How To Use Our Real Estate Data - Getting Started
Getting started can be intimidating, in this video we share a few tips on what to do once you've received a lead list.
Jared Wright: What's up Andy? I would do a little jingle, but that needs to be post produced from now on and my agent said I can't be putting out free music anymore. So...
Andy: What are you MC Hammer?
Jared Wright: Well, what year are we in, 1991? Jesus, dude, let's not talk about your high school years. MC Hammer. Let's get a little bit more 2020.
Andy: You prefer NSYNC?
Jared Wright: Maybe. Yeah. Bye bye bye. I don't even know if that's NSYNC, but Sounds good. No, dude, we're here another session to share the knowledge, right? It's a grassroots conversation that we love to talk through. So, today's topic, Andy and I were wrapping via text earlier today and we're like, "Hey, what do you want to talk about?" And he's like, "let's just keep it as simple as possible and touch on what do you do once you get a data file a database from the share group?" And I was like, "well, what do you mean dude? It seems pretty self-explanatory," but it's not, because I think that's the variable that comes into play more than any is what's the implementation once you get the database?
So Andy, yeah, let's touch through that, man. So what do you suggest? Let's say you have a new client that has a new list from the share group, let's say some absentee owners and how do you get them organized to utilize the data to have the highest ROI?
Andy: Yeah, because my new favorite, dude, let's go with my new favorite just because I think it's... My new favorite is the move down list.
Jared Wright: Oh, okay.
Andy: Yeah. My new favorite, absentee owners I was riding that high and fast for three and a half years, but the move downs-
Jared Wright: The downsizers. So the elderly people having to downsize, right?
Andy: I think... Yeah. I mean think that is, with what we've seen inside of our data, we've seen that be one of the more successful lists of recent, meaning the last 60 to 90 days. It's been a hugely successful list.
Jared Wright: That is so awesome.
Andy: That being said, too many dude, and this is honestly what I see the most happen is that they will order the data and they just simply sit there with it and almost second guess it. So they'll sit there with this pile of high quality data. Literally, we had a client last week, they're like, "I'm just so scared to make calls." They made the calls themselves because they've never done it, 15 calls in, they set two listing appointments.
Jared Wright: Yeah. That's what's up. I love it.
Andy: So I'll put it this way, man, I don't care what they do. In fact, inside of your text and my texts, I said, "Listen, I don't care if they send up smoke signals for all I care." Do something because just with the data you're going to get something.
Jared Wright: Totally.
The tried and true methods
Andy: I think the tried and true method, as you know, is the phone call.
Jared Wright: Right.
Andy: The second tried and true method in what you guys, I think you've also seen success with is the direct mail piece. So whether it's yellow letters or whatever else, but I will say this, if people are looking to keep it no cost, low cost, the calls are the way to go. The cost inside of a yellow letter or any sort of postcard, they've gone up because of postal rates going up.
Jared Wright: Yeah, absolutely. You got to pay for the paper and you got to pay for the stamp, right?
Jared Wright: Even the every door direct mail doesn't get as targeted as you want with a segmented list. You're still paying a decent amount of money for postage. So there's applications to utilize the data, but what's the budget and what's the effort, right?
Andy: Absolutely. So then the other piece of it too, and I think that a lot of folks miss this aspect with the data that you guys provide. So because of how you guys provide the data, we're also seeing again, right around 60% of the people that come through have emails. So if that's the case, there's nothing stopping people from doing cold email campaigns. Now there's ways to do it, but don't just sit on the data.
Jared Wright: That brings up a good point. We had a client recently that bought a list and was sending out the emails as a point of communications, but email becomes a complicated story just because you need to make sure, like you said it, you have to have the right setup. So you have to have the right sending domain. You don't want to use your main email address. You want to make sure the IP address you're sending from is built to send out emails. And so there's a lot of variables that can come into play that can affect the email marketing, but that's a whole other topic. But email works, text works. Yeah, dude, there's a guy, my boy, I'm going to shout out Blake Wallace in Minnesota, the dude door knocks.
How do you take that next step once you get the list?
Jared Wright: I mean, even to the point where you're controlling your communication. How do you take that next step once you get the list? You implement a plan of attack. And one thing we didn't touch on yet, to me the most success from this is with a multiple touch campaign. So make a phone call, maybe send a letter or if you're going to send an email, the ones that are open in the email, whatever technology you use, or the ones that are clicking on the email, that's who you give a phone call to or that's who you send a direct mail message to. So be smart with the data, but at the end of the day, use the data to your advantage.
So there's people like Andy who's sitting over here, the very good looking young man, and people like me that's way better looking than Andy that can guide you guys once you have the data. I do know our team internally does have these conversations of like, "Hey, where are you at from your experience with marketing and utilizing data? Are you a brand new agent? Is this first time thing for you, let's talk through this." But if you've been doing this before and utilizing these types of services, then here's what you can expect and here's how we can take it to the next level.
So, there is something to be said of don't be afraid to ask a really easy question once you secure the data because there's an answer right around the corner that can ultimately help you get that return on your investment.
Andy: And [inaudible] do it again, agents, I think in general or anyone who's ordering the data just needs to stop second guessing it and simply get into action. Whatever the action is, whatever it is that they want to do inside of approaching these folks sitting with the data, the longer it sits, the more stale it gets. So even a few days, as soon as you get it, run with it and make something happen. You guys will be astonished with the results.
Jared Wright: And what we hear more than not too, when we do call, we do call every one of our clients after 60 days to get feedback and sometimes you'll hear is like, "Man, I only wish I've gotten on it quicker. I only wish I'd have called it sooner. Because yeah, I did talk to old Mrs. Ethel Smith and she downsized a month and a half ago." So there are a lot to the recency and the urgency of making those phone calls because if you do get through that list, you will have listings, you will have a return on your investment and then you will be buying another zip or Andy's ISA service to grow your power team.
Andy: So I'll go the bonus route too, dude, before get off on this thing. The one thing that we keep teasing, we do need to go a little bit further into this as we move, but the social media ads, I think is again, another way that you guys can leverage, or agents can be leveraging the data that you guys provide. And there's a set way to do that, a custom audience look alike audiences and actually do it the right way. But that's a huge missed opportunity I think also inside of talking [inaudible]
Jared Wright: All right. So yeah, next time we chat in two weeks, let's dig into the digital aspect of utilizing the share group data. There's a lot of right ways to do it, but there's a lot of wrong ways to do it too. So I think that you have some insight and some experience in that. So I would love to focus on that and yeah, take this thing baby. Let's wrap again in a couple weeks, Andy. Much love, brother.
Andy: Yeah, man. As always.