All Forum Posts by: David Wurzel

@Jabbar Thomas

Check out Jay Kovar at Kovar Law Group.  I've used him for years.  He can handle just about anything and he's in your neck of the woods.  Very reasonably priced.  Tell him I sent you if you get a chance.  Google Kovar Law Group.

I guess I'm copying and pasting also.

Hi, it seems that this is the thread to have your name changed. Can mine be changed to David Wurzel?

Thanks!

@William Brown

You're starting out with the right ideas.  But now, you have to begin to sort it out.  Like panning for gold, you have to get rid of the garbage before you get to the nuggets.  

Everyone, though, wants to try to get straight to the nugget.

In the end this whole thing is a numbers game.  For example, we just did a cold call blast and went through about 3000 prospects and came up with 18 leads that we are nurturing.  That may sound good but that's not to say we're going to do 18 deals.  Those are just people who have said they are thinking about selling.  Key word - thinking.

See, you winnow these things down but you have to have other things in place.  A list, an efficient way to call, a follow up system, people who make the calls, etc.  This takes time and experience.

Forget the gurus, forget the no money down, forget the pie in the sky ROI. If you make $1000 off your first deal and it didn't cost you $1000 to make it then you've made money.

And keep barking up that public information tree.  Remember, almost all of it's free.  What else can you get for free today that is so valuable?

@Cornelius Garland

"I realize this is a specific request, and a lot of agents will debate the legality of this." Not only will they debate it but the minute you get an agent who is also a member of the bar and decides to challenge this then your model begins to collapse.  I'm not trying to rain on the parade.  It just looks like you already know the answer.  Measure twice, cut once.

@Cornelius Garland

Wouldn't it just be easier to hire a broker or have someone get their real estate license?  Then everything is fine.

@Cornelius Garland

Shot you an email.

@Cornelius Garland

Sent an email to your gmail.

@Cornelius Garland

How would you define the following words as you use them:

Prospect

Lead

The reason I ask this is related to something I saw on your website and I would prefer to discuss it with you offline of this forum.

I, too, feel that metrics absolutely have to be tracked.  If not, then why would you be in business?  Yet, I believe by reading these forum posts that many, many do not track metrics at all.  That is insanity to me.

Back to the subject though.  So, in the above spreadsheet the bottom line is that of the 436 calls made there were 3 properties that were for sale.  Then, of those 3 properties that were for sale, you then put them through your matrix to determine if any of the 3 were worth putting under contract?

Thanks, and I agree, great conversation so far.

@Cornelius Garland

I'll try to answer your questions.  If you can return the favor I'd appreciate it.

Are you primarily cold calling in your business?  Yes

If so, about how many calls are you needing to make to set an appointment?  200-250

What are your thoughts regarding this strategy?  Run it by an attorney just to be safe.

We've spoken to our text broadcasting service and they gave us the green light..They are selling a product and not legally savvy (Neither am I but I know this was heavily covered during my RE Licensing course)

robocalls when leaving a voicemail to anybody or just the do not call list is prohibited?  Telephone Consumer Protection Act (TCPA), which prohibits non-emergency calls made with auto-dialers, artificial voices, or prerecorded voices without the "prior express consent of the called party."

My turn

Your agents names seem to be international.  Is it safe to assume that you use off shore agents?

How are you compensating them (hourly, piece work, etc)?

Your previous post indicated a total of 7 agents who made a total of 436 calls.  That's an average of 62 calls per agent.  What was the amount of time it took each agent to make their calls?  I believe you indicated previously that each agent was making about 100 calls per hour but the Baylor study indicates that an agent should be able to make about double that.  Thoughts?

Thanks!!

@Cornelius Garland

Just a heads up but make sure you're using best practices when making calls.

1. ALWAYS run the phone numbers through the Federal Do Not Call registry AND the state registry. Fines are anywhere from $16,000 per call Federally and $10,000 per call locally.

2. The FCC bans text messages sent to mobile phones using an auto dialer unless the consumer has given permission to receive the message even if the mobile number is not on any Federal or State Do Not Call list.

3. Robocalls leaving a message on Voice Mail are also prohibited.

There has already been an uptick in attorneys advertising for these type of cases since they are so easy to prove. This is the #1 consumer complaint across the nation. So, attorneys see demand to take these cases on.