Getting Paid Fast
In the end, that’s your goal. Oh sure, we all say we want to help people, and we say we love to be in charge of our own destinies. However, at the end of the day, you gotta get paid if you expect to last. In the last post of Lead Generation Part 1, I gave you some specific homework… did you do it?
Lead Generation Made Easy
One of the hardest things for a newer practitioner to do is establish the habits required to be successful. Habits like lead generation, lead followup, presentations, and time management are not easily mastered, and take a lifetime of practice to keep.
However, if you are looking to get a check quickly, you don’t have the time to master things, and don’t have the money to spend to find a ton of business.
Don’t Break Eggs
As long as I can remember, I’ve always heard that “you gotta break an egg to make an omelet.” The context was that if you were gonna make money, you would have to spend money.
In this day and age of the Internet, nothing could be further from the truth! Content marketing, Craigslist ads, YouTube Videos, and For Sale By Owners pose immediate lead generation opportunities to those creative agents and investors who are smart enough to recognize them.
Where to Find Great Leads
If I were new, and I were looking for new sources of business; I would definitely want to focus on the types of business that will give me the “now” business that I want. For Sale By Owners, For Rent By Owners, Expired Listings, and MLS Listings would all be at the very top of my list.
Why? Because they are all free, easily obtained, and most of all, motivated!
Ignoring What I Say?
Ok, now I know that there are some of you who are insistent on spending money to get leads. If that is the case, you may be wondering to yourself, where should I spend the money to get the best result?
For my money, I think that the $197 that FreedomSoft charges for a CRM and Websites is a bit too much for what you get. Especially in light of the $99/mo it costs to get Investor Carrot.
Here’s why I am a big believer in something like Investor Carrot. You have the ability to create specialized blog posts, Expired Pages, FSBO Pages, Notice of Default Pages, as well as powerful Buyer Pages to attract the buyers you need.
When you are starting out in your Real Estate career, you do not need fancy CRM’s to keep track of your leads… however, if you do choose to use one, I like Zoho.com because they integrate easily with Investor Carrot’s lead pages and are an inexpensive way to keep track of your leads.
Bandit Signs and Direct Mail
If you are trying to get your first wholesale deal, you may be working with a limited budget. If so, you definitely are trying to figure out ways to make sure that you get the most “bang for your buck!”
Since that is the case, if you are going to do bandit signs; you must be aware that they are illegal pretty much everywhere you go, and they have a limited life span.
Direct Mail suffers a similar fate. Many times, when you are doing your mailings, you are not as successful as you would like. Of course, they promise phenomenal “response rates” of 12% or more. However, a “response” does not mean “a deal!”
Lead Generation All Day..Err’ Day!
With your powerful Buyer Mindset, you now realize that every property is now open to you! It is simply a question of their motivation! Hopefully, you did your homework from the last post, and have called all the available FSBOs, FRBOs, and Expired listings you could get your hands on!
Using my scripts, actively call the FSBO’s and FRBO’s in your town looking for their motivation. If you run out, look on Craigslist, FSBO.com, MilitaryByOwner.com, ForSaleByOwner.com and other similar sites for other potential prospects.
Examine your local MLS for potential deals that could fit into your criteria. Homes that have obvious mistakes as well as motivation. Mistakes such as incorrect bedroom count, incorrect square footage, incorrect zoning, or other common mistakes are made by agents on a daily basis.
These mistakes, as well as “motivation bombs” are discovered in the Remarks section of every MLS listing. “Owner Relocated… Must Sell!” is a typical example. Other more obvious remarks would be akin to “Owner says “make me an offer!”
Appointment Making Time!
Okay, now that you’ve found someone halfway motivated, its time for you to set an appointment! Remember, the purpose of prospecting is to set the appointment! Nothing else!
Once you’ve determined that this person is someone you would like to know more about, and be willing to invest a little extra time in this person to see if there is a potential deal; then set an appointment to see the property.
Now, to allay any fears you have about going on a bunch of unqualified, unmotivated, time wasting appointments, I want you to know in advance one cardinal rule about appointment setting…
If you set an appointment, you can also cancel it.
As dumb and as elementary as it may seem… many real estate practitioners fail to understand the power of this very point.
The Power of The Appointment
Once you’ve set the appointment, you are now able to systematically approach the Seller and their beliefs about the property, the price, and their motivation. If at any time, you sense that you are getting into “touchy areas,” then you can quickly back away from the subject, and retain the appointment.
Conversely, if you attempt to get to the “Touchy Areas” before establishing an interest in the home (setting an appointment to see it), then it is far easier to spook a already nervous Seller.
By setting an appointment to see the property, you establish the beginnings of your presentation to the Seller. They judge everything about you from this point forward. All the words you say, all the prices you give, and the manner by which you conduct yourself is all tabulated and judged by the Seller.
Think of it this way, the Bible records that the hero Sampson killed a thousand Philistines with the Jawbone of an Ass. I believe that just as many sales are killed every single day by the same weapon.
Holster That Jawbone!
More often than not, you are the one who kills the deal. I’m sorry to say it, but it’s just plain true.
After nearly 19 years of slugging it out in the trenches against some of the best Realtors® and Investors in the world, after talking with thousands upon thousands of people through my podcast and blogs, there’s one thing that seems universally true.
I’ve discovered what kills your deal is NOT the competition, not the market, not the Seller “wanting too much….”
It’s always been you. The worst part is…
You naturally know that what I’m saying is true.
You see, the Seller has full confidence in you when you come over. They believe 100% that you can do what you say you are going to do. It’s when you start talking the problems come.
If you can learn how to control the conversations.. the “Mental Martial Arts” necessary to control this sales environment, just imagine how powerful you could become!
Controlling the Appointment
Now, in the next post in this series, I will talk specifically about how you qualify, as well as control the appointment in a powerful, helpful way.
In the meantime, you need to be setting as many appointments and meeting as many people as you can. The reason is clear. The activities you are taking today will pay off dividends in 90 days.
In other words, the people, the calls, the appointments, and all the hard work you are putting in now, is just the sweat equity for your business of 90 days from now.
Prime that pump! Set those appointments, and as always…
Have a Powerful Sales Day!