A couple of posts ago, we painted a picture of just how much work it is to hunt down contact information and turn expired addresses into expired leads. In this post, we thought we’d examine just how much money sinking all that time into doing the research manually would actually cost you.
Like we outlined in the previous post, to do research on expireds, you’re probably following these or similar steps:
1. Find Expireds on MLS.
2. Check expireds against actives to make sure they are not relisted.
3. Check expireds against tax records to find homeowner names
4. Check names against phone book sources.
5. Check expireds on web searches (Google, People Finder, Whitepages.com)
6. Take the numbers found and crosscheck them for do-not-call status
This tedious process can take you 10 to 15 minutes for A SINGLE lead and in many cases doesn’t even yield a valid phone number! The time will really start adding up once you start repeating that process for every expired you’re interested in. Let’s be conservative and say there are only 100 expireds happening per month in your MLS. That’s 3.33 new expireds per day. Multiply that by the average time it takes to do the research manually and you’ll spend about 41 minutes a day. Multiply 41 minutes by 20 working days in a month and you’ll come to 13 hours and 52 minutes.
We know your time is worth more than $10 but for the sake of being conservative, let’s say you hire an assistant to do this research for you at this same rate. 13 hours and 52 minutes is roughly $138 bucks a month. Imagine how much bigger that number is if you’re doing it all yourself! With REDX you can get better data brought to you and in only about two to three minutes every morning for $59.99. It’s a no brainer.