Updated about 6 years ago on .
How Many Touches Contacts To Get A Seller To Sell? (Off Market)
As real estate investors going direct to seller we are constantly looking at our data for ways to improve.
This month we ran a data analysis project on the past 60 off-market deals we've done. Our goal was to identify for our team how many touches are needed to convert a new lead to a closed deal.
Definitions:
Deal: A property purchases at 75% - repairs -10k. The exit was either wholetale of new rental for the portfolio.
Touch: For the sake of this research we labeled a text, follow up call, appointment, and offer one-touch each.
*Note: If a follow up call was made a voicemail left this only counted as one touch. We also counted the initial call in as a touch.*
The data:
Our average deal required 10 touches.
Upon auditing our data for August we noticed that our team had 61 leads that were touched 9 times or less. (On 90 other leads they had exceeded 10 touches.)
I share this data so that new investors going direct to seller can start to understand what to expect in workload. I find that folks almost always underestimate the amount of effort it's going to take.
I'd pose the question to you I posed to my staff...
How bad do you want it? Are you going to average 10 touches or more? Are you content with losing deals to competitors because you dropped the ball?
The fortune is in the follow-up!