There's no single enforced definition, so the words get used loosely, but the trade does distinguish four things and it's worth holding vendors to the strict versions.
A dial or attempt is one outbound call, connected or not. A contact is a live conversation with the person who actually owns the property, which is the number that matters because most dials never get there. A lead is a contact where the owner said something that indicates they'd consider selling. An appointment is a scheduled call or walkthrough with a time on it. Some shops also sell "contracted contacts," meaning they bill you per verified conversation regardless of outcome.
When someone sells you a "qualified lead" at $72 each, which is what your quote works out to, you want the definition written into the agreement. Useful pieces: spoke to a verified owner, owner named a price or a timeline, property is not currently listed, and condition and occupancy captured. Then a credit policy, so a lead that fails the definition gets replaced rather than argued about.
The part that catches people at this stage is exclusivity. Plenty of shops sell the same conversation to two or three investors, which is legal and also explains why an owner sounds tired of you before you open your mouth. Ask in writing whether leads are exclusive, and for how long. Ask also what happens to a lead you don't close in 30 days, because some agreements let the vendor recycle it.
