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#454508 - 09/16/16 04:42 PM Downpayment.org Anyone Using Them?
Home Seller Guru Offline
Member

Registered: 10/02/09
Posts: 279
Loc: Salt Lake City, UT
I have signed up for their webinar on Monday and was wondering if anyone has signed up for their leads and is having good luck with them. What's the real scoop?!

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#454573 - 09/21/16 05:35 AM Re: Downpayment.org Anyone Using Them? [Re: Home Seller Guru]
davidonpda Offline
Junior Member

Registered: 09/08/16
Posts: 5
Loc: Utah
I did their webinar. They were extremely honest with me after they did their sales pitch.

I asked how many other agents in the area. How many leads they got in the last six months. How many transactions they were under contract with, and how many they had closed.

Here is what I got. 2 agents in the same county. Plenty of room for another agent they said. 488 leads in that time. That doesn't sound too bad for the 2 of them. Nothing currently under contract. 1 deal closed total.

I'll reiterate. That is 6 months. They make you pay a monthly fee, and after I think the second one, they said they refund the monthly fees and you never pay another one.

It sounded like the leads are crap. Don't get me wrong. People have success with them. He also gave me stats for the county next door, (much bigger, many more agents) and the averages were at least workable. You know some of those agents are killing it, and some aren't closing many.

It really depends on how hard you'll work them. Get them pre qualified. If they don't qualify, you have to work them. Get them to where they need to be. All these people want to buy a home. Some just aren't there yet.

The 6 month timeline is probably short. If you want to use this as your main source, they are basically all buyer leads. Lots of hard work, but if you look at it long term, 1-2 years, you could make it work for you.

The 25% referral fee is always there. Remember that. So, if you get 100 leads, and 1 gets through on say a $200,000 transaction, with a 3% commission, You'd gross $6,000, pay $1,500 to them, and basically, pay $15 per lead.

I don't know. I can generate better qualified seller leads for much cheaper than $15 per lead.

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#454589 - 09/21/16 01:30 PM Re: Downpayment.org Anyone Using Them? [Re: Home Seller Guru]
JohnN Offline
Member

Registered: 11/21/13
Posts: 246
Loc: Minnesota

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#454594 - 09/21/16 05:08 PM Re: Downpayment.org Anyone Using Them? [Re: Home Seller Guru]
Home Seller Guru Offline
Member

Registered: 10/02/09
Posts: 279
Loc: Salt Lake City, UT
Thanks so much for the input. I did sign up for it. I hope I don't regret it!

This is my target market and I've done well with first time homebuyers. I think this may be a great way to get more leads in.

I will let you know how it goes!

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#454856 - 10/04/16 03:54 AM Re: Downpayment.org Anyone Using Them? [Re: Home Seller Guru]
Home Seller Guru Offline
Member

Registered: 10/02/09
Posts: 279
Loc: Salt Lake City, UT
UPDATE: Well after 2 weeks I did not have any referrals and the test leads I put into the system myself didn't show up in the backend system either. They kept saying the referrals would start soon. Then I had one of my lenders go onto my domain and enter info in and she got 2 calls from 2 other agents in other states and it didn't come to me at all. So the system, at this point, seems to be pretty broken.

It's one thing to not be getting enough referrals or in my case, any referrals. But to have those referrals go to other agents that aren't even in your market?

I decided to cancel and get my money back before they started sending me any leads. They were very gracious about it and refunded my $700 within a couple of hours. So it sounds like they are having problems in some new markets. I'm just glad to get my money back and move on to some proven systems instead.

I'm sure they will fix it at some point and maybe I will re-look at it then. I think the sales department got ahead of the tech department.

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#454883 - 10/06/16 03:48 AM Re: Downpayment.org Anyone Using Them? [Re: Home Seller Guru]
davidonpda Offline
Junior Member

Registered: 09/08/16
Posts: 5
Loc: Utah
Ouch, their terms of service specifically say non refundable. I'm glad they refunded you. That's pretty much what stopped me from even trying. I don't mind working hard. Even if the leads are not so hot. However, if I since a grand into it, and don't see anything... that's too much money to risk on something like that. If they offered a written guarantee, something I could hold them to and they have a track record of honoring, I'd probably give it a shot.

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#454903 - 10/10/16 02:59 AM Re: Downpayment.org Anyone Using Them? [Re: Home Seller Guru]
Home Seller Guru Offline
Member

Registered: 10/02/09
Posts: 279
Loc: Salt Lake City, UT
Well they say they guarantee of 90 leads in 90 days but that's not very helpful if they don't show up until the last 2 weeks or something. In the meantime you are paying each month.

They were very gracious about returning my money but probably would not have been if I had already been receiving leads.

The other agent here in Salt Lake I chatted with is a little more than 3 weeks in and also hasn't received any leads. They keep saying they are coming but nothing arrives.

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#454914 - 10/11/16 07:12 AM Re: Downpayment.org Anyone Using Them? [Re: Home Seller Guru]
davidonpda Offline
Junior Member

Registered: 09/08/16
Posts: 5
Loc: Utah
I didn't notice you were a fellow beehive agent.

It's interesting you and your friend both tried it in the salt lake market. Because the guy I chatted with, was going on and on and on about how successful their company was in Salt Lake county specifically.

The more I see their business model, this is what I see:

They pay for advertising for leads from your monthly fees. Then, they give you the leads you are paying for. Then they get a commission split with you. Once you prove you give them lots of splits, they stop charging you monthly fees.

Has to be nice to dip from both sides where they make money. If I'm paying someone for leads, why would I also split the commission with them?

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#454968 - 10/14/16 02:30 PM Re: Downpayment.org Anyone Using Them? [Re: davidonpda]
VABroker Offline
Veteran Member

Registered: 11/02/10
Posts: 1071
Loc: Virginia
Home Seller Guru's update was very helpful. Good that people can share their experiences where money being spent is concerned. Helps us not risk cash going out the window to nowhere. I agree, why should a company benefit on the front end AND the back end? Makes you wonder if we should be on the lead-generating/lead-selling side instead.

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#455251 - 11/01/16 05:02 PM Re: Downpayment.org Anyone Using Them? [Re: Home Seller Guru]
Home Seller Guru Offline
Member

Registered: 10/02/09
Posts: 279
Loc: Salt Lake City, UT
Well I can understand why they take some on the front until you start closing some. It's not uncommon for people to get split leads and only work them if they aren't busy with ANYTHING else. So the leads only get attention if the agent is slow at the time it comes in.

So they spend a bunch of money generating leads and then the agents don't give it their all. The agents receiving the leads need skin in the game and once they start making money with those leads, then they will continue working hard on them.

All the upfront money is refunded by the way when you start closing deals.

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#455258 - 11/02/16 08:50 AM Re: Downpayment.org Anyone Using Them? [Re: Home Seller Guru]
JohnN Offline
Member

Registered: 11/21/13
Posts: 246
Loc: Minnesota
Originally Posted By: Home Seller Guru
Well I can understand why they take some on the front until you start closing some. It's not uncommon for people to get split leads and only work them if they aren't busy with ANYTHING else. So the leads only get attention if the agent is slow at the time it comes in.

So they spend a bunch of money generating leads and then the agents don't give it their all. The agents receiving the leads need skin in the game and once they start making money with those leads, then they will continue working hard on them.

All the upfront money is refunded by the way when you start closing deals.

I'd agree with you if we had any posts from someone using the service and making money from it.

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#458505 - 07/22/17 07:10 AM Re: Downpayment.org Anyone Using Them? [Re: davidonpda]
Ryanmcduffie Offline
Junior Member

Registered: 07/22/17
Posts: 1
Loc: United States
Cool info!!!

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