Send This Email TODAY Do an Extra Deal This Month

Send This Email TODAY Do an Extra Deal This Month

Send This Email TODAY Do an Extra Deal This Month 1

Caveat… if you haven’t received any email leads in the last 12 months this post won’t help you… or maybe it will…

I want you to send an email that’s going to give you surprising returns but first… we need to talk.

Is your inbox a cemetery for cold dead leads?

Have you archived so many messages with inquiries on different deals and properties over the last year that you could fill a stadium if they were printed out? Well don’t print them to find out, but do this.

Gather up all the leads that you have hanging around.

You know the ones, the cards, the archived email messages, the LoopNet inquiries, and so on… How many of the leads that you got last year bought, sold, or invested in something? Do you have a guess?

25% of the Leads You Got Last Year Probably Did a Deal*

What percentage of your leads did YOU do a deal with last year? Was it 25%? I’d wager not.

Why?

It’s because in real estate we tend to neglect, or worse – abuse, our leads. It’s not your fault.

Why?

Because we’re busy, we’re so, so, so busy. There are only so many opportunities we can be working at any one time if we don’t have systems that are in place to follow up with our leads then our default is to just work on whatever the hottest most promising deal is at that very moment and “to hell with everything else“. Because we’ve got to keep making money. But it’s exactly this approach that can make for a nightmare of business ups and downs.

Isn’t that true?

According to our own recent research and a study of more than 350 real estate professionals only about 1.4% are using best practices for obtaining and following up with leads online.

How many leads do you think you got last year, all told?

  • Inquiries on opportunities
  • Referrals
  • Craigslist
  • Other ad responses…

Did you get 100 leads? That would be 2 leads per week.

How many leads per week on average did you get? 3? 5? 10? Its important that you answer this question because if you have no idea what your baseline is then improving will be nearly impossible.

If you got 2 per week, on average, fewer than 1 every other business day that would be roughly 100 leads in a year. So that means there were roughly 25 real deals in that lead flow. Maybe more.

Calculate this. Get out an excel sheet (or use Google Docs…) get out some paper, whatever…. and figure this out –  roughly – and be honest about it.

What is Your Lead to Close Ratio?

How many leads do you need to get in order to do a deal?

This is easy, take your newly calculated lead volume last year, take the number of deals that you did and do the math and express it in a percent.

DEALS/LEADS = CLOSE RATIO

How many deals could you have done if you had followed up properly, regularly? Double last year? Triple? I’d love to hear in the comments.

Once you figure this out you’re on the road to recovery and if you want to follow along, I’m providing tools and education all month to kickstart your year. I’m on a mission to help serious people DOUBLE their business in 2014.

Double my business? That sounds like a lot.

Well let’s look at the math. At the most basic level, if you could increase your lead volume by 40% this year and improve your follow up (conversion) by 40% you will double your revenue. It’s true. Do the math.

You Don’t Need a Landslide of New Leads to Double Your Business. You Just Need to Do a Little Better, Consistently.

You need a few more leads and you need to do a little bit better following up.  Could you increase your lead volume by 40%? In the example above that would mean going from 2 leads per week to 2.8 leads per week or going form 10 leads to 14.

Does that number sound overwhelming to you? I hope not.

Let’s talk about the conversion ratio. If you closed 5% of your leads last year then this year you would have to close about 7%.

We’re not talking about massive numbers, we’re talking about concentrated efforts on the critical points in your conversion funnel. More abotu how to automate this in upcoming posts, webinars, and videos.

Here’s a Quick Solution to Start to Recover Last Year’s Lost Leads

Start this year off on the right foot and put some systems in place to generate and follow up with leads in a very systematic predefined way. But first do this.

  1. Gather all the leads you have in all the nooks and crannies of your inbox
    1. desk
    2. iPhone
    3. briefcase
    4. car console
  2. Send them this email

“Hi {name}, Are you still looking for {asset type} in {location}?

And that’s it nothing more.

EXAMPLES:

  • Hi Bob, Are you still looking for apartment building in Baltimore?
  • Hi Joe, Are you still looking to invest in notes?
  • Hi Jill, Are you still looking for rehab properties in North Jersey?
  • Hi Ed, Are you still….

Get it?

  • Don’t get tricky don’t send them a flyer.
  • Don’t explain the virtues of working with you.
  • Don’t offer to add them to MLS.
  • Don’t send anything else but these words

Dean Jackson turned me onto this approach and I’ve now used it with over 5,000 emails in different campaigns and markets. I referred friends and business associates to this approach an we’re all seeing the same results. AT LEAST a 30% response rate. Does that mean that you et a 30% positive response rate. No. Some people are going to say they’re all set. Know what? Remove them from your list you don’t need them anymore.

We’ve actually seen much higher rates depending on the list. So, seriously, go do this. Go get all your leads together, and send this email.

Now don’t SPAM people. If they never inquired with you about anything then this email will not work and you’ll make people angry. But if anyone has ever inquired with you about any opportunity and you didn’t do a deal with them, maybe even if you did, send this email.

I’d love to hear about your results. Sign up over here to get free access to a 30 page no BS guide that I put together about automatic real estate lead generation and follow up. You can follow along over there as we launch a new product to help folks like you be more productive with less effort so that you make more money and have time to enjoy it.

Go do it now.

* According to Gleanster Research

How to Know When to Quit Real Estate

How to Know When to Quit Real Estate

How to Know When to Quit Real Estate 2

Should you quit real estate?

Maybe.

Let’s start with this: Why are you in real estate?

Do you have an answer? Is it just “more money”.

If you’re just getting started I’m talking to you.

Quit Real Estate if You Don’t Have a “Why”

Here’s the thing… if you don’t have a BIG FAT WHY, I want you to quit. Yep, in fact you should quit right now, don’t wait until tomorrow, quit today.

I want you to quit because if you don’t have a WHY then you won’t have the fortitude to make it through the tough spots and if you can’t make it through the tough spots then why are you wasting your precious fleeting time on this planet?

Find another hobby the real estate hobby is too expensive.

Go for long walks. Take up macrame. But for Pete’s sake don’t pretend you’re going to make money in the real estate business because frankly you won’t be able to hack it … without a BIG WHY.

Your BIG WHY is your goal, your dream, your definite major purpose, it’s a lifestyle, a vision, it is the future ‘you’ and it is VERY SPECIFIC.

It is not “I want more money“. No my friend that is much too easy, we all want more money.

You need specifics. You need to be able to practically taste it.

  • Where will you live?
  • What will you drive?
  • How will you spend your days?
  • What qualities will you exude?
  • How do people think of you?
  • By WHEN will you have, be, and do all this?

You need to be specific because you need to be able to taste it because from time to time you are going to be in desperate need of the motivation to continue and without your WHY you are sunk, you are dead meat.

So answer these questions above, and more, and answer them in detail. That’s how you set goals and define your BIG WHY.

So…

  1. You decide what you want and why you want it
  2. You write it down
  3. You be very specific
  4. You set dates for achievement
  5. You keep the BIG WHY right in front of you every single day
  6. and you GO FOR IT, always.

So plan to keep your JOB. Or else figure out your BIG WHY right now, today.

It’s Too Hard

You should quit today because making any serious money and achieving real success is hard, especially at the beginning. You’ve heard it all before “if it was easy everyone would do it” , “nothing worthwhile is easy”, yadda… yadda…

ALL TRUE, these tired old statements are true.

Here’s a secret though, most of the time it’s hard because of YOU.

YOU make it hard. You are, in fact, the problem.

You make it hard because you build things up in your mind, walls, hurdles, “reasons” you can’t do this or that and you make mole hills into insurpassable mountains.

Want to know what the number one cure is for your molehillmountainosis?

ACTION.

You must take action.

Brian Tracy talks about the “corridor principle”.

Imagine your walking down a very long corridor and as you’re walking down it you start passing doors on your left and right. You start opening them and behind each is an opportunity and now suddenly the things that you’ve been looking for start flowing into your life because they were behind those doors.

But you would never have even seen the doors had you not started walking. There’s no telling from where you are now what’s behind each of those doors, heck you can’t even see the damn doors.

So you just have to start.

But wait! If you don’t have your WHY you will never Take ACTION, it’s too hard. You’ll pick at it, poke at it … but you won’t do it.

If you do have your WHY then decide right now what your very next step is and take that step now. Start down the corridor TODAY.

Or else, please, quit.

You Have No Idea What You’re Doing

If you don’t know what you’re doing right now you need to find a mentor.

Find a way to educate yourself, or else you should just quit.

Mentors come in different forms, none of them are free. You’ll be paying with sweat, splits, or cash.

Other people have already done what you’re trying to do, they’re miles ahead of you. The uncertainty that is swirling in your head over the minutia in this business, all that little stuff that you don’t know how to do, will chase and taunt and torment you and even with your freshly minted BIG OL’WHY and your willingness to take ACTION you will freeze because uncertainty breeds inaction, or another way to say it, “a confused mind does nothing”.

If you are unwilling to find someone who will show you the ropes and if you’re unwilling to compensate a mentor appropriately you should quit.

Ask anyone who is a success in real estate how they got there and you’ll find out that they got there by paying their dues.

  • They had to split all their transactions with the top dog in the office.
  • They did all their CCIM training for some $12,000 AND THEN they had to split all their deals with someone in the office.
  • They bought dozens of books and tapes and attended seminars
  • They lost their shirt on some deals
  • Or worse maybe they went to college for real estate for 4 years and $100k then found out it DOESN’T MEAN SQUAT

If you don’t know what you’re doing yet AND you don’t want to pay your dues, you should QUIT. Because like it or not you are going to pay. You’ll pay in lost opportunities, you’ll pay in wasted time, you’ll pay with shitty deals.

You will pay.

So forget real estate, it’s expensive and it’s hard. Keep your job and quit real estate..

Sincerely, If You’re Not Up for it, Please Quit

If you’re not ready to quit then define your WHY, take some ACTION, and EDUCATE yourself.

Come to think of it… why not get started today.