Clock Counters and Marketing; What works vs. what doesn't.
In this article we will discuss the do’s and don’ts of Motivated Seller Marketing & Acquisition-Below. Touch on some of the popular myths and explain what is and isn’t working. No hype, no promises, just fact-based statistics gathered from years of marketing, Real Estate acquisition and studying. We will cover how to integrate the proper Psychology, Marketing, and Sales techniques that will leave your competition wondering what you are doing differently. Before we get there, we will discuss the main difference between successful people and unsuccessful people in business.
The most important quality you can have is to be Unstoppable! Self-Affirmation, God, AA, whatever works for you (My point is there are several ways to keep your head straight when the times are tough). You decide, In Advance, to Not Give Up! You never quit! Will power alone isn’t enough, there needs to be a reason, a “how” that doesn’t waiver. I have 14 years of success behind me! That doesn’t mean I always made the right move… That means I either profited in the form of a valuable lesson that would result in a financial gain in the future or profited financially. Remember this phrase, “The Only Wrong Move Is No Move”.
The Clock Counter
People who are successful believe that every day is a race against the clock, not to create stress, but to create momentum. Unsuccessful people, 80% of people, look at a clock and it tells them when they have to start work and stop goofing off, when it’s coffee break time, lunch time, end of the day, the weekend, happy hour and on – unsuccessful people see the clock as the indicator of when they can stop working instead of a tool to measure habit completion for the day.
Habituative Goal setting is the only way to succeed in Real Estate. Goals are only achieved through habit change and focusing on strengths and Revenue Generating Tasks. Anything that costs us less than our hourly income, as a rule of thumb, should then be delegated since, by definition, it becomes an operational task.
*When I talk about “Sales” in the below copy I am referring to purchasing from Motivated Sellers.
1. SALES STATISTICS Only 3 % of any market is ready to make a buying decision today. That means, to us investors, only 3% of Motivated Seller prospects are ready to sell today and part with their hard-earned money. (In the form of selling under value)! They are or have done their research or provided their information to every investor’s passive marketing lead form they could find. Sadly, the marketing that does work for that segment of our target market is the same marketing the other 28.1+ million investors in the United States are doing for the remaining 97% as well. It doesn’t work for them. I don’t care if it’s bright colored handwritten mailers at $0.54 a pop, Cold Calling, Bandit Signs, Text Blasting, RVM or anything else. The screaming ads will never work for 97% of your target market but we all continue to think it will.
What’s the remaining 97% of the seller market made up of? Don’t worry, I’ll explain that below.
2. MARKETING. Out of 100% of prospective sellers, only 3% are in BUYER mode (ready to sell or must sell)! They’ve done their research and know what they want or need to do. This 3% is where EVERY company is THROWING their big marketer bucks! That’s a lot of competition! 17% are in INFORMATION GATHERING mode. 20% are in PROBLEM AWARE mode. And 60% are in NOT AWARE of problem mode.
3. SALES. (purchasing off market real estate) The Epic Rule! Law of probability states the more people you call on the more likely you are to make a sale. This is true, we call over 95 thousand people per day! There is a huuuuge piece missing here though and well get more into that in Psychology. *Note, it does not say the more text blasts or ringless voicemails you send. It says the more people you call on!
4. PSYCHOLOGY. Here’s a secret about cold calling. People do not mind being called. They mind receiving useless sales pitches that wouldn’t have interested them if their life depended on it. A real cold call means you are listening to people. All good human relation is based on asking good questions and listening. Annual reports have shown that consumers love salespeople who learn about their situation and try to help them in every way. They hate salespeople who only shove offers down their throats and want to talk, talk, talk. Prospects are 10x more likely to listen if they feel they are being educated and not sold to. Ask questions and pay attention. How did this occur, when did it occur, what are some solutions we can discuss, what are the benefits of moving faster or slower on this? Reading is the key to your success and the future and hard work beats formal education every time. Successful & Wealthy people just worked harder. Discipline. Successful people see themselves as a helper. How can you help or serve this person?
Let’s say (TIM), for whatever reason, needs to sell his 2016 Corvette that he loves. He’s emotionally attached to it. He doesn’t want to sell it but because of (let’s sat a change in the economy) he is having trouble making the payments now or could really use the money back from the car. 1. He might go on to a few dealer websites and insert his information to see who will give him the best payout). In this he is looking for the highest bidder. *Same as passive sellers look for and fill out lead forms. 2. Maybe he’s getting blasted by unwanted texts, email or ringless voicemails that are just annoying him because in place of him seeing them as an option, they just remind him of his unfortunate situation, every day. 3. Someone Actually calls Tim. Altruistically explains to Tim who they are and why they’re calling. Asks questions about why he initially bought the car, if it’s paid for or do payments need to be taken over, what happened that he wants to sell it? Then begins to discuss with TIM, VS against Tim(Which is how all sellers will see a text blast, online form, or ringless voicemail) about solutions that could make the much needed transaction take place in the most painless way to Tim. Now this is how the Law of Probability works, it’s in the numbers and the quality, sincerity of your service offered which you are trying to offer in exchange for financial gain.
Final Thought. If you're confident in your service, it's time to focus on a very untouched 97% of your target market by ripping potential leads eyes away from their scrolling or researching into listening how you have the solution to their need, not the fanciest, self-absorbed, sales pitch by TALKING to them! We do this every day!
I hope everyone is staying safe out there and Happy Easter weekend!