Conversion Rates SUCK... seeking help from experienced investors

[Duncan Hayes]

Hello all, thanks in advance for reading and responding.

My partner and I joined forces at the beginning of the year to run a wholesale operation. he handles implementing systems for our VA, our CRM, all the integration etc, and also handles dispo. I handle all acquisition as well as our network of investors, agents, title companies, etc. Once a lead expresses interest in selling, the VA inputs the lead into our Podio. Then I get the comps, contact for follow up, and begin doing the work to get the contract signed.

My partner keeps the VA with fresh leads, and I'm sure that we also recycle leads so no lead goes to waste and we get the maximum life we can out each one. Since January we've had 81 leads input into Podio from the VA's 1000's of calls. Of those 81 leads, we closed one deal, quick summary of that:

Condo in San Diego; PP of $410,000 and assigned for $430,000. Took 2.5 weeks to get done, just because of delays from the seller during escrow. 

Now we're kinda just stuck. Leads have been coming in still, and obviously in my own opinion I am having great calls with a lot of the folks I speak with. I recently started recording the calls so that I can review for training purposes, but does anyone else have any suggestions? We aren't able to distinguish where the disconnect is. Rapport building has been great, at least in my opinion. I'm frequently having longer than expected phone calls with sellers, because I grabbed their attention by asking a question they probably don't get asked 9x out of 10 when they're getting called nonstop about their property. I would say that we're really getting a lot of info out of these sellers, not just about the property, but their lives and what selling would do to enhance their life. 

Anyone have any suggestions? LOL thanks in advance everyone who reads and/or responds!

[Cody L.]

As someone that gets literaelly 5+ calls/texts a day (I am sick of them and I've had to turn on the iphones spam filter which blocks anyhthign that's not a contact), I can tell you where people that reach out to me fail

1) They rely so much on automation that they use the first part of the LLC name. So if it's under "Big Properties LLC" I'll get texts that say "Hi Big, would you liek to sell..." SO yeah, I know it's automated but when ti's that obvious I'm not going to bother

2) The texts, likely due to rules, have "If you'd liek to opt out type STOP".  Another red flag that's its' not a real person reaching out to me about my property

3) Sometimes I *DO* reply.  I'll get texts like "We are buying in your area, would you consider selling?".  Now I know it's a BS spammer but I'll say  "really? What area are you buying?".   No reply.  Or I'll say "Really, can you tell me some of the properties you've bought?"   No reply.  Now, if this is a numbers game where only 1-2% even REPLY to your text, then it would seem when people do you'd reply back.    I also have an automated reply that says "If you're interested in buying, go here: www..."  and it gives my website that talks about how to buy.  Know how many people have replied back to the 10000 times that's been sent back?  Nearly zero.  And the very few that said "I'll check it out", I never heard from.

So remember, the texts or vm you're sending are being sent by 1000 other spammers like you.  I can promise you don't have a list that every other goof doing this doesn't have.

So find a way to stand out.  Try to at least fake it like you're really calling about THEIR property.   And if you get a reply, work that lead to death as not many (by %) will reply. 

Or you can do what I do to buy a property.  I don't blast.  I have a small targeted list of people I want to buy from and I call them, knock on their door, text them etc. but I'm doing it personally.  Me to them.  "Hi bob, this is Cody.  I see you have a property at... I own one a few blocks away at ...  I'd love to buy it.  I'd be willing to pay $x", etc.    That stands out vs the robotic crap they get from everyone else. 

Good luck.  And damn man, take me off your list!   :-)