Best Practices for Hiring Cold Caller and Acquisition Manager

14 Replies

Hello, I am currently doing long distance flips in Pittsburgh, PA and I am from Long Island, NY. I have found all my current flips on the MLS and want to start building a system for deal flow in order to grow. How have you guys grown from one deal at a time to multiple deals?

My initial thoughts are to hire a cold caller, providing them with lists and scripts to qualify sellers. If they have potential I would like them to be sent over to a friend of mine (who's in sales and recently got his real estate license, he's got the perfect personality for this) to try and close the seller. Hoping to keep the deals we want for ourselves, we can wholesale ones that don't work for us and if the deal doesn't work for an investor he can potentially get the listing for sale on market. We would also run a text campaign, some SEO and some targeted mail. Cold caller I assume is an hourly wage? And I'm thinking my friend and I work out a split for anything that's wholesaled and if it's a flip or rental I keep I would just give him an agreed upon commission for it? 

What have you guys done?

I don't even know of any markets where you can currently flip off the MLS. Maybe 10 years ago. Occasionally 5 years ago. What you're asking about is the hardest part of the entire process. Don't think you're just going to hire someone to get you deals

Originally posted by @Philip Coiro :

Hello, I am currently doing long distance flips in Pittsburgh, PA and I am from Long Island, NY. I have found all my current flips on the MLS and want to start building a system for deal flow in order to grow. How have you guys grown from one deal at a time to multiple deals?

My initial thoughts are to hire a cold caller, providing them with lists and scripts to qualify sellers. If they have potential I would like them to be sent over to a friend of mine (who's in sales and recently got his real estate license, he's got the perfect personality for this) to try and close the seller. Hoping to keep the deals we want for ourselves, we can wholesale ones that don't work for us and if the deal doesn't work for an investor he can potentially get the listing for sale on market. We would also run a text campaign, some SEO and some targeted mail. Cold caller I assume is an hourly wage? And I'm thinking my friend and I work out a split for anything that's wholesaled and if it's a flip or rental I keep I would just give him an agreed upon commission for it? 

What have you guys done?

 As someone that receives 100s of pieces of marketing, texts, and calls in a given month I can tell you that I put everything I get from some sort of automated caller/mailing system directly in the trash or just lose/block the number. If I get a piece of mail designed on some yellow letters site it is immediately going in the trash because it screams newbie, that won't close on my deal or offer me a fair price. IF I sell off market (and I have before) then I want to be dealing directly with the actual buyer, and I have no reason to work with a wholesaler. 

So my advice is to keep lead generation on your own. If an actual investor calls me that is looking to buy one of my properties then I am more likely to actually have a discussion and if nothing else we both build our network. However if I get something totally cold from some call center I'm immediately hanging up and blocking the number. 

Additionally with my own company we have designed our own letters and our own website that look a bit different from the typical marketing strategy out there. We've gotten a lot of calls back from prospective sellers just because they trust that they are working with the actual buyer and not a wholesaler or newbie that isn't likely to close the deal. 

I'm looking for a different type of property than you because we are looking for commercial buildings, however when I was looking at single family homes and acquiring properties in that niche I will say that it was the same type of stuff that worked. Authenticity goes a long way in a crowded market.

So you are going to hire a cold caller to optimize your time but waste mine. I get 50 texts, calls, snailmails a week from someone looking for a desperate, uninformed person to take advantage.  I can't swing a dead cat without hitting someone looking for the lazy way to make a fast buck in RE.

Originally posted by @Philip Coiro :

@Eric James

I’ve been doing very well on my mls deals but there’s not enough of them to grow. Hence my question, have any additional information?

 Yes, it doesn't work that way. If it did everyone would be hiring a "cold caller" to fill their deal pipeline.

Hey @Philip Coiro  

Great to hear that you're planning to scale your business via Outbound marketing! 
Your success with VA's gonna depends on your ability to train them, giving a script, a list and a dialer are unfortunately not enough. In my company, our VA's do 1h of mandatory training every day + weekly zoom calls. If you don't have a lot of experience cold calling or managing a team, I would recommend using one of the companies that already have a training program, they will hire and manage the VA's for you for a small per hour fee, well worth it.

Text campaigns are going to become less effective in the coming months because of recent regulations, so don't spend too much money on them. Targeting mail is still very effective. SEO is more of a "brand recognition" method than a lead generation thing, it will pay off down the road but you'll have to be consistent for 1-2 years before you start to see results... If you want an instant return, I would recommend PPC (Fb and Adwords) instead. 

Ps: Don't go for the cheap VA's, there's a HUGE difference between the $3-5/hours and the 7-9. 

Teaser: "How to determine the right time to start the SEO campaign." ==

@Philip Coiro  wrote: "We would also run a text campaign, some SEO and some targeted mail."

You have a great website. But it's not ready to start an SEO campaign right now. Google SEO test is showing the results of a survey on your website:

Google is thinking your website is in the red SEO zone. Only 38% of visitors have the patience to wait for the website to load because the time to load ("Time to Interactive") is a long 8.2 s. The other 62% of visitors leave the website.

Before you start your SEO campaign, reduce your website's load time to 3 seconds. This will retain 90% of visitors to the website. Then your website will be in Google's green SEO zone. You will start an SEO campaign.