How Much Time Should I Spend Each Day Putting Deals Together?

How Much Time Should I Spend Each Day Putting Deals Together?

Joe: Hey, this is Joe. This one is from Andy in the UK. Andy says, “My question is what sort of time would you give daily to telephone leads and how many calls would you make in an hour, every hour per day? Would be working a day job at the same time as I’m using the Automarketer to start with and I want to know how much time it’s going to take me. Thanks for the great videos and contents, content you give away for free. It’s very much appreciated over here. Best.”

Joe: What I suggest to my mentor students is call fifteen to twenty people per week. That should take you eight to ten hours or less. I doubt that it’s going to take you ten hours to call twenty people. Typically, your conversations are going to last between eight minutes and fifteen minutes on average probably. You may take a little bit longer. As you get better they’re going to take longer and you ask more questions, it’s going to take a little bit longer. If they’re only taking you two minutes and you’re off the phone, it means that you’re not asking enough questions. You’re not staying on the call long enough and helping them make a decision, or, there’s no way that you can understand their situation if you’ve only talked to them for two minutes. So you have to learn that process and get good at it as you go.

Joe: So, put in eight to ten hours a week. Get enough calls, you know, get enough leads that you can call fifteen or twenty people a week. And if you do that you’re going to turn into a real business in just a matter of months and you’re going to start being able to put these deals together and once you learn how to do it you’ll start talking to fewer people and, but you’ll be better at the people you talk to, and you’ll be able to make choices about which leads to talk to because you’ll know which ones are converting over which others that don’t convert. But you need that practical experience to know what is what.

Joe: Most people think, oh, that lead sucks, instead of thinking that they suck. They suck on the phone. That’s why they’re not getting those deals together. If you learn how to talk on the phone, then all leads start making sense. Everybody that lists their house for sale by owner is a motivated seller. And we’re always thinking, oh, well, they had somebody die in the family, or they had to get a divorce, or there had to be some awful thing that has to happen to them before they’re motivated. No, they’re motivated or they wouldn’t be on the for sale by owner list.

Joe: Now, there’s different levels of motivation. I understand that. But if they’re putting it on Craig’s List for sale, that means they want to sell their property, or they’re just testing the waters. Very few people are just testing the waters because it’s a pain in the butt. And it’s a pain in the butt to get a property up on Craig’s List and leave it up there and to take the calls from it. So if they’re talking to you, if they’re responding to you, that means they want to sell their property and they’re trying to find the best way to do it and they don’t know what they’re doing. These people don’t have a clue. We know that 85% to 95% of for sale by owners don’t succeed. So the very fact that they’re putting it for sale by owner shows that they don’t know what they’re doing.

Joe: So whenever, it always boggles my mind when I find a realtor who lists their property for sale by owner thinking they might be able to sell it on their own. Because they don’t understand that it’s the MLS that is selling the properties. That’s why realtors can be successful when they’re selling a property for cash. Or, if we’re selling a property on Craig’s List it’s because we’re offering terms or we’re offering dramatically under market value. Those are the ways that we can sell it or that anybody can sell on Craig’s List, you know, without using a realtor.

Joe: So that’s, I guess that’s it. You know, just put the time in, make the calls. As time passes, you get into it where you start putting together lease option memos and you’re going to start converting you know, one in five, one in three people you talk to. Now you’re going to be putting together two or three deals in a week perhaps. That starts getting interesting. Now you’re talking to five, six, seven, eight, nine, ten people a week, maximum. And you don’t have to talk to twenty people or thirty people a week any longer. So give yourself the time to do that and you can still put together multiple deals every week.

Joe: All right – hope that helps.