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“When a Seller Says “No” to My Offer, Should I Throw Them Out?”
Joe: Hey it’s Joe, another video in the series on automating your real estate investing business. This one, this question says, “I get a lot of leads coming in through text and voice blasts. Usually more than I can call back. I know that follow up is important but I’m having a hard time calling them the first time. Is there a way to automate that follow up process and is it worth messing with. Some of these people are pretty adamant about their no.”
Joe: There’s, first of all, I mentioned earlier, in an earlier video about the sequential text blast system that we’ve got that’s brand new and that’s the first thing that I would do. It does the follow up automatically with those people. And that’s a powerful thing. When you keep hitting these people again and again and you give them different options because the messages that we’re sending over that period of time, those fourteen messages over that three-month period, they’re different. The first one is, “Would you consider selling your home rent to buy rather than, you know, selling it outright?”
Joe: Then it says, “I’d like to make an offer on your home.” Well, first, actually, it sends them to the rent to buy seller’s site that explains how we work. That’s the next text we send them. And the next text after that it sends them to another site saying I buy houses, you know, I’ll make an offer on your house no matter what. Guaranteed offer on your home type of house – deal.
Joe: And then another one we send says, “I’d like to make a subject to offer on your property,” and you know, “I’d like to buy your property.” So we make different types of offers hoping that we might be able to snag them with one or the other, hoping that we might educate them about what we do over time. And we find them at a different time in their selling process. You know, the first week that they’re on the market they may not be so excited about selling the property lease option. They want to try it. They’ve got confidence that they can sell it.
Joe: But we know that 85% to 95% of for sale by owners do not succeed in selling it. They either take the property off the market or they list it with a realtor or they work with someone like us to help them get the property sold. So, we know that they’re not going to be successful but they don’t yet. And that’s why we do the follow up so that a week later, two weeks later, a month later, two months later, three months later, we’re still hitting them and we are hitting them at different points of their cycle and different points of their growing understanding that they’re not going accomplish what they are hoping to accomplish and they’re looking for other ways to do it.
Joe: And by giving them these different options every week, and coming back, it gives us some creditability. It gives us, hey, this guy is on top of it. He keeps calling me back, you know, he’s still interested. I keep hearing from this guy, and he’s got some different ways we can do it. You know, that gives you credibility in itself. So by the time you get to the second or third month, it’s much more likely that you’re going to be getting more and more of these people filling out that form.
Joe: And the thing that I’ve found as an internet marketer over the last, you know, what, fifteen years I guess, I’ve been, well, since 1998, I was kind of in the infancy of internet marketing. But at the beginning of this, one of the things I’ve learned is that you can send to a list and you can get a certain response rate. You send to that list again, you’ll get pretty much the same response rate. And you send it again, you’ll get the same response rate. If you do it over time you’ll just keep getting the same response rate. Yes, it does diminish over time a little bit. And if you have different messages it’s going to diminish, and if you send them to a url rather than just having them directly respond, that’s going diminish it some. But, it’s still worth it because every time they hear from you it does qualify you a little bit more as an investor, as a credible source and a credible resource for them.
Joe: All right. Hope that helps.