Buying or Renting your Leads?

[tikibarrister]

That is the golden idea right there. I've said that for years if someone would make an e-bay for used leads where people could list and sell their own leads it would be a gold-mine. Because it's something of value that there are definitely buyers and sellers out there but no system to put them together.

It's a very attractive idea...but I think abuse and scams would be extraordinarily high. At a minimum the seller should document the legitimacy of the lead - i.e. he's not just typing up names from a phonebook.

 

[Newby]

It's a very attractive idea...but I think abuse and scams would be extraordinarily high. At a minimum the seller should document the legitimacy of the lead - i.e. he's not just typing up names from a phonebook.

I'm assuming it would have to be the actual PDFs of the lead card. That shows the handwriting on the card.

The only real downside is the agents selling leads are not going to give up and lead that looks promising and will load it up with their worst ones and agent killers. But some agents will load everything they have into it if they are getting out of the business or something. So there will be some nuggets in there. Just have to dig deep for them. But that's always been the case with B leads or re-worked leads.

 

[WinoBlues]

I'm assuming it would have to be the actual PDFs of the lead card. That shows the handwriting on the card.

The only real downside is the agents selling leads are not going to give up and lead that looks promising and will load it up with their worst ones and agent killers. But some agents will load everything they have into it if they are getting out of the business or something. So there will be some nuggets in there. Just have to dig deep for them. But that's always been the case with B leads or re-worked leads.

Probably a silly question - What would stop some agent from selling these leads and continuing from working them or reselling them later. Or an IMO selling them as 'B leads. Sounds like you are saying some IMOs maybe doing something similar.

 

[rousemark]

I'm assuming it would have to be the actual PDFs of the lead card. That shows the handwriting on the card.

The only real downside is the agents selling leads are not going to give up and lead that looks promising and will load it up with their worst ones and agent killers. But some agents will load everything they have into it if they are getting out of the business or something. So there will be some nuggets in there. Just have to dig deep for them. But that's always been the case with B leads or re-worked leads.

Yeah.. Would have to buy an agent's old leads and then the seller come back and work them again after I bought them.... Especially if he were trying to replace the business I might have written..

 

[HoosierLife]

The agents that have been telling me about it seemed to have been surprised by it.

If it's in the lead contract they signed and clearly says they will be re-sold then I have no issue with it. Agents can choose to buy them or not based on if that is an important issue for them. But if it's not disclosed that is the only time that it's a problem.

If agents are willing to pay $30 for a lead that will be re-sold on them that's fine. I never would have thought agents would do that. That's the whole point to the thread. To see if that is even a huge issue to agents these days. There are so many new young agents getting into the biz it seems like they just accept things that us older guys would never have put up with.

I'm sure they were surprised. Like when I tell agents who are on a "100%" contract writing FE that they really have a 75-80%.

Well those folks may really be surprised. Uplines can put you at whatever level they want.

But I'm sure they signed something about it upfront. If not, wouldn't it be theft?

 

[rousemark]

I'm sure they were surprised. Like when I tell agents who are on a "100%" contract writing FE that they really have a 75-80%.

How so?

 

[HoosierLife]

How so?

Many IMOs do that. Quote you at a 100% level. But that only applies to certain products. Usually Americo HMS 125 and MoO TLE.

Then the FE products are 10-25% points lower than that.

 

[rousemark]

Many IMOs do that. Quote you at a 100% level. But that only applies to certain products. Usually Americo HMS 125 and MoO TLE.

Then the FE products are 10-25% points lower than that.

OK.. Understand.. Thanks

 

[Newby]

OK.. Understand.. Thanks

It happens when new agents will sign up without getting all the commission grids in writing first. What seems obvious to agents that have been around the block a few times is not even on the radar of newly licensed greenhorns.

They get told "street" or "100%" or "highest commissions in the industry" and fail to get the the commission grids in print and fail to compare. Happens every day.

 

[Newby]

Yeah.. Would have to buy an agent's old leads and then the seller come back and work them again after I bought them.... Especially if he were trying to replace the business I might have written..

That's just stuff you have to assume. That if you buy resold leads that multiple agents are working them. No mystery there. I wouldn't try selling Lincoln Heritage on resold leads.