Response data across four dispo channels says something uncomfortable about how much a buyer list is really worth.

Here is a set of logs worth working through. Say someone with no deal of their own helps a wholesaler with dispo for free, to see the buyer side before ever signing a purchase contract, and gets one property to distribute four ways with permission to keep the logs. The property: a 1,240 square foot brick ranch in a working class suburb, contracted at 143k, the wholesaler's stated ARV 205k, independent comps at 192k to 198k, rehab closer to 38k than the 28k on the flyer. He wants 156k, so a 13k assignment. Channel results over nine days. Email to his 1,900 name list: 41 opens on the second send, 6 replies, 2 showings, no offers. Text blast to 600 numbers: 9 replies, 4 of them asking to be removed, 1 showing. Posting in three local investor groups: 14 comments, mostly other wholesalers asking if it is assignable, no showings. One phone call each to 22 buyers picked out of his own closed deal history: 11 conversations, 5 showings, 3 offers, best at 149k. The 22 calls beat 1,900 emails by a wide margin, which is the expected result, and every offer came in under his ask, which he blames on the comps rather than his price. The best offer nets him 6k instead of 13k. The question this leaves is whether the list size everyone brags about is mostly theater, and whether a dispo service is really just 20 to 40 relationships plus a phone. If that is true, the business someone might think about building looks very different, and much smaller.