What would be a fair deal?

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Not to go into too much detail as to how I was found by this guy, but somehow through Facebook a friend of friend and so on and so forth reached out to me through a friend of a friend and so on and so forth and tells me he started selling FE in November 2017, worked aged leads the first two months, and then he started getting fresh DM leads the beginning of January.

He left the business in June, and he says he has about 365 DM leads that were mailed on his behalf that he has never reached on the phone or met face to face (he says he was not a door knocker, so if there was no phone # or if the lead wouldn't answer the phone, or answered the phone but refused an appointment, this agent put that lead aside.

He asked me if I'd like to take a look at them to see if I would take them off his hands. He mentioned no price, and neither did I. These are right in my area - all of them in my two main counties from the sound of it. I am meeting him later tonight to look at the leads. He says he has them printed out, and that he can email me an excel spreadsheet that would have all the leads he received minus those to whom he sold policies.

Let's assume these are legit DM leads, anywhere from 2 to 8 months old. Lets also assume that he has not worked them, or under-worked them as well. I get that this could all be a scam (though the social network path by which he reached me seems legit to me), but for the purpose of this thread, help me out by assuming these are on the up and up.

Any advice as to what a fair price might be for such leads? Again, he says there are 365 leads, all DM, and all were returned between January 2018 and June of 2018.
 
Find out what efes sells this particular inventory for and go a little lower.
But I would question whether they were unworked, I'd price them as worked.
 
I would not pay more than $2 for each lead personally. Or if he's still licensed I might offer a commission split to take them for free. Give him 10% of anything I sell from them, but that's a complicated process for someone I don't know

Maybe 10% would even be high... that's $60 on an average $600 sale... at that point you would be paying double on a $30 fixed lead...

The split would be the way to go... I might just offer a little less than 10% and only on first yr. or flat per new client.

Any way you look at it, it might be a good deal. :yes:
 
As I read your post 4 things strike me. If you are able to establish some type of "base price" for the purchase of DM leads, 3 would be mark downs and 1 would be a mark up.

If the leads came from a different mail house than the one you use, you may have already received leads for some of those names from your mail house.

I think that any of the leads before May, and maybe before June, should have some reduction in value for age.

Since the leads have been "cherry picked", ie the easily reachable provided phone numbers have been interviewed, the "mixture" of leads is no longer representative of what an agent would expect in a fresh mailing.

Those things would represent a value reduction in the information.

On the other hand, if these names are in "your territory", any of them you have not already received from your mail service represent an opportunity for sales interviews in "your territory" before some other mail service provides those names to yet another agent.

That might offset some level of value reduction in "the lot".

Best wishes for the negotiation.
 
So he gave them to me no strings attached. He had been an engineering executive at a big fortune 100or 500 firm here in the valley and was laid off a couple of years ago when he was 54. Selling FE was a desperation play for him as he was unable to find a job in his field and he was spending down his retirement accounts without a job.

It sounds as though he was doing well enough selling FE to make a good living, but his heart was not in it. In May, an old connection reached out to him and he landed a new engineering position, so he was immediately done with FE (“I really do not like dealing with those people,” he said at one point, waving his hand over the stack of leads as though shooing away a fly or waving off a smelly odor).

As I said, he found me through a friend of a friend, and thought maybe I’d like to work the leads, “rather than have them go to waste.”

I have gone through them. I had sold policies to 8 of them in the past already, and another 23 are serial responders from whom I have already got a card or two back myself. I will enter them into my CRM tomorrow to weed out any other duplicates.

Right now it looks like I just got about 334 free aged leads to door knock. He did let me pay for the coffee, however.
 
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Depending on if I believed they were mostly not worked, Where they are and if I thought he
So he gave them to me no strings attached. He had been an engineering executive at a big fortune 100or 500 firm here in the valley and was laid off a couple of years ago when he was 54. Selling FE was a desperation play for him as he was unable to find a job in his field and he was spending down his retirement accounts without a job.

It sounds as though he was doing well enough selling FE to make a good living, but his heart was not in it. In May, an old connection reached out to him and he landed a new engineering position, so he was immediately done with FE (“I really do not like dealing with those people,” he said at one point, waving his hand over the stack of leads as though shooing away a fly or waving off a smelly odor).

As I said, he found me through a friend of a friend, and thought maybe I’d like to work the leads, “rather than have them go to waste.”

I have gone through them. , and another 23 are serial responders from whom I have already got a card or two back myself. I will enter them into my CRM tomorrow to weed out any other duplicates.

Right now it looks like I just got about 334 free aged leads to door knock. He did let me pay for the coffee, however.

A Nice bottle of wine now. and maybe another after you close another deal or two. He could possibly be good for one or two cases that could be worth more than all of those leads.

Dude, you may be sitting on a new center of influence. All for a couple hundred dollars of wine that his leads paid for.
 
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