Has anyone tried this marketing company? it is called 1800NOAGENT and they charge 2500/month just for you to be licensed to use their stuff. Anyone know anyone who is using it.
sounds like they "eliminate" the agent, but the monthly fee sounds outragoues. Maybe a flat fee, but 2500 a month, jeeze. better have mls service, but sounds like u might as well pay the 6% for a agent, u will have to atleast give 2.5 to any buyer agent
First the idea of getting sellers to call you prior to an agent is a good thing, however, unless you’re willing to do the marketing necessary to attract the sellers they wont know you’re there to call.
These guys called me awhile back to try and get me on board. I decided it was just not worth the money. The only advantages I saw were that you get to use the 1-800-NO-AGENT phone number and you got to use their already produced (and possibly tested) TV commercials.
I think they are hoping to brand 1-800-NO-AGENT in which case you would be tapping into their name equity. At the time I was in UT and NO AGENT was not a "household" name there.
The number is memorable and communicates a benefit. Commercials can be pricey and having them already made is nice. All in all though, it was not at all worth paying $2500/month for these benefits.
That was several months ago, but that was my assessment at the time.
You can get your own vanity number and set up a system using other media that will work as well and for less money in my opinion.
A quote from the news story: "We checked into the case and found out that 1-800-No-Agent was a RAK Properties company. It was incorporated by a man whose name was in Oklahoma headlines in the early nineties. This man was Leo Kingston.
Kingston was a state senator when he was caught illegally buying HUD properties and renting them out. The government claimed Kingston did not make payments on the properties causing HUD, using taxpayer money, to pay off the mortgages when the properties went into foreclosure.
Leo Kingston was found guilty of fraud and sentenced to federal prison and so was his wife Paulette. She is the one now seen in the commercials for 1-800-No-Agent or RAK properties."
This article implies that RAK properties and 1-800-No-Agent are both owned and operated by the Kingstons.
BEWARE!
Good eye! I read it and looking for a part that showed that they were owned by RAK, but I must of skimmed over that part. Well that right there shows 1800noagent to be a company to avoid. Glad I could help out there. BTW, the 1800noagent jingle is very irritating and listening to those commercials alone would make me avoid the company. LOL
Actually, 1800NOAGENT is not owned by the guys out of Oklahoma City. He just licensed the phone number for Oklahoma City. Might want to check your facts before you post stuff like that.
So far this month (less than two weeks into it) I have sold 3-4 properties, bought 2 have a closing date on 2 more by the end of the month, have 10 SS I am working and a couple listed.
I am looking to triple that in the next year and advertising on tv etc is probably the only t hing that will get me there..
I am currently getting estimates to create 5 television adds etc. and have a marketing consultant hired.
At 43 I am unwilling to wait for normal appreciation in the market place, I need to "drive" more business to me!
[addsig]
If you do the marketing the 1 800 no agent concept is flawless. Problem is very few will spend enough to make it work. It takes 30K to 50k monthly to get enough saturation in a medium to large market. The right amount of marketing returns 5 to 6 times that amount in profits if you have the cash and team to support it. The $2500 a month is trivial compared to what you must spend on advertising.
I dont know about you guys but for 2500 dollars, i can have 3 or 4 farm areas, hit face to face with door knocking. Face to face contact is the best method, and i think that will be the best use of your money.
The web is the new wave in real estate. In the real estate office I work in, 43% of our business comes in from the web. We run double page ad every Sunday, response 1 call a week. Most of the balance is riders, referrals, and prior clients. So use that web!
800 numbers can also be a good way to trap leads, you will need one that can ask questions to the callers so you can prescreen them. alot of people dont have the internet and will not go to the library to find out more about you. alot more people have telephones and will have a 24 hour information hotline.
Try and track your results. I like 800 numbers because they will send your messages to your email and you can listen to them through your real player. Very cool.
Just ask yourself if your target audience has better access to a phone or a computer.
We have a tremendous response to internet service but it is with the middle to upper price ranges.
Webuyhouses15,
You can try www.freedomvoicemail.com. They have the Q&A feature. That will allow you to prescreen your caller. Its a really neat feature. Also it helps for out-of-towners to call you without using their long distance. That how i got one of my best deals before they competition. It also has a feature that allows people to send faxes to your 800 number. The highest package is 29.99. Explore it and have a good time.
sounds like they "eliminate" the agent, but the monthly fee sounds outragoues. Maybe a flat fee, but 2500 a month, jeeze. better have mls service, but sounds like u might as well pay the 6% for a agent, u will have to atleast give 2.5 to any buyer agent
I think the concept has some validity and flaws..
First the idea of getting sellers to call you prior to an agent is a good thing, however, unless you’re willing to do the marketing necessary to attract the sellers they wont know you’re there to call.
And lets face it 2500.00 is nothing if it works
browndogproperties,
These guys called me awhile back to try and get me on board. I decided it was just not worth the money. The only advantages I saw were that you get to use the 1-800-NO-AGENT phone number and you got to use their already produced (and possibly tested) TV commercials.
I think they are hoping to brand 1-800-NO-AGENT in which case you would be tapping into their name equity. At the time I was in UT and NO AGENT was not a "household" name there.
The number is memorable and communicates a benefit. Commercials can be pricey and having them already made is nice. All in all though, it was not at all worth paying $2500/month for these benefits.
That was several months ago, but that was my assessment at the time.
You can get your own vanity number and set up a system using other media that will work as well and for less money in my opinion.
To your success,
Jason Van Orden
Thanks for the post. This business is too easy to do legally why do it illegally?
A quote from the news story: "We checked into the case and found out that 1-800-No-Agent was a RAK Properties company. It was incorporated by a man whose name was in Oklahoma headlines in the early nineties. This man was Leo Kingston.
Kingston was a state senator when he was caught illegally buying HUD properties and renting them out. The government claimed Kingston did not make payments on the properties causing HUD, using taxpayer money, to pay off the mortgages when the properties went into foreclosure.
Leo Kingston was found guilty of fraud and sentenced to federal prison and so was his wife Paulette. She is the one now seen in the commercials for 1-800-No-Agent or RAK properties."
This article implies that RAK properties and 1-800-No-Agent are both owned and operated by the Kingstons.
BEWARE!
Bargain,
Good eye! I read it and looking for a part that showed that they were owned by RAK, but I must of skimmed over that part. Well that right there shows 1800noagent to be a company to avoid. Glad I could help out there. BTW, the 1800noagent jingle is very irritating and listening to those commercials alone would make me avoid the company. LOL
Actually, 1800NOAGENT is not owned by the guys out of Oklahoma City. He just licensed the phone number for Oklahoma City. Might want to check your facts before you post stuff like that.
800 No Agent is owned by Bart Trow and these people were just the licensees.
[addsig]
I wish my marketing only cost $2500 a month....
So far this month (less than two weeks into it) I have sold 3-4 properties, bought 2 have a closing date on 2 more by the end of the month, have 10 SS I am working and a couple listed.
I am looking to triple that in the next year and advertising on tv etc is probably the only t hing that will get me there..
I am currently getting estimates to create 5 television adds etc. and have a marketing consultant hired.
At 43 I am unwilling to wait for normal appreciation in the market place, I need to "drive" more business to me!
[addsig]
As VP of the loacal REIA I frequently see CA investors here in SL. They make up less than 2% of attendance however.
The market here is warming up, other than Homyvestors (1) no one is real serious about their marketing I think..
Mostly a lot of the low dollar direct mail and some bandit action in the warmer months.
Buy and hold should be good if the market continues to rise, though SL has had a turbulent past.
I like to capture equity at the outset....
[addsig]
My belief is that a good marketing campaign will allow you to do exactly that...
I could tell during our telephone conversation that you had what it takes to make some series money in REIing....
Good luck
[addsig]
Thank You,
I have enjoyed the business immensely and look forward to doing it with great effect and moving from 50 to 100+ transactions.
I am always learning and to me that is what matters the most....
[addsig]
If you do the marketing the 1 800 no agent concept is flawless. Problem is very few will spend enough to make it work. It takes 30K to 50k monthly to get enough saturation in a medium to large market. The right amount of marketing returns 5 to 6 times that amount in profits if you have the cash and team to support it. The $2500 a month is trivial compared to what you must spend on advertising.
I dont know about you guys but for 2500 dollars, i can have 3 or 4 farm areas, hit face to face with door knocking. Face to face contact is the best method, and i think that will be the best use of your money.
You can read about my 1-800 no agent experience here:
http://www.thecreativeinvestor.com/residential/modules.php?op=modload&name=Forum&file=viewtopic&topic=53736&forum=30
The web is the new wave in real estate. In the real estate office I work in, 43% of our business comes in from the web. We run double page ad every Sunday, response 1 call a week. Most of the balance is riders, referrals, and prior clients. So use that web!
Chris
800 numbers can also be a good way to trap leads, you will need one that can ask questions to the callers so you can prescreen them. alot of people dont have the internet and will not go to the library to find out more about you. alot more people have telephones and will have a 24 hour information hotline.
Try and track your results. I like 800 numbers because they will send your messages to your email and you can listen to them through your real player. Very cool.
Just ask yourself if your target audience has better access to a phone or a computer.
We have a tremendous response to internet service but it is with the middle to upper price ranges.
Jim
Webuyhouses15,
You can try www.freedomvoicemail.com. They have the Q&A feature. That will allow you to prescreen your caller. Its a really neat feature. Also it helps for out-of-towners to call you without using their long distance. That how i got one of my best deals before they competition. It also has a feature that allows people to send faxes to your 800 number. The highest package is 29.99. Explore it and have a good time.