Zillow Premier Agent Reviews

Are Leads Worth Paying For?

Have you been wondering about what your return on investment would be from the Zillow Premier Agent program? Is it worth your time, money, and effort?

Maybe.

Zillow Premier Agents are only going to see that sort of return if they possess three particular traits critical to success.

What Does Zillow Premier Agent Cost?

The cost of Zillow Premier Agent is determined by two major factors: The average home price in your chosen zip code and the number of other agents competing for space.

Using Zillow Premier’s cost estimator for Michigan, for example, we found monthly ad budgets ranging from just shy of $150 to close to $1,000.

If the average home price is high, Zillow charges more (since the expected GCI is higher.) As interest from real estate professionals in a zip code grows, so does the cost.

We used one of Zillow’s tools for helping agents determine where they want to advertise and how much they want to spend. The table below outlines what various budgets would be necessary to acquire five monthly leads in five different communities in the state of Michigan.

If this is still feeling a little confusing, try thinking about the Uber model. If it is 1:30 AM on a Wednesday and nobody is looking for an Uber, you won’t have much competition from other riders, so your costs will be low. But, if the Macy’s Thanksgiving Day Parade just let out and it’s raining, you are going to have LOTS of competition, so prices are going to be much higher.

3 Essential Traits Successful Premier Agents Need To Convert Zillow Leads

The Zillow Premier Agent program clearly delivers a lot of benefits to its users. But, not everyone is going to be successful with ZPA.

Remember earlier, when we said that in order to succeed, you needed to have the three traits critical to Zillow success? Let’s dive into those right now.

Critical Mass Budget

Unfortunately, while there is no real ceiling to investing in the Zillow Premier Agent platform, there is definitely a floor.

Depending on where you are looking to advertise, the average home price, and the agent activity, there is a minimum amount that you can spend, and even that minimum amount might not get you the results you want.

It all comes back to the expected lead volume for what your budget will afford you. For instance, let’s say you can only afford an expected one lead a month in your preferred zip code. If you are only receiving 12 leads a year and your expected conversion rate is 5%, it is questionable whether or not you will close a sale from Zillow.

That being said, because of the flexibility of the Zillow pricing model, there is usually a way around this roadblock!

Try building your Zillow business in a different zip code first, one with some lower prices and less realtor demand. Your GCI may not be quite as high, but as long as your ROI is positive, you can take the cash flow from this new area and use it to continue to build, or save it until you have enough to wade into the waters of the more expensive area.

For example, in the Northern Michigan town of Traverse City, it takes an estimated $743 per month to acquire five leads in the zip code 49686. However, in the neighboring zip code of 49696, five leads would take only $672.

Excellent Follow Up Skills

We are in a new age of customer service, and the cornerstone of that new age is stamped with the words “ON DEMAND.”

In a world of AI chatbots, where cellphones are always on, and email is always within arm’s reach, most real estate professionals are trying to return calls and messages within the hour, the best are talking to clients within five minutes of their inquiry.

Here are some strategies you can use to make sure your follow up is top notch.

Use Zillow’s Live Leads Feature To Connect Immediately

Zillow has embraced this culture of immediacy with their new LIVE LEADS feature, connecting potential buyers or sellers in some markets directly with Premier Agents over the phone, taking out the pesky communication in between.

For busy agents who can’t always answer the phone, companies like Ruby Receptionist provide virtual assistance to agents. Sure, there’s a cost to this (Ruby Receptionist has plans for as little as $10 per day), but if you build that cost into the requirements of success for the platform, it can be a viable option.

Have a Solid Email and Text Response Plan For Each Of Your Zillow Leads

Many of your Zillow leads are going to contact you via email and text. If you happen to be with another client or simply can’t respond right away on the phone, there are lots of automated email and text options through some great real estate focused CRMs. Tools like FollowUpBoss and GoHighLevel offer a way to get back to those leads right away with pre-prepared email responses and even automated texting services.

These services let your prospective clients know that you and your team value them and will be in contact soon, even when your focus is elsewhere.

Have A Long Term Lead Nurture Plan Ready for Colder Leads

You’ve worked hard for your leads, you’ve paid good money for them, are you just going to discard them if they aren’t ready to buy or sell immediately? Definitely not.

Zillow Alternatives

Zillow isn’t the only game in town when it comes to lead generation. If you’re wanting to try something different, consider one of the following:

• DSCRIBE — Dscribe allows you to launch Facebook ads with two clicks, you just select whether you want buyer leads or seller leads.

And after that you confirm the budget, the ad copy and the location, and then launch your Facebook ad, it really is that simple. The back-end is already taken care of. The audiences, the placements, the creation of the lead form, everything is already done for you. You don’t have to do anything outside of those two clicks.

Click here to get a 7-day free trial (no credit card required) — https://bit.ly/dscribe

• Vulcan7 — Real estate prospecting is different from real estate lead generation, but they aim to achieve the same thing:

More clients and more closed sales. REDX gives you the tools to reach out to potential sellers proactively rather than trying to entice them to reach out to you.

Click here to sign up — https://www.vulcan7.com/sales/

Zillow works great for some agents, if you don’t have that kind of budget I’d recommend using DSCRIBE and do it yourself. It does all the heavy lifting for us.

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