Epic Real Estate Investing - Lead Generation for Real Estate | 676

Episode Date: June 7, 2019

How do we buy that real estate at the discount? Where do we find those quality leads? Tune in and learn the 4 types of leads that will help you get the ones you need! Learn more about your ad choices. Visit megaphone.fm/adchoices

Hey, your old buddy, Matt here. Before we get started today, if you're really serious about your real estate investing and turning it into a part-time or a full-time business, you might like to attend the live three-day Epic Intensive Lead Machine Workshop that we got coming up in Manhattan Beach, California. It's July 18th through the 20th. Head on over to Epicintensive.com and get yourself registered. I think what the biggest thing that I got out of this weekend, out of the Epic Coaching intensive, is that you don't have to be super smart. and super technical and understand every single aspect. There's people that are smarter than you that you can just leverage their knowledge.

So you don't need to know everything and be the smartest guy in the room to do this. Today I want to talk about leads, specifically quality leads. We're going to talk about lead generation for real estate investors. And the main thing that we're going to focus on is generating quality leads. This is Terio Media. But before we get started, if you're serious about your real estate investing and if you're really serious about kicking up the amount of opportunity that you can create for yourself, you might want to grab a free copy of our lead machine architecture. It's the five building blocks that we use to create and or optimize all of the lead generation strategies we use over here at Epic. And so if that sounds good to you, then you can head on over to Epicleadmachine.com, Epicleadmachine.com.

So let's get started. When it comes to lead generation for real estate investors, we all know we need to have leads to contact, right? And a lead is essentially, I don't know, you could look at a lead as a name and a phone number. I like to get a little bit more defined with the lead being it's a name, a phone number and someone that owns or has the ability to sell property, right? Has control, owns or controls and has the ability to sell it. So we all need that.

It's a people business. Every piece of real estate we buy ourselves is going to be from or two and other person. So we've got to find people that have properties to sell. So that's what we call a lead, someone that owns a property and has the ability to sell it. But a huge thing that holds people back is their inability to generate quality leads. There's a lot of people that own real estate, but how do we buy that real estate at a discount? Where do we find those quality motivated sellers, those sellers that have the motivation to sell you their property quickly at a discount? And I get it all the time. People get frustrated because nobody seemingly

wants to sell their property at a discount or even worse, they want to sell their property for more than what it's actually worth. And it makes sense. I mean, I get it. I experience it on a daily basis. I have those interactions. I have those conversations. So nobody understands it as well as I do. That's for sure. And a huge mistake I see real estate investors make is they go in assuming that all of the leads are supposed to be hot prospects, regardless of which channel they use to generate those leads, they go on under the assumption that, you know, what's the best channel? Where are all the hot ones at? And that's a big mistake. And the other mistake is they go in or never even get started because they assume that no one is really barely even interested. Like everybody in my market is

underwater and no one can sell or everyone here is affluent and doesn't have to sell. And they've go in and those are two really big mistakes. You're assuming every lead is going to be hot or you're assuming every lead is going to be barely interested. But here's the thing. you're going to find a mix. There's going to be a lot of gray area in that mix. There's going to be people that are ultra-motivated, and there's going to be people that have really essentially no motivation at all. And why they're even calling you, that can be a big mystery.

So there's a client I have right now, and when we met, I guess we've been working together almost four or five months now. And when we met, he was already doing a deal or two per month. And when he came to us, he really wanted some help with his systems, his follow-up systems and his project management systems, and he really wanted help with his lead generation. He wanted to get that automated. He wanted to get out of that part of the business

so he could just be talking to sellers, taking appointments, and closing contracts. So we went ahead and we went to work, and we got him all started. We went ahead and turned everything on for him. And almost immediately, he had a few new deals right under contract, and he was really excited. And he went and got those closed,

and he put some extra cash in his pocket. He came to us, and he's like, okay, now let's really turn this up. Let's really go for it. So we did. And our next response from him actually really surprised us. It wasn't what we were expecting at all. And I'll tell you what happened in just a sec.

But first, if you'd like a copy of the building blocks that we use to create his and our other clients lead machines, go ahead and take a look at Epicleadmachine.com. There's a free five page download, lots of pictures, really pretty, really colorful. Just the basics of the five building blocks that every lead generation strategy needs. And you can grab a copy there, Epicleadmachine.com. All righty. So the Voxer message that I received from him, I use my cell phone and my private clients that have access to me to be a voxer.

And so I interact with him a few times a week. And his voxer came to me one day and I was kind of expecting to hear. I was waiting to hear as I was anticipating after we had turned up his lead generation. I was really kind of expecting to hear like his excitement and his enthusiasm. And he was like, wow, you guys are really good at this. But actually we got something very differently. He said, what the hell is going on? What's happening?

You know, none of these new people are quality leads. What are you guys doing differently? What switched? What happened? And I was like, scratch in my head. I was like, what do you mean? None of them are quality leads. We're doing the same thing.

And it works for all of our other clients and works for us here in our business. It took me a second. And I said, well, we're doing the same thing we did before. Then I said, okay, well, let's go ahead and back up for a second. And I asked him, what has experienced been? Like, what are the results that he's getting? Because, well, I've got a few more deals under contract. But I'm having to talk to a lot of people.

And a lot of those people aren't motivated. And my response was, well, yeah, of course, of course you are. And here's why it has everything to do with basically like lead generation stats, market stats, combined with your expectations. So this is what I showed him. There's going to be four different types of leads that you interact with. Four types of leads are four types of people that you interact with. And we just kind of keep it really friendly and just use the color of apples.

We use fruit. So you're going to have red apples that call you. You're going to have green apples that call you. I don't have a brown pen. But we're going to use this one. This is orange. We're going to call these brown apples. And then we have rotten apples.

So these are kind of our four types of people that are going to call us. And the red apples, these are the motivated sellers. These are the sellers that need to sell. Your green apples are your people that want to sell. Then I would say your brown apples are your leads that are curious. And then your rotten apples, these are your people that are, we like to say, affectionately crazy. Okay. So those are the four types of people that you're going to get. And the stats, they kind of break down like this. Of the, all of the leads that you generate, about 3% are going to be red apples, people that need to sell.

And then about 12% or so are going to be green. These are the people that want to sell. And then your brown apples, these are going to make up about 70%. people that are just curious. I got this thing in the mail. What's it all about? How much can you give me? I was thinking about selling, but I'm not in a real hurry.

Maybe I would if the price was right. They're just kind of curious. What's this all about? Is this a scam? Is this for real? How does this work? They got all these kinds of questions. We've all had those types of people,

and that's mostly who we talk to, right? And then down here, you've got about 15% of people that are crazy. And when I say crazy, what I mean is people that get angry, and annoyed and I'm going to report you to the mail police or how dare you send me this mail and blah blah blah and they're all upset and so those are the crazy people so if this is your breakdown and you're sending out 100 pieces of mail you're going to get three three of those are going

to be need to sell most likely in those stats 12 people are going to want to sell and you're going to have 70 people you're going to have to talk to that are just kind of curious and then you got these 15 people that are just uh you know they're out of touch with reality and they're mad at something else in the world and they're taking that on you. This is essentially how I see it. So if you have 100 people and then if, so if you want to triple the number of the deals that you do, then you have to triple essentially your quality or excuse me,

your quantity of those leads. But if you want to get nine deals done out of these three, so we've got it times it by three, you're going to have to time the people that want. That's going to be time multiplied by three as well. And this is where my client was really experiencing is he didn't realize the 70 people. This is going to jump up to 210 people if we triple. the lead volume. So 210 people is a lot different to get to those deals. And sometimes you might

have to talk to all 200 of these people before even get to those next three, four, five, six extra deals that you're going to have up here. All right. So keep your expectations appropriately set. And when you're ready to amp up your lead volume, your lead generation, understand to get more of these, you're also going to have to interact with a bunch more of these as well. If you'd like to know what we do and how we go ahead and we do this for our clients, go over to and check out our lead machine architecture. You can find that over at epic leadmachine.com.

Real quickly, before I go, I'll kind of give you the, if this is your lead generation, now that I'm thinking about it, I hadn't planned on talking about this, but this will be really useful for you, I think, is the what you need to do and how you allocate your time to these leads. Because all of these leads, they've all called you off of your marketing, but they don't all deserve the same. amount of your time. And so this is how we divide it up. I'm going to give you first the recipe for success. Okay. So this is the recipe for success. Let me find a different color pin here.

Recipe for success. You want to spend of these people that need to sell, you want to spend 90% of your time with these people that need to sell. Okay. With these people that want to sell, you want to break that down to about 10% of your time is going to be spent with these people that want to sell. Now, these people that are curious, 70% of them, how much time do we have left? We don't really have a lot of time, do we? No, so once you define them or discovered that they are in this category, you're going to spend no time with them, zero. And you're going to let your follow-up system spend the time with these people until they become a green apple or a red apple. And this is the type of systems that we set up for our clients as we go ahead and we make sure that.

that they have all the automation and technology that is spending the time with these curious people so that our clients can spend the time with the people that are more likely to put money in their pocket. Now, the crazy people, what do we do with them? Well, we just got to flat out ignore them. Ignore them. So this is the recipe for success. That's the success recipe. Let me show you the other side of it. The recipe for failure looks like.

So the people that have a really hard time with this, this is what they do. they'll go and they'll spend 90% of their time with the curious people because that's where the most people that are talking to them. They'll spend 90% of the time with these curious people trying to force them to be red. And you just can't do that. You can't take a brown apple and force it to be red. Only God can do that. You can't do that. And that's a recipe for frustration.

It's a recipe for burnout. It's a recipe for quick exit. of this business. So that's the first thing that they do. They spend 90% of the time with the curious people, the brown apples, trying to force them to be red. And then the next thing that they do,

down here with the crazy people, is they focus on these rotten apples. And that's all, they can't get that out of their mind. They're afraid to pick up the phone. They're afraid to call people. They're afraid to go on appointments. They're afraid to even send out more marketing.

And between these two things, taking these brown apples, trying to turn them red, and focusing on, all the negative calls that you receive, that's a recipe for disaster, failure. So, spend 90% of your time with the red apples that need to sell, spend 10% of your time with the green apples that want to sell.

Once you've identified somebody as a brown apple, they're just curious. Go ahead, plug them into your follow-up system and let your follow-up system spend all the time with them. And then just flat out ignore these people. What they think of you is none of your business. So stop paying them any mind, all right? That's how that turned out.

And so I just kind of share with my client that, you know, If you're going to ramp up the lead generation, you're going to ramp up all four different types of those leads. All righty. So if you're serious about stepping up your lead generation, it might make sense for you to grab a copy of our lead machine architecture. And you can get a free copy at epic leadmachine.com. And so here's what we know.

About quality leads, if you want to do a lot of deals, you'll have to generate a lot of leads, right? And with a lot of leads, you're going to increase the number of all four of those categories, all four types of those leads, the red apples, the green, apples, the brown apples, and the rotten ones. And they're going to go up proportionately. And so really, ultimately, the quality of your leads is going to lie in the quantity. So just adjust your

expectations appropriately. Set aside the extra time to go through those leads or hire someone to help you do that or team up with somebody to help you do that. Someone to help you sort through them to find the red ones. All right. So it's been a pleasure. And don't forget if you want to ramp up your lead generation, grab the five building blocks that we use to build our lead machines. They're totally free. It's a nice little book. It's got, like I said,

it's got pretty pictures and it's really short to the point. It gives you just the usable nuggets right there, and you can get that at epic leadmachine.com. All righty. So until next time, I am at Tario at Epic Real Estate, Living the Dream. Take care.

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