What’s a reliable (and affordable) source of data??

Question

Hi again,

As I have mentioned, I am new to Wholesaling and have found the conversion rate with listsource to be discouraging to say the least.  Any advice I can get from y’all regarding better (preferably more affordable) ways to get leads, please help.

Many thanks,

Emma

Emma Bennett · Answer

Omg David..I’m on the floor. Love Rick’s Mommy jeans..agh I’m crying

Thank you for that!!!

Michael Arens · Answer

Here in Southern California, we used to get 2-3% response rate on a mailer to property owners regardless of owner status.   However,  lately I've been receiving a 0% response rate or a zero call back ratio.  I think that property owner's simply trash post cards and letters these days.  Owner's are getting way too much mail to make it effective.  Thing is.....you just never know.  It needs to be compelling.  Tell them enough of something they would be compelled to inquire about with a phone call.  Listsource data is not the issue.

Sean OToole · Answer

Hi @Emma Bennett, when you say you are getting no conversions / no "bites", do you mean you are not getting any calls, or that you are getting calls, but they aren't turning into deals?

Typically when we talk about a "conversion" we mean when it converts from a lead (someone who has called) to a transaction.

Either way the issue is likely not the data. More often then not it is the message.

If you aren't getting calls, then your direct mail piece probably isn't enticing them to call you. On this front think clickbait - the goal isn't to tell them about you, its about raising their curiosity enough to reach out, allowing you to start a conversation.

If you are getting calls, and truly not converting them, then your pitch isn't compelling enough. This might be related to not picking the right list, your not having realistic expectations, your not having a compelling pitch, or some combination thereof.

Don't assume, for example, that just because someone is an "absentee owner" they'll sell you their house for 30% below market value just because you sent them a "I buy houses" letter/postcard.

Bottom line, there is a lot more to it then the list. And no matter the list, if you have a compelling and realistic message and offer you'll do deals. :-)

Emma Bennett · Answer

Thanks @Michael Arens ...I just need to figure out a way to hook them with my message....simple enough right??? Lol

David LaPlante · Answer

@Emma Bennett Everything you need to know about Clickbait...and how to master it can be found here.

;-)

Emma Bennett · Answer

Hi again Sean,

Yes it helps..thanks so much..but I’m afraid I have no clue what clickbait is ????

Cheers,

Emma

Sean OToole · Answer

@Emma Bennett - despite being on 3/16 Irish, my parents laid it on thick... Sean Patrick O'Toole. ;-)

Note that @Michael Arens is right that even with a compelling message, it is harder now then in years past. Owners are less likely to move generally, and any sign of distress results in them getting a lot of mail, making it hard to stand out.

As far as changing your message, it is less about keywords, and more about creating interest. Clickbait works because it puts a question in your mind that makes you feel compelled to click and get the answer. Same thing is true with your card - much better to put a compelling question in their mind that will get them to call, then to tell them everything such that they have no reason to.

Hope that helps!

Emma Bennett · Answer

Hi Sean, Thank for the valuable input..and btw, I love you name. I was born and raised in Ireland and grew up knowing a hundred OTooles’!!  Okay , so from what you’ve explained, it’s clear that my message is not all compelling, because I am just not getting responses ...period. so, I guess I start from scratch and rework the narrative. Any key words/sentences I should add??

Thanks Sean,

Slainte,

Emma

Emma Bennett · Answer

Heath,

So far I have mailed close to 900 absentee homes once a month for three months now and still no bite.

Maybe it’s the data I’m using...I purchased from listsource???

Heath Ryans · Answer

@Emma Bennett I get a great deal of calls back (roughly 11%) from leads i gain from driving for dollars. However my conversion rate is non existent as well.

How many times have you mailed that list and at what frequency?

What’s a reliable (and affordable) source of data??

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