RedX Vs Landvoice
In the current market finding a good source of leads is key to your success. Real estate agents have a number of choices on where to invest in sourcing leads and the right selection can make or break a business. After all, with discounted commissions, long short sales and all of the new challenges associated with selling property, a successful agent now needs to close at least 20 deals per year, just to stay in business. As a result, getting the right lead source is key.
Aside from the traditional outbound marketing tactics, two great sources of leads are LandVoice and the Redx (Real Estate Data Exchange.) Both provide both FSBO and expired listing leads, and indeed their histories are intertwined. However, there are some distinct differences that you should be aware of. Landvoice has been in the real estate industry a bit longer than the RedX, but longevity does not necessarily translate to a better product. In fact, the RedX has been rapidly expanding their coverage as well as their product offering over the past two years to provide a better user experience, easier interface and more overall leads. A general comparison of between the two services is as follows:
Landvoice:
This service provides expired mls leads, fsbo leads and pre-foreclosure (Notice of Default) leads to REALTORS on a daily basis. The information provided is scrubbed against the do not call registry and is compared to a few different databases to ensure that the lead is accurate. Their more recent NOD service queries the usual databases, similar to RealtyTrac, to provide an active daily list of pre-foreclosure leads. This system delivers leads once per day which need to be loaded into your own contact management system.
The RedX:
The RedX system provides expired Mls Listing leads and fsbo leads, but queries a few more databases. Each lead is provided in real time to provide a first-mover advantage for the user. As with Landvoice, the leads are scrubbed against the national DNC registry, but are also compared to numerous different databases to pull as much property, ownership and listing information as possible to allow the REALTOR the best possible chance of getting the listing. The service also queries hundreds of different classified websites to locate the day’s FSBO listings, then follows a similar process to match property and ownership information with the contact data on the classified site.
Where the RedX is significantly different than Landvoice, and in my opinion significantly better, is in the accompanying RolDEX software. This is the data exchange’s proprietary lead management software that interfaces directly with the RedX system to provide all leads, listings, and services in real time. Instead of getting a single list of leads each day, the software allows the agent to access the most current leads in real time, as they come available. With this information, the real estate agent can capture the lead and be the first person to contact the lead. It has been well established that an expired will list with the first agent that makes contact after their listing expires. This first-mover advantage is invaluable.
In addition, because the software is inherently designed to help manage leads and move prospects through the sales funnel, the service that is provides is significantly greater than a simple daily communication. This real estate lead management platform not only populates with the most up-to-date leads, but also allows the user to flag, note, schedule, and otherwise fully manage all contacts within the desktop solution. At a glance, the software shows you what leads need immediate contact, which ones need follow up, and which leads need to be sent into a drip marketing funnel. This feature alone makes the RedX solution superior to Landvoice.
Between the two, the philosophy of the is fundamentally different. Landvoice is focused on providing high quality leads through traditional communication channels. The Real Estate Data Exchange is focused on not only providing the lead, but everything else you will need to close the listing quickly and efficiently. Both services have the benefit of a reliable source of qualified listing leads for active real estate professionals. However, the Real Estate Data Exchange simply provides a little more.
Below is an overview of the RolDEX software:
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