When you are looking for providers that do the lead generation for you, you might come across the software solution called “Offrs”.
Offrs will likely give you a positive marketing return on investment provided you take advantage of all the different features they include in the different apps you can install in the dashboard.
This article will review Offrs with a stronger focus on marketing performance.
You will learn what it is, about the costs, the pros and cons, alternatives, and get a walkthrough of the different features.
So, please keep reading.
What is Offrs?
Offrs is a software platform that works with an algorithm that can predict the likelihood of sellers wanting to put their houses on the market within 12 months.
The leads are delivered on a daily basis.
Among others, these are FSBO leads and expired listing leads.
But the lead generation is not only limited to sellers. Offrs also delivers buyer leads.
The algorithm works in a way that can identify homeowners that have engaged with different real estate websites.
Searching and Finding Offrs’s Features
At first, it is a bit confusing to know what is actually a feature of Offrs and what is a completely separate product.
When you browse through their website, you will find the top menu item option of “For Agents”, and “For Brokers”.
Usually, you would assume that you would find the different categories of the features there, but that’s not always the case.
In the “For Agents” section, you will find the “Listing Leads”, “AgentByZip.com”, and “Smart Apps” products.
For example, “AgentByZip.com” will lead you to an external website that doesn’t seem to be part of Offrs, but is, of course, part of the head company “Constellation Real Estate Group”.
So, directly part of Offrs would be only “Listing Leads” and “Smart Apps”.
This is much more so the case in the “For Brokers” section.
The only product that is directly part of Offrs is “SmartBroker”.
The remaining ones such as “AgentAccess”, “SmartZip.com”, and “Reach150.com” all lead to external websites where at first glance, the user can’t be sure if it is part of Offrs or not.
It only becomes clear when you have access to these other software products once you create an account and find the “Smart Apps” section.
Via this section, you will get access to most of the functionality of the other software products that are part of the Constellation Real Estate Group.
To make it less confusing for users, I would have tried to integrate the functionality of the external software products as own features of Offrs, or at least I would have improved the communication on the website so this becomes clear.
Getting rid of the top menu options that link to external websites might also be of help.
To bring a bit more structure into this, the products that are directly part of Offrs for real estate agents are “Listing Leads” and “Smart Apps”.
For real estate brokers, it is “SmartBroker”.
Offrs Features Walk-Through
To help you understand how the Offrs features work, I created an account and will provide you with a walk-through of the platform.
When you first log in, you will get to the main dashboard.
From there, you can click on “Go to the map” to lock down a particular territory.
This is the territory you indicated with your zip code when creating your account.
You can, of course, change this zip code afterward and select another territory.
To get access to the territory, you will need to add it to the shopping cart and buy it.
The territory I chose costs $266.60 per month.
The next option you have is to book a demo, which is a 30-minute phone consultation.
During this consultation, you can learn how listings are generated by Offrs’s smart data and predictive analytics.
When you click on the “Dashboard” top menu item, you can select the “Marketing Dashboard” that looks like this:
Depending on the territory you bought before, you will get an overview of the different leads that were generated.
The lead sources are the following:
- Smart Leads (generated from the predictive algorithm)
- Facebook Leads (from Facebook campaigns of home valuation options)
- Lookup Leads (leads that visited your home valuation page, needs the Smart Sites app)
- 3rd Party Leads (leads that browsed other real estate websites)
- Expired Listing Leads (complementary leads provided)
- FSBO Leads (complementary leads provided)
In this overview, you can also find other marketing performance data such as total touches, number of clicks, total engaged, total opportunities, the percentage of the predictive accuracy, and a summary of all outbound marketing.
The next top menu item is “Smart Farm”. When clicking on it, it looks like this:
This is where you can find the different leads that are tagged automatically by the lead source.
You can also get to this section by clicking on the different lead type boxes below so it is a bit redundant.
It will look like this (mine is empty because I didn’t buy a territory):
In the below, video you will see how this section looks once it’s filled up with leads.
There, you can filter the different results by the criteria you select on the left side bar.
When you then click on a lead’s name, you can find more in-depth information.
The next section is “Smart Apps”, when you click on the respective top-menu item.
Only now it becomes clear how Offrs implements the functionality of other software products of the Constellation Real Estate Group. Or so I thought.
You will not stay within the Offrs platform with all the apps and can install them on the platform, there are many that are basically just links to external software pages.
These are the 20 apps available:
- Launch app (a collection of help videos)
- Territory builder: You can select an area to download homeowner information.
- AgentByZip.com (to be featured when buyers and sellers are looking for agents, monthly price undisclosed)
- Seller Signal Leads: leads from potential sellers that engage with a real estate related website ($50 per month)
- Buyer Signal Leads: generated leads from potential buyers that engage with a real estate related website ($50 per month)
- FSBO Leads from one or more zip codes ($50 per month)
- Agent Access: access to Offrs’s agent database (no information about pricing)
- Expired Listing Leads ($50 per month)
- Foreclosure Leads ($50 per month)
- Loan Leads ($50 per month)
- Facebook Smart Ads ($50 setup costs, $50 per month for the app, and $150 per month minimum budget)
- Email Autopilot ($25 one-time fee, $10 per month for the app, and $0.01 per use)
- Direct Mail Autopilot ($50 one-time fee, $50 per month for the app, and $0.70 per use)
- Voice Mail Autopilot ($10 per month for the app, and $0.01 per use)
- Smart Site: lead capture websites (free)
- Reach150: for testimonials, social media, and referrals ($20 per month)
- Template Builder: email marketing templates, direct mail templates, voicemail templates (free)
- Sphere Upload: to upload your already existing contacts for automated campaigns (free)
- Marketing Blast: for one-time marketing campaigns via email, voice mail, and direct mail (free)
- Training: another app for further training videos
So, as you can see, you won’t get the whole functionality just by purchasing a certain territory, you will need to additionally buy the regarding apps, which can add up quite quickly the monthly costs.
How Much Does Offrs Cost? A Pricing Overview
To give you a better overview of the costs involved you will find an overview table below.
|App Name||Function||Monthly Cost||One-Time Cost||Per Use|
|Launch||A collection of help videos||Free||Free||-|
|Territory Builder||Downloadable homeowner information of a certain territory||Free with territory plan||Free with territory plan||Free|
|AgentByZip.com||Features you when buyers and sellers are looking for agents||Undisclosed||Undisclosed||Free|
|Seller Signal Leads||Leads from potential sellers that engage with a real estate related website||$50||$0||Free|
|Buyer Signal Leads||Leads from potential buyers that engage with a real estate related website||$50||$0||Free|
|FSBO Leads||FSBO leads generated from one or more zip codes||$50||$0||Free|
|Agent Access||Access to Offrs’s agent database||Undisclosed||Undisclosed||Free|
|Expired Listing Leads||Leads generated from expired listings||$50||$0||Free|
|Foreclosure Leads||Leads generated from foreclosures||$50||$0||Free|
|Loan Leads||Generated leads related to loans||$50||$0||Free|
|Facebook Smart Ads||Facebook marketing campaigns to generate leads||$200||$50||Free|
|Email Autopilot||Email marketing automation.||$10||$25||$0.01|
|Direct Mail Autopilot||Direct mail marketing automation||$50||$50||$0.70|
|Voice Mail Autopilot||Voice mail marketing automation||$10||$0||$0.01|
|Smart Site||Lead capture websites||Free||Free||Free|
|Reach150||For testimonials, social media, and referrals||$20||Free||Free|
|Template Builder||To create email marketing templates, direct mail templates, voicemail templates||Free||Free||Free|
|Sphere Upload||Upload your already existing contacts for automated campaigns||Free||Free||Free|
|Marketing Blast||"One-time marketing campaigns via email, voice mail, and direct mail|
|Training||Further training videos||Free||Free||Free|
What will be essential is choosing to purchase access to a certain territory which in my case was $266.60 for a neighborhood in Miami.
On top of that come the different costs for the apps mentioned above.
To have a healthy mix of different lead sources and lead generation methods, you would need to buy all or at least most of the apps.
In this case, we would talk about an additional $440 per month plus total one-time costs of $125.
And in the case of email marketing, direct mail, and voicemail automation, you would also need to add a total per usage fee (depending on how many pieces you send out) of $0.72 per piece.
If it’s 500 pieces, it would mean an additional $360.
Are the costs worth it?
Let’s check this in the next section.
Is Offrs Legit? Let’s Take a Second Look from a Performance-Based Perspective
I contacted Offrs by email to get some further information about marketing performance data from past clients.
My thinking was that they might have gotten some feedback and data from clients that they might be willing to share.
Until today, I haven’t received an answer.
But during my research, I found an interesting video from a real estate agent that has been using it for several months (you can watch it below).
As you can see, he did a total of 5 cold calls to leads that had a high accuracy percentage according to Offrs’s dashboard.
Out of these leads, only one could be considered as a quality lead, but he called her a bit late in the game.
He also mentioned that for several months his partner and he called daily 50 leads from Offrs and unfortunately no leads converted.
In my opinion, he wasn’t bad at all in making these 5 calls.
To stay on the side of a best case scenario, let’s assume for my calculated marketing performance estimation that the percentage of quality leads was 20% (1 quality lead out of 5 calls he made) and that 2% of these would result in a conversion (e.g. an appointment or meeting).
This would mean that actually only 0.4% (20% quality leads x 2% cold call conversion rate) of all the leads that you get from Offrs would result in a conversion.
By the way, I already mentioned this cold calling percentage in my article about the same subject.
Now, let’s look again at the costs of Offrs.
Let’s say you work in just one territory that you purchased from them, use all their features (apps) but don’t use features that additionally charge you on a usage basis (e.g. direct mail).
Ignoring the set-up costs, this would mean monthly costs of $706.60.
By the number of calls the agent from the video made, we can estimate the number of leads he got access to per month.
Remember that his partner and he could call together 50 leads per day.
So, the number of leads would be in the ballpark of around 1,500 (50×30) per month.
Applying the 0.4% conversion rate he would be able to convert 6 leads into appointments or meetings.
If he manages to get 20% of these appointments to get under a commission contract and also sell their house it would mean a lead to closing conversion rate of 0.08% (0.4% x 20%).
This would mean a cost per acquisition or cost per converted and qualified lead of $117.76 ($706.60 divided by 6).
This would also mean 1.2 closings that come out of the 6 lead appointments, and thus a cost per closing of $588.83 ($706.60 divided by 1.2 closings).
This means an average commission of $10,223 per sale ($358,700 x 5.7% x 50%).
So, in this scenario, we would have a positive marketing ROI, because you can put $588.83 in, and get $10,223 out.
Not taking into consideration other costs you likely have to do business, this would mean quite a nice ROI of 1,636%.
Although I am not a fan of the Offrs layout and how it’s structured (especially with regards to pricing), the main point is that you will likely get a positive marketing ROI out of it.
The Estimated Marketing Performance Data at a Glance
|Estimated number of leads per month||1,500|
|Monthly costs (ignoring set-up, and usage based costs)||$706.60|
|Percentage of quality leads||20%|
|Average cold call conversion rate (meetings, appointments)||2%|
|Real conversion rate of available leads to appointments||0.4% (20% x 2%)|
|Lead to closing conversion rate||0.08%|
|Cost per converted and qualified lead (CPA)||$117.76|
|Cost per closing||$588.83|
|Marketing ROI||Likely positive|
Of course, all this calculated data from above is not statistically representative, but it helps at least a bit to make an educated “guesstimation”.
If you would like to compare this to other key marketing performance indicators, you may also want to check out my article on real estate prospecting rates of different marketing channels.
There are several alternatives of Offrs that are worth mentioning with similar functionality and algorithms available.
1) Offrs vs. SmartZip
SmartZip’s Smart Targeting uses a similar predictive algorithm or should I say maybe the same one as Offrs to identify potential sellers and collect their contact information.
Why probably the same?
Because SmartZip is part of the same company called Constellation Real Estate Group as Offrs.
So it would make economic sense to use the same resources.
But on the other hand, they compete against themselves with two similar products (Offrs vs. SmartZip). In a weird sense, this would be at least consistent.
You can learn more about SmartZip here.
2) Offrs vs Bold Leads
Unlike SmartZip, Boldleads is actually a real competitor that provides exclusive seller leads to real estate agents for a particular territory.
They also include the following features:
- Professional ad management
- Landing pages
- Automated follow-ups
- Email marketing automation
- Text concierge
- IDX websites
- Market reports
You can learn more about Bold Leads here.
3) Offrs vs. Landvoice
The last alternative is Landvoice. It is the only company of the four that discloses in an easy to find way their prices on their website.
They don’t offer predictive seller data, but different seller leads of the territory of choice at a more affordable rate.
Their features include:
- Lead management
- Expired seller leads
- FSBO leads
- Neighborhood search
- Pre-foreclosure leads
- Call capture
You can learn more about them here.
Offrs Pros and Cons
To get a better and balanced view of Offrs, let’s end this article with a pros and cons overview.
|A promising predictive analysis tool to find sellers||Confusing pricing structure|
|Likely a positive marketing return on investment||You pay extra for exclusive seller leads and many different features organized by apps.|
|A CRM and many different features you can add depending on your needs.||Unclear overview of products and features|
Overall, it is likely that you will have a positive marketing return on investment when you use Offrs with the majority of its features.
And if you can live with the partially confusing pricing structure and have good sales skills over the phone, it might be worth a try.
You may be able to increase your marketing ROI by paying a bit extra for exclusive seller leads, so you don’t come late to the party when calling sellers.