Follow Up: The Key To Wholesaling More Houses
Want to wholesale more houses? Forget trying to make ‘viral’ videos, getting on TV, or relying on squeezing in an 80 hour week of hard cold prospecting. The one thing that really separates the dreamers from the deal doers is the follow up.
The truth is that there is no one magic bullet for marketing for wholesaling houses. You can still generate connections in a wide variety of ways. You can mail, blog, run Google Ads, network and knock on doors, and even use bandit signs and car magnets. It’s not that hard to drive traffic to your website, Facebook traffic or even phone calls.
However, the deeper truth is that at least 70% of those contacts won’t take action and become real customers on the first connection. Many will require 7 different touches to convert. This is even truer in real estate where transactions are so big, emotional and take so long to close.
So, if you can’t expect three quarters of your ‘leads’ to close on the first contact, the key to closing more wholesale house deals is follow up.
How to Follow Up
It used to be simple. The phone was about your only tool to keep following up. Now everyone has their own preferred medium for communicating. That may be phone, text, email, social, or even the mail. If you aren’t speaking their language, you are just banging your head against the wall. Try to connect in a variety of ways, ask how they prefer to be contacted, and actually listen.
How Much to Follow Up
If you give up after one or two calls or emails you are barely average today. You’ve got to follow up enough to stand out from the competition, and still be there when they give up.
Stop just before you become so annoying they don’t want to hear what you have to say - no matter how good the deal is.
How to Manage it
Even though follow up is so important, it has to stay affordable and efficient. That doesn’t mean skimping, or you are burning all your upfront marketing money invested, and profits on the deals you do close.
So automate and delegate. Use email drip campaigns, broadcast, remarketing ads, and virtual assistants. Then you should only be spending your time speaking with the most qualified and ready to act leads. Then you can do your best with them, and enjoy a lot more profit and ROI on your time, and make more money in less time.
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