I signed up for RedX last April, and have had great results so far. I opted for both the FSBOs and Expireds and got a fantastic package deal to pay upfront. I've listed three homes so far, two have already closed, the third is in escrow - total commissions for the three deals: $17,007.50. Not bad ROI on the $599.00 I spent.
If you use this program right, and combine it with a good system, you really can't fail. In my area (MA), probably 95% of the Expireds are on the DNC list, and I am reluctant to call those even though it's obvious that people do. I have a direct-response 6 step letter campaign that directs them to my IVR, with the idea that once they call the IVR I can then call them back and get an appointment. I'm not happy with the results I've gotten with this letter campaign, so I am going to invest in Borino's ExpiredPlus system next month, I think.
The three deals I did get so far were all FSBOs. I coach with John Gualtieri at Real Estate Champions, and he recently gave me a phenomenal FSBO system that one of his other coaching clients developed for himself, and it's like shooting fish in a barrel. I call every FSBO that RedX pulls (EDIT: The following stats are from only the past few months, since I started this new FSBO strategy - and for most of that time, there weren't a lot of FSBOs to call, though that is now changing). About half call me back, and half of those agree to meet, and right now my numbers are 60% of those that I meet with list with me, and so far they've all sold. The first one sold in 10 days, the second in 4 days (at $500 over asking price), and the third I listed this past Friday, showings started on Sunday, and we put it under agreement yesterday.
My biggest challenge has been that there weren't too many FSBOs to call for a few months. I am two towns from a county line, and just this week (Monday) I added that other county to my RedX FSBO subscription. That gave me another 20 FSBOs to call so far this week. I've got two tentative FSBO meetings for Saturday so far, with a lot more people yet to call. My goal is to list another 1-3 FSBOs before the end of this month (today's the 25th, so that's ambitious).
I used LandVoice years ago, I can't speak for their current product, but I didn't get any results from them then, and I don't see myself switching from RedX. I will happily re-up with RedX at the end of May, when my sub expires. I use a few tools, and RedX has definitely delivered.
Edited by CJCRealtor (03/25/10 11:59 AM)