Numbers Matter. Don't believe me? Ask a computer.

By
Real Estate Broker/Owner with Cornerstone Business Group Inc 0225086119

I've had a little time in the office today, and one thing I've discovered is that a lot of computers have found jobs. The human unemployment rate may be higher than we want, but I haven't heard a single computer complain about being out of work.

How do I know they have jobs? Robo-calls. Over a 3 hour span, I had 5 robo-calls. They're annoying and I would love to know the personal phone number of the person who initiates the program. I would call him/her every five minutes and play a recording of the dog barking, me snoring, children laughing, Fran Drescher reading Shakespeare, etc., etc., etc.

As annoying as they are, I had an epiphany today. Numbers. It's all about numbers. I've had an office policy since the early 90s that we call the "one second rule". If I pick up the phone, say hello and no one responds, I hang up. That has been updated to the "two second rule" because of some electronic devices have a lag time.

But what about the numbers? Think about it. If a robot makes 1,000,000 calls a day, and 10% of the recipients pick up and stay on the line, that's 100,000 potential clients. I know that religious organizations expect a 10% return on a mailing. A 3,000,000 piece mailing asking for a $5 donation potentially returns a $1,500,000 windfall. Not a bad return on a modest investment.

So, how does this apply to Realtors? How many cold calls do you make each month? How many pieces of mail do you mail in a week, month, or year? How many emails do you send? If you don't get a response, do you get frustrated and give up? It's all about the numbers. A 10% return on a thousand contact commitments is a 100 clients. A hundred clients would be a dream for most agents.

It's all about the numbers. Even a small return on an investment of time and money can return a phenomenal return. It may just separate you from the pack and make you a standout professional.

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  1. Ron Barnes 09/10/2018 06:04 AM
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Rainmaker
1,349,749
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

A 10% response rate would be great! I don't make as many calls/etc as I should be, so thanks for the reminder to get my rear in gear.

Sep 10, 2018 03:42 AM #11
Rainmaker
133,710
John Henry
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

Food for thought.  If you don't make an effort to contact people in the 'old fashioned way' you may be losing out good returns on investment.

Sep 10, 2018 04:18 AM #12
Ambassador
2,600,302
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Years ago when we worked Expireds, we worked a different way than most.  We didn't get involved in the initial shark frenzy immediately following an expiration.  We didn't start mailing until 2-3 weeks after.  Those that would immediately relist would have already done so, but we assumed the others would want to sell...eventually.  We'd mail jumbo postcards (13 different ones) every 2-3 weeks, then about halfway through add them to our monthly newsletter.  The numbers of new listings weren't huge, but it was financially worthwhile.  Our conversion rate wasn't close to 10% or we'd probably still be doing those mailings.  Instead, as Liz became less active in the real estate business and busier with volunteer work, I transitioned to our niche blogging as the focus.  I have thought about returning to a mailing for the local 55+ community since we've done a lot of buyer business there, but listings have been scarce for us. 

Sep 10, 2018 04:38 AM #13
Rainmaker
2,702,566
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Those calls are getting so high and the number of them people receive just in a single day. It’s really interesting to think of it like that.

Sep 10, 2018 05:11 AM #14
Rainmaker
2,702,566
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Liz and Bill Spear I hadn’t thought about the concept of waiting two or three weeks, but it’s certainly standing out quite a lot to me now. Good point!

Sep 10, 2018 05:13 AM #15
Rainmaker
2,702,566
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

John Henry There’s just something about a thank you note In that same way that you’re talking about that is totally personalized and says you took the time to care that just can’t be replaced by anything. You know?

Sep 10, 2018 05:16 AM #16
Rainmaker
290,024
Gordon Crawford
Gordon Crawford Home Selling Team - Morristown, NJ
Your Morris County Specialist!

Numbers, numbers, numbers!  Call, call, call!  They go hand in hand.

Sep 10, 2018 05:44 AM #17
Rainmaker
442,351
Ron Barnes
Associate Broker at Berkshire Hathaway Home Services Georgia Properties - Jasper, GA
"Most agents claim they're #1 - I THINK YOU'RE #1!

In baseball, speed doesn't slump and numbers don't lie.

Sep 10, 2018 06:06 AM #18
Rainmaker
3,098,569
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Sales are always "all about the numbers" and the best marketing reaches the most buyers and brings exactly that.

Sep 10, 2018 06:15 AM #19
Rainmaker
3,408,907
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Mike. I have two un-employed computers. They were made with planned obsolescence. Other than that I agree with you completely.

Sep 10, 2018 06:32 AM #21
Rainmaker
2,392,039
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The last sourceS I would do business with are the annoying ones. Spam, robo-nonsense, emails blasted at you etc. all say to me. DONT DO BUSINESS WITH THEM. Even if I wanted/needed the item or service, I go get it elsewhere

Sep 10, 2018 06:43 AM #22
Rainmaker
729,612
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtors, Philly Main Line

A good reminder to consider the numbers and what they mean and to assess constantly what return your work is bringing.

Sep 10, 2018 09:23 AM #23
Rainmaker
1,484,080
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Most of the time I don't answer the phone unless I recognize that the call is from a real person. However, sometimes I do - and like you, I hang up when they don't respond.

There's one exception I try to watch for, however.  I have a "sometimes" copywriting client who is deaf, so when I answer, my words are typed out for him. There's always a delay while he reads my greeting before he responds. Until I "met" him I had no idea there was such technology to benefit the deaf.

Sep 10, 2018 01:01 PM #24
Ambassador
3,856,626
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi Mike

Congrats on a well-deserved feature! It's an important topic and one I suspect manyy, myself included, do not pay as close attention to as we should!

Jeff

Sep 11, 2018 07:17 AM #25
Rainmaker
352,631
M.C. Dwyer
Century 21 Showcase REALTORs - Felton, CA
Santa Cruz Mountains Property Specialist

I get your point, but, a 10% return on real estate cold calls? What’s the realistic number?

Sep 11, 2018 12:01 PM #26
Rainmaker
485,871
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I see your point here. If an agent is comfortable making the calls..then go for it!  There is one mortgage lender here that keeps robo calling me and I will NEVER recommend him due to the obnoxious intrusions.

Sep 11, 2018 12:40 PM #27
Rainmaker
1,459,030
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

I'm getting a lot of robocalls as well last few days and I block each number. Yet, if it is a live marketer, I'll give them 30 min to tell what they sell and politely decline.......for the reason, I do cold calls as well and feel it is just rude to hang up immediately:) 

Sep 11, 2018 09:55 PM #28
Rainmaker
363,496
Julie A. Black
KAUAI DREAMS REALTY Kauai Real Property Specialist - Kapaa, HI
CLHMS, CRS, GRI, Realtor, Broker

I do have a couple of "retired computers" It's a good life for them hanging out on Kauai and eventually hanging out with some friends at the electronic recycling center. And yes real estate lead generating is about numbers.

Sep 12, 2018 07:06 PM #29
Rainer
6,425
Solly Assa
Assa Properties Inc - New York, NY
Solly Assa is the Founder & CEO of Assa Properties

Interesting article, thanks for publishing!

Sep 14, 2018 06:56 AM #30
Rainmaker
959,255
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

This reminds me of my insurance days.  We had a contest and the manager taped $1 mills all around his door.  Each appointment earned us a $1  I made a $1 an hour that day! LOL!

Sep 16, 2018 04:39 PM #31
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