I Hate Cold Calling?

[Jonathan RexfordFL 8]

Cold Calling

 

 

As much as I HATE cold calling I was wondering if anyone has paid someone to call and fill out a Property Info Sheet?

 

If so what was the rate you paid?

 

How did you pay?

 

 

Here are my thoughts:

 

Give my caller a special link to cold call sellers and FRBO’s

 

Pay $3.00 per entry to website

 

Pay via Paypal

 

Am I too cheap?

 

Am I too expensive?

[Jason (AL) 1]

Here are my thoughts:

 

Give my caller a special link to cold call sellers and FRBO’s

 

Pay $3.00 per entry to website

 

Pay via Paypal

Do you have access to multiple lines from 1 phone?

Something like Skype, RingCentral, etc. etc.?

If so, you could let them use an additional line from

one of those. That way, you can track all the #s dialed and,

perhaps, see how long each call was (to prove they weren't just dialing #s).

 

I've never paid anyone to cold call for me, but delegating it

out to someone else is something worth doing.

I'm not the biggest fan of it myself, but it's not

so bad after a few margaritas. However, my closing

ratio decreases as my consumption increases.

Any advice?

[Jonathan RexfordFL 8]

I have a seller questionair that is to be filled out so I will capture all the information. They will basically be entering it online as they call.

 

They basically go to this website http://jonbuyahome.com/WeBuyHouses.cfm and key in the information.

 

I have skype, google voice and a few other numbers out there. But I just want to keep it simple. They see a number they call they enter into my website then I pay. Do you think I am asking too much?

[Doug Pretorius (ON) 9]

I'll make those 5 minute cold calls for you for $3 a pop, Jon

[MichaelC 160]

Do you think I am asking too much?

No. I think you're paying too much. Are you saying you're willing to pay $3 per call? That will add up fast, and who knows what the results will be. I suggest you pay less upfront and offer some sort of bonus for any deal that comes from those calls.

[Jonathan RexfordFL 8]

No I mean $3-5.00 per Property Profile sheet filled out on my website. There are like 45 questions. if they make a call and they say bug off then I won't pay for that. It has to be a lead to come to my website.

[MichaelC 160]

Ahh. . .that seems more logical. I'd still toss in some sort of incentive on any deals you get from the caller's efforts.

[Jonathan RexfordFL 8]

Yeah that is a good idea.

[Adam King (MI) 1]

John,

Back in the day when I was really going after the deals this way, I had two home run approaches.

 

One, I had my secretary make the calls during her off time. I told her if she landed a deal then I would pay her $100. This was during her normal hourly rate for her normal jobs/tasks so if she didn't get a lot of deals she still got paid. But for $12 per hour and nothing more. She crushed it.

 

Also, I only had her ask "5" questions to simply locate motivation and the availability to do terms. All I needed was a motivated seller and the right numbers and I was good for 9 out of 10 in getting them under contract. I didn't want her screwing up my negotiating room by asking too many questions and starting to sound like she was trying to sell something. That was my job.

 

The second thing, which is the most effective and costly was "we buy houses" signs. Since I was mainly doing CAs, I simply called them and asked them to give me their dead deals. I would pay them a referral and teach them so we could do more deals together.

 

Over the years I had people tell me they tried that and that they were worried about other investors stealing their ideas etc. I had never found that to be the case even once in over 200+ deals.

 

Hope that helps,

Adam

[Jonathan RexfordFL 8]

Great feedback all. Just for clarification.

CA's, RTO is probably the last ways I would buy a home. It is just a tool.

Lead generation is what I am trying to achieve.

[Guest jvmccall]

Adam, I love your posts. Thanks for sharing your golden nuggets.

 

I just decided today to have one of my assistants start making cold calls. I was going to pay her $500 per deal, but that would be after I make my money, so she would have to wait till I sold the house.  

 

What were the 5 questions you had her ask?  

 

And finally, would you normally go meet the seller in person, or would you close most of these deals on the phone?

 

Right now, I get most of my deals over the phone but I think I would have more success if I met them in person. 

 

Thanks! 

[Adam King (MI) 1]

Thanks for the kind words.

And yes, I answered this question via our private message.

Hope that helps!

Adam

[randian 0]

And yes, I answered this question via our private message.

Anything you'd care to share with the class?