I use free reports and they work to an extent. I pay for classified ads at a couple local papers advertising my 800 hotline, about $1,500 per month. Buyer prospects like my free computerized listings report a lot, and next is my zero down payment. I pay for a transcription service so I don't have to try and transcribe incoherent messages; it's nice.

I put them on my database and send people postcards later. Some I call.

I was just talking to a business owner who has had very good success with his free reports. They generate a lot of interest in his services and keeps his names on people's minds. He is not in the real estate business but offers services for foreigners in the Czech Republic. It is a vote in favor of. Czech Republic Living Check it out.

"Free Reports" on whatever is just another way to get someone to raise their hand and say I want to buy or sell some real estate.

Mine captures their contact information for follow up just like my IVR 800#.

I've found the free reports are not a particularly effective lead generating tool.

I've found that I've used my website, not so much as to generate leads, but for a place to send leads for information on everything from downpayment programs, local information, loan information, "How I market a property" info, to hey, look at this virtual tour I bought. See all the great listings I have... I am somebody. I can sell your home too.

When I get a new listing I send a postcard to my sphere of influence and brag about it, they go and check it out, are impressed... then that tells them I'm still in business and business is good.

I send buyers there to search for properties and sellers there for a quick pre-view of the marketing plan they'll see at our appointment. They can also get a little background on me before our appointment.


www.gishgroup.com

Requiring that visitors do anything is usually a bad idea. Freedom reigns on the web, and that is what browsers are used to...

I'm very surprised to hear these comments! My clients have good success with Free Reports. Now of course this isn't what sells a house, or makes them become a client. Free reports are just a tool... a tool to entice someone to give you their email address for something of value; a free report.

A quick sampling of data:
8.44% of leads captured (on ireagent sites) are from the free reports request.

Now how many of these leads follow up and buy and sell a home with the agent they got the free report from? hard to say. I guess it comes down to NOT the free reports being viable, but how well do you stay on top of these leads and follow up with? If there's a CHANCE you may get one lead a year that ends up in a sale, why not offer them?

Also I would like to comment on the "requiring" visitors to register:
I always disliked that very much, and built all sites on the premise that we give you something for free, and hopefully you use us for your real estate needs. That worked very well for quite a while, and we constantly get comments on how nice that was and that is why they used that agent.

BUT... we have also started building sites for agents that require registration. We build these sites ALONG WITH totally free sites, and the amount of leads captured has tripled! If you are promoting both sites equally well, both your site will get good traffic, and those that will leave their information first, great, you got the "lead". If not, hopefully they back out and end up at your other site that does not require registration.

What we have found is people are not too put off by needing to register if they think the information they are seeking is valuable, like to search an online MLS. For most web surfers, this is not something they do all the time, and they do not know they "can" get this information without registering... they just landed on your site first which required registration.

Personally, I'm still torn on this issue: I like the not having to register, but my clients really like the leads it generates!

Hi Everyone! I’ve been meaning to join this forum for years and have finally taken the plunge. I’ve got to hand it to you Doug – this is an excellent forum!

I tried the free reports mixed with the 800 number call capture method when I was first starting out in real estate around 7 years ago. I found that it was really hard when it came to following up with the prospect and find the same holds true today. I also felt really slimy when following up with the leads having captured their numbers. I only tried it out for a few weeks.

I agree with Michael that it’s a great way to get people to your site but it can also be extremely expensive advertising in the local paper and the reach of the local paper is just that – local where the search engines are 24 hour non-stop international advertising campaigns that if you know what you’re doing cost very little if anything.

That said, the real reason I’ve never been a big fan of free reports is that if it’s set-up in such a way that the prospect has to enter all of their personal information into a form in order to get the report emailed to them, it’s going to be really difficult to get them to respond to your follow-up attempts. The agent is sending a report that doesn’t change from person to person and the prospect knows that and sees the agent as pushing their contact details out of them when they could have just clicked on a link without forking over their name, email address, etc. to view the report.

On the other hand, if you promote an instant email notification feature on your site where buyers can fill in what they’re looking for so that you as an agent can let them know when a match hits the market, they’re going to be much more willing to follow-up with you as you absolutely needed them to fork over their personal contact info because their information request is specific. In other words, what you send them will be different than what you’d send another prospect as opposed to the special report where it doesn’t change from person to person.

You only get one chance to make your first impression and a lead’s no good unless you can get them to respond to your follow-up. You have a much better chance at developing a trusting relationship with a prospect when they understand that they had to give you their contact info for a reason.

Welcome Russ - good to see you here!

Your valuable insights will be appreciated by all

"I found that it was really hard when it came to following up with the prospect and find the same holds true today. I also felt really slimy when following up with the leads having captured their numbers. I only tried it out for a few weeks."

I agree! Capturing their phone number without them knowing it... I've always found this under-handed and sneaky.

"You only get one chance to make your first impression and a lead’s no good unless you can get them to respond to your follow-up. You have a much better chance at developing a trusting relationship with a prospect when they understand that they had to give you their contact info for a reason."

I agree again! This is where an automatic email drip campaign system comes in so handy. Each campaign should have a unique set of letters designed to give the impression you are sending them personal emails. You give the impression of personal service, continuos follow-up, and you don't do anything until the person replys or contacts you.

I just can't stress enough... if you are going to do ANYTHING different for the new year, get yourself a good automatic email drip campaign system.

Thanks for the warm welcome Doug!

I agree with you as well Greg. It's so important to have automation as long as it still appears to be personalized; otherwise, it's so easy to burn yourself out dealing with all of the leads.

Yep Russ... anyone that tells me that a website generates too many worthless leads, or doesn't "get" qualitifed leads off the Interent, isn't using a good automatic drip follow-up email system. A good automatic follow-up system does all the work for you, for years if needed. Then you only follow up with the hot leads that reply or call you.

I like offering free reports both in my IVR system and on my website. True, the reports themselves do not sell homes, but it is an opportunity to give something of value. My reports are very informative, and valuable to prospects telling them the ins and outs of buying or selling real estate. It is important to look professional and offer something of value to the consumer. The reports do that in an inexpensive way. Also, you can capture the lead which then becomes a warm lead and you simply follow up as a customer service followup and ask if any of the ideas in the report made sense to them, and what has got them thinking about buying or selling real estate. I do not feel bad capturing their number and calling them back since they called my 800 number which costs me money, and therefore, I should be able to track and followup up with the caller. If you do this in a soft tone way, and with customer service in mind, the prospect usually has no problem. I simply use a script and say, "Hello, my name is ... with ... real estate. I am making a customer service call. I see you called my 24 Hour Real Estate Information Hotline about the ..., and I just wanted to followup up and confirm your address to make sure I send the report to the correct place."