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The Best Pay at Closing Real Estate Leads Options (& Alternatives)

Jerry Norton

Jan 31, 2024

Getting real estate leads is the most crucial and most challenging aspect of being a real estate agent. 

It’s not just about getting leads, either — a profitable deal hinges upon whether or not that lead is obtained for an affordable price. 

That’s where pay at closing real estate leads come in. 

In this article, we’ll break down everything you need to know about pay at closing leads, including cheaper alternatives, to help you as a real estate agent find leads for the right price. 

What is Pay At Closing Real Estate Leads?

Pay-at-closing real estate leads are typically high-quality leads without an upfront investment. 

A real estate agent will pay for the lead only when the lead has closed. 

Since these are warm leads of prequalified buyers or sellers who have already expressed interest in making a transaction, they have a much higher chance of closing.

Pay at closing real estate leads come with its own advantages and disadvantages, both of which we’ll explore next. 

Advantages of Pay at Closing Leads

No Upfront Fee

With pay-at-closing leads, you don’t have to pay upfront. 

Think of it as a referral fee where you only pay if something sells, which in this case is when a property closes.

No Legwork

You don’t have to knock on doors, cold call, or email to gather your leads.

Targeted Leads

The leads are targeted to your location and demographic of choice.

Disadvantages of Pay at Closing Leads 

Expensive 

At 25% to 50% of your commission, pay-at-closing leads can be a lot more expensive than other lead-generating choices.

Repeat Commissions

The company from which you buy pay-at-closing leads may charge you a commission if the same customer buys another property through you.

Pay at Closing Lead Options 

There are many options to choose from when it comes to pay-at-closing lead options. These include:

Zillow Flex

You Need: Invite from Zillow and a high customer service and conversion rate.

Your cost: 15% to 40% commission.

This option only works for those who are already Zillow Premier Agents because you have to be invited to join, and Zillow will only invite their own premier agents. 

They base the invite on your customer satisfaction and conversion rates and offer a partnership with Zillow which is a plus. 

The downside is that this option is not available to everyone.

Clever

You need: 5 or more years of experience, excellent reviews, and great negotiating skills

Your cost: Up to $350K at closings; Flat fee of $3000. 

To get into the Clever program you need over 5 or more years of experience with excellent reviews, winning negotiating skills, and a high level of market knowledge. 

This makes Clever a great choice for experienced real estate agents. 

The company is very straightforward and transparent. 

The only downside is you have to consistently get great reviews or you won’t get the leads anymore.

Rocket Homes

You Need: A proven track record, 2 years of experience and 8 transactions

Your cost: Either 1% of the home’s estimated value or 25%

If you’re a pre-qualified buyer with a proven track record of high conversions, Rocket Homes is a great option. 

They offer transparency in high-value and pre qualified leads. 

To qualify for this program, you need 2 years of experience with at least 8 transactions that closed in the past 12 months. 

It can be hard to stay in the program because you have to maintain a review rating of 4.5.

AgentPronto

You Need: Flexibility.

Your cost: 25% to 35% commission

AgentPronto is one of the easiest to use but the leads are not as vetted or targeted. 

This is a super option for those who need flexibility. 

Operating kind of like a dating site, the leads appear in a separate text message, where you can either accept or skip. 

Upnest

You need: Be tech-savvy, 3 years of experience, and 6 transactions.

Your cost: 30% commission

Upnest is a perfect choice for the tech-savvy with at least 3 years of experience and 6 transactions in the past 12 months. 

The platform is user-friendly but if you don’t keep up the required number of transactions, you’ll be disqualified from receiving leads. 

Alternatives to Pay at Closing Lead Options 

There are alternatives to pay at closing lead options, some of which are cheaper and more efficient. 

These include: 

Propwire: 

Using Propwire’s database, you can source leads more than 20 lead types, including:

A skip trace option is embedded into the database, you can find phone numbers and emails to homeowners directly for just 10 cents per skip trace — a far cheaper alternative to many of today’s top pay at closing lead options. 

Bird Dogs

Bird Dogs are people who go out and canvas neighborhoods looking for distressed properties. 

As far as cost, there is a fee to hire a bird dog, either a flat-fee or pay per lead.

Classifieds

Sites such as Craigslist and Facebook Marketplace allow users to post ads for real estate. There isn’t a fee, but you must post regularly to keep your ad at the top of the listings.

Friends, Family, and Networking

Contacting friends and family and asking them to let you know if they’re selling or buying is an excellent way to cast a wide net of personal referrals. 

It’s mostly free unless you buy someone a dinner or drink to introduce you to someone.

Pay At Closing Real Estate Leads: FAQs 

Q. What is the lead-to-close rate? 

The lead-to-close rate is a way to measure the number of sales you’ve closed from the number of leads you’ve used.

Q. How do you calculate lead-close rate? 

To calculate your lead close rate divide the deals you’ve closed by the number of leads you’ve worked, then multiply by 100. 

If you’re looking for a daily rate, make sure to use the same day for closes as you do for leads you’ve worked.

If you’re looking for your weekly, monthly, or yearly rate, use the same date range for both metrics.

Q. What is the average lead-to-close rate in real estate? 

The average lead-to-close rate in real estate is between 4% and 1.2%.

The Bottom Line: Pay at Closing Leads

Everyone knows the best way to close many real estate deals is to work off of a high-quality list of leads. 

Off-market properties can be hard to find, but if you use pay-at-closing leads, you can offset upfront costs. 

However, it can be more expensive than using sites such as Propwire to pull your own lists. 

If you’re looking for your next real estate deal, try Propwire’s tools today!