Expired listing lead services such as the RedX and LeadSenders provide real estate professionals with a continual slow of leads from which to grow their business. The primary advantage of both services to REALTORS is that they enjoy a first-mover advantage over their competition. Agents that use these lead sending services get notified as soon as the prospective customer comes available. These services then provide users with the information that they will need to quickly make contact with the prospect, begin creating the relationship and finally convert the prospect into a listing or a sale.
Although similar, LeadSenders and the RedX (Real Estate Data Exchange) have some very significant differences. The most significant of which is the timeliness of the service. Where the RedX system provides expired mls listing leads in real time, the LeadSenders system provides information on a daily basis. In contrast, where the RedX software provides a prospect by prospect history, there is no way to easily create visibility on all of the listings that expired six months ago and have not re-listed.
In general, the services provided by the Real Estate Data Exchange are a little more comprehensive than those of LeadSenders. In addition to expired mls listings, the RedX also provides real time FSBO listings from multiple databases. The RedX also scours multiple databases to provide a comprehensive picture of both the expired and fsbo listings which allows the real estate agent to be much more informed when they first make contact.
In addition to those services, the RedX does provide an expanded menu of marketing resources that are not currently available through Lead Senders. These resources include tools to help REALTORS update their websites with the latest lead capture technology. For real estate agents that do not currently have a dedicated website, the RedX even offers a service to provide them with a turnkey solution.
Between the RedX and LeadSenders, both have their own unique benefits. As a result, it is ultimately up to the real estate agent to choose the system that will best fit his or her needs. When evaluating these types of lead generation systems, there are a lot of things to consider. Cost notwithstanding, the caliber of the leads as well as the technology used to identify prospects is one of the most important factors of consideration. If you are a REALTOR that is looking at these two systems, weigh the benefits of both and choose wisely.