The Importance Of Answering The Phone And Calling People Back

The Importance Of Answering The Phone And Calling People Back

Investor · Phoenix, AZ · Member since 2015 · 12 posts · 2 votes

Hello! I just started my first direct mail campaign in Phoenix! I know it's tough competition out here...but is it really? I sent out 1,800 pieces of mail and most of them hit on Monday. So far I have received 8 calls. Most of them aren't too motivated but I said I would give a few of them a call back later on because they may be great buy and holds and you never know what mind frame they may be in later. 

My last call was from a property owner that is ready to sell a property because she can't visit the property as often as she'd like.

She told me that I am the only one out of all the letters she's received that called her back or even answered the phone. I tried to answer the phone when she called but I was dealing with a family emergency and I knew it wasn't the best environment to answer the phone. I just can't believe that people would waste their money mailing to property owners and not following up. 

I guess it's good for me in the end, but I find it odd that some people spend the money and time to mail their letters/postcards and not follow through.

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Realtor · Denver, CO · Member since 2013 · 2k+ posts · 1k+ votes
10y

#1 Rule in Real Estate: Answer your Damn phone!!! 

You'd be surprised at how many don't answer their phones in this business.  8 out of 10 times I call another agent, they don't answer. 4 out of 10, they don't call back... 

For example: I had an investor client call me in the evening. She was out in front of this fixer upper, and called me for access. Thirty minutes later we were in looking at the property. Two hours later we were under contract. That phone call turned into over $12k in GCI 10 days later. If I don't answer that phone, the next guy gets it...

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  • Realtor · Denver, CO · Member since 2013 · 2k+ posts · 1k+ votes
    10y

    #1 Rule in Real Estate: Answer your Damn phone!!! 

    You'd be surprised at how many don't answer their phones in this business.  8 out of 10 times I call another agent, they don't answer. 4 out of 10, they don't call back... 

    For example: I had an investor client call me in the evening. She was out in front of this fixer upper, and called me for access. Thirty minutes later we were in looking at the property. Two hours later we were under contract. That phone call turned into over $12k in GCI 10 days later. If I don't answer that phone, the next guy gets it...

  • Raleigh, NC · Member since 2011 · 721 posts · 343 votes
    10y

    Ericka, you are finding out something that puzzles many of us.  Investors spend hundreds, sometimes thousands of dollars on marketing.  But they don't answer the phone.  The good news is that it makes your job easier.

  • Rock Hill, SC · Member since 2015 · 1k+ posts · 597 votes
    10y
    Originally posted by @Matt M.:

    #1 Rule in Real Estate: Answer your Damn phone!!! 

    You'd be surprised at how many don't answer their phones in this business.  8 out of 10 times I call another agent, they don't answer. 4 out of 10, they don't call back... 

    For example: I had an investor client call me in the evening. She was out in front of this fixer upper, and called me for access. Thirty minutes later we were in looking at the property. Two hours later we were under contract. That phone call turned into over $12k in GCI 10 days later. If I don't answer that phone, the next guy gets it...

     Matt you are one 100% correct. I structure my days so that I can be here posting at 4 am actually it is 419 am. Then each day about 4 pm I finish up. I spend the next two to three hours returning or doing phone calls. Its amazing how many people forget this business is about marketing, selling your self as much as anything else.

    Really good point on what you said

    Alex

  • Queen Creek, AZ · Member since 2014 · 2k+ posts · 1k+ votes
    10y

    @Account Closed If you seller likes the cash flow but doesn't have time to manage the property see if she will sell and cary the paper.

    She would get more over the life of the loan and potentially be able to spread the profit over the life of the loan.  

  • Investor · Phoenix, AZ · Member since 2015 · 12 posts · 2 votes
    10y

    Sorry i've been away but @Matt M.That's so crazy. I did run into agents that weren't that great when I bought my fourplex.

    @Roland PaicelyI know some of us have full time jobs like myself and are trying to wholesale but I think it's important not to let that be an excuse. I'd rather call during lunch and then eat at my desk and work. Also I get off at 2:30 so it helps trying to get back to everyone within a reasonable time frame.

    @Bob E. Thanks! I did put that out there but she said she wants atleast what she paid for it which was about 90K in 2002. She's currently checking with the title company to see what the comps are in the neighborhood which is understandable. My research with the comps suggests a price of around 134k and after taking out .70 it equals a little over 93k and I told her ball park was around 90k for the house. I also told her it depends on the condition.  I think I just want to see it because i'm sure there are some maintenance items and then after that really calculate my fee which doesn't have to be a crazy amount.

    Thanks everyone for your feedback. I'm pretty nervous but she is really easy to talk to which is a plus!

  • Glen Cove, NY · Member since 2015 · 110 posts · 18 votes
    10y

    8 calls on 1800 mailers? Such a small response.

    What did you send? Post cards?

    Also, I have read that you should let them go to voicemail because if somebody is motivated or interested in all in actually selling they will leave a message vs wasting time tire kickers. Others feel differently.

  • Buy & Hold Owner · Redlands, CA · Member since 2015 · 5k+ posts · 2k+ votes
    10y

    #RULE 2: Keep your appointments.

    Our cell phones have Caller ID. SAVE your appointments in the Calendar and keep the contact ID - - you'll know it's not just another robo call.

  • Investor · Phoenix, AZ · Member since 2015 · 12 posts · 2 votes
    10y

    @James RitterI thought it was a small response as well. It has jumped up to 12 so far but I do feel I should have gotten more. I did send postcards, I have had 130 sent back so far. Some have gone to voicemail but I do try to answer the phone and even call back the ones that don't leave a message. Everyone I talked to said they have a received a whole bunch of investor type mail but I was the most recent one that mailed to them.

  • Glen Cove, NY · Member since 2015 · 110 posts · 18 votes
    10y

    @Account ClosedInteresting. Thank you for the info. I just mailed out 500 of 1000 Yellow Letters. PM me if you want and ill share my results with you (should start getting calls tomorrow)

  • Investor · Phoenix, AZ · Member since 2015 · 12 posts · 2 votes
    10y

    @James RitterThanks! I would love to hear your results. I hear yellow letters get a great response rate. On my second mailing i'll probably switch it up and try yellow letters.

  • Herriman, UT · Member since 2016 · 12 posts · 6 votes
    10y

    @Ericka B. and @James Ritter What list did each of you mail out to?  I am about to start a direct mailer campaign, and I am curious to know what lists people use, and what the response rate is?

    BTW, I loved this thread.  Answer your phones, and keep your appointments.... It seems so simple and yet it's just crazy enough to work!

  • Realtor · NW Suburbs of Chicago, IL · Member since 2015 · 156 posts · 62 votes
    10y

    I think answering the phone is a challenge for some because they may not feel like "sales" people...and the moment you engage on the phone the SALE is on! The relationship, the probing for info, and determining fit is a huge deal, but it means you have to be "ON" all the time...and unless you're doing it all the time I think some people grow complacent and forget that answering the phone is the only way to generate that big ROI we're all looking for!

    Great post and great reminders for all! :)

  • Pasadena, CA · Member since 2016 · 9 posts · 4 votes
    10y
    Answering the phone may be your biggest advantage over competitors. This goes for any type of business. Just last week I needed to hire a glass company. I called 4 companies. The 1 company that answered the phone got the job. Timing is important and I don't want to wait for a call back. I would say not being afraid to talk to people is a top 5 quality in a business owner.
  • Investor · Phoenix, AZ · Member since 2015 · 12 posts · 2 votes
    10y

    @Kameron Ballentine I'm mailing to absentee owners that have owned the properties for no less than 10 years. I'm focusing on SFR but i'm about to open it up to multifamily since I would like to buy and hold with those. I also exclude corps.

    @Shelly F. I totally agree with you on that. It seems like I'm never ready to actually turn my sales switch on because I can be awkward and it's something to work on but I feel like it gets easier after every phone call.

  • Herriman, UT · Member since 2016 · 12 posts · 6 votes
    10y

    Thanks for the feedback @Ericka B.  I was going to avoid the absentee mailer lists because I feel like everyone uses those lists.  However, this thread is making me rethink it.  I'll have to figure out how I can make sure I am available to answer the phone (My day job doesn't always allow for me to answer my phone).  

    I have looked into eviction lists and tax delinquency lists, both of which are hard to generate.  I may start with the absentee list and see what happens. 

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