Posted on: March 11, 2020

Regardless if you’re a new wholesaler or a seasoned one, you’ve probably wondered if you’ve left money on the table at one point or another. Fortunately, today’s brilliant guest can help ensure no leads will ever go to waste again, even the seemingly “dead” ones.

Chris Craddock is a determined, creative, and exceptional real estate agent who has mastered the art of converting retail leads. Chris has been active in real estate since the early 2000s.

Chris started his real estate journey by flipping houses and made 12 times more than he made in year. It’s safe to assume he’s been hooked on real estate since then.

In today’s episode, Chris shared many helpful steps and insights on how you can successfully convert retail leads so you’d never leave money on the table again so make sure you tune in!

 

MARCH CONTEST ANNOUNCEMENT!

For the entire month of March, Wholesaling Inc is running a Ratings and Review contest! We’re going to fly out 3 lucky winners to Florida, paying for airfare and hotel, to spend to full days with Tom Krol!

Whether you are trying to land your first deal or scale your existing Wholesaling business, Tom is going to help you crush your obstacles and achieve your goals!

And the lucky winners will all be featured as guests on the Wholesaling Inc Podcast!

To enter, you must Rate and Review the Wholesaling Inc Podcast on iTunes (5 stars please:) and send a screenshot of the Review to Darrin at darrin@wholesalinginc.com.

3 winners will be chosen at random and announced on the Podcast in April! Good luck!

 

Key Takeaways

  • How he cracked the code in terms of converting retail leads
  • Upsides of the model
  • Percentage of retail listings he does over the phone
  • What he’ll recommend to those who are not licensed real estate agents
  • Three options for real agents who are not licensed
  • Range one should charge as a commission
  • What a good sales person does
  • Split you should negotiate for if you provide the leads
  • What a value specialist is
  • What the edification technique is
  • Why understanding the seller’s real pain is crucial
  • How to find a good licensed agent
  • Key characteristics to look for in an agent
  • What the D personality style is
  • Where people can go to find out more about his technique
  • His advice to those who would like to try his system

RESOURCES:

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Episode Transcription

Cody Hofhine:
Hey guys, Cody Hofhine here, before we get going with today’s episode, I just want to make sure you’re aware of the contest that’s going on for all of March, where three lucky winners are going to have a wholesaling business experience of a lifetime. So for the whole month of March, what we’re doing is a special ratings and reviews contest, where we’re going to select three lucky winners, where we’re going to take care of all their accommodations, their flights, their hotels, and you’ll spend two full days with the head rhino himself, Mr. Tom Krol. Imagine what this would be for your wholesaling business, whether you’re just beginning or you’ve already done some deals, but think of what it could do for you, if you’ve spent two full days with Tom Krol in sunny, Florida, and all the accommodations were taken care of, what would your year look like?
Now, to enter into this contest for this ratings or reviews, we want you to go over to iTunes and give us a rating and review, five stars, please, and take a screenshot and send that screenshot of the review to darrin@wholesalinginc.com. That’s Darrin, D-A-R-R-I-N at wholesalinginc.com. Now, if this isn’t enough, we’re also going to feature the three of you on the wholesaling podcast. So while you’re down there, Tom’s going to put you in the hot seat. So get ready, head on over to iTunes, do the ratings and review and just simply take a screenshot of the review. Send it over to darrin@wholesalinginc.com, that’s Darrin, D-A-R-R-I-N at wholesalinginc.com, so that we can pick out three lucky winners to go head down and spend two full days with Mr. Tom Krol. Now let’s get going with today’s episode.

Chris Arnold:
Welcome to the Wholesaling Inc podcast. America’s number one podcast for new real estate investors were finding discounted properties is the most proven way to financial freedom. I am your host, Chris Arnold today, and we’ve got a topic actually that I’m pretty passionate about today, and are talking about retail leads and the money that we as investors are leaving on the table when we throw these into the trash. So if you’re new to real estate, let me break this down. Every seller that comes to you will fall into one of two camps. Either they’re going to want a cash offer because they’re motivated, they have equity, they’re ready to go. Obviously you want to tie those deals up, but you are going to get leads, and it doesn’t matter if it’s direct mail, radio, whatever, where they’re just not as motivated.
They might not have as much equity. And really the best solution for them is to list the property on the MLS and for you to receive a commission or as we’re going to talk about, maybe even outsource that to an agent, if you’re not. Now, I’ll tell you three things I’ve realized, either, number one, if you’re listening, you think that retail leads are trash. And we are going to challenge you on that today, because my guest has cracked the code on how to convert these. And these are leads coming in directly from everything that we do to get motivated sellers.
The second camp understands they’re leaving money on the table, but they’re struggling to convert these leads from coming in as cash and over to retail. And then thirdly, which is far and few between, are people that have mastered this. And my guest today, Chris Craddock is the go to guy on retail and how to convert these leads. And we’re going to give you the practical steps you need today to be able to do that. So Chris Craddock, my buddy, what’s up? Welcome to the show, man.

Chris Craddock :
What’s up brother? So excited to hang with you today, man. Always fun. Love the energy you bring and love just hanging with you, man. It’s great.

Chris Arnold:
Awesome. Well for people that might not know you, tell us a little bit about you in a nutshell, where are you at? What you do? What’s your story?

Chris Craddock :
Yeah, I’m right outside the DC area. Got into real estate. I worked for a ministry making 20 grand a year, which I loved until my wife got pregnant and you can’t live in the DC area with 20 grand a year. And so I started flipping houses in the early 2000s, made 12 times what I made in a year, in four months. And I was like, dang, this is sweet. And just through, off and on, being involved in real estate, I guess 2012 started more investing stuff again. And then I moved into more retail with a strong tie in with investors, because of the investor and retail marriage together, I think we found some ways to make a lot of money on leads that a lot of people have just been throwing away.

Chris Arnold:
You and I have that in common, because I actually started on the retail brokerage agent side, however you want to call that, before I moved into the investment side. So you and I look at real estate a little bit differently, because we’ve been in both worlds and are currently in both worlds. So I want to talk about the background on this model, right? You have cracked the code on how to convert cash offer leads that we generate when they want to go retail to make that transition, give us a story. How did this model even come about? How did you start to crack the code on it?

Chris Craddock :
Well, see, it was interesting. So there’s two separate sides to this. The first one was, there was this guy who was just charging a fortune to come into his program where he was going to market for you, for agents that could either do cash deals or close the leads. And so a bunch of people came into his program. Nobody was converting to what he was doing, except for me, I was converting a lot of them. And I ended up starting to run a lot of the meetings that they were having. And eventually I was like wait, this is it, I don’t want to pay to be part of this program anymore. If I’m the one converting these. And so things slowed down there. And then there was this massive, massive wholesaler, one of the bigger ones in the country, they’re just doing a lot of business and I kept calling him, I was like, guys, give me your leads. Come on. Let me show you how this works.

Chris Arnold:
Now, this wholesaler was not doing anything with their retail leads. They were generating a ton of leads, spending a lot of money, but weren’t doing anything with those that wanted to list their property?

Chris Craddock :
Well, they’d been giving him to this person who is, I mean, she had a pretty massive business herself, top 200 wall street, top 200 or top two 50 for real estate agents. She closed six leads out of the thousand they gave her. So they just didn’t care. They’re like, Oh, whatever, it’s a distraction. We’re not making any money. They just didn’t care about that. And so I just kept calling and calling, anybody that knows me, I’m relentless. I don’t like to give up. And so finally they said, one of the guys was just like, look, we’ll send you some leads. He sent me 150 leads. 70 of them had already listed with an agent. 30 of them were out of area. I had less than 50 leads to deal with.
And I’m like, okay, she got six with a thousand. I got to get six with these. I just went at it, got creative, refined some of the scripts and some of the offers and some of the ways we could land them, I called them up and I was like, “Hey bro, I got six listings, they’ve all closed or they’re all in the process of closing.” And he was just, “You got six of them?”
He’s like, “Bro, I just gave you those to shut you up and leave me alone. And he’s like, “Because you just kept calling me and wouldn’t stop bugging me.” He’s like, “Come in, come in.” So then we, I came in and we started meeting and they started sending us a lot more and our conversion ratio has gone Honestly, we’ve just been working on refining the whole process for finding our script or finding the offers. And that’s how we got here. It’s been good.

Chris Arnold:
That’s interesting. So now this wholesaler is sending you all of these retail leads, let’s actually talk some numbers here. You and I were talking about this. How many listings did you get from this wholesalers leads that you listed in 2019?

Chris Craddock :
So between them and there’s some smaller ones, but just over a hundred listings last year.

Chris Arnold:
Over a hundred listings last year from wholesalers that were taking those leads and not really doing much with them didn’t care.

Chris Craddock :
Absolutely.

Chris Arnold:
Let’s put that into perspective of volume. How much volume is that roughly?

Chris Craddock :
Oh man. Now you’re going to make me do some math. So the volume, last year we did just under 120 million in volume. That was about a quarter, over 20 million in volume.

Chris Arnold:
Wow. I love it.

Chris Craddock :
Right around 20 million in volume.

Chris Arnold:
Okay. So what is the upside of this model? If someone’s listening and they’re like, why should I consider this? I mean, hopefully you bought onto the fact that there’s money sitting on the table for wherever you at, but what have you seen as the upside to this model?

Chris Craddock :
Oh my gosh, is the biggest win-win in the history of time. Right? You look at it, I just talked to investor… I live in the investor world, as well as the retail agent world. And I talked to investor after investor. Who’s like, I’ve been giving agents, this and this, I’ve started my own brokerage. I’ve done everything. I’ve spent money on this. I’ve spent time on this. It’s just not worth my time anymore, because they give it to agents, and these agents don’t know how to approach it.
They don’t understand the marriage between this. They don’t understand the psychology, somebody that calls an investor to buy their house is not the same person that wants some agent to walk over and crack out their listing presentation, because they’ve all gotten uncle’s, brother who also cuts hair and is a real estate agent that will help them, if they want to talk to a real estate agent. They want a quick, easy, fast transaction.
They want something that is not the traditional real estate agent, because they know, it’s just like, we all know if we sell our car, right. Go to Craigslist and you’re going to sell your car for more money than if you go to the dealership and trade it in. But why do people go to the dealership? Because they want ease, they just don’t want the headache. That’s why people call investors. They don’t want the headache. I mean, anyway, we know the reasons why they’re calling.

Chris Arnold:
So let me ask you this. What percentage of these retail listings you’re taking are you doing over the phone versus having to go out to the property?

Chris Craddock :
Well, as we’re building out our system last year, I took most of them over the phone and almost all the ones that are short sales, I’ve taken over the phone, because bottom line is you can close over the phone if you know… The main thing is, I was just listening to a leadership thing this morning. I’m talking about anticipating, the main thing is, if you know every single objection they’re going to have, and you answer their objections before they have it, before they dig in. And all of a sudden you’ve answered every objection that they have, you can close them over the phone, you know what they want, you give them what they want and say, all right, let’s do it.

Chris Arnold:
That’s huge. So not only are you taking advantage of making more capital on the leads or revenue, you’re not even having to leave your office to do it. Now, there’s a couple people listening. Obviously the person that’s listening as an investor, as a wholesaler, that has their license, they’re going, okay, I get this. Now, what would you say to the wholesaler that’s listening, that’s generating leads going, okay. I don’t really have an interest in getting licensed myself, but I hear what you’re saying. I’m not doing anything with those retail leads. What do you recommend for that investor to consider, that’s not a licensed real estate agent?

Chris Craddock :
Most of the investors that I work with, either are licensed, have somebody licensed on their team. The other pieces is just get together with somebody that is as good at what they do. And again, just because they’re good at what they do, doesn’t mean they know how to convert these types of leads. And then find a creative solution, because obviously, the real estate rules and regulations, you’re not allowed to give referrals to non-licensed agents, but there are ways that you can buy marketing. You can do different things. There’s just creative solutions to everything, where you’re not giving a referral or a kickback to somebody for giving a lead.

Chris Arnold:
All right. So there’s three options for those that are listening, right. I can either get licensed myself. I might say, I don’t want to get licensed, because I don’t want to have a fiduciary duty and have to disclose that, not interested from a legal standpoint. Number two, I could get someone on my team licensed, that works for me and not have to carry that license myself or thirdly, I could say I’m just going to stay away from licensing as a whole, as myself or my organization, and I’m just going to find someone outside of me to partner with, that’s licensed to take these leads. So those are the three options. Is that correct?

Chris Craddock :
That’s correct. And what I’ve found is, a lot of times staying in your lane. So our conversion ratio, I had a pretty darn good conversion ratio of the phone last year, but our conversion ratio went up when people got in front of the sellers. Now we had a darn commercial ratio last year, but get in front of the seller. So I’ve been training our agents to get in front of the sellers and do that. So as their conversion ratios have gone up, we’ve been seeing that, allowing the wholesalers, the investors to stay in their lane and let us stay in our lane, just because, you go in and you offer somebody about 200 grand or 150 grand or 50 grand under what they would get on the open market.
It is hard to come back from that and then say, well, I can list it for you too. So that’s where I think being able to work together, once you figure out where they are going to be, because, we all know you don’t want to walk into an appointment blind. You want to know what they’re looking for. It’s rare that you walk in and all of a sudden somebody wants a certain amount and then they’ll go 50% less than what they’re asking for.

Chris Arnold:
Yeah, exactly. I have a couple more questions around this, a little bit more practically. If I do have a license or I get someone in my company license and we go out and list these properties ourselves, if you don’t mind sharing, what’s the range that we should be charging as a commission. Is it your traditional 6%?

Chris Craddock :
Well, I almost never get 6%. I get more.

Chris Arnold:
More than 6%?

Chris Craddock :
On almost all of them. And here’s why, if you understand how you’re walking in, if you understand it, you understand that they have a problem. So, you’re a doctor, right? I’ve had three shoulder surgeries on my left one and one of my right. I had to go back in, cause I jacked up my shoulder again. Doctor starts doing all these tests on my arm, literally all these tests, does this hurt? Does this hurt? No, no, no. He does something called the crank test. He says that, I squealed a little girl and he’s like, “I guess that hurts.”
And then he does it again. Right? So he finds the pain, he pushes on it a number of times and then he’s able to diagnose it and then provide a prescription. For me sadly, it looks like maybe another shoulder surgery, but that’s what we do with these sellers. Right? That’s a good salesperson. You find the pain and then you push on it, over and over and over again. And then you say, I can solve that problem for you. Here’s how, and you just go through the whole process, you solve their problem. And as long as they’re getting the solution to their problem, I’ve charged 9% commission. It doesn’t matter. As long as they are getting a solution to their problem, you can win.

Chris Arnold:
Wow. That’s huge, because I think most people are thinking, well, I got charged 6% or discount this and this strategy in order to beat out an agent, but you’ve come up with a way strategically to get in and actually charge more than six. You said seven, maybe eight, maybe 9%. And that’s actually getting into more wholesale numbers in the sense of percentage, because 9% of, right, a $200,000 listing, that’s not bad. That’s equal to what we get on the wholesale side.
So second question for you, I’m listening and I’m going, I’m not going to get licensed, but dude, I’m all over this. I’m going to go find an agent that I trust to JV with what should my split be if I’m providing these retail leads that I’m generating, right, via direct mail or ringless voicemail, et cetera, what should that split be, that I should negotiate for?

Chris Craddock :
It just all depends. What are you doing? Are you setting appointments for them or are you just giving them the leads?

Chris Arnold:
I think most people would just say, I’m just going to give them the lead.

Chris Craddock :
Right. And see, what I would say is part of the system that we’ve worked to build out, a system that I’ve really been perfecting is, when you set the appointment, it ends up being better and you can also charge more when you set the appointment, because you’re on the phone or your DA, or your specialist, whoever it is that’s taking the calls, is on the phone and they’re either going to set an appointment for themselves. They’re going to pre-qualify them out or they’re already on the phone, why wouldn’t they just set an appointment for whoever you’re partnering with? You can charge more money, if you just give them the lead, I’d say it’s 25% is what you’re looking at.

Chris Arnold:
So you hand the lead over, you don’t set the appointment yourself. You can get 25% referral back, right? And then, let me ask this question. If you do go ahead and set the appointment and not handle lead, when an appointment to the agent, what could you maybe get in that circumstance?

Chris Craddock :
The sky’s the limit, anywhere from, I’d say 35%, is if you’re doing enough, if you’re just giving one here and there, but if you’re giving a number of leads, 35%, you can even go up to partnering, 50, 50, if you’re you’re doing a value, but-

Chris Arnold:
That range could be 35 to 50, depending on how far you take that lead down the road before you pass the baton to the agent. So each person can consider that. But I would imagine the wholesaler that you’re working with, the main one’s, probably pretty happy with the return they’re getting.

Chris Craddock :
[crosstalk 00:18:51] leads, so they’re going to get well over a quarter million dollars in return this year.

Chris Arnold:
They’re going to get over a quarter million dollars in additional revenue from leads they pass to you that were retail, that otherwise they might’ve been just throwing in the trash or fumbling themselves? That’s huge. And that’s what I see, Chris, that’s kind of my deal, when I talk to someone and they go, I don’t really those retail leads, don’t know what to do with them. I’m going ding, ding, ding, you’re leaving money on the table.
Do you realize that, take a different look at it, because there’s a lot of money to be made around this. So let’s get into how you convert these practically, right? Give some tips and tricks, if you don’t mind on what’s the process, a little bit of the magic behind how you’re doing what you’re doing.

Chris Craddock :
Well, the reason why, I’ve created 17 steps that we go through. So I’ll just go through a handful of them, because I know we don’t have like, we don’t have five hours to go through it all. But here’s the biggest, the biggest key, if you can get your head around this, this is why everybody’s so shocked about the commission statement. You were just shocked about the commission statement. This is why everybody’s so shocked, because everybody thinks you’re coming in as an agent. As soon as you come in as an agent you’ve lost, you’ve lost.
You’re going to get what everybody else gets. You’re going to get a small conversion ratio. When you come in as the person, they’re calling somebody, they’re calling a cash buyer, right? They’re calling somebody in that can make stuff happen. And for whatever reason, their pain or their perceived pain, when you walk in as the solution, as the person, the doctor with the prescription, you can get them what they want and you can charge whatever you want. But that’s the whole thing. The second you walk in as an agent, everybody’s got 14,000 friends that are agents, right? They don’t need you.

Chris Arnold:
So if you’re not walking in as the agent, how are you presenting yourself to them? Because you’re going, Hey, cash offers not going to work, but I mean, how do you make that jump? What do you call yourself?

Chris Craddock :
You’re a value specialist.

Chris Arnold:
Value specialist.

Chris Craddock :
I love that, where you’re working with, you partner with the investors, right? So you’re coming in, partnered with the investor, you’re walking… And in sales we’re familiar with the law of edification. The edification technique in sales, right? Where Chris, you could say, Hey, I’m Chris Arnold. I’m the best at this. And everybody would be like, Oh, you sound a douche. But if I say, Hey, Chris Arnold is the best at this. Everybody’s like, yeah, Chris probably is the best of this.
And so that’s that whole thing where somebody else can speak really highly of you, and you walk in as the expert already, you walk in as somebody that has, because they called in or whatever the response was, they wanted to meet with somebody. So you’re already walking in as the expert. Right? So, you’re walking in with permission to walk in and do that. If you’re an agent and 10 other agents have walked in, whatever, you’re coming to solve the problem that they have agreed, they want solved.

Chris Arnold:
Got it. So, number one, don’t identify yourself as the agent, identify yourself as an evaluation specialist to separate yourself from all the other agents they might be talking to potentially or no. What’s number two?

Chris Craddock :
Well, a licensed agent has to identify their brokerage, but you can say it and pass, like, I’m also licensed with whatever, but you’re not coming in as the agent.

Chris Arnold:
You’re not identifying yourself, but you are disclosing the fact that you do have a license, but those are two different things, right? A lot of investors have licenses and aren’t even agent. So what’s the second thing that we should understand about making this conversion?

Chris Craddock :
The second thing is you got to understand their pain, right? If you don’t understand their pain, everybody’s going to, I mean, and everybody on this podcast, that’s closing at a high level, understands a real reason and the smoke screen, right. They’re going to give you 10 reasons why they want to sell or whatever, for me, and here’s an example, when my shoulder was hurting, my lower back started hurting. Right? So I go into the doctor and I’m getting my shoulder looked at, but I mentioned my lower back. He doesn’t care about my lower back, because the reason my lower back was hurting is because I’m holding my shoulder a little bit off. Right?
So, the real pain is my shoulder. You fix the shoulder, all the other stuff falls into place. And so when you’re there, you’ve got to be able to identify what is their pain. I want a quick sale. I don’t want people coming in. I don’t want my neighbors to know. I don’t want to clean up, whatever the pain is. You find out what their pain is and then you solve that pain. They’re going to give you 10 reasons why they’re selling, or maybe their pain is they want to move to Florida with family. And they want to be there fast, you got to figure that out and be able to identify that for them.

Chris Arnold:
Let me throw an example here. So I’m going to throw you a little bit of a curve ball. You’re talking with someone and they go, you know what? The listing route is the route I want to go, but number one, I don’t want to come in and fix up my house for the MLS. And number two, I don’t want people tromping through my house either. How do you solve that, if you go the agent route?

Chris Craddock :
This is the greatest thing ever. So actually one of the guys that I just trained was in an appointment, who she worked for a brokerage for 15 years. Most of her best friends are agents. And she’s like, if I’m going to list it, I have to work with one of them or they’ll hate me. And so he’s like, but here’s the difference. We can list it every other agent, but we have our model. Our model is separate. You don’t want people coming in. We’ll do our open house, our investor open.

Chris Arnold:
So you’re willing to go about whatever their need is and adjust the back end on how you treat them. Whereas the agent she’s going to throw them on a centralized showing, put a lockbox, a sign, because that’s what the agent is trained to do. That system is built. You come in with the system that’s customized to go around whatever pain point or preference they have. I love that. That’s a great, great point. So give us a third technique, if you don’t mind, give us one more technique on how you convert these.

Chris Craddock :
So a third technique is, if people have, let’s say, here’s a big, big, big one. A lot of times people have just so much junk and they’re like, Oh my gosh, I don’t have time to fix all of this. I need an investor buy it, because I need to sell it as is. So the third technique is this, that we’ve got a couple contractors that, if we can’t sell it as is or if there’s something that needs to be done, everybody’s so scared of moisture, right?
So we get a contractor that will come in and the roof has a leak. All right, well, we call our homeowner help program, right? Where the contractor will come in, fix the roof leak, fix the things that are going to cost like, five, $10,000 worth of damage that will cost us $400 to do. And we’ll get the contractor to do it now and get paid at closing. And if we’re getting a big enough commission, I’ll just pay for it upfront and get paid back at closing, whatever.

Chris Arnold:
Interesting. So you’ll come in and handle some of those repairs, because you feel the juice is worth the squeeze and you’re minimizing the risk. Interesting.

Chris Craddock :
Absolutely. I have one right now, where she was going to work with an agent friend of hers and she was going through a divorce and going through a number of different things, her house was just a disaster and she’s like, I can’t sell it like this. And so I took a massive commission on it and I was like, look, here’s what I’m willing to do. We’re going to sell it as is. And if it doesn’t sell as is, then I’ll come in, you’re moved out. I don’t want to do big, massive fixes unless people have moved out, because it’ll get back like it was, right? And so you’re moved out. If it doesn’t sell as is, then we’ll come in, we’ll do all this stuff, we get paid back at closing, plus 10% of whatever we have to spend and also some piece that to the contract.

Chris Arnold:
So what’s interesting that I observe is, you look at these deals, not an agent does, but as an investor. And you’re doing obviously creative options based on whatever situation they’re in, which again, the typical agent’s not going to do. So what I hear you doing is, you’re coming in and providing a listing service, but you’re doing it coming in thinking like a creative investor. How can I structure this deal? And again, you might charge more commission. You might negotiate this to do some repairs upfront, protect yourself, et cetera, but it almost sounds there’s some really creative techniques that you come across each deal and the particular way that a solution is needed.
And again, if you’re listening right now, the big conversation that you’ll continue to hear happening is, how are you identifying yourself as an investor and as a company? Are you just a wholesaler or are you a solution oriented person that comes in and says, you know what? Regardless of what the outcome is, I’m here to provide the best solution for you, rather than getting locked into the fact that, well, the only solution I have in my pocket is to do a cash offer.
And the more diverse you can make yourself and being solution oriented, the more likely, obviously your conversions are going to go up, right? And the more money you’re going to make, because you can look at both in different way. So let me ask you this question then, right? You gave us three great techniques to consider, and people are listening on one of two camps at this point, either I’m going to do this in house, and I’m going to figure out a way to build a system for me to list these, or I’m going to outsource this to someone else.
Let’s start with the outsourcing, right? I want to go find a partner to do with this. How do you find and know that you’ve got a good licensed person? How do you find that person? How do you identify that person, even know that they’re going to do a great job and not drop the ball on these leads, if we give it to them?

Chris Craddock :
That’s been the problem, because I think almost, everybody that’s spent much money on marketing has thought about this or tried it. And it just hasn’t been successful, which is why people just throw it away. Right. The system has not been proven well. So one, you got to find somebody who’s creative, is going to work hard with it. Second,, honestly, this is part of the school where we’re teaching agents how to do this, the product that we have, so that the agents can learn the steps and the process with it.
Because I mean, just think about it. It does not take much, one deal can start changing the whole trajectory of your year. Especially if you think about marketing, if you get even a 3X ROI on your marketing, just think about what happens, if you get $200,000 back into your company, right? If you get-

Chris Arnold:
You can zero base your marketing, just based on the retail leads coming in, and what you make on the investment side is just pure profit. That’s probably the ultimate goal, right? The way you think, how can I zero base my marketing expense via retail and allow the wholesale fix some flip side to be just straight revenue. That’s a great way to look at it. So again, if someone is looking for an agent and doesn’t want to do this themselves, right, make sure that agent is creative. What would be maybe two more characteristics about that agent to look for?

Chris Craddock :
I’d say, make sure they’re creative. Make sure they’re hungry. Make sure they won’t take no for an answer. And also it’s got to be somebody that’s got a high EQ as well. What I’ve found is, on the DiSC profile, a lot of times you see a lot of agents that are closing at a high level, high Ds. A high D personality is really important, but a lot of these people are hurting and there’s stuff there. So if you’re able to walk in, hear them and relate with them, so they feel they can trust you. You can walk in and you can close, time after time after time, because you’re there to give them a solution to their problem.

Chris Arnold:
And if you heard, then you’re like, what is a high D personality? That comes from the DiSC profile, D-I-S-C, which is simply a profile that lets you understand how someone behaves. And if you hear high D, that usually means that person is very motivated, very driven, very aggressive, right? That’s a high D personality. If I could bottom line that, they’re a bulldog, they’re closing, that’s a high D if you’re like, what is a high D?
So Chris to the other people that are listening, going, you know what? I feel I should do this in house. Either I need to get licensed, get someone on my team licensed, but I don’t know how to train them. This sounds fantastic. But you got 17 steps. You gave me three. I’d love to know the rest. If someone’s listening, going, do you provide any training or help or assistance or coaching on this? What does that look like? Where could they go to potentially find out more?

Chris Craddock :
So my website, just my name, Chriscraddock.com. They can go and register. I’ve got an agent training site, essential or agent training program, where they can sign up to get in. They’ll get all of the steps in order to close, in order to understand all of the sales techniques of closing these type of deals. And frankly it should also help them in their business to close other deals as well. Because if you can sell, you can sell. If you can identify problems, you can sell. So, chriscraddock.com. You’d be able to do that and honestly create a great matchup between the investor and the agent that can help everybody monetize. So whether it’s in your organization or if you’re getting paired up with another agent as well, honestly you can put-

Chris Arnold:
Tell the other agent to go through your course, just for people listening, this is of course, obviously I understand that you’re providing, that not only trains the investor on the other side and trains the agent as well. So it doesn’t matter who you are, it’s the same 17 steps that you need to follow. So, Chris, this is fantastic. Any last thing you’d like to leave with the audience to consider, maybe a last nugget, last thought on this whole concept about not throwing these retail leads into the trash?

Chris Craddock :
I mean, literally this is probably hundreds of millions of dollars of investors across the country, that I just talked to, all the time, they’re just throwing these leads away. You can literally zero base your marketing. You can win at a high level, but again, just because they’re a good agent, it’s just like going to a good doctor, right? You go to a good physician. I’m not going to go to my physician if I need to have heart surgery, right? You need to go somebody that understands these kinds of deals, these kind of sales.
And I can promise you, I’m sure tons of people that are listening to this right now, have tried this and failed and said, I don’t want to put any more time. I don’t want to put any money into it, anything else? So that’s why we’ve created this process that we’ve proven, I personally done it. I’ve taught other people to do it and we’ve proven it, so that people can actually monetize it and know this is going to work if you follow this process, if you walk in and know that this is how I have to frame the argument, this is how I have to set it up, and you can zero base your marketing.

Chris Arnold:
Absolutely. No, it’s fantastic. And I think that you’ve definitely identified, you and I have talked about this, a pain point that’s out there, but underneath that pain is a huge opportunity for additional revenue for all of us. And also if you’re listening in, of course, you know that right now we are teaching people also how to refine distressed properties, utilizing radio, Chris, I know that that’s something that you want to be able to launch this year. You and I have talked about that.
And so right now, if you’re processing going, what am I going to do this year to find more discounted properties? I’m a little nervous about ringless voicemail regulations and that type of stuff, or my direct mail is getting saturated. If you want to know more about radio. And, again, when we advertise on radio, Chris, we get cash offer and we get retail and we have equipped ourselves to make money either way. Doesn’t matter to us. If you want to cash offer, we’ll give it to you. If you want to list it, then we’ll list it for you.
And so, man, it doesn’t matter what you’re doing, you want to be able to be by vocal on that. What I mean by that is by vocational, in the sense of being able to wear either hat. So if you’re interested in radio, definitely book a call and ask more questions at wholesalinginc.com/reiradio. And Chris Craddock, thanks so much for coming on, addressing a huge problem in literally our entire market right now.
I cannot believe how many times I have this conversation with people, and more importantly, congrats on really cracking the code on this thing, somebody to do it and we’re glad you did it.

Chris Craddock :
Well, thanks for having me brother. You are a stud. Anybody is just blessed to be in business with you. So I’m glad you’re doing the radio piece. It’s awesome, you’re a stud. I love hanging with you, man.

Chris Arnold:
Awesome. All right, thanks so much for joining the show and we will catch you next time. All right.

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