OpinionIndustry News

To pay for leads or not to pay for leads

Guest perspective: Many pros can't quantify customer acquisition costs

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

I recently returned from the Inman News real estate technology conference in New York City invigorated with a thirst to champion positive change in our slumping industry. It must have been something in the pizza, together with spending three tech-filled days at the Marriott Times Square! The Inman conferences are famous for bringing leading-edge technology providers and real estate practitioners together for a blitzkrieg of fresh ideas, color and characters. One such panel discussion left an indelible impression on me concerning an issue I have been studying as an academic, Realtor and technology marketer for some time now: What is the cost of real estate leads, and how much do we pay for them? At a session entitled, "Leads: How to Find Qualified Home Buyers in a Changing Market," I was amazed when I heard the moderator ask the panel if they thought Realtors should pay for leads. The question seems rhetorical at first glance, but it speaks volumes regarding both real estate agents' b...