Posted by TRandle on February 27, 2002 at 08:28:18:
I don’t think you’ll find anyone willing to pay for a lead. I could be wrong and I haven’t tried it myself, but I know I wouldn’t pay much.
The problem I see with charging is that you would have to be intimately familiar with each state to justify your decision. For example, if you were to send me a lead for my state and want to charge me for the lead, it could be as much as 12 hours away from me. In my book that’s not a lead.
I send out on average 5 out-of-my-area leads a week. Some of the leads are obviously unmotivated and some are obviously slam dunks. On rare occasion I hear back from someone who actually put the deal together and I may receive a $500 referral check, which is what I pay for referrals as well.
I have yet to come up with a fair way to benefit from the referrals. I would guess that I’ve sent out 300 to 400 leads in the last two years. Once I receive permission from the seller, I just forward the info on to folks for that state. If I don’t have anyone listed for a particular state, then I usually post the lead here.
My hope is that although I don’t really receive anything in return (typically), at least I should be in the other investors’ minds when they hear about a Texas lead.