All Forum Posts by: Eric N.

Quote from @Jerryll Noorden:

Quote from @Nathan Gesner:

Quote from @Harrison Pruett:

Everything on the MLS is also listed on realtor.com, updated every 15 minutes. Access to the MLS doesn't really give you any advantage.

Everyone is struggling to find deals. Prices increased dramatically and sellers know it. A lot of money is floating around because people cashed out equity to invest, or they had extra income thanks to COVID.

The only "trick" I can share is that you need to be patient. Keep working at it, knowing it will be hard for a while. When the market swings the opposite direction, you'll be ahead of the game.

Everyone trying to target motivated sellers is struggling. That could be true.
But saying everyone is struggling to find deals? That’s absolutely not correct.

Here’s the thing: you cannot target motivation. The reason most people are struggling is that they don’t truly understand lead generation. Those who do understand it aren’t struggling.

Here’s the common flaw: people think a circumstance equals motivation.

• Foreclosure = motivated
• Tax lien = motivated
• Absentee owner = motivated

That’s just not true.

Motivation is an emotional response to a circumstance, not the circumstance itself.

Let me give you an example. Most people assume that tall grass, boarded-up windows, absentee ownership, foreclosure, or tax liens mean a person is motivated, right?

Well, here’s the truth:
A motivated seller isn’t someone who wants to, needs to, or even has to sell their house. A motivated seller is anyone willing to sell their house below market value.

Take 100 people in foreclosure, randomly. Ask them if they want to sell their house or keep it.
100 out of 100 will tell you they want to keep their house.

The same goes for absentee owners, probate, tax liens, etc. These are all people who, if given a choice, would rather keep their house than sell it.

So, what’s happening? You’re chasing the wrong people.

You can’t just use a checklist like “tall grass” and assume that means someone is motivated.

The sensible solution to foreclosure is indeed to sell, but the emotional response for someone in foreclosure is to find a way to keep their house, not sell it.

And what are all the "experts" teaching? They’re telling you to go after foreclosures, tax liens, and to use Propstream to find deals, right? They’re telling you to chase audiences that explicitly do not want to sell their houses.

So, no wonder “everyone” is struggling to get deals. And by “everyone,” I mean all the people listening to these podcasts and gurus who are spouting unfounded nonsense that makes no sense.

The moment you realize that you cannot target motivated sellers (because no one knows when someone becomes motivated), you’ll understand that the only way to find them is to let them find you.

Know where they’ll be looking when they become motivated—and be there. That’s how you’ll get all the deals.

It really is that simple.

Hi Jerryll! :D I am trying to target motivated sellers using your template. Ticket #8125531. Can someone update us of timeframe to resolve the issue? Thank you! :D 

To OP: I also struggle getting deals. Sellers after COVID are no longer "motivated" to sell cheap. It seems everyone who had any plans , inclinations or need to sell sold their homes in 21-22. There was this rat race of sellers and crazy bid wars among buyers that gobbled up whatever could be sold and bought on the market. And those days of easy wholesaling are gone. But this being said, people still find deals and make money. Data/lists you pull matter. Amount of money you spend matter (big players spend tens of thousands of dollars per month on marketing). Time you spend matter (successful wholesalers who want to save money on DM engage in Cold Calling. They still close deals, but you have to be dedicated, work through your list, get top qualify skiptracing and keep calling and following up with prospects religiously). 

I personally don't think SEO will be a magic wand that will solve all our problems and get us all the leads we want, free and effortless. First of all, as someone very very very remote from IT/tech world, it's going to be quite a challenge for me to get my site SEO optimized. It will take hell of a time for me to learn and master it (it could be as easy as snapping fingers for someone who does it for a living). And I may only start getting enough traffic to convert in about 6 to 9 months, that is  IF I am good at learning the SEO and implement it as I should. After looking around, trying Leadpropeller and considering OnCarrot, I decided to hire a developer to build my own site from the scratch, with total control of domain and hosting. But I got really frustrated with developer who was unresponsive and lazy, unable to deliver quality results on timely schedule as agreed, so I fired her and decided to try Grumpyhare.com. So far I like the dashboard and templates they have. I just finished working on it and waiting for their tech support to help me publish my website under my own domain. 

Overall, I would say this: don't expect wholesaling to be an easy road to make a windfall. You may close ZERO deals in the next 90 days, no matter how hard you try, and those 90 days will be a sort of academy or school where you will learn from your mistakes. If you learn your lessons well, you should start closing deals. 

It is not going to be free and effortless path, no matter who says what. It's very doable, every day I see and talk to people who make living doing this, but ultimately few people succeed in it (just as in ANY business out there).

I wish you best of the luck. Perseverance is one of the keys. 

Quote from @Gustavo Munoz Castro:

Quote from @Eric N.:

Quote from @Gustavo Munoz Castro:

Just to make sure I'm understanding the numbers:

In 1 week, they dialed 10K leads, spoke to 1K people and generated 3 leads? Wow, that is NOT great, you would get better results from calling the phone book eve on a first pass. Let me know if my numbers are correct, I run a call center for Real Estate so I look at these kinds of numbers all the time.

You are correct about 10K phone calls placed. They use a dialer that allows to place 2000 calls per day. They claim to speak with around 200 people per day (not an exact number, it varies from day to day, but this an average), and they upload reports/logs for me to review daily. I threatened to dispute the charges, because it feels as if they are randomly making up the numbers. But they insist that the numbers are correct, even offer to use my own dialer where I can listen into calls besides seeing the call logs. 

 Their numbers may be correct but they're not very good. Is that the conversion rate they expected from such a large list? I would want to see call logs and listen to some recordings, something is up. When the list is bad, you don't get many contacts. 1K contacted leads is good for a 10K list. If they spoke to 1K people and converted 3 leads either the data is terrible, the caller is not good or the script/offer is very bad. I'm guessing its the script/caller since If I spoke to 1K people from the phone book, I would get many many more than 3 leads just by asking if they had any desire to sell their home. A skilled caller could get 20-30 leads from talking to 1K random homeowners. I'm assuming your list was not random. 

 Thank you for your input, Gustavo. the list was not random. I have targeted absentee owners with high equity, homes owned longer that 4 years and etc. 

There is a list of 10,000 skip traced contacts. I don't have a rapid dialer, but my understanding is that they upload this list to speed dialer. Speed dialer that dials approximately 2000 numbers per day. They claim that they are able to speak to ~200-~240 individual home owners per day (out of 2000 numbers dialed). Therefore, if 5 days passed it would imply that they spoke with 1000 home owners and dialed all 10,000 numbers on the list. 

I do get daily reports and call logs, but I did not provide my own dialer. Therefore, I can't log into their dialer account, nor I can monitor/listen to calls. I just found it odd that so few people were willing to speak about selling their houses. I had about the same results when I placed 20-30 calls per day, and the quality of the leads were similar: every day I would speak with 5-10 individuals and get one or two seller saying they are open to the idea of selling their house, but they would not accept anything less than the full retail value (often 125% of Zillow estimated value). I didn't expect to get the same volume of "leads" from VA who has rapid dialer, calls 2000 numbers per day and speaks to 200 or more sellers per day.

Quote from @Michael Quarles:

Cold calling is only one marketing method.  In today’s market it wouldn’t be in my top 5. 

Using a double headset you can call two numbers at once and a predictive dialer can call more.  

At Three rings hang up.  An okay caller at best can only dial 90 calls an hour.  BUT.  Those will only get 16 LIVE calls an hour of prospects who can go thru the script and that’s not a complete script. 

My script takes a few minutes minimum to go thru.  

My call center had requirements of an appointment per day and a three strike rule.  

The TM will present 100 scripts to get a cold appointment down to 1-20 for a FSBO

It’s a true numbers game.  

Does it look to you convincing that after placing ~2000 calls and speaking with ~200 leads per day they are unable to generate a single "lead" in days? And when they do send the so called "qualified leads", it turns out someone with high equity and house in OK condition asking for 125% of RETAIL value. Obviously, people can ask all they want and that's why we have to negotiate. But I didn't get a single lead where someone would go from 125% to 50%-65% of ARV (which is usually a fair cash value when you account for the repairs). I suspect that the service is scam and want to dispute/request chargeback. But I don't want to make wrong assumptions and penalize the business if I find out from experienced users that it is possible to place such volume of calls and get 0 to 2 leads per day (around 15-20 total in a span of one month).

Quote from @Gustavo Munoz Castro:

Just to make sure I'm understanding the numbers:

In 1 week, they dialed 10K leads, spoke to 1K people and generated 3 leads? Wow, that is NOT great, you would get better results from calling the phone book eve on a first pass. Let me know if my numbers are correct, I run a call center for Real Estate so I look at these kinds of numbers all the time.

You are correct about 10K phone calls placed. They use a dialer that allows to place 2000 calls per day. They claim to speak with around 200 people per day (not an exact number, it varies from day to day, but this an average), and they upload reports/logs for me to review daily. I threatened to dispute the charges, because it feels as if they are randomly making up the numbers. But they insist that the numbers are correct, even offer to use my own dialer where I can listen into calls besides seeing the call logs. 

I hired roichamps dot com to do cold calling for me. They use a list of 10000 contacts (they did skip tracing, I ordered high equity/absentee owner list). I am getting between 0 to 1 "warm" leads per day. Since 8/30 I received only 3 leads. I challenged the company, suggesting that they can't possibly be making 2000 calls each day and speaking to ~200 prospects per day, generating only 3 leads in a span of 1 week. They adamantly denied that their caller was slacking. They said the reality is that generating leads is tough and I should give it a full month before evaluating the results.

Did any of you use roichamps dot com? I want to give them a benefit of doubt, but I wonder how often you had a list of 10000 prospects, a power dialer to call 2000 numbers a day and speak with those you were connected to (approximately 200 prospects per day_, and still got only 3 unmotivated seller leads in 5 business days?