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Next question here. “I just started using the Automarketer system and I sent out a hundred voice blasts and a hundred text blasts. The response rate was pretty amazing at about 35%, almost seventy leads.” Wow – great. “But I haven’t put together any deals yet. It’s been a couple of weeks since the leads came in and I haven’t called them all yet, but you’d think that by now I’d have a deal together. I’m not sure if it’s the quality of the leads or my ability on the on the phone. I feel pretty good about talking on the phone. I’ve been in sales most of my life, but somehow I’m not getting the memo’s signed. How many leads do I need before I can expect to close a deal?”
It’s not just the quality of the leads. It’s your skill. It’s your abilities. You have to be able to sound credible to the people that you’re talking to. And you also have to listen to their problem. Usually it’s just because you don’t know the language yet. You’re not fluid with it. And you can’t think on your feet yet. So give yourself more time, talk to a hundred people before you can start sounding fluid at all, and some people it takes even longer than that. You’ve got some sales skills to start with, so it should be a little bit easier for you to learn the language, but you still need to learn that language. You need to come across as credible, as ethical and that you have a real solution for the problem that these sellers have. Because what they, what you’re going to offer them isn’t necessarily what they want, but it still may be the best choice for them.
You know, if somebody says, look, I’ll do this lease option deal with you, but I want $20,000 down. Well, they’re not going to get $20,000 down. That’s not going to happen, so what can happen? And if you go into the Automarketer there’s a button there that says “Seller Options,” if you click on that, it’ll open up a list of the options that sellers have when they’re trying to sell a property. And it shows all the different ways that they can sell a property. If you understand what those are, you read through it, and you understand it, you use it as a little cheat sheet as you’re talking to them, it’ll make it easier for you to explain it to them. “Well, you can do this, or you can do this, or you can do this. Or, if you want, I can do this for your, or I can do this for you,” and you give them the different options that you have, whether it’s subject to, or multi-mortgage or land contract or a lease option, or assignable cash deal, you have that zero-down hierarchy structure, you know, structure hierarchy that you can throw out at them and say, “I can do one of those for you if they make sense.” And if you listen to them, you’ll know which one makes the most sense.
Nobody else is going to do those types of deals with them. Nobody else will understand how to do those deals with them. That’s why it’s so vital that you understand not just the for rent method, but also the zero-down hierarchy. So that brings us to your question, I guess, how many seller leads to I need in order to get one closed? You know, once you get good at this, if you call three people, cold call them from Craig’s List, that have their properties for sale, one of those people will say, “Yeah, I’d consider selling rent to buy.” And out of that, out of those people that you talk to that say yes, then it’s probably one in three to one in five that you can get a signed lease option memo on.
When I talk to people that have been doing this for a long time, I’ll ask them, “So how many people do you have to talk to before you get one to say yes?” “Well, everybody I talk to does it with me.” And we find out that they only talk to people that are actually ready to go because of the way they’ve set up their business. And that’s where you want to be eventually, so that almost everyone you talk to closes a deal with you.
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