This is the latest in a series of 'Buyer's Guides' that feature questions to ask and options to consider before making a new purchase. See our previous guides to purchasing a CMA, CRM, Document and Transaction Management, Electronic Signature, Ad Network, IDX/VOW, iPad App, and Back Office Solution.

What are Lead Generation Solutions?

Finding new business is a challenge in every industry. The good news is that technology has made acquiring new buyers and sellers a bit easier for real estate professionals. This technology goes about generating leads a variety of different ways and can vary a great deal in effectiveness. That's why it's especially important to do your research, and know the questions to ask technology vendors.

Questions to Ask

There are some important questions to ask when buying any real estate technology product and some that are unique to choosing a lead generation product.

First, let's look at general questions you'll want to ask.

• What are my objectives for this piece of technology and will this product help me achieve those objectives?
• What is my budget?
• What kind of customer service and training programs are available? Are there webinars and, if so, are they recorded so you can view them at any time? Is the vendor's online help sufficient?

After you've asked and answered these questions, you can get down to the lead generation-specific questions:

• Will the leads I'm given be exclusive to me?
• Where are these leads coming from?
• How "hot" are these leads?
• Are they buyer or seller leads?
• What information will I be given? Phone number? Address? Email address? Property search details?
• If I use a product for lead management and routing, is this lead generation technology compatible?
• How many leads should I expect?
• What is the average cost per lead?
• How long is the term of agreement?
• Do I get any special pricing because I am a REALTOR®, because of my brokerage, franchise, network, or MLS participation?

Your Options

For more information on these options, download our 2013 Technology Guide.

• BuyerMLS: This tool allows listing agents to search for missed opportunities and enables buyers to view homes that are not listed on the MLS.
• eProperty Extra: Maintain relationships with clients by offering valuable information to help save them money. eProperty Extra delivers emails to your email list with daily or seasonal offers, and loyalty rewards. It is free for the agent and the consumer.
• HomesConnect: This powerful tool from Homes.com consolidates functions such as marketing, lead management, and more into a single platform.

Next Steps

• Download the 2013 Technology Guide
• Read articles about lead generation
• Visit the lead generation section of our product directory
• Ask your broker, MLS, or Association
• Contact the vendors above