Posted on: December 14, 2021
WI 840 | SMS Marketing

 

In real estate, relationships are everything, and sales are no different. Your number one selling tool is not your word processor or spreadsheet, but your phone.

SMS Marketing is growing every year and quickly becoming one of the most popular marketing methods for real estate investors. One of the main reasons this marketing method is so effective is because you are talking directly with your target audience. Question is, “how many texts does it take to get a wholesale deal”?

Curious? Then this quick episode is for you!

Wholesaling Quicktip – How Many Texts Does It Take To Get A Wholesaling Deal

Episode Transcription

Let’s break down these numbers. You’ve got it right there. You have already prepared. What have we made this 2021 so far?

This 2021 we have made $496,765 in text deals.

How many deals is that?

It’s sixteen deals.

That’s not a lot of deals. That’s not 50, 100, 150 deals but we are averaging how much per deal?

It’s $31,047.81.

The question everybody is asking is, “How many texts does it take to get a deal?” This right here is going to be interesting because we are going to play this off. We are going to go quantity, and then we are going to talk to Ralph about quality because he’s got a different strategy there. How many per deal?

It’s 25,000 texts.

From the day that we text him to the day that we get paid, we’ve got 42 days. We’ve got an average of $31,000. We’ve got an average of 1 deal per 25,000 texts. What’s the average cost per deal?

The cost per deal is $2,220.

We have somebody specifically that texts for us. We have Tau, and he’s with Call Motivated Sellers. That’s who we also have our Phone Prospectors with. It’s a little bit cheaper than the Phone Prospectors. What is it, $15 an hour?

It’s $14 an hour.

WI 840 | SMS Marketing

SMS Marketing: If you want to use a VA that’s not $14 an hour, you have to do more work yourself. So if you don’t have the budget, that’s an option.

 

That’s fantastic. Why did we use him instead of a $2 to $3 an hour person?

He’s great at lead management and follow-up. He’s tech-savvy, and we found that he brings more deals.

What does that mean that he does follow up with text? People are responding, and he knows how to respond back?

Yes, and even if someone responded to him a year ago and then ghosted him, he has the intuition to follow up at the right time to get them back on the hook. He never dodges a lead. He’s always going after it.

He’s the lead’s whisperer.

We have one texter, and that’s it?

That’s it, now.

What do we have?

We used to have two. We had a VA from the Philippines. It’s two different strategies, mass quantity, sending out 20,000 with the VA Hub, and we are going to have to throw it throughout the leads versus Tau is good at doing it and sending good quality top-level leads.

If you do want to use a VA that’s not $14 an hour, you have to do more work yourself. If you don’t have the budget, that’s an option. If you want more baked in, we use Call Motivated Sellers. He gets a lead, what happens to lead once it comes in?

He automatically inputs it into Podio. He has a web form. The one that Raphael built.

He can literally click a button.

The question everybody’s asking us is how many texts does it take to get a deal?

It then goes to me. I look at the quality of the lead. I checked to make sure that it’s not pending on the market.

What does that mean the quality of the lead?

Quality of the lead that it has at least 1 of the 4 pillars.

What are the four pillars?

It’s price, motivation, condition, and timeline.

We used to try to get all four of those over texts, and the conversation fizzles out. You are trying to have a high-quality conversation via text. They are going to be going to work and doing who knows what. As soon as we get that one strong pillar, we are trying to get them on the phone, and your acquisition managers are more talented or you. You are more talented. Get them on the phone, and you develop that rapport.

We do have MLS access, and not everybody does have that, so we can see who owns it. “Does that match the name of the person we were texting? Did they buy it last month?” That’s our huge concern.

You can check on PopStream TTP Data. You can check if it’s active on the market. That’s the nationwide MLS.

It’s making sure that the lead, who they say they are matches up a little bit but even if it doesn’t, sometimes I will have one of our guys call it because you never know the story. Everyone is going to be like a wholesaler that we can then partner up with, who doesn’t own the property but has it under contract. I’m making sure that it’s not a crazy wonky lead.

WI 840 | SMS Marketing

SMS Marketing: The key takeaway is to get them on the phone and build that relationship.

 

There have been a couple of leads that have scammed us. I’m like, “We are not going to call this guy again because we have called him 6 times and 1 time we tried to show up,” and then he said, “I’m going to waste your time like you wasted mine.” It’s a quick check to make sure everything looks good, and then it goes straight to our acquisition managers.

Have we ever done a deal where we didn’t talk to them where it was all texts?

Nothing, no.

We get them on the phone. We’ve got to see if they’re serious. That’s the key takeaway. Get them on the phone and build that relationship. How does Tau not get burnout from sending out texts and responding all day?

Tau only works 30 hours a week, and we give him the flexibility to choose his hours. We know that there are some great times in the mornings and evenings. He works in the restaurant industry.

He’s a bar owner in Nicaragua or some Central America country.

He has a full-time job, and he squeezes it in the mornings and evenings. He can do it during his lunch break if he wants.

If you are interested in joining the most proactive group in real estate investing, it is the TTP Program. Go to WholesalingInc.com/ttp, scroll down, check out the hundreds of testimonials and what the program is about. If it feels good in your guts, then sign up for a call. I look forward to working with you personally.

Important Links:

Leave a Reply

Your email address will not be published.

[class^="wpforms-"]
[class^="wpforms-"]