Today’s REI Classroom Lesson

Danny Johnson goes over strategies on how to eliminate your competition when talking with motivated sellers. Not only is it important to talk to them ASAP, but you should also have your phone number easy to find for people searching for a buyer like yourself.

REI Classroom Summary

Make sure you’re responsive! Get a system that alerts you to any new leads so that you can call them immediately after they submit their information, requesting information.

Listen to this REI Classroom Lesson

Real Estate Investing Classroom Show Transcripts:

Mike:Welcome back to the FlipNerd.com REI Classroom where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.

Danny:Hello. I’m Danny Johnson. I’m going to be your host of the REI Classroom today. And we’re going to be talking about how to eliminate most of your competition when dealing with motivated sellers.

Mike:This show was sponsored by passiverental.com.

Danny:And this is a big thing, because there’s so much competition everywhere these days trying to buy houses from motivated sellers. So let’s cover that in detail, so that you can better convert more of your leads into deals.

When you consider what people do when they research, or they search the Internet really for people to buy their house, and specifically motivated sellers searching online, usually people will get the results of the search in Google, and go and click from one site to the next, and checking all of these sites. We want to try to get people to stay on our website to work with us, and not go to other website of our competition. So how do you do that?

We’ve considered the logic behind how people search for house buyers on the internet, and we found the best way to prevent people from contacting the competition is to really talk to them as soon as possible. So not even just online, but if you’re doing direct mail or anything else, if they reach out to you, you need to communicate with them as quick as possible. And this way, you build some rapport, and set an appointment as soon as possible so they feel like they’ve done what they set out to do.

Whenever people receive direct mail, and they have a whole stack of letters from your competition, and everybody, and they finally make the decision to contact somebody to come and look at their house and make an offer, what they’re doing is trying to get an appointment set to feel like they’ve accomplished something, so just they can check that off their to-do list.

Whether it’s through your website, or through direct mail you have to answer your phone. It’s huge; you just have to talk to them as soon as possible. And so if you’re not answering your phone calls live or have somebody doing that for you, that’s one way you can really increase your conversion rate, and eliminate your competition.

With regards to websites, the thing that we can do, there’s actually three things that you can do on your website to help increase your chances of that. You’re going to have your phone number in multiple places on your site. You really need to have it plastered everywhere so that they can find it quickly, because you really want them to call you rather than submitting the form. That way you can talk to them, you can set the appointment, build that rapport, and it’s just the best thing to do.

Aside from that, you can also set up, what you should do is set up a sort of an automated text message to go out after they fill out the second form. That’s something that we built into the Lead Propeller websites that we offer. As soon as that form is submitted, they get this automated text message that also includes information from the form that they just filled out. So it seems like it was actually typed out and sent to you.

That message should say something like. “Received your information. I’m going to give you a call in a minute.” That way, instead of them going to another website and filling out their forms or calling them, they might have more reason to wait for your call, because you’ve told them that you would.

Then another thing that you can do is, if people are submitting forms on your website, and you have that just going to your email, you might not receive that information for up to hours really. The best thing to do is set up your form to where you also get a text message, so that you get that immediately no matter where you’re at with information from that lead. That’s another thing we do at Lead Propeller, is have any form submission through the website go directly to your phone.

I just love it whenever I’m out and about, and I get a text that says I got a new lead, here’s the information, I can click that button, and call them right away. And a lot of times they’re still on my website. And so it’s great, because then I’m setting an appointment. A lot of time those people don’t end up going to other websites, and I’m going to the house, and I’m making an offer, and there’s not a bunch of other people that they’re waiting for offers from.

Obviously not everybody is going to do that, but you will increase your chances of that kind of thing happening where you don’t have the competition when you do it that way. So that’s the three things on the website; it’s having the phone number everywhere, and trying to set up these automated text message to where they fill out the form they get a text message, and you get a text message. And so there’s ways to do that if you already have a website. You can hire a developer on Upwork or something like that to just try to set those up for you.

One thing that we did also just make available that you might want to try to implement as well, or if you’re one of our customers at Lead Propeller, whenever they respond to the automated text message that they get from you, from your site, we actually have it come through, and you get that message forwarded to you, so then you can then start corresponding with them. And so then it’s almost like a seamless conversation if they do respond to the automated text message. A lot of this technology now is making it easier to eliminate competition, because you’re able to speak with them whether you’re sitting at the computer, and ready to get their information, or out and about, and you can get these text messages. This is really huge, and it greatly increases your chance of getting these deals.

Another thing that you can set up is if you have ever used, MailChimp is a free one, but these are these email services that you can use. You’ve got MailChimp, AWeber, Constant Contact, Mad Mimi, Get Response, all these different services. What they allow you to do is create lists of emails. And so whenever you get a submission to your website, and they have their email address, you can put them in there, and have an auto responder sequence of emails be sent to them over time. This is a way to kind of drip contact to people, because sometimes, you talk to them, they’re not maybe ready to sell their house yet, so you can have them in the sequence.

One thing that’s a little bit tricky about that though, that you have to be aware is, you’ve got to make sure that you’re always sort of removing people from those lists when they don’t want to be contacted anymore. Or if you were going to make an offer, you don’t want to be making an offer, and they tell you, “Hey, we’re going to get back with you,” and then you send them some kind of automated response that doesn’t make any sense to them, because you’ve already been to their house. You have to make sure that you set up some way to remove them correctly from those lists.

And adding them to the list is pretty easy, because you can just log into your account with those systems, and put them in. And then through the Lead Propeller sites, we can have that automated through the forms. But you can do that without Lead Propeller, and do that yourself through those systems. With REI mobile which is our CRM system, one thing we’ve added was the automated drip sequences that you can set up that are just like this and have all that information in the same place.

These are all ways to basically make sure that you are in contact with sellers. That’s really the gist of all of this. Eliminating competition is done by being responsive, answering your phone if they call the phone. And if not, if they’re submitting a form, or doing something like that, you have to call them back immediately, and increase your odds of converting that lead into a deal, putting it under contract, and not allowing them or having them feel like they need to contact other people.

Mike:Passiverental.com is your source for turn-key, done-for-you rental properties. If you’d like to be an investor and not a landlord, please visit passiverental.com to learn how to purchase cash-flowing, professionally managed rental properties in the hottest rental markets across the country. We can also help connect you with financing for your next property. Invest the easy way today, and get started by visiting passiverental.com.

Please note, the views and opinions expressed by the individuals in this program do not necessary reflect those of FlipNerd.com, or any of its partners, advertisers or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.

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I've been buying houses in San Antonio, TX and surrounding areas for over 13 years. We've been helping homeowners sell their house fast and get out tough situations with dignity. Investing is a people business and we strive to provide the best service to everybody, whether we buy their house or not. I also blog at FlippingJunkie.com. There you can read about all of my adventures flipping houses.