I buy leads from various lead sellers to supplement my own advertising and BMV operation.
Recently i have become quite annoyed with missleading information provided in the leads. Now i dont know if this is on the part of the lead sellers or put into websites by potential leads.
I have purchased 3 recently, 1 of which was apparantly qualified and the seller told me outright that she hadn't given the stated info, another lead stated said yes to BMV and when i called the vendor he said again, outright that he wanted full market value for the property and hadnt said this in the form!
Best of all, one lead i bought was a lead readily available on RM and through an auction house - it was an un-sold lot!!
I totally realise that this is a numbers game and this is what i reply to people when they are having a 'moan' about lead sellers!
I wouldnt mind paying the money and working on percentages if the info supplied was correct - I could accept it then!
ahhh, thats better!

Hi,

Am I missing something here, I have never bought a lead but occasionally look at them. Just looked now and saw 2 leads

first one

MV 180k
Will you except BMV offer NO
what is the minimum you would accept 180k

?????????

second one

MV 80k
outstanding mortgage 80K
maybe accept BMV offer

????????

I do not understand why anybody would waste their time posting theses "leads" up in the first place.

Am I missing something?

As a newbie I queried this on another thread. Basically, I couldn't understand the concept of something being a 'lead' when it states that the vendor won't accept BMV. I am also a little suspicious when the answer to the question as to whether the vendor will accept BMV is 'maybe'. In both these cases these 'leads' don't seem to be much different to anything you can find from an EA. After all most people will sell their property slightly below their asking price so it seems to be that virtually any vendor with their house up for sale with an EA may answer 'maybe' to a BMV question.

What some people said who replied, and I am in agreement with, is that there is a wide variety of quality on offer in leads. Soms will qualify the lead to ensure that there is sufficient information.

I wouldn't bother with a lead that doesn't have a reasonable amount of information - but these are good ones available and a quick look around will probably reveal quite quickly the lead sellers who carry out some form of qualification. As people say it is a numbers game, but I don't want to pay for leads that are not better than you can get from an EA.

Keith

I recently bought 2 leads. The vendors are actually marking up the properties a lot more than what the prices really are. Do you tell them what is worth or do you just enlist the services of a surveyor?

Think you are better off spending the lead monies to make leaflets and publicity materials to generate your own leads. I am not sure it is the lead sellers is the problem. It is the people who are putting the info on the sites. Somehow they dont know that we have access to information about the true value of their properties. It needs to be explained in clear words what BMV means and basically "Purchase of a property 15-35% or even more below market value so it is understood.

It is a numbers game.

Just like only 6/7 out of 10 leaflet generated phone calls are worth pursuing. Likely 1 out of 10 is a deal through to completion.

Stop worrying about individual leads.

Just buy 10 or set a 1k budget and then you will have something to analyse.

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I have to say I agree with you guys about quality of 'leads'. I paid £200 for a 'qualified' lead from one seller (not from this site) only to find out afterwards that it was what they called 'internet qualified'. Which basically means they have not contacted the vendor at all and just taken their word for it from a form filled in.
When I called the vendor he stated that he wanted full asking price! Then I contacted the lead seller and was told-quite rudely- that I should have read their terms and conditions and was point blank refused any refund. I won't mention any names here, but suffice to say that he considers himself to be ethical! He also generates a LOT of so called 'leads' and flogs them accross many forums-as do many others.
In my opinion you have to choose your lead generators very carefully, contact them personally before you buy any leads, check their system from a 'vendor' point of view and make sure you understand what THEY mean by 'qualified'. As it appears to mean many different things to different lead generators.Very time consuming and frustrating.
I have only come across three sites/ sellers who I feel are worth bothering with. The rest are just a bunch of sharks that are in it for the money-at whatever cost to you.
Be careful everyone or you too will get burned by those willing to take advantage-particularly those of you who are new to lead purchasing or the BMV concept in general-as many are who use this forum.
I personally spend a lot of time with new investors and those who are learning about property, and Im disgusted that so many people are willing to rip them off.This trade will start to get a very bad name soon, and then it will be spoiled for everyone, which IMHO would be very sad.
OK rant over!
Roberta

I totally sympathize with what you guys say. I've been burned many times.. So for new buyers...please be very careful and make sure you read the so called "terms and conditions".

My new site............

They will be all qualified, by that I mean me or one of my staff will have done all DD possible, if it's a NMD we will explain how, if you like you don't need to do anything, except supply NI and proof of id etc.

We would control it all, of course we would need a fee.

BUT BUT .................................................. ...........

Buying a lead is the easy way out, I will sell leads and manage the rental etc, solicitors, valuation, refurb etc etc etc.

But this wont teach how to get financial freedom, I have many people that pay me a retainer for info etc not that I need this.

Any potential please post on here and I'll post my opinion,,, remember it's my opinion, if you want me to "hold your hand" pm me.

If you dont post on here FIRST

So, Sofie, will you be launching your site soon and will you have leads from all over the UK?

Would be interested in Essex, Kent, Herts, London.

Have a good Sunday!

Heather

Why do you need "except supply NI and proof of id etc"

Also how will you be sourcing the leads and what will the qualification process involve, is there a guarantee?

If the leads were that good...I'd be charging a finders fee not 100 quid...!!!

It's like anything though I agree...it's a numbers game the more deals you look at the more your likely to convert.