Hey BP & All,
My partner and I are trying to make a few decisions moving forward, and I wanted to ask a few questions in what will be a sort of general way and invite people's opinions on outsourced systems and outsourced marketing.
And just for a touch of background so you know where I'm coming from: I'm a full time agent/investor. I've sold about twenty houses and been a principal in three good deals (two of which I own, one assigned). I have a partner 50/50 partner in my REI company, and we've been sending out mail and trying different online marketing tactics for the past six months or so.
The problem I'm encountering is all the little crap we all end up doing. Scrubbing lists, pulling comps and running down bad leads, designing marketing pieces, trying to improve systems (CRM, etc.), managing a rehab (and doing too much myself - that ends with this one though).
So, we were looking at and considering a company called REI Vault (I think), and we're going to set up a call to inquire. With them, for $350 a week, we'd basically be outsourcing the entire direct mail component (with oversight). They pull unique lists, split test many types of mailers at scale, answer and screen calls, and probably more as I'll learn.
The idea we're considering is whether you can really just buy in to scale? Our marketing budget is not huge (say 1500-2k) but as we close more it'll go right back in. And now the rental will help with the budget too.
I know there are probably many types of these systems, which I'm not taking to be a one stop shops or make me rich totally turn key systems, I'm just wondering perhaps from some of the larger mailers and REI investment companies whether a similar technique has been used or whether you built everything?
Alternatively, perhaps someone might just say: that's the business and those are the skills you need to learn and systems you need to build in order to make this work. I could accept that and then carry on, it just seems like too much time is getting spent on low wage activities.
Thanks in advance for any feedback.
My first concern would be a decrease in the quality of marketing. I have a very specific way to build some lists that a generic RE marketing company won't do. I assume they'll just pull some lists off list source and call it good.
Are you sure you can't just hire a foreign VA to manage a lot of these tasks?
@Pratik P. Thanks for being the only input on this one!
We decided to pass on their service actually, and are just going to work on building out the different pieces or hiring out their design piecemeal.
The idea of a lead gen service makes finding motivated sellers SOUND so easy, but I was just at a networking event and talking to a local player who was successful before and after using their service, but said he "lost his shirt" with them.
Looks like I have to learn some skills that certainly aren't natural ;)
Best of luck!
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