The Science of Flipping - Your AI Agent Strategy Is Costing You Money | Bill Beck

Starting point is 00:00:00 I like things to actually make the company and mean more money versus the argument of like, oh, this is going to help me scale so I don't have to hire people. It probably could. But I think the listener really needs to understand how are they looking to utilize it? Because it'll only do what you tell it to do. I think that's a big takeaway that most people need to understand about, hey, Raf, you're any AI is what are you using it for? Because I love it for agent outreach.

Starting point is 00:00:23 I love it for nurturing and following up with the leads. But I do believe it could help the right leader, genuine leader, founder to go to scale. What is up the Moore show family? We are back with another incredible investor. And obviously every one of these episodes is brought you by The Moore Club. If you go take a look, it is an absolute free club for you to join. Go look up the more, timeformore.com.

Starting point is 00:00:59 Time for more.com. That club brings you each and every one of these episodes. Now, my guest today has 15 years experience in the real estate space as it, expert investor as an agent as a capital raiser. He has raised millions and millions and millions of dollars, has done hundreds, if not thousands of transactions in both investor and retail space. We have Bill Beck here. How are you, bud? Justin, appreciate the opportunity to be on here. I've really enjoyed our process of building a relationship and happy to get into the stuff. Yeah, well, the cool part here is I didn't even mention it at the gate, but you've been in the game so long.

Starting point is 00:01:37 you saw AI coming quite a while ago. And I want to dive into how AI is going to change the game for all of us here in the real estate space. And you are, like you say, eyeballs deep in this game right now of AI. And we'll get there. But I want everyone to kind of know, you know, not your story, but kind of what built up to where you sit today? Like, where are you sitting today transactionally? And then what kind of led to this transition into really leaning into? AI. Yeah, cool. Let's reverse engineer that a little bit. So I have two companies,

Starting point is 00:03:07 RISE, your traditional wholesaling shop, it's about a 16-person team. Half of us are in office, half of us overseas. Wholesailing, novations, we won't discriminate against listings, if that's what it leads to. We'll pick up a bunch of flips every year. And then, of course, I'll cherry pick some things for my own rental portfolio. But leading into that, it was a a lot of, I feel like the normal sort of journey that a lot of us entrepreneurs go through of, I was in the corporate world. You know, I went, went to college, got my degree, went into some of those, you know, fun jobs that we all have. We do our corporate time, as I like to say. I was in the back office of a TD loan processing department. That was a bit of a drag. Then I picked up some

Starting point is 00:03:52 excitement, went into pharmaceutical advertising for a bit and learned how to manage teams, budgets, timelines and frankly just learned how to, you know, be a business person. So that was a little bit more exciting for me. All the while, I was partaking in real estate in some capacity. I was either helping people raise money for projects buying some of my own multifamily deals using OPM, right? Other people's money, huge staple of a lot of the things that I've done to get to where I'm at. 100%. But it was almost like one of those, you know, those caveman drawings when you're looking at, you know, the Neanderthal, like the monkey to Neanderthal to a human, right? And for me, that was, I'm going to start door knocking.

Starting point is 00:04:30 I'm going to start writing down, you know, shitty properties that I saw that deserved a phone call, eventually graduated to, wait, I should probably hire someone to help me keep my life organized. And step by step, I got to this point of now I have, you know, an awesome team around me. I have leaders. We do quarterly leadership meetings. It allows me to, you know, spend time with people like you here, right? Networking, understanding what's going on on the cutting edge. So I'm super, super grateful for, you know, the journey that I've been on here and all these awesome thinkers that I have around me.

Starting point is 00:05:03 Yeah, listen, the, I call it like adapting, innovating, right? I think anyone who's been in the game like you, 15 years, like me, 20 years, like, there's just no world that you don't innovate, adapt, right? And that's what keeps the longevity for all of it, right? And so while we're talking about that, I really actually want to lean into what I think most people are. most interested in, which is AI, and how you've started to adapt, lean into it, build it. Literally, you've built something so great with, hey, Rafi. Everyone needs to check that out and we'll talk about it. But what got you to the place of like, hey, something's coming and I need to be in front of this

Starting point is 00:05:42 curve? Yeah. So I love solving puzzles. You know, I think a lot of us entrepreneurs, that's just part of our DNA. You know, we see a puzzle. We want to solve it. And I've gone through a lot of my own puzzle solving, whether it's building the sales and marketing, you know, business, which is rise in traditional wholesaling shop. But as you go through that puzzle solving and that maze of figuring out how to be successful, of course, you go through a lot of pain, right?

Starting point is 00:06:09 We've all been through the ups, the downs, you know, you take an uppercut to the chin, to the gut. You get back up, you keep going. And, you know, you figure out what success is. As our buddy Kent says, this is the first line that I heard him say where I was like, I'm going to stay. steal that. If you do it wrong enough for long enough, you know, you'll figure it out, right? And I am definitely a testament of just figuring it out. Again, it's really because of a lot of awesome people around me and my formula for success, while, you know, albeit pretty corny, has worked out for me at this point. Culture plus people plus systems equals positive outcomes,

Starting point is 00:06:47 right? For some people, they'll say that equals a lot of money, right? But positive outcomes encompasses a lot of money. So I really like to focus on those things in that order. And as part of those systems, we have AI that just happened to, you know, come around town. We're at a lucky time in life where some will refer to it as the golden age of building. So if we're going to sit here, at least rise in my leadership team, we're going to say, hey, we're so systems oriented. We're, you know, we have this systems mindset. Let's get better every day. All the stuff that I'm sure a lot of us out there do the rah-rah chant about. Well, how can we actually apply that, right? Instead of just using AI to help you write an email, what is the true integration into our world? So it was

Starting point is 00:07:30 almost as if if I had a time machine and I decided to rebuild this business from the ground up with AI. And this is a, I think this is a big distinction for a lot of people. There's the, I can pepper it on top, right? I can use AI systems and pepper it on top to enhance things a little bit. And that's great, if that's what you're doing. But then there's this whole, you know, like paradigm shift in your mind of, you know what? I'm actually going to go ahead and strap a few sticks of dynamite to what I've already built. So I don't get trapped in my old ways of thinking because that's how powerful AI is. You need to think about, you know, this is like the advent.

Starting point is 00:08:05 And I love, I forget who said this. But a lot of people will say AI is as powerful as social media or the internet. The one that I love the most is AI is more powerful than all those things. going all said and done, it's going to be just as powerful and high magnitude as when we learned how to create fire, right? Wow. I was like, okay. Yeah, that helps you with that whole paradigm shift of how influential it can be to your

Starting point is 00:08:29 business if you spend the time with it, right? If you kind of pick your head up above the weeds and understand what sort of applications are out there. And you mentioned, hey, Rafi, before, you know, that is the thing. I think a lot of us entrepreneurs in this real estate space suffer with, whether, you're a one man band, you know, three people, 15 people, whatever it is, we all suffer from some level of volatility in our sales room, right? Whether it's the humans that we're bringing into the room and trying to figure out how to, you know, craft them and see if they're a culture fit

Starting point is 00:09:01 and build them to where we need them to be or maybe it's the marketing swings, right, of how we're allocating our dollars. But these are all things that we are solving with Rafi, which is stabilizing that sales room and having a consistent understanding. of when you get to, you know, Friday or Saturday, whatever you deem to be the end of your week, and you're looking at your summary scorecard of your sales team, and you're like, why, why can't Jimmy and Johnny just do the phone calls, right? Yeah. Why can't they hit the follow-ups?

Starting point is 00:09:29 You don't have that problem when AI is on your team. When you have a virtual AI team member, the one thing you can count on is consistency. Now, the difference is how has that thing been built for consistency, right? And that's where there's, you know, there's a lot of people that are trying to solve that same problem out there. Yeah. So, hey, Rafi, who's really for, right? I mean, you know, we all deal with sales issues. Who, who's the best avatar for Hey, Rafi? Yeah. So anyone that gets done with their day today, or they're looking back at the end of the week, end of the month, end of the quarter, it doesn't matter. And you feel like you haven't been able to get the most out of yourself or your sales room.

Starting point is 00:10:09 And you feel like you maybe are lacking some form of, you know, horsepower in the room and just consistency of the script that you are trying to deliver. And that's a, you know, fun feature that we've added into our Rafi development. We just feel like everyone's got their own little secret sauce out there, right? You know, we're all operating some level of a similar type of script. But everyone's got their different angles on how they go about it. And that's probably one of our biggest differentiating factors out there is just our ability to customize the Rafi brain and the playbook for how you guys deliver your message, right? So it's not just how you jump into that ecosystem and you get what you get, we can have a conversation of how to craft it,

Starting point is 00:10:47 you know, around your brand voice. So, you know, for all you guys that have follow-up specialists or appointment setters and you're looking to, you know, 10x that output and just know that the consistency is going to be the same with that 10-X output, I would challenge you to think if you haven't already gotten to this point of I need to adopt AI, start looking at just the sheer numbers, right? Maybe you're paying your follow-up specialist, 2K a month. 3K a month, whatever it is, depending on what parts of the country you're in, and they're going to give you X output, that human being is constrained by physics. And I can get into a whole, you know, nerdy segment on space science, which we won't be doing on this particular show. But that's a

Starting point is 00:11:28 big hobby of mine. And I look at the room and I'm like, all right, there's physics in here, right? There's only a certain amount of people, which means there's a certain amount of man hours that can be put in. And that can always be beat by a proper AI engine that is given the right playbook and the right cadence of how to go attack your pipeline. So can Hey Rafi just remove a sales team essentially? Yeah. And listen, this is a, that's a dicey conversation, right? Because I can't tell you in the beginning of this, you know, episode where we're talking

Starting point is 00:11:58 about culture people systems, equal positive outcomes. And then I say, hey, I'm trying to replace sales rooms. I think this is one of those big topics on the boards, right, that are out there, the forums of how is AI going to be implemented long? term, right? There's this doomsday scenario, right, of Skynet goes live. There's the version of Utopia is built by AI and it takes away all those, you know, those jobs that don't allow us human beings to be creative. But really, what I think the best operators are doing are using this expression of human in the loop. You'll hear that a lot in the AI space of we're not

Starting point is 00:12:37 trying to necessarily replace human teams. We're trying to create a bunch of Captain America super soldiers more or less, right? So we have a human in the loop to pay attention to what our AI is doing. And, you know, the follow-up specialist on my team, and I always am having very open conversations with them, you know, I don't want them to feel threatened by the technology, right, that we're building. I want them to figure out how to collaborate with it. I think the analogy of Captain America was really solid.

Starting point is 00:13:06 And the reason being is, like, that superhuman machine, right? It's the combination of both. And everyone says this, right? And so everyone's heard it, but like, AI is only as good as a person directing it essentially. And so that level of human capability is going to be really, really valuable. But, you know, a human versus a human with AI, I think there's not going to be much of a competition. If people just rely on their ability, I think it is a combination. Because AI doesn't have the emotion, empathy, understanding that a human would for the most part.

Starting point is 00:13:50 Now, the benefit of that, because I'm a user of Hey, Rafi, and I have friends and colleagues that use it and we know the power, the benefit is they also don't get caught up in the emotion. And they just do what the task at hand is, which is a lot of benefit to that, right? Yes. but I think when you layer in some of this human ability to listen to the conversation, see if it needed tweaking, see if it needs an extra reach out because they heard the human heard something in a tone or something of that nature that the AI can't. It's just, it's a superhuman. It's a, it really is.

Starting point is 00:14:28 Yeah. And, you know, from that standpoint, there's a whole interesting segment of psychology. It's another thing I love to pay attention to. I'm typically, you're going to find me reading. either a leadership book, psychology book, or if I'm really in a rabbit hole type of day, I'm going to be reading some sort of consciousness book. But the point is, I mean, it's just it just empowers your guys so much if it's used, right? And I do want to, you know, you asked this question before of it, is it going to replace people? There is the answer to this of, hey, do we

Starting point is 00:14:56 have teams that are using it where they're not necessarily using it to supercharge their follow-up specialist and they're using it pretty much as their follow-up specialist layer? Yes. Right. It can be, it can be used that way for sure. But the point is, like, whether it's our side of the house on Rafi or you, we need people paying attention to it because the feedback loop is super important. That's no different than what goes on with human to human interactions, right? Like the best of leaders, they're paying attention to the feedback loop from their human team to understand, like, all right, how do I help this person grow?

Starting point is 00:15:30 How do I help them get to the next level? That feedback loop is equally important for our AI systems. And that's why, you know, we love any user that comes into Rafi, but especially the teams that have a certain level of sophistication and systems in place where we know, hey, one, you can close a deal, right? Because, you know, AI is really not at that point where it's going to take an initial conversation to a closed deal quite yet. There's plenty of advertising out there of systems that are saying that they're doing that, but I will tell you right now. Not that it's impossible, but it's just improbable with its use case, right, at this moment, down the line as the technology evolves. sure, and we can have that conversation in the future. Just not exactly where it's at right now, but this new psychology is what is the difference on human on human conversation versus human on

Starting point is 00:16:16 AI, right? And not every person when they're talking to Rafi on a phone call realizes that it's AI, but when they do pick up on it and ask like, hey, are you a robot or something? Like, what's going on here? Rafi will deliver a very clean, transparent message, right, of yes, I was built for this exact type of conversation to be very efficient here. And most importantly, what it will say to set the expectation is you will be speaking to a human next, right? Because everyone wants to hear that. As soon as they know they're talking to a robot, it's like, all right, am I going to be talking to a human? Let's get ahead of that objection.

Starting point is 00:16:46 Tell them right up front. But also moving forward from that point in the conversation, now this human knows they're speaking to AI. How does that change some of the dynamic as we move forward, right? when they start talking about a super empathetic, maybe it's a depressing situation, all the stuff that we hear on the phone, do we want it to acknowledge it? Yeah, sure. We might want it to at least label it, right, and have like a quick human-ish moment of, I hear you, that sounds horrible. But are we really going to go to levels two, three, four, and five on unpacking that? Is that weird for the human who knows they're talking to AI? Does it, does it, is it now just looking for an

Starting point is 00:17:23 efficient conversation as opposed to, you know, a human on human? So these, are the things that, you know, I'm trying to stay on the cutting edge of, you know, being one of the product leads at Rafi and just enjoying the psychology of what goes on in those conversations. How does it, how does it differ? Because it definitely does differ? Yeah. You know, listen, the use case also I want to highlight here, like, does it matter what vertical we're in? Does it only talk to, I want to make sure everyone understands. Could a realtor use it? Can a flipper use it? Can someone looking to buy a strip mall use it? What are the use cases that really people could lean into this? Like, hey, you and I both

Starting point is 00:17:58 understand that it's really sales that makes us all the money we make, right? You know, and understanding you have these conversations, but you and I also know your team doesn't have the best follow up because they're always looking for the new lead, the fresh meat, right? That's what sales people do. In this use case of building a pipeline of these leads, can it be an NB use case in any asset class and any, you know, real estate specific industry? Yeah, so here's the deal. And this is what I mentioned before as far as the customizable nature. And I think this is, again, one of our biggest differentiating factors against some of our competitors that are out there, is the ability to offer up the white glove service, if you will, of, hey, here's the library of, you know,

Starting point is 00:18:41 models or playbooks that we're utilizing right at this moment. And that encompasses the normal stuff, whether it's the follow-up specialist, the appointment setter, which is a little bit more of a basic conversation. Do you want a playbook that actually opens up with saying, you know what, right out the gate? I'm going to say, hey, I'm AI. This is an AI conversation. Right. So we're split testing those things at the request of some of our users and seeing what that data looks like. And we have some commercial guys out there that are like, hey, these gatekeepers, man, like I just can't get by these gatekeepers or I'm not, you know, knocking on the door as aggressively as I need to. We have a gatekeeper playbook, right? We have listing agents out there that are that hybrid of I will start with a listing conversation, but I will have active ears for, you know, is there a cash offer opportunity as I'm having that conversation? So to answer your question, And, you know, we are inviting pretty much anyone that's in the real estate space into our room because we feel so good about the large language model that we've been building behind the scenes for just this world. Right. And our process for being able to quickly ingest and intake whatever SOPs or sales process script that you have and turn that into a playbook that our AI understands how to work off of. And there's adjustments, right? We can't just take someone's script and say, hey, here you go, Rafi, run with it. right like you build that script a little bit differently i'm not saying it's a you know binary code

Starting point is 00:20:03 or you know it has to be like full-on developer speak but there's there's certain best practices you know i've spent quite a few hours i'm probably at my thousand plus hour mark right of just tinkering in the lab on how do we get from phase one of a process to phase two what does the goals what's the call flow look like what are the guardrails what's the completion criteria i mean i could go on you know, with, you know, the pinky and the brain lab, as I like to say. Do you think, I mean, to push the cart down the runway, I don't think that's even a saying, but to speed up the time frame, like, can AI really start to replace a lot of humans in the next two to five years in our space of real estate?

Starting point is 00:20:46 Yeah, I mean, I think we're seeing it depending on what roles we're talking about, you know, when we're in this voice AI world, we already see it taking over some obvious jobs, even take your mind out of real estate for a second, just all the simple things that we all do on a regular basis, whether it's like, you know, booking a dentist appointment or I need to make a reservation, you know, to go to dinner this weekend. If AI is at this point of being able to qualify a lead that's in a distressed situation, of course, it's capable of doing these super simple things. Now, we also have what I would say are more straightforward tasks in a real estate business that are not dealing with the emotional sellers. I would say that's one of the more

Starting point is 00:21:28 difficult tasks that anyone deals with in real estate. But yeah, our plan for this year is to get to a point by the end of this year where we have a certain subset of a percentage where we know we are capable of going past that follow-up specialist phone call and getting it to a point of you know, maybe a full process call. And then we really would like to start seeing how it plays in the sandbox on offer calls. I've done this role playing behind the scenes, right, with the offer calls to see how it does. But I still think that human touch, you know, is needed at that level, that human in the loop like we talked about. Yeah. I mean, I could envision, by the way, not being a tech guy, but like I can envision any AI voice to be able to say, hey,

Starting point is 00:22:18 what are you looking to sell and then structuring email, automating the email, putting the other paperwork. Like I can envision that actually happening through the conversation and the AI takes information and somewhere there's probably a way to have a document uploaded within the systems and they I writes the real paperwork and emails it to them. And like I can see that. Now you might already say, oh, that exists already. We're just trying to perfect it.

Starting point is 00:22:41 But man, you know, when you have a homeowner in our case most often and they have interest, getting a real offer in front of them is everything. It doesn't mean they have to accept it, but it gets you way further down the field, right? And I just can see AI at a point of just taking the information, creating the documentation, and sending an email all within one call. And that's how, and this will probably remind you, you know, because I know we've had some of these conversations, but that's how we kicked off with Rafi. Our origin story with Rafi, we did not come out the gate with this whole like prospecting model with voice, text and email. That's That's the feature product that we have today.

Starting point is 00:23:20 But originally, the pain that we were trying to solve was the stigma that I think all of us off market folk have that farm in the off market is, I don't care so much about all these red dots on Zillow. All right. All these active properties, some retail buyer is going to get to that before me. They're going to bid it up. They don't care about the bottom line. And that is generally true. I'm not here to say that that's not the case. But if you had a system that could curate through the thousands of leads.

Starting point is 00:23:47 and whatever your geo-targeted area is and go pluck the golden nuggets, that's where we started, because I kind of got tired of telling my sales team all the time of, hey, the first thing I want you guys to confirm is their readiness of, yes, I definitely want to sell before we start wasting, you know, five, 10, 20 minutes on a phone call. But isn't that what all those red dots on Zillow represent some version of that like, yes, I want to sell? So I'm sitting there looking at them. I'm like, come on. I was like, we have this technology available right now. And this was, you know, a couple years ago. So that's what the original product was. Let's send out a few hundred offers and let's have the contract populated, right, in an automatic fashion. And that created a bunch of chaos for us,

Starting point is 00:24:29 right? We sent out that initial 300 offers. We had a crazy response because, mind you, when you send out email offers to an off market seller, maybe a response rate isn't so great, right? Because an off market seller is not obligated to respond. Maybe they don't stay on top of their email so well, quite different in the agent world, right? They have a fiduciary responsibility. Now, we all know there's different breeds of agents out there and how good they are at their job, but they have a much higher response rate. And once you start looking at that offer that you're sending out, and whether you're sending out 10 offers a day, 100,000, we have users across our system that are using that legacy product, right? It's still something that we monetize today and it works well

Starting point is 00:25:09 as a lead channel. But that chaos that came back at us, that's when we started to think, like, okay, all these agents are getting back to us and it's really hard to keep up with that. Now let's start tinkering with the prospecting, right? How do we start filtering through these things? So SMS and email started to go live, having more intelligence behind that. And then we kind of looked at each other on the leadership team. We were like, you know what? Let's take a bigger swing here.

Starting point is 00:25:31 Like what is the real pain in these rooms and what's the best weapon that we all have available? We all know it's still the phone call, right? I mean, face to face is great, but the phone call does the most damage. So that's what kind of led to where we're out today. And I think everyone listening to this and watching this really needs to understand what they would use it for, right? Like for me, building a business for scale versus building a business for profitability.

Starting point is 00:26:00 Right. And so to me, I love this as a tool for profitability versus trying to get like another two deals a month every month, like trying to grow to scale. Now, I'm not saying you can't do that for the right person. I like things to actually make the company and mean more money versus the argument of like, oh, this is going to help me scale so I don't have to hire people. It probably could. But I think the listener really needs to understand how are they looking to utilize it? Because it'll only do what you tell it to do, right?

Starting point is 00:26:30 And so I think that's a big takeaway that most people need to understand about, hey, Raf, you're any AI is what are you using it for? because I love it for agent outreach. I love it for nurturing and following up with the leads. But I do believe it could help people for the right person, the right leader, genuine leader and founder to go to scale. Yeah, I think this is one of those cases where you're only capped by your imagination, you know, truly, right? But it's also kind of a double-edged sword because your imagination can run wild.

Starting point is 00:27:04 If you're a solo entrepreneur or you're a smaller team, even larger teams like myself, you know, we face volatility too. What are those challenges ahead? Am I going to go try to conquer all 10 problems with AI or am I going to go pick the top problem, top three at most, and look to apply AI? Because you can get lost in the toy chest. There's so many different options that are out there. Like focus. What is your main issue today, whether that's your sales room, transaction coordination, your dispo room, understanding your numbers a little bit better, you know, all these different aspects of your business. Don't go gangbusters. Like take it one step at a time. And this is why, you know, I'm a big fan of

Starting point is 00:27:43 establishing quarterly rocks, right? And sitting down and really being true to yourself about pushing those big boulders that you're trying to move, but don't have 10 of them, right? Like have three of them, five at most. You normally land around three or four or a quarter. And some of those are, you know, AI initiatives, right? Of course. So that's, that would be my guidance to, people out there because shiny object syndrome has never been more real than during this, you know, AI boom. Yeah. It's, uh, so where can people kind of get a taste to Hey, Raffy and see it and touch it and feel it and understand more their unique scenario? Where can we, uh, have them go? Yeah. So Hey raffy.com is the best, uh, place to go. You can book a

Starting point is 00:28:29 demo. Um, we also have a link out. So you can actually do your own. little role play with Rafi, just in case you're one of those people who's maybe a little bit hesitant about, you know what, I like AI. I like the idea of implementing it into my business, but I'm not sure I want it talking to my leads. I spent a lot of money or maybe I spent a lot of time on those leads. And I get that. There's that whole school of people or that camp of people that are out there. But I would encourage people out there to be aggressive because the speed and the rapid rate of the way this world is evolved. I don't want to see people get left in a dust simply because they didn't care to start doing some level of tinkering.

Starting point is 00:29:10 So hey raffy.com, check us out. You know, we have some more information about all the things you heard me discuss today. But generally speaking, if you feel like your sales room is, you know, not cutting the mustard, they're not hitting their numbers. You feel like you can use a little bit extra oomph behind the scenes to keep your calendar booked with appointments and live transfers. isn't that something? Rafi does do. A book's appointments for you. It will live transfer people to you. So these are the things that we've seen. Tried and true. You will see your calls per contract. Plummit. These are one of the obvious things that you'll start to see when you start implementing this type of technology. You'll see your leads to contract ratio start to get stronger and stronger. And we're seeing all these leading indicators across not just my team at rise, but other users that are out there.

Starting point is 00:29:59 I also really like this. I refer to it as a fine wine pairing, but I really like this concept. And I think this is one of those things that people also have different schools of thought on, but PMAX leads or these leads that are just lower quality and are probably less than $50 per lead, right? You can get PMAX leads to $20 per lead.

Starting point is 00:30:19 But the problem with that is we have to come back to that physics problem. I dump a bunch of PMAX leads into my sales room. Like if I opened up my door right now and just yelled to my team, hey, I'm just going to dump PMAX leads on you guys for the rest of this week and that's all you get to play with. I would have a horde of zombies at my door and they would hate me for that. That's right.

Starting point is 00:30:36 Because they're used to Google search leads. They're used to a high quality Facebook lead, a direct mail lead. These are higher intent leads. But what you can do is pair a Rafi AI, you know, voice text email model with a PMAX lead stream. And now you can dump whatever it is, a thousand bucks, 10,000 bucks and just absolutely scattershot your market with these. with these PMAX leads, and you'll get a high volume of these leads that come in the door, but you'll have Raffy take the first pass at qualifying them and booking appointments and live transfers. Now, you can kind of firewall off the BS from your human team, but still reap the benefit of having,

Starting point is 00:31:15 you know, a more economical, virtual team member, you know, do all the heavy lifting for you of finding that needle in a haystack. And for reference, what's PMAX? Performance Max. So essentially, it's the ugly, red-headed stepchild of Glover. Google search leads. This is, you know, if you're in the Google search world, you know, most people will tell you for the last forever, Google search has kind of been the gold standard, right, of the highest

Starting point is 00:31:39 intent leads that you can find in your market, whether you're operating just in your backyard or you're one of these guys that's, you know, done the nationwide thing. I've done both PMAX. If a Google search lead is 300 bucks a lead, a PMAX lead is going to be about 25, but your ratios are going to be way different. Google search is, you know, maybe every 15 leads that comes. in, maybe 10 if you're doing real well, you're probably going to see a contract with PMAX. It's all over the board, which normally leads to some operational burnout with your team where

Starting point is 00:32:07 they're just like, you know what, I'm going to prejudge the shit out of these leads because I already know that it might be a bad number. It might be the wrong person. They might just be looking for, you know, evaluation on their property. That's fine. And I understand the burnout. I've lived it with my team. Yeah.

Starting point is 00:32:22 Yeah. And, I mean, there's a lot of avenues. I think anyone who has any interest in trying to figure this out, just get on the, the phone with hey raffy and raffy is rafi just for reference and help them understand what you're doing and what you're looking to do because to your point the the cheaper p max leads right um if you can get automation on that versus human you're gonna you're just going to have a better shot right it's much more the shotgun versus the rifle but i will take a hundred shots from full court distance across versus two shots and i almost guarantee you i'll make more than two uh because i just have

Starting point is 00:32:58 volume and that's the idea. And I also want to be clear that that is you know the fine wine pairing I mentioned isn't necessarily it's definitely not the only way as a matter of fact most people that jump into the system what they start with is taking a lot of their long term follow-up leads right. So maybe they have a thousand leads maybe 10,000 leads in their long-term follow-up bucket and this is where that physics problem rolls back around. They feel really good about their human team and you know how they are going about working through their playbook but they are still seeing no matter how hard they're peddling, they're not getting deep enough into their pipeline. They might be hitting their first 30-day discovery leads very nicely as one typically would, right?

Starting point is 00:33:37 Those are shinier objects. People love hitting those leads because there's a little bit of a higher pickup rate. But that stuff that's six months out, 12 months out in your system, we all know, right? The fortune is in the follow-up, but really tough to get the amount of touches you would like to get, even when you're using a power dialer, right? And this problem scales. Whether you're a one person, five-person, 15 person team, every team we talk to you and we've spoken to some people who have, you know, 50,000, 100,000 leads in their system, they're still having trouble with their team getting deep into the pipeline. Yeah.

Starting point is 00:34:07 So hand over your long term follow up leads and just watch what happens. From there, you'll build more confidence to the point where I'm at where I will say, hey, even if it's a Google search lead, I'm only going to give it seven days, maybe 14 days tops before I let Rafi take a crack at it. And it's not like it's exclusive, right? as soon as we hand things to Rafi to follow up with, it's a virtual team member. It is not, hey, the rest of my team needs to buzz off now. We can all do some pack hunting together.

Starting point is 00:34:34 And we just happen to have one of those wolves that's pack hunting with us is an AI wolf. Right. This is awesome. Well, Bill Beck, Grizzly veteran in the real estate space. And he is just letting everyone know AI is here and there's great resources. So, hey, raffy.com. This is Bill Beck. Go follow him.

Starting point is 00:34:52 He's a great human, really intelligent, very successful. what he does and everyone should be looking into hey raffia at this point so uh thank you very much for spending some time with us um i am justin colby this is the more show and if this actually could help someone you know share it at least two of your friends appreciate it peace

The Science of Flipping - Your AI Agent Strategy Is Costing You Money | Bill Beck

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.