Posted on: February 05, 2020
WI 356 | Radio Marketing

 

Ever wonder what it takes to become an authority in the wholesaling market? Understandably, becoming an authority will require some level of experience and expertise. However, even if you lack both, you’d be glad to know there is a marketing medium that can help you become an instant authority in your market: radio marketing!

Today’s guest is no stranger to advertising on the radio. In fact, he’s been doing it for almost a decade now. Chris Arnold is the founder of Arnold Elite Realty, a cutting-edge boutique brokerage and the co-founder of COSA Investments, one of the largest wholesale firms in the DFW Metroplex. For many years now, Chris has been running a lucrative wholesaling business virtually while living his best life in Tulum, Mexico!

If you’d like to know why radio marketing has been getting quite a lot of buzz lately, don’t forget to tune in to today’s episode. Chris not only discussed all the basics of this “set it and forget it” marketing medium, he also covered some of the peerless benefits it offers. If you want to know how you can use radio to build authority and get ahead of the pack, this episode is for you!

RESOURCES:

How To Become An Authority In Your Market

Episode Transcription

I am super excited to be with you. First of all, we have got a rock star with us and we do this every single show. This is nothing new, but what I want you to do is we are going to be talking about wholesaling. You  know us for wholesaling. We are going to deep dive this. Wholesaling is simply the art of finding deeply discounted properties.

If you know how to do this in your market over and over again, that is how you can make a lot of money in real estate. We are going to be talking about one of the marketing channels that is getting a lot of attention, getting a lot of buzz. We have with us, Chris Arnold. Do you want to see lifestyle when everyone is like, “I want to get into real estate so I can live this lifestyle?” This guy has got it figured out. Chris Arnold lives in Tulum, Mexico.

We are going to break down a marketing channel, but Chris, before we break down the marketing channel, give us a little background about yourself. What got you into wholesaling in general? Tell us a little about your background and how it has also led you to live this lifestyle of being able to do it virtually and live in Tulum, Mexico. I am assuming you are not down there wholesaling the pyramids and all the stuff down there. What is it, the ruins? Let’s break it down for them. Help us understand a little bit more about you, so the readers can understand who you are and what you do.

I have been in real estate for many years. I initially started on the brokerage side. That is how I got my feet wet. I know that I want it to go into investment eventually, but I started off with brokerage. I got my license and built up the brokerage. After that, I was at a place where it was running. It was time to hop into investment. I started fixing and flipping first before I was wholesaling.

As we tried to scale that up, we ran into some challenges. If you are doing a lot of fix and flips, there are a lot of systems that go into that. As the old saying goes, “I would rather take a fast nickel than a slow dime.” That is what wholesaling is. It was years ago that we started ramping up the wholesale side. It is a key part of the businesses that we have set up. I love it.

That means you were doing it back in 2005. Did you get caught in any of the 2008, 2009, 2010 crash? Did it affect you?

When I got caught, I was on the brokerage side. That is when you had to move over to short sells in REI, if you remember that. We had to do a complete shift. Luckily during those years, I had not gotten into fix and flip yet. When we did start, it was around 2010. I can remember some people still nervous about the fact that we are willing to jump in and get in and fix and flip properties.

Fix and flip can be a beast. A real quick background before we get into this is that I got involved in wholesaling in 2015. It was not for three years that I would even dare. We went through all through 2015, all through 2016, and 2017 and we finally picked on. It was a home run and one in which you put some carpet and paint. It was not a full-on fledged rehab, but it took us a while. There is an art to it. There is a way to expose your company if you do not do it right, and especially who knows what the economy is doing. You have a great background in fix and flip.

Now, let’s talk about some key things, the nuts and bolts and we will start to get to understand you. Everyone knows us on Wholesaling Inc. Direct mail is still going. It is still active and going strong. What is beautiful is there is a point where everyone is trying to scale. They are trying to get their business to the next level. Even with my own business, we are always looking for ways to grow it.

How do we strategically do it? What is the next marketing challenge we bring on? We try to do it methodically and strategically. We are not bringing on ten marketing channels at once and then suck at all ten of them. This is one that we are going to cover in this episode. It is one that we are really excited about and want to grow into for 2020. Let’s break the news. What is the marketing channel we are going to break down for them?

You are not your target audience. You are not your demographic.

We are going to talk about radio, tried and true.

Radio? Who listens to radio, Chris?

Your target audience does. That is the first thing I laugh about. People go, “Spotify. Pandora.” I have to remind people, “You are not your target audience. You are not your demographic. Your demographic is primarily over the age of 50, and they do not have Spotify.”

Bring out a piece of paper and a pen and get ready to jot down gold nuggets. There is going to be plenty shared during this. I always strive to make sure our readers do not feel good from reading this, but they see some items here to take action on. You are dead right. I remember the first time you told me radio. I sat there and I’m like, “This guy is nuts.” I do not listen to the radio and you are right. I am not looking for Cody Hofhine. My target audience is not Cody Hofhine. What is it about radio? How long have you been doing it to start off?

I have been doing radio for many years. Can you believe that? I have had other traditional marketing pieces go up and down on me. Could rely on for a period of time, they get saturated, your ROI would drop on that. The thing about radio and why I have grown to love it so much in my company is because we can rely on it. It has been consistent and steady. It is the reason that we have done it for many years.

For us, when direct mail got really challenging in 2018 in DFW, that is when you would walk into someone’s house and they would have a stack of 40, 50 postcards and then we go, “Everyone is on this bandwagon.” The thing that we loved about radio is that it did not happen because there was virtually no competition. Radio has been around forever, but the utilization of radio to find discounted properties is still untouched. It is wide open. Nobody uses it for that purpose.

In my head, I am thinking a couple of things. First and foremost, I love how you can differentiate yourself. If you came over to see our process, we are all about how do you do it? How do we differentiate ourselves from all others? When we are out there, what are we doing differently because everyone is receiving the postcard? Everyone is receiving the same message. What are we doing over and above? What is unique is radio plays. When you first said this, I was like, “Radio, that is interesting. I do not know if I would invest in radio.”

Here we are talking radio because I think the concept is so brilliant, but you have got the numbers behind it, the strategy behind it, and all the success behind it. That allowed me to see why, “Cody, you got to open your eyes up, brother.” I am thinking now the second part of this is I went to a Jazz game with my boy one night, and we are sitting there at the Jazz game.

I walk in and, first and foremost, Thurl Bailey. He was an ex-player for the Jazz. He comes walking by and I am like, “Thurl, brother, I would love to get a picture with my boy.” He is like, “Yes.” He is a tower of a guy, super calm, and then I go walk around the corner. I see two attorneys. The only reason I think these  are something is because I hear their jingle every single time. While we are watching Jazz games at home, they are at every commercial. More importantly, whenever you are in a car, their ad comes up on every channel. I do not even have to say their phone number.

If I ever get into a car accident, because of speed and convenience, I already know who I am calling because I know their phone number. I would not have to look it up. I would not have to get online. I am sitting here looking like, “What could that be for?” Do you see those same results? When I saw him at the Jazz game, I said to my boy, who could give two craps less who attorneys are, he is sitting there and I am like, “That is so and so.” I said the name and he’s all, “Who is that?” I am like, “Those are the ones we hear on the radio all the time. That is them.” He is all, “Really?” What is funny is they are two human beings, but me, they almost felt like a celebrity, almost.

WI 356 | Radio Marketing

Radio Marketing: The thing about radio is because we can rely on it. It’s just been consistent and steady. And it’s the reason that we’ve done it for nine years.

 

You hit on the right word. The interesting thing about radio is it is like television. It creates celebrity status. We know that psychologically for us, if we see someone on radio or television, that is why we have movie stars. Where does celebrity status come from? It primarily comes from those two venues. There is something that happens in our minds when we hear someone on the radio. We go, “They must be a celebrity. They are on there.”

Here is the next thought that follows, which is important about radio and that is if you are on radio or television, then you must know what you are doing. You must be an expert. We call that instant credibility. People think, “If he is on radio or she is on radio, they have to be an expert.” You get this great combination of celebrity status, instant credibility. I am going to tell you this, Cody, if you want to be ahead in your market, you are competing against other wholesalers in the area. If you want to walk in with celebrity status over, let’s say, someone that used a traditional marketing source like direct mail or text blasts. Trust me. You are ahead of the game before you even go down to sit in and pitch.

There is so much that is going through my head right now. This is question time. Get ready for deep dive. In my head, you will see I cannot keep up myself. I might lose some thoughts, but I will get back to it. The one I want to think of is at Wholesaling Inc. We work with tons of students. We work with them nationwide. The common question I get, and we still show them how to pound through this and power through this. In my market, I know how to find every list I want. I know it because we have done it for so long. If you want to be the best, you got to become the expert.

You’ve got to find new ways to get all these new lists. For many, there are some states where they are like, “That list does not exist.” Sometimes you have to question like, “Are you going weak on it? You are not going hard at it?” or, “Is there really not a list that exists for so many states?” How does radio help fix that problem?

It is not list-dependent. This is what creates saturation. Is it people fighting over direct mail, fighting over ringless voicemail text blasts? No, that is a method. What everyone is fighting over are the lists. That is where the overlap happens. All of a sudden, you get into this battle of who can build the best list. That becomes a high level of maintenance.

It is a lot of work to get in and build the most niche list. People are starting, and this has been going around for a while, but the layering list. “Plus this,” and that creates a greater probability that they are going to sell. It is stacking those lists. When you advertise on radio, you are hitting an entire audience that is potentially not on people’s lists.

This is what is interesting while you are saying this. Everything you are saying, these lightbulbs are going off like, “This is true.” There are not many people in Utah going on it. There are not many people in many states doing radio. What is the likelihood you even run into anyone?

There is virtually no competition. I know this with the students that we have helped. The one thing they will come in and they will say is, “The reason I decided to go on radio is because you asked the question, “Who in my market is on radio?” I sat back for a sec. I thought about it. I realized there is no one.” I hear that again and again. That is what is so interesting about this. As long as radio has been around, it is something that everyone knows about, but no one is utilizing it. Here is the thing, Cody.

If you want to succeed in any type of marketing, one of the best ways to do that is to go after something that does not have competition. You can have a great marketing strategy, but it does not matter how hard you work it if it is oversaturated. It is not going to present the ROI. If you can get on to something wide open with no competition, then your success rate will go up tremendously, without question, because you are not competing.

Here is the other thing that I think that is pretty cool. The jingle, going back to those two attorneys. Right now, I have no need for him, but one thing that is branded on my head that I cannot get rid of, because it is the easiest phone number that exists in the state of Utah. When that time comes, I do not have to wait for a postcard or I do not even have to go google.

The interesting thing about radio is that it’s like television because it creates celebrity status.

In my head, I already know if I come across this situation, these people seem like they get things done. I already remember the number when it comes to priority, like, “I got an accident. Who should I call?” I do not have to google this. It is already in my head who I am going to call. They have already branded me, saying they are the best in the industry. Do you see that even with you with real estate? Is that the same play?

Without question. Here is the way I will break it down. This is where you will expand your understanding of this. Let’s utilize direct mail. Direct mail is great. You could be crushing it right now. I will say this, and I ask this question rhetorically, how many times are you going to send a postcard to a particular person on a list? Four, eight, twelve times, right?

Has anyone ever sent somebody a postcard 100 times? No, because you send to someone a certain amount of times and then you move on, which means they forget about you. That does not happen on radio because if radio is consistently playing again and again, think of it like direct mail. It would be the idea of sending someone that direct mail year after year. It brands you.

To tell you one of my favorite stories to hit on the point of what you are making. We got a voicemail one day from a mom in her car driving. She called in and she left this voicemail for us. She said, “I listened to Classical Week.” We are advertising on this classical station. She goes, “I love it. My kids are always in the backseat and I am driving them around.”

She goes, “I want you to know that my kids, when your ad comes on, repeat it verbatim. I thought it was so funny. I wanted to call in and tell you  you are doing a great job.” They are not even paying attention. They are not listening to music, but it is the fact that it is played so much that subconsciously it sets in, like what you are talking about with those two attorneys. You do not get that with other traditional marketing pieces. Not going to happen at that level.

Same thing I think about even wedding rings. I know who I am going for the wedding rings. The guy is branded everywhere in Utah. I can tell you, open Monday through Friday until 8:00 PM, Saturday until 5:00 PM and closed Sunday. I can tell you their phone number and tell you everything. Sure enough, I went through the office. I am like, “Where did you  get your wedding rings?” 60% came from that one that I repeated right there, that ad, but it is unique. I do not know why I did not think about this sooner.

In my head, I am thinking about this now, “How easy is this process to implement?” Here I am. I love marketing. I do it all the time. We are heavy in so many different areas. Here is a new area and now my mindset saying, “Am I starting over again or is this going to be easy to implement and get going?” How easy is that process?

That is what I love about radio. It is low maintenance. The challenge is knowing how to set it up. The challenge is not to get it set up. It is setting it up in the right way, but compare it to, let’s say, direct mail. We will utilize this as an example because we did a ton of direct mail. It is a pretty light lift. It is not a super complicated thing to set up. When you look at direct mail, you have got to build lists. You got to tweak your postcards. You got to deal with the mail company. With radio, we like to call it and the best way to describe it is to set it and forget it.

How hard is it to implement? Are we talking, “I know this is something I would not want to learn on my own”? Is that coachable, easy to say, “This is your script? This is how it goes. This is what you do.”

A lot of the setup is administrative if you think about it. You have got to have the right script and go in and record your scripts. You have got to set up your play times with the radio station. I would say that about 80% of the process is simply administrative setup if you think about it. The only challenging part of radio is negotiating with the stations. That is it.

WI 356 | Radio Marketing

Radio Marketing: Radio has been around forever, but the utilization of radio to find discounted properties is still wide open. Nobody uses it for that purpose.

 

Is that something you learn on your own or do you also have the techniques and strategies?

No. This is where I find people that set up are not successful in this area. I would say, on average, most people are paying 2 to 3 times the amount for radio than we are. Let me put it in the context of buying a house. Cody, we know that the most important thing you do in the entire investment process is buying house at the right price.

If you get that right, every other domino, for the most part, will fall into place. If you get that wrong in the beginning, it does not matter what you do on the backside. You are not going to make a profit or potentially lose money. It is the same thing with radio. If you buy it right in the beginning, everything falls into place.

The challenge is most people, if you reach out to a radio station and talk with the sales rep, you potentially think they are your friend. They are working on your behalf. No, they are not. They are working on behalf of the station. They are going to oversell you, and they are going to upsell you on a bunch of stuff that you do not need. It is amazing the amount of stuff that radio stations can sell you. It is about getting rock bottom pricing. That, if I could tell you anything, is the secret sauce.

That is unique no matter what state you are in. It is not like, “I am sitting here in Dallas-Fort Worth, and I know this market, so I know how to do it.”

We are doing that all over the nation. Big city to small city. I tell you, if you are reading, if you are in a small to mid-sized city, that is even easier. One of the most competitive cities in the country for radio is Dallas-Fort Worth. You can google it and see. Our stations are massive. We have huge players advertising. We still have all of our stations at rock bottom prices. If you can do it in Dallas Fort-Worth, you can much do it anywhere in the country.

What does that look like on timeframe? We are going to talk about a couple of things, so make sure I stay on track here. We are going to talk about the ROI, the return and the numbers, but what is the timeframe from the time that you said, “This is something I want to get into?” How long before it is up and going, but then how long before you start seeing some traction and some leads coming in?

Getting it up and going, the only variable there is your negotiation skills. This comes down to human performance. If you can get in and you are a good negotiator, let’s say, from the time you started going, “I want to set up radio,” you can be up on radio within 3 to 4 weeks. Everything’s set up. That is, if you are a great negotiator, you get in, and you know what you are doing. If you struggle with that, or you get into the position of bad sales reps in your areas, it can take longer than that. It can take a few months. That is a variable depending on the person.

For me, for instance, when I got in and set up my radio station, it took me five weeks to get mine up and going. I am in Dallas-Fort Worth. It was competitive. I had to get in there and grind it out, but it took me about five weeks to be able to do that. Here is the interesting thing. You asked, “When I turn on radio, how long do I have to wait?” The actual highest call volume is within the first 90 days because the target audience has never heard this ad before. They have not heard this message. You get this massive spike, and then over time, it begins to get to where it will stay consistent.

What I like about it is you are doing deals right away. You play, and then the first week, your phone is ringing. This is all inbound. You are playing an ad and all you have to do, Cody, is answer the phone. This is called reverse prospecting, if you know that term. It is the idea that you are only talking to people who have reached out to you, who picked up the phone to call you. In my opinion, that is one of the easiest leads to convert versus chasing down someone that has never heard of you.

If you’re a good negotiator, you could be up on radio within three to four weeks. Everything’s set up.

Are you doing any other marketing channels, by the way, or radio?

No, we use several marketing channels.

When we are talking cost per conversion, money spent to how much before you get a contract. It is not unheard of to hear $5,500 cost per contract or cost per conversion. Is this one you see on a low end? Is it high-end? Where are you at when you know numbers when it says the cost per conversion? Are we paying little or are we paying a lot for those deals?

I will give you my numbers for Dallas-Fort Worth. It obviously fluctuates from city to city, state to state, and then I will speak of some of the people I have helped set up and the numbers they gave me back. We have a very big budget on radio that we advertise on. Anytime you are doing something at a large level, your law of averages is going to come down to what it should truly be. For instance, if you send out $2,000 worth of direct mail, your ROI is going to be through the roof closing one deal. You pay for that for the next year.

In Dallas-Fort Worth, for every dollar we spend, we are getting $3.50 back. Any CFO will tell you that if you are advertising on something at scale and staying between $3 to $4 on your return, that is a great marketing piece. For my buddies that I have helped set up that have smaller budgets, let’s say, they are under $1,000, $1,500 a month. They are reporting back to me at that level returns of $6 to $7. It is 1:6, 1:7. The law of averages is working in their favor. The thing I like about it is if you are spending little in the beginning and getting it up and going, that is what makes it easier to scale, is because your highest dollar per dollar return is spending a smaller amount initially.

Tell me this. This is a question I thought of on the spot. You have your $1 out to $3.50 coming back, $3 to $4 coming back, which is phenomenal. What about the room for growth? Is that something that can also scale as well? If I said, “I have a budget of $40,000,” can I find a way to spend $40,000 on radio or is there a point where it is like, “You have maxed out.”?

It depends on your market. That is what attracted me to radio because here is what frustrates me. What frustrates me is a marketing piece that you get into that works well, and then you hit a low ceiling. You can only spend so much and then it is like, “I would love to scale that more, but I cannot.” That does not happen with radio. To give you an idea, in Dallas-Fort Worth, we spend $27,500 a month.

$27,500 every month and about on average, so you  can do the math offside on this about $3.50 for every dollar spent.

That is what I like about it. It is funny. It goes from both extremes. I will tell you why people do not initially do radio. They automatically assume it is not affordable. The first station that I got in and picked up, I picked up for $1,500 a month. That was it. That was my very first station to get me off the ground before we grew. I love the fact that there is a low barrier of entry on the cost, and most people automatically assume that there is not, “I have got to spend, right off the bat, $5,000, $10,000 a month.”

That is not true. Over to the seasoned side, for someone running a bigger team that is looking for scale, the great thing about radio is you can scale it. You get the best of both worlds on both sides. You do not see that with every traditional marketing piece. That is the reason I am such a fan of radio. It has a lot of great components to it.

WI 356 | Radio Marketing

Radio Marketing: If you’re in a small to midsize city, that’s actually even easier to one of the most competitive cities in the country for radio, which is down forward, you can Google it and see, right. Our stations are massive.

 

You have talked about all the moving parts. I hope I have covered all with questions. If you feel like I missed them, please chime in. You help people set this all up. You have a way to get this going. From the timeframe, you say it can be five weeks to whatever your negotiating skills are. What about knowing the know-how of when you do it? You are letting the radio station say, “You should do this at 7:00 AM,” or is this something you already know that data that helps people understand like, “I know what time my target market is listening to the radio,” or does that come from the radio? How much is involved from you versus radio?

It is 100% on us. You are telling the radio station what to do. If anything, you are combating their philosophy, which is going to go against what is right for finding discounted properties. This is what is interesting. This is why people get in trouble. They rely on the radio station. Think about radio advertisements. You can advertise anything on radio. If I am selling a product or something like that, then that philosophy is going to look different than finding distressed properties.

A radio station does not necessarily know the best philosophy for finding a distressed property. You would not expect them to do. You can imagine how many types of companies advertise there. There is no way that they have cracked the code on that. It is all in our hands. What we do is a full blueprint. It is pretty much turnkey, all the way to the point that we help our students pick their stations. I do not know about you, Cody, but if I get coached, I do not want to make a ton of decisions.

I want to, “Step one, step two, tell me what to do, help me set it up, and get it up and going, so I can start getting a return and getting this lead source going.” I appreciate how we have structured this thing to be a complete blueprint all the way down to what you should say, how you should record it, what times you should advertise on and what stations you should be. For every question you have along the way, there is an actual formula to this process. That is what we are helping people by setting up the formula that has helped us get successful in doing this for many years.

Here is what I love. I am sitting here looking at what has helped more students in any coaching program or any mentorship program. It comes down to what you nailed. That is narrowing it down to very simple actions, broken down for someone like me who is not technical and needs it broken down so that a kindergartener can understand.

I feel like that is exactly what you do. You take the approach of, “No, step by step. Here is what it is. We are going to walk you through.” What does this look like for those out there? Let’s say someone says, “I like what I hear. I want to learn more about this.” Is it something that, with radio, it can take on a ton of students? Is this something that is territorial? What does that look like?

I am going to tell you the first decision I made and it is because I have been burned so many times by things getting saturated. We sat on this for a while. My thought has always been about preserving because I would hate for what happened to radio and what happened to direct mail. One of the things we decided from the beginning was not to saturate the market. We are running exclusivity in the territory. My business still relies on radio.

I think people appreciate that sense of exclusivity. That sense of, “Is this something I am going to get on and then all of a sudden, everyone in the country is going to be doing?” No. We said from the very beginning that we were going to preserve it. We are going to create exclusivity per market. I am glad you asked that question because that is an important point. If we can do that as an REI radio community, then what we can do is have something that is going to work for us for a long time.

Here is something great. When we met Chris for the first time, he was an individual that had integrity, an individual that cared about the success of others versus his own self. That is crucial in this market. That is crucial for how people win. If you want students to win, it is because you wake up every morning saying, “How do I help this college student get their first deal?” versus, “How do I do something that is going to be amazing? I am going to make incredible money.” This is not why he lives in Tulum because he is making hands over fist. He has a way to do this where he can do this virtually, which is really cool and unique, which we want to talk more about. This is something I am interested in.

I might be buying a little home next to yours for me and my family. I will tell you, what has been great about watching Chris is how he takes care of the client and walks them through step by step. His team is phenomenal, by the way. His team does a lot of this and it has been incredible to watch. If you are looking to say “I would like to begin a conversation, see what this looks like and see if this sounds like a fit.” Go over to WholesalingInc.com/REIRadio. That is where you can fill out a small application.

If you’re on radio or television, then you must know what you’re doing. You must be an expert. We call that “instant credibility” because people think, “If they’re on radio, they have to be an expert.”

Chris and his team review the application, see if it is a fit, and then reach out to you to further discuss if this is a good fit. What is a good fit, Chris? What are you looking for? What is a good fit? Is this someone that can be right out of the gates, gets the concept of investing or is this someone like, “We like someone a little bit savvier and has done a couple of deals.”? What does that look like?

It has been interesting. I have watched students come in. I talk with each student as they come in. It is pulling in both. The person who is new to wholesale says, “I spent $1,500, $2,000 on direct mail a month and it is not really working out.” It could be anything, whatever that is. Not necessarily DM, but I want to put that somewhere else where I feel like I am getting a greater ROI. It is for the person that is newer that wants to get out of the gate and get ahead of the competition. One of the ways to be successful, Ray Dalio says, is, “It’s the ability to go against the consensus and be right.”

What I have noticed about real estate is everyone follows everyone. Everyone duplicates everyone. There is a point that duplication is important, but there are points in your business where you have got to go against the consensus and be right. I know there are people out there saying, “I am looking for something different.” I am getting the people that are like, “I do over 100 transactions per year. I need something else.”

Part of the reason we share this is some of the pain that we went through with some of the other traditional marketing pieces that fell out on us because they got oversaturated. We know that is going to add a lot of value because our industry is hungry for something that they can rely on when it comes to lead generation. If that domino breaks down, it doesn’t matter how great your team is, it doesn’t matter anything that you have past that, how well you can dispose of property. If your lead generation process breaks down, you are in trouble.

What other things, anything that I missed, that you would want to finalize and put a big old, beautiful ribbon on top of this package that we shared? Is there any advice, anything you want to share with those reading right now?

The last thing and I bring this up because my team has brought it up so much. When I talked to them as we were going to share this as a company to the country, what were the things that we wanted people to understand. One of the things they really impressed upon me is as a company, they feel proud of radio because it is not sleazy. There are certain marketing channels out there in which we know that we are spamming people. We honestly feel a bit ashamed about how we generate that lead.

Let me tell you this. When you build a team, you might not be there yet. Eventually, that gets passed on to someone. If you have acquisition managers that get beat up because of hate calls and you have pre-qualifiers that are answering phones that are getting yelled at. You have closing managers that are dealing with people right off the get-go that are unhappy because the way you came to them. When you can set up radio and people call in and they are happy to talk to you, I have never, ever gotten a hate call on radio.

What about people living out there like, “This guy is a piece of crap? I am calling him right now.”

I can promise you, I have never gotten even one hate call. The thing I would impress is the thing that my team would say is to understand that, as an organization, it is a marketing channel that you can be proud of. It is something that you can stand behind. You will put your company name on there. You are not going to put your company name on a bandit sign. Not going to happen.

You might not even do that on direct mail. If you are text blasting people, you are not going to want your company name on there or it is going to get hated. With radio, it is not sleazy, and my team loves the fact that they can be proud of that lead source. I cannot tell you how important that is when you are running an organization in your culture.

WI 356 | Radio Marketing

Radio Marketing: One of the things we decided from the beginning was not to saturate the market. And so we’re actually running exclusivity and territory.

 

To end this, some of the cool things I had to think about it in my own head was the celebrity factor. I thought that was crucial. I thought that was something unique and cool that really no other marketing channel could develop. Cold calling and direct mail cannot market that, but radio does add that level of celebrity.

Much like when I saw those two attorneys at the Jazz game, I was sitting there thinking, “That is so and so.” I sat there and thought about it. I am like, “They are just two attorneys. They are not really celebrities.” It is interesting how Chris said our mind will tell us how these are something else. You can do that. You can build that celebrity factor.

The other one I think is crucial is the fact that we are sending out a lot of marketing. You have to send out a lot. You got to be consistent because you never know when things change. The beautiful thing about radio is they are now going to simply call you when they are ready because they have been hearing you in the background for so long that they do not need to go to the stack of postcards.

They do not need to go google you. They already feel like you are an established authority and that you know what you are doing because you bought radio space, for heaven’s sakes. When they are ready, they are going to call you. Chris, thank you so much. This has been something for me, as I have been trying to unravel my head, saying, “Getting into this, I have so many little questions.”

I hope my questions did not throw you off, thinking, “Cody, where do these questions come from?” What I love is your complete confidence in delivering the answers and then me thinking, “That is right. That is exactly what I need to hear.” This makes it look very good. In fact, we were talking before we started this about how excited I am to have this investment moving forward for 2020 for my own company here in Utah. Super excited, Chris. Chris is a go-giver. The guy is awesome.

If you are interested, it is WholesalingInc.com/REIRadio, where you can begin the conversation to see if something is a fit. If so, get ready to start building that celebrity status and awareness and get some leads that never dropped the F-bomb at you. That is something I learned. I had no idea no one calls Chris, yelling him out because I get that all the time, or at least, my team does. This will be a way we can relieve some of that stress. Chris, anything else you want to add?

That is it. I enjoyed hanging out with you. A lot of fun. Great conversation.

Thank you. God bless you. Readers, get out there, take charge and do not feel good about the knowledge that you receive. Go out there and take action. That is where you will start to change your life and change many lives out there that you come in contact with. God bless you. See you.

 

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About Cody Hofhine

WI 356 | Radio MarketingCody Hofhine, a multiple Inc 5000 Business Owner. Co Founder of Wholesaling Inc. the #1 Real Estate coaching program across the nation. Co Founder of Joe Homebuyer the leading Real Estate Franchise. A successful Real Estate investor/mentor and sought after Speaker.

Cody has coached over 3 thousand students on how to successfully Build their Real Estate Business through his real estate training as well as help individuals perform at their highest levels with his one-on-one mentoring.

Cody used his background in sales to quickly build multiple 7 and 8 figure Real Estate Businesses that all start on the foundation of clarity or Vision and Purpose.

Cody loves being with his family and doing crazy tricks behind a boat.

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