Hello guys, welcome back to the REI Network podcast. Today, I’m going to be talking about something that isn’t very exciting, but makes all the difference when it comes to making deals. That something is follow up.


Now, I know following up with sellers tends to be the least exciting part of the whole process, but I’m here today to tell you that over 90% pf my deals only happen because I do the follow up like I should. Remember, when you make an offer and a seller says “No,” what they’re really saying is “no, not yet.” By going back to those sellers after 30, 45, 60 days and checking back in, you’ll already have a relationship built when they decide that they are ready.

The vast majority of deals don’t happen with just one phone call. Remember, the profit is in the follow up! But when, and how?

Well, the first question is a little tricky. There really is no set answer for the best time or how often to reach back out to a seller. It really all depends on the property and the situation. If it’s a hot lead, follow up within the week. Colder deals can wait longer, even a few months.

The trick is to set tasks, update them, and take good notes. That way, if it’s your VA reaching out instead of you, they know the situation. They know the questions to ask. Communicating with sellers is all about building a rapport, and good notes are the key to doing that. Again, not exciting, but crucial to success!

If you want to learn more or partner with us on some deals, go to REInetwork.com/join

Watch the Episode:

What’s Inside:

  • “No” just means “Not yet”
  • The profit is in follow up
  • How to use your CRM to help build rapport with sellers
  • Tips for using automation

 

Hey, guys, welcome to the network podcast with me, Gavin Timms. 

Hey, guys, how are you doing coming to terms with our network? Welcome back for another podcast today. It’s just me doing a little bit of teaching here just at a team meeting this morning regarding follow up the importance of it. 

So I just wanted to talk on this because my business literally operates from follow up. Ninety percent of my deals, over ninety percent of my deals that I do in real estate comes from the follow up, the flips that we’ve got going on in in Birmingham, Alabama. And hey, check that out, by the way. Go and check out the YouTube. If you search for Alabama deals on my YouTube channel, there’s going to be like a serious part. One, two, three. And where I went to Alabama kind of went in the flipped for the first time. You’ll see the different stages and kind of what we’re doing that to make sure you go and check that out. OK, on on my YouTube channel, make sure you like and subscribe via that or other. 

Let’s talk about follow. And it’s something that maybe you don’t want to hear. It’s night sitin. Right. But it’s what makes the money. It’s what makes you successful and and actually run a profitable business. 

All right. So what we just said, seventy five to ninety percent of the deals will come from the follow up. Now mine is over ninety percent. The reason I said seventy five percent is it depends on your marketing that you’re doing, but you’re doing reactive marketing or you doing proactive marketing, reactive meaning. Are you waiting for the phone to ring that you’re doing direct mail, Facebook, PPC, or are you doing cold calling, texting right away. You’re reaching out to people. So there is definitely a difference between that quality of lead and they come at different prices. Right. The PPC game a lot of people are going to be moving to because of text messaging. A lot of people are going to be going back into direct mail, but there comes a price for that. Obviously, my number one jam was cold calling, but it is where I put most of my effort into. 

So that doesn’t mean all of the strategies work is just remember, wherever you put your marketing efforts is the one that’s going to produce the best amount of quality leads. And all of them thinks consistency is an absolute must in this business, making sure that your consistent on average for us, it might take six to twelve touches per dial again, something that people don’t want to hear. Stop trying to close a deal or one phone call unless you can. You’re doing the PPC. But if you are doing reaching out to people via cold call, it might take you one in a thousand to do one phone call. Wrap it up, make twenty thousand. Can only happen if we don’t it. Yes, we have. 

The reality is it’s not going to happen all of the time. And I believe and I’ve said this in previous episodes, right. That there’s a million dollars sitting in my CRM right now. And I don’t think it’s any different for you because when I’m leader there, this is this is a process, right? This is a sequence of marketing for sellers. We’re trying to solve problems, find out what the situation is, find out what the problem is and solve it. Maybe that’s through a cash offer, creative finance, depending on what you’re doing. But then the sequence leads on to then talking to sellers, making offers, following up, following or following up until we get the deal and contract to close it. OK, so the fundamentals will never actually change. You need to make sure that every business has that and understand that no means not now. All right. No means not now. If they said no, now go. Guess what they’re going to say yes later. Maybe in six months. In two years, we don’t know. But if we keep the follow up consistent, that’s when you’re going to see, OK, that this makes sense. 

So I have a lot of clients. We’ve just changed our program over the last probably now six weeks. It’s been a game changer. We’re going to  go live four times a week. I’m doing calls four times a week, OK? And it’s meeting it’s on on zoom, where you have your own windows, you can have cameras on, you can interact. And it’s been fantastic. People doing foreground deals. Twenty five grand deals, people doing their first day, people trying to set systems up so they don’t have to do anything right where the system does it for you. You’ve got people getting four or five deals a month. And it’s been awesome to see that and actually build a community that’s going really well. And again, it’s being consistent. If I’m willing to show up daily for them, then if they can then channel that into their business, they’re going to get results. 

And if you’re interested in working with me, go to REInetwork.com. Let’s join REInetwork.com/join. Let’s have a conversation, see for good fit. 

But anyway, remember, the profit is in the follow up. What I mean by this, you’re already spending the money on marketing. OK, so you’re already doing that. You’ve already spent the money, you’ve already had the cold call delivery skip tracer. You’ve already sent the direct mail. You’re already paying the PPC. You’ve already done that and then the leads come in and guess what you say, no, they didn’t want to sell. No, they didn’t want to sell. No, they didn’t want to sell. And nothing happens. It needs to be no means not now. We’ve got them on follow. We’ve got the stats ready. We’ve got a task set and we’re going to follow up until they say yes. 

Remember, back in twenty, eighteen, fifty four, my deals came from followable. Fifty eight. That means four deals to fifty eight deals. Guys, this is insane when I’m talking about a profit is in the follow up because you already had the expense one you just keep in building your profit line, you do this follow up. OK, and there’s three basic things. If you’re techie or not, you’ve got a CRM or not. Whatever you are doing, the three things that you need to be doing in this business, OK, changing the status, making sure a task is set and adding in comments, taking good notes, adding comments to the lead, especially for follow up. So the is could be is a new lead. You’re waiting for a response. You need to make an offer. You sent an offer. It might be helpful for a warm or cold. 

OK, so so divide things by the stats and then you need to create a task. And in that task, it is your next action that needs to happen, whether it’s you or someone in your team. So it could be, hey, Charlie, the VA, I want you to do call the seller in thirty days to see if anything’s changed from the conversation we just had using these notes that are in the CRM. One of the most important things is the notes and everyone doesn’t want to do it. It makes no sense, because I’m telling you right now, if you want to run a profitable business, you want to build rapport, a move, lead down the channel. The notes are everything. So if the dog was sick, the child was ill, they were in the E.R. They had whatever it was. The tire burst on the car and they were at the dealership. It doesn’t matter. Whatever it was, you need to know all that detail because guess what? That’s what you’re going to lead into is about the person, not the property on follow up period. Were you there to solve problems? 

So ask questions about them. Hey. Hey, Jeff, how are you doing? This has got thirty days. I know it was last time we spoke. How’s your daughter feeling now? Because I know you were kind of you know, she wasn’t well and then all she’s doing much good. Thank you so much for asking. You’ve just gone up a level guy. You just raised that ball to a new level of building rapport. It’s not about the property that will come later in the conversation. But guess what if I’m not calling. This is the this is why the notes are important as well. And I get Charlie, the VA, Charlie says, hey, you spoke to Gavin a month ago. Nice to meet you. I just wanted to ask, how’s your daughter doing? And then might like. That’s where I do know that. Well, yeah, I know. I spoke to Gavin about it and he said the daughter wasn’t well, so I’m going to give you some time. She’s doing better now again, building that rapport. Well, look, I know it was hectic there, but it’s now a good time to disclose your property. We’re still looking at buying in the area. Would you consider selling and then move on to that as you go to remember the three basic things that you need, change the status update or create a task and add an update the notes every time you speak to them. 

So we have no service over a year period. Every time we spoke to them, you’ll see the conversation, change it. You’ll see that situation change in all of the time. OK, it’s a really, really important obviously kind of follow up. Can you do phone calls? Right. This will never be the phone call will never be beaten. All right. The personal touch will never be the personal voicemail, OK? And if they don’t answer, text them, send them a text or I set leave them a voicemail on the third go. If we normally call three attempts on the last time, we’ll leave a voicemail, we’ll send them a text, we’ll check in. But it’s about them. Hey, Mrs. Zeller, if they if you call them. Hey, how are you doing. I was just thinking about you this weekend. Just wanted to follow up and see how you’re feeling. I know you’ve been sick. Is there anything I could do, anything that you need help with right now? 

Again, it’s about the personal know. Thank you so much. I’m doing much better now. And then you again lead into that conversation. You can send direct mail, OK? You can be doing direct mail to your leads every every month. Send send a direct mail postcard to the people you’ve already made an offer on. OK, you could do emails to them. You can do autoresponder emails. If you use in CRM, you can do all VM, which is a ringless voice mail. Now all VM. You have to be very careful with the legality, but if you’ve already spoken to them and you’ve had permission and conversations, then all of them. I don’t see a big problem with doing that. And obviously a good VA, right. We do I have a VA dedicated just to follow when they are doing anything out of the three months that call it doing the personal touch, rewarming it up and bringing it back into acquisition. 

OK, so that’s some of the things that you could be doing with your follow up. And then there’s the sequence in you probably heard about, well, how often this is the main question, how often should I follow up? And I thought, well, I don’t know. Right. I don’t know because it depends on the situation. 

And I will say this to try and give you some example of what I’m saying. Let’s say that you have a your new you go into a brand new market. You’ve just started market and just follow up on every lead, every 30 days to start with. OK, and then obviously it’s a warm, hot lead. It needs to be in the next day, in the same day, within the week or call Friday, whatever you said up. But anything that’s just a normal not interested right now, just put them on a 30 day. If you’re new to a market now, that can change depending on how many lead you’re bringing in and how experienced you are. And you can push them out further. Someone’s like one in 50 grand over. Not really interested. Nothing’s really happening. Yes, I, I do a three month follow up on it. Right. But if I have 10 leads in my CRM hour or 100 or 200 lead, I want to be touching them every single month and I can scatter accordingly. 

OK, so that that will change this also as well. Everyone wants to talk about now it’s kind of the new thing about automation, right, workflows. How does the CRM do all the follow up for me and there’s a time and a place for this. I think it’s great. I think it’s a great tool. It’s a great benefit. But it also you have to make sure that our nation does not make you lazy. This is really, really important because it will don’t expect something just to do everything for you, because you will never, ever remove the personal touch. All right. So I only put automation onto cold follow where the not interested. Maybe you can send up a text message, go in every 30 days and email every forty five. Another tax on 60 days. Another one on forty five days, sorry. Seventy five days, 90 days, so on. And then every so often put a personal call in there as well and you can get the system to the workflows to do this. 

We use freedom software to do that. Send me an email if you want my link. If you want to get it set up with a way that I have, you can emai support@REInetwork.com. We can send you a link if you want to get onto my account to get the documents that we use them. Feel free to do so. Reach out and we’ll we’ll give you that. 

OK, so that’s kind of the sequencing. But you just got to watch it and getting lazy and you need to understand certain certain triggers are going to do things like people. When I am, I want to own clients. They say, hey, let’s turn on the automation. So it does it. Do you understand what the automation is doing? Do you understand that it’s going to send a text in this day? You’re going to do this? It’s going to do that because if you don’t, it’s going to make you look silly. Right? I just got off the phone with Bob. Bob, I’m about to sign an offer and all of a sudden I’ve not changed my status. And it sends out a text message when you’ve allowed it, if you’re not paying attention. And he says, Hey, Bob Jones. Seventy three Main Street and hold on a minute. We just thought we were already trying to get this contract signed. It just looks like you don’t know what you’re doing. So you just have to be careful that you understand it. And if you don’t rely on it too much, then I’m all for it. But don’t get lazy. That’s the message. 

OK, and this is these things that we’ve just talked about have to happen. It has to be consistent. Right. Remember, the follow is going to make you successful. And the biggest thing is that I work with all my clients is the how do I get you out of this seat? How do I get you out of these day to day things? How do we put systems in place to remove you with all the people to do it for you so you could work on the business, not in the business? That’s my goal. How do I get you to work on the business, not in the business. 

And everyone that comes in and ambush me, we’re on a six month timeframe to make that happen or create the goals that you want. Some people are ready to go and do it now. Some people need the fundamentals first and then we can start implementing systems. 

So everyone’s at a different stage, but it’s understanding what the goal is. You all listen to this like the idea of being a business owner, working on the business, not in it. What we have to put things in place. We have to have the right team, the right systems to be able to do that. And that’s what I work on. I am not your guy that’s going to get you in an office with full staff spending hundreds of thousands of dollars on marketing. It’s not me. I come from more of a lifestyle. How do I make a lot of money, how do I stay profitable and how do I make it a win for everyone around me and build a strong team that’s going to withstand moving forward? Not we’re having a great month and then everything. We have a pandemic and I lose everything. I’ve got to fire everyone. It’s just the way my mind works and the goals that I have and a lot of people. When I worked with them, we all need to be aligned in the same thing, if someone comes to me and wants to build an empire and build massive overhead in and and have an office in Miami with one hundred people in it, I am not the guy for the job because I’m far from them. 

Our lifestyle, how to work on the business, what I do, I do four, five, six, eight dealss a month consistently and I’m happy with that. How do I make a million dollars a year gross and maybe pocket four or five hundred thousand myself just to be a business owner and let things work? It all depends on what you want, guys. All right. And that comes first. But it all happens through this follow up sequence to get you there, whether it’s you or your team. 

All right. So hopefully this helps. Remember, make sure you like and subscribe. If you watched on YouTube, you listen on the podcast again. Drop me a comment. Give me a review. I really appreciate it. And I will see you on the next one. All right. Thanks, guys. Bye bye.

 

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