lead gen platform that I think stands out from the rest for one main reason in particular, which we’ll go over when we delve into the many features of Broker Spot, to help you with your decision process!

In this review, we’ll talk about the pros and cons of Broker Spot as a lead gen tool for you to consider and how it sizes up against a few other alternatives

Pricing is a key factor that we’ll discuss as well as who specifically this platform would and wouldn’t be good for to help you better determine if this is a good add value…

Spoiler alert. I like the site/app for several reasons and would likely incorporate it as an asset to diversify my marketing strategies. Keep reading to find out why!

Quick summary of Broker Spot

Broker Spot is a smart lead generation app essentially dedicated to help you target your market with ads by zip code. 

You can go to their website at brokerspot.com, and it’s fairly simplistic, intentionally. 

Upon downloading the free app, you learn instantly Broker Spot exists to facilitate lead generation, client management, marketing, and transaction management, aiming to streamline and enhance your lead conversion operations. 

Their system works by creating ads for you and directing them to specific neighborhoods and markets you specialize in.    

Not only do they help you market with ads, but they also help you convert with…

  • AI Real-Time Chats
  • Follow Up Action Plans
  • Extensive Training/Resources on Marketing
  • Client & Campaign Management
  • And more…

What I do appreciate is that the app itself is extremely user-friendly with full transparency on pricing, campaigns, and client communication. It’s super convenient to have an app on your phone to be able to work wherever you are. 

So now you know the lay of the land when it comes to Broker Spot, now I have some in depth insights into their features…

Broker Spot features

There are a few features that helped differentiate Broker Spot from other Lead Gen sites for me that I want to share with you. 

As I mentioned, there are several platforms to choose from so hopefully considering these will help you expedite your own research. 

broker spot4AI Marketing Resources: 

AI has been controversial as a topic, but it is proving to be helpful when used as a supplemental tool to help generate ideas in your marketing strategies. 

Broker Spot is ahead of the curve compared to other options, and have incorporated AI resources in their features right in the app. So if you’re ever stuck on how to follow up you can generate text ideas instantly with “how to” resources side by side.

“The AI component in the app is a GPT-4 chatbot. It offers the advantage of delivering conversational support that can assist users with their queries while reducing the need for a separate help center full of articles. Additionally, it leads and adapts through user interactions, ensuring ongoing improvements.” 

~Broker Spot Representative

Why it’s useful: This can be a huge time saver if marketing isn’t your strong suit, or if you’re new and you find it difficult to create engaging content with first time client engagement. As always, you do need to make sure what you write is personal. 

Just a reminder… AI can be a huge time saver for real estate agents on the go, but if you rely on it solely, coming across as a robot will likely be extremely off putting to potential leads. So use it, but use it wisely. The adaptation features will help with this over time as well. 

Targeted Facebook Ads: 

Knowing your audience is essential in all of your marketing efforts, which is what makes this feature most likely to help you convert leads. 

Broker Spot uses keywords and target zip codes to strategically place your ads for a higher volume of leads. They incorporate forms in the ad so you will be more likely to capture contact info than if a lead has to navigate away from the site. 

Thankfully within the app they have created a simulation of how the ad will work, so you can test it out before having to spend a dime. (The app is free to download.) Here’s what it looks like… 

Why it’s useful: Having ads being strategically placed to an audience that will likely click on the ad will increase your chance of getting a lead that will convert into a client. 

Also, their ads are visually pleasing which saves you time in creating your own ads that look professional and competitive.   

Mobile-Friendly Interface:

We’re constantly on the go as agents… and we know the key to converting leads is in the follow up. 

This advertising platform being on an app allows you to access and manage your lead communication at any time… in between appointments, in the office, on your commute, anywhere!

Why it’s useful: Flexibility. You can work from anywhere, and rest easy knowing that as long as you have service, you won’t be missing out on a lead. Plus, the design is truly easy to navigate, which will increase your productivity in streamlining your communication process. 

Automated Marketing Features:

Broker Spot’s ads are pre-built templates, but when you set up your profile in the app you can customize the elements of the ad, home valuation forms, and buyer lead forms to align with your brand, which you only have to do once. 

A Broker Spot representative helped clarify the process for me, “The ads are pre-built and they are tailored to the agent’s location. For example:

  •  For Las Vegas: “Unlock the Vegas Dream! Find your perfect home in the entertainment capital. Discover the hottest listings in Las Vegas today!”
  • For Hollywood: “Live the Hollywood Dream Your dream home in the heart of the entertainment industry awaits. Explore Hollywood’s finest properties now!”

Very helpful! Then… as far as I can tell Broker Spot’s highly specialized team takes it from there to ensure that your ads are optimized in obtaining results incorporating intensive data analysis. 

You can then automate your responses to incoming leads with email campaigns and messaging. They are integrated with Zapier as well.

Why it’s useful: You don’t have to worry about coming up with headlines or creative copy to entice buyers/sellers to click on your ads. Broker Spot’s teams are automating the process for you with ads that promise to catch a viewer’s attention based on your location.  

Lead Management Tools:

As leads come in you will be notified instantly. They have tags available for you to be able to follow up with potential clients and set up automated campaigns with priority to also inform your “scripts” when responding. 

You can label them under the following categories:

  • Closed Deal
  • Hot Lead
  • Follow Up
  • Just Curious
  • Partial Leads

You can also download the csv from the app. This is step is crucial in building your client lists for targeted email marketing campaigns. 

Why it’s useful: Keeping your clients in distinct categories allows you to bolster your email marketing campaigns for strong relationship building. You are taking these leads from cold and with targeted, informed campaigns that appeal to your client needs is imperative to help you grow your business. 

39E966FF-0D89-4D15-94BB-4371F7B07FA3Broker Spot pricing

Broker Spot offers full transparency in their pricing, which is all spelled out clearly in the app with programs to fit your budget. You can scale as high or low as you want to get as much advertising in a month period that you feel comfortable with. 

Here’s a bit more about that, 

“To generate leads within your selected zip codes there are different payment options: Pay at closing which comes with a set up fee and a 15% referral fee at closing. Second option is a monthly fee where you set your monthly budget on ad spend. There is also a $50 a month charge for the ad spot. Discounts are available if clients opt in to paying a year up front.”

I personally prefer the referral program. After the one time start up charge, you only pay 15% of the close rate. Referral fees are a small price to pay and common practice in real estate. 15% is fairly low for a referral fee in my experience as well. 

Check out the images from their app below that explain the process and what you will receive in more detail:

Biggest pros

For me, this is a simple tool that could allow me to expand my reach with little added effort or cost. The potential for profit and client building in a specific area seems worth the risk, especially knowing that there is a team monitoring the effectiveness of the ads. 

Targeted Leads: 

All ads are generated within a specific zip code that you determine within your expertise. One of the biggest lessons I learned starting out was to narrow my neighborhood. 

As enticing as it was when a splashy property came on the market, or a client with a huge budget made contact… I quickly learned that if either was outside of my specific market/neighborhoods then I would more than likely be losing a lot of time chasing leads that I could be investing in nurturing clients I would be more likely to help find exactly what they want.    

Customizable Ads:

You want to be able to stand out from your competition. Your colors, fonts, and overall aesthetics will help you, if your branding is consistent. 

Your ads through repetition will become more familiar, even subconsciously, and familiarity leads to you and your business being more recognizable and often more trusted. 

User-Friendly Interface:

This interface is truly intuitive and simple to use. Each feature is mostly self-explanatory, but in case of any question there is an explanation clearly labeled, so you can learn more about how to best use the feature. 

Additionally, they have customer support available for you at any point. Don’t forget, they also have resources clearly labeled within the app prompted by AI, so you don’t have to scroll through a million different resource article to find the info you need.

5A8D1A59-B0A3-475B-9A33-4AA9AA885578Biggest cons

I didn’t find too many, because it’s such a simple and effective concept, but there are a few elements to take note of when doing your research. 

One main function:   

There is one main focus, getting your ads set up and getting lead contact information. The good news is that it’s not complicated, in a world of complex technology they have simplified the process of advertising for one specific purpose. 

They have implemented a follow up system, and integrated with Zapier so you can easily use more sophisticated systems for your email marketing campaigns, which you will have to do with most lead generation programs. 

Cost: 

While I consider the cost quite low, giving a referral fee when you close your deal may not be appealing. 

However, 15% is still a reasonable number when getting leads. It also incentivises their marketing teams to optimize your ads for leads that will convert to the best of their ability. 

Who is Agent Image best for?

I honestly think this could be used for most agents to help be more visible with Facebook users, which is a massive platform to help grow your business. But there are a few in particular who may find it more useful than others.

Let’s see where you fall… 

Agents focused in a particular zip code: 

Being advertised as an expert in a specific neighborhood helps establish you as a trusted source to go to when people are looking to buy and when they are ready to sell.    

Established Agents:

If you have been in the business for some time and are wanting to expand your reach this could prove to be an additive tool to expand your advertising cost effectively with new comprehensive tools at your fingertips.

Newer Agents Seeking Growth:

If you are looking to establish your brand and build your client lists Broker Spot’s optimized marketing and sales strategies are perfectly aligned for your growth. 

02F6002E-B5DE-44BD-8E0A-A8F53270D295Who’s it not good for?

Maybe you already have a lead gen system that is working for you and you’re hesitant to add another platform to your agent toolkit. Totally understandable, let’s see if you relate to any of these circumstances…   

Budget Conscious Agents:

If your budget is already at its max, adding another marketing tool may not be your best investment. However, the referral program is where you could counterbalance that and still help expand your visibility in a specific area. 

Agents with Specific Integration Needs:

Zapier is a leading CRM system, and is integrated with Broker Spot, which is a great system. But you may have specific integrations needs beyond this to help you organize your leads and follow up workflow!  

The alternative is that you can also download all of the leads that you have tagged within the Broker Spot app, and upload them into your CRM system easily. 

Broker Spot Alternatives

If you want to get a head start in your research here are a few lead gen sites that could also be helpful to help you expand your client lists effectively.  

  • Grizzly Leads this site has 100+ integrations and has a built-in CRM system. 
  • Chime a site with optimized lead generation to help you get to know your leads quickly and how best to help them, but their pricing is on the higher side if you’re on a budget.
  • Sierra Interactive This is also an affordable option and is focused in both Google and Facebook targeted ads.   

The final verdict

If your main goal is to expand your client reach in a specific area, which as agents the more area focused you are the better, Broker Spot is a great addition to your marketing tools. 

There is very little risk in your ROI with their referral fee payment program, and overall you are expanding your visibility with a marketing team analyzing the effectiveness of your ads at every turn.

About the Author

Jim Gray got licensed in 2013 and sold 57 houses in his first year. Over the next 6 1/2 years he went on to sell 437 homes with a small team. He went on to manage the lead generation department of the 13th largest expansion team at Keller Williams and designed lead generation and conversion systems for 60 agents in 7 locations in 4 states that drove 600 home sales in a 2 year period. Jim currently does real estate team development and coaching for some of the largest real estate teams in the country.

Last Updated: 5/2/2024