Real Estate Investor · chillicothe, OH · Member since 2008 · 30 posts · 0 votes
I know a lot of investors don't like the thought of going to boot camps and buying programs off of so called real estate guros. But this idea is actually starting to look like it was a great idea. When i went to a boot camp about two years ago the guy i went to go see told us that an 800 number was very important in saving us time and screening out tire kickers and time wasters. At first i didn't get alot of calls but now the numbers of quality calls are going up through the roof. Anyone else have any good numbers coming from having an a 800 number with a live operators to answer the questions?
The way it works is that i have a operator set up to take the information and answers most of the questions they have and emails me all the info the operator takes from the person . Then when i have time to look at the info i can sit down and run the numbers when i have time. Most of the time the time wasters usually just hang up after they get their questions answered or if the deal isn't right for me i could just past it off to a fellow investor.
the 800 number is the answering service its included in what i pay for the number. whats nice is that i don't have to worry about it cause its on 24 hours a day , what makes it really nice its a live operator .
Bad experience and I like to get on a person to person conversation so I do not mind going out in the field! Thank for your time and have a wonderful biggerpockets day...........
I still go out in the field almost everyday. I am just trying to stream line my business as much as i can so i make as much money as possible without cheating my customers or doing something illegal. But i have noticed that if i talk to much will mess something up . Also i don't want to talk to the people that say what we do is illegal or unethical, thats what my 800 and my website is for.
Good points on the answering service. I've been considering it myself because my schedule is unorthodox and I don't want to miss calls just because I'm getting some rest (or sacrifice sleep to talk to folks. Any recommendations for service, or a rundown of what it costs you? Also, what area of Ohio do you work in (I'm in Dayton, myself)? Thanks again for the information; I'm looking forward to getting it set up for myself.
Good points on the answering service. I've been considering it myself because my schedule is unorthodox and I don't want to miss calls just because I'm getting some rest (or sacrifice sleep to talk to folks. Any recommendations for service, or a rundown of what it costs you? Also, what area of Ohio do you work in (I'm in Dayton, myself)? Thanks again for the information; I'm looking forward to getting it set up for myself.
Brian,
I have a little experience with answering services and RE. Here is what I have observed.
1. Do you need 24 by 7? Are you really going to get calls that matter around the clock? If so then you need a service that provides that coverage?
Assume you did get a lot of calls and a high number result in solid leads and later deals. Can you handle the volume after the phone screening. Figure out needing a way to manage the flow and sell off what you can not handle. If you flip a few you can afford to spend money on the service.
2. If your call level is more traditional (9-5, weekday only) then you can use a virtual assistant or other form of staffing. A smaller organization that does not have 24/7, 365 coverage.
3. The larger call centers who some RE investors use (as have I) have staff turn over and other things that really limits what you can expect for screening. You need to produce a script that the operator will follow when they get a call. You can then get your messages by email, voice mail and other ways. The quality of the screening can vary a lot.
If the calls are important and you are spending significant marketing attracting the calls then consider spending more and getting more personalized service. A part time student making $7/hour where each call comes in from different businesses will produce a certain level of service. A business office where you have a virtual office and can rent conference space as and when it is needed normally has a smaller client base who can get to know you. They should be able to provide better call handling. A virtual assistant that does not come with office space is also an option.
4. Expect the costs are significant and you need to budget for 6 to 12 months of costs. That way you can get something set up and work with the service. If you are marketing then you have to expect late calls from things you did weeks or months before. Hence you do not want to be changing phone numbers. Maybe you sign up for a virtual number through Skype or similar and then route that number to a service provider. If they fail to provide what you need you can redirect the number to a different provider without invalidating the prior marketing.
There is a new service on Google but it is still in beta and restricted as to who can sign up.
Thank you for your detailed reply. It gave me a lot more to think about in regards to what sort of services I would need. My thinking has been along the lines that some relatively significant portion of the proceeds of our first deal should be sunk into a marketing campaign to get the word out and get some better/easier deals sent our way. I think quality would be very important in an answering service, not just for the answers you get but the mood that you put potential sellers in; somebody who is subjected to a disinterested person making nearly minimum wage is not going to be flattered by such an obvious service gathering their data!
I have one more question for you though. You mention 9-5 versus 24/7 answering services. Do you find that most interested sellers call in the 9-5 range? My first impression was that they would be more likely to call after work so the highest volume would be in the evenings, but it's just a guess. Thanks again.
If you are sending out post cards some will call when the postman delivers the card. Some will call from work as their phone at home does not work. Some will call in the evening. If you say to call between 9-5 or to use the web after hours some will think you are serious and will follow the instructions.
You can not really control when people call. You can have voicemail message that sends people to a website out of hours. That assumes they have access to the web.
Stumble your way forward. Many people will be fine with 9-5 as many businesses are organized that way. Or have the calls outside of specific hours forwarded to your mobile phone if you can take calls out of normal business hours. If you are running ads on late night TV then be prepared to have 'operators standings by' when you run the ads.
Test, test, test. Pay a bit extra to run some specific tests to surface what works best. Then optimize around that strategy.
Expect that you will never get every call or handle every call perfectly. Hence you need to focus on quality plus acceptable losses. Some calls are dead ends and some missed calls might have been a great lead. Handle most of them well and the numbers will take care of themselves.
I am a big fan of 2 step approach.
We plainly state on all our marketing that they can call 24/7 recorded message. And they do call 10-40 a day... depending on the marketing message and delivery.
2007-11-01 for example we got 39 calls of which 7 decided that to talk to the live operator. How would you like to talk to 40 people a day and answer same questions every 10-20 minutes from 9am till 11pm. once in a blue moon you get couple calls at 2-3am.
I think that prospects feel much more relaxed when they know that they do not have to talk to anyone. They can call and listen and if they choose to they can pres 0 to talk to a live operator. Which is again a 3rd party and just asks questions for someone else.
It is very convenient to get lead sheet with questions like "what is the least you will take for the house?? answered.
The main thing with the call centers is - what sort of questions will they ask for you. I have found one where they have couple predefined sets of questions and chose one. Custom questions options wehere too pricey for me and just a few companies offering service.
We use www dot voiceconnectinc dot com (stupid antispam rule)
Our script is a an inteview answering all the questions we get asked while talking live to the sellers.... comes just shy of 4 minutes
When choosing a call center make sure they have good back office. We know how many people call, how long they listen, if they press any options and what those options are. Reverse phone lookup is a plus if you whant to mail your callers something, voice-blasting and fax-blasting services allso come handy when you want to call/fax 1000 callers for last month....
It depends what you do with your marketing....
Allways remember
You are not in real estate business, you are in marketing business.