The Science of Flipping - Talk To More Sellers With Skip Tracing

Episode Date: February 4, 2021

Talk To More Sellers With Skip Tracing

What is up, everybody? What is up? Welcome back to the Science of Flipping podcast. I am your host, Justin Colby. And on this episode, we are talking about the value of skip tracing and why it is so important you have the right skip tracing. Now, most of you are either doing cold calling or text messaging, or maybe you're even doing voicemail drops. So let's review the importance of your skip tracing, what you should be skip tracing, and what type of results you should be getting them from so that you have the right tools, systems, processes in your business to get the right results. Now, you guys all know that this is a podcast

about getting the right processes, tools, and systems for your real estate investing business. If you have any further questions, make sure you go over to thescienceofflipping.com. Tons of free resources over at thescienceofflipping.com right there. Also, if you are not checking out my YouTube channel, I drop a video every single day on my YouTube channel. So make sure you are going over to YouTube and subscribing to my channel. Watch the videos. Give those bad boys a like when you're liking them.

I would greatly appreciate it. And I know it'll be very helpful for you. So with that said, let's jump into skip tracing. This is something I don't believe many people put enough value on. They're all concerned about how am I going to generate leads, but then they want to save money by using incredibly cheap skip tracing. Now, the first question is where's the best skip tracing service? And I have looked high and low and I still do not beat batchskiptracing.com.

If you use the promo code TSOsof that stands for the science of flipping tsof promo code they will give you a three cent discount on your skip tracing uh you also can use one of their larger services that that we're not going to necessarily talk about here but if you go to batch skip tracing.com or I'm sorry, batch skip.io batch skip.io, that is a larger service. You can create an account over at batch skip.io. They have lists in there. They have skip tracing in there. They have a much larger service for your needs. Again, use promo code TSOF. They will give you a discount there as well. But let's stick to their skip tracing. Their skip tracing is the best that I've found. If you were looking to do bulk or even individual skip tracing, personal residences, meaning not LLCs. Now they do have

a feature for LLCs. So you can go over there and you can skip trace LLCs. However, it is not quite as accurate as finding the people. So what do I mean by that? It's not batch skip tracing's fault. It's literally, it is much more difficult to find a good phone number for an LLC than just a person. Okay. Now, for those of you who have used super cheap skip tracing, like $0.02, $0.03, $0.04, $0.05, you probably have experienced terrible results. Just guessing, but you probably have. Now, what I highly encourage you to do is get better skip tracing. As I mentioned, batch skip tracing is the best that I have found for the price point. So after you use my promo code TSOF, it will reduce you down to 15 cents per skip trace,

which is the best price that you're going to find out there for high quality value skip tracing. You don't want to go use some random company that is offering two, three, four, five cents skip tracing because in this space, you get what you pay for. Now, I could make that argument for a lot of parts of business and in life in general. You get what you pay for. Coaching, you get what you pay for. But the reason why this is so valuable is because once you spend that money, you now have at minimum two, maybe even three ways to market to the seller.

You have cold calling, you have text messaging, and you have potentially voicemail drops, if you so choose. So I want high accuracy on my skip tracing. So I want to use a better service. And so I want to pay for a better service because if I'm, let's just say I am text messaging 300 people a day. Let's just use that. But only 10 of them are the accurate number. Well, then I'm wasting my time. I'm wasting my money on the text messaging platform. I'm wasting my money on the skip tracing. And now I'm wasting my time, which is the most

valuable thing that I have. If you have better data and you actually have 90% accuracy, meaning if you text someone saying, hey, John, I saw you on 123 Main Street, and John replies, yes, I do. And yes, I'm interested in selling. That's an accurate connection. That is the 90% ratio that you can get from batchskiptracing.com. Now, I know this sounds like I'm just selling you batch skip tracing. And it's only because the reality is, it's the one I use and it's the best in the industry, right? So yes, full disclosure through my promo code, I make literally a couple of cents, right? Literally cents, pennies. But I'm doing this to tell you who I use.

And then also to tell you, if you think 15 cents is expensive, you need to reframe your thinking. The investment in accurate data is really important. I just gave over another list of 30,000 people that we are going to call and text because if I'm already going to be calling them or texting them, I might as well have both of them going at the same time. And if I'm already going to be calling them or texting them, you know, I might as well have both of them going at the same time. And if I need to do the volume I want, then I need to have a bigger list. So depending upon where you're at, you might have a list of, let's just say probates that has a hundred people. I would use batch skip, right? 15 cents. So you're going to cost you $15. I have a much larger list. I have a much larger budget.

I just gave over a 30,000 person list. Obviously it's going to be a lot more expensive than that. Right. And so, um, you know, it's going to be closer to $4,500. So my point to all of this is if you really believe in marketing, then don't skip over what I believe to be largely the most important part is the accuracy of the data. I pull my list from PropStream. So if you go to PropStream.com, you know, if you use the promo code TSOF, or you can go to Justin's data or TSOF data, put in promo code TSOF, they'll give you a seven day free trial at PropStream. That's where you pull the list and bring that list over to Batch Skip. Batch Skip and PropStream have a very good working relationship. So it'll be very easy to make sure that your lists are

done right and given over to Batch correctly. And then that's my business model. So if you're wondering where I'm pulling my list is prop stream, use promo code T S O F get seven days for absolutely free. And then, uh, I also go over to bash skip. And here's the thing is you have good contact. So here's the cold calling numbers. I'll give you expectations for your cold calling numbers. For every 100 calls you make, you should have a 90% contact ratio. And what I mean by contact is when someone answers the phone, you say, hey, is this Jeff? They say, yes, this is Jeff. Contact. So you're looking for 90% accuracy on your contacts. Not 90% of calls made.

There's someone answer 90% accuracy. When someone answers the phone from there, you are going to basically get roughly 7%, 7 to 10% real seller lead ratio. Meaning if you make a hundred calls, you're going to get, you know, 90% accuracy on the pickup, right? And so roughly you're going to get 10 people that pick up and you're going to have nine people that say, yes, this is the right person. Out of those nine people, you're going to get 7% of those nine. So not even one are going to say, I'm looking to sell.

So that's why you've got to make a lot more than 100 calls a day to get any type of volume. Follow my math there? Okay. Very, very simple, right? So you're going to get, typically, if you have good data, 10% of your calls are going to pick up. Out of the 10% of the calls, you're going to get roughly 90% accuracy. Right? And then you want to be able to have 7% lead ratio. And that's the numbers.

And that's what you should be expecting. Right? And so if you know your numbers, you can start to pivot. You can increase your calls. You can hire other people to do it. I have two different cold calling companies that I work with. I'm happy to refer you, uh, whatever company that you so want. If you want to start working with companies, or if you're going to do that yourself, then that works as well. So roughly for every 400 calls, you should expect one to two seller leads. That's your data right there. Hopefully this made a lot of sense. Hopefully you see the value in skip

tracing. You get what you pay for. Batch skip is the best in the industry. But when you're calling and you're texting, you want to make sure you have the right people first and foremost, because if you start calling and you say, hey, is this Jeff? And it really is Susan. No, Jeff doesn't live here, never has lived here. You're barking up the wrong tree. You're really going to have a challenging time. So hopefully that works. Use promo code TSOF, get yourself a discount. And I hope this worked for you guys. And also make sure you head over to YouTube. Make sure you're subscribing a video a day there as well, as well as a podcast episode every single day right here on the Science of Living podcast. I will talk to you guys on the next episode. Peace.