Day #35 of 100 Days of Prospecting
I only ran the one dialer today. Reason? Because I was importing new lists for new areas. This takes longer than you’d think it would. I mean, we’re calling the entire city, so just draw a circle around the whole thing on the map and import the entire thing at once, right?
Whether you use Cole or Mojo Lead Store data they only let you import so many people at one time. So if you want to do something common sense like, say, chop a city into four pieces and create one list for each quadrant…you can’t do that. You have to import smaller pieces and then combine them into a single list. That’s fun. I guess I could just have my assistant do that. Oh yeah…I don’t have an assistant.
Anyway, I imported a bunch of contacts from Royal Oak then started CALLING Royal Oak while importing the rest of the city. I can do stuff like that all at the same time when running one Mojo dialer. I can NOT do stuff like that while running TWO Mojo dialers. So just one Mojo dialer today.
Day #34 of 100 Days of Prospecting
It’s late. I’m still writing this. But I’m not pontificating at all.
Numbers were down. Mojo was acting up again today. Take a look at this:
You see how the report says “Line Error”?? That means that Mojo was ghosting calls. Your headset beeps so you know someone is suppose to be on the other end of the line but….nothing. That always happens now and then…but when it happens over and over – you know something is up.
I don’t call when it does this anymore. Back in the day it was clicking through them like a machine gun. Not even dialing. You’d just see it flashing through numbers faster than you could even read the names. Click-click-click-click-click-click.
So once I got my second lead for the day…I wrapped it up.
Day #33 of 100 Days of Prospecting
So today was dominated with a closing. It was a long time a-commin’ too. As you can see from the image below, this seller a year and a half ago in July of 2014. You can see all the follow up that I did. Listing contract was signed a year later in July of 2015. Got it under contract and the deal died. Died after the buyer green-lighted the inspection, after the appraisal came in fine, and after she got the clear to close. Just walked away on closing day at the tail end of September.
Can you say nightmare?
This particular seller was so upset by that whole thing that it took me a full month to get her back in the saddle and bringing buyers through to look at the house. When it DID go under contract, she didn’t trust the buyers because of what happened previously and skeptically maintained the belief that the deal would die again all the way until the title company handed her the check at closing. Only then did she believe the deal was going to happen. I’m not just saying that either. That’s what she told me.
Anyway, you can see that it took over 26 follow up touches from the initial contact to the point where the listing was signed. This proves what I keep saying over and over here.
ALL the money is in the follow up.
Not some of it. ALL of it. It’s so rare to find someone ready to go when making a front end cold call through a neighborhood that you should never believe that it’s ever going to happen. When it DOES happen, you should look at it as if you’d just won the lottery and not expect it to happen ever again. Maintain this view and you’ll give follow up the proper focus it deserves and you’ll squeeze all the money you can out of the leads you get from your cold calls.
The entire days was dominated with this closing, but I did make the MOST important calls. The follow up calls. One previous lead has no longer decided to sell so he goes back into standard calling rotation. The others didn’t answer. There are about 15 follow up calls on the docket for tomorrow and I’m going to make 200 front-end cold call contacts.
Day #32 of 100 Days of Prospecting
I think I’ve figured out what’s going on. Take a look at these two images below:
The spreadsheet above represents calling early in the day. Before 9am. During the golden hours. Pickup rate is always higher in the golden hours and today it checked in at 19.4% for Prime Lists, 15.6% for raw, and 17.2% combined. This still isn’t great since I’ve called Prime lists in the early morning and seen contact rates over FORTY percent. If you’ve been following along then you know that 30% contact rates for the entire DAY are not unheard of. So less than 20% contact rate during the best hour of the morning isn’t anything to write home to mom about. Don’t worry though. It gets worse….
So at 9:00am the contact rate stood at 17.2% but then, as we see above, it collapsed down to 9.8%. Less than 10%. Terrible.
Notice as well that the RAW lists being called on Dialer #2 saw HIGHER contact rates (10.0%) than Dialer #1.
What’s Going On?
Here is what I think is happening.
1) No Phone Dodging – when I first started calling Prime Lists at the beginning of this month, they were chock full of people I’d not spoken with for six months or more. They were not trying to dodge my phone call in any way. So keep that in the back of your mind.
2) The Hangup Effect – when I get someone on the phone I say, “Hi, this is Brian Kurtz with RE/MAX real estate…” and then I pause. This gives them time to process that they are speaking with a real estate agent about a real estate related matter. When they cough out a confused “Yeah?” I move on to the rest of the script. BUT…if they hang up right then and there at the pause, then I still count them as a contact. After all…it can be assumed they knew that I was an agent and that they knew they were going to be talking about real estate and they said, “No I”m not interested in real estate stuff today at all” very clearly by….hanging up the phone. So they count as a contact. And they get added to the Prime lists to be called months later.
Now when I stared calling this month in earnest there were about 1,600 people in the Canton Prime list all by itself. Now there are a bit over 700. I’ve called through that list top-to-bottom five times now total. I rotate my caller IDs so that they don’t show up to any particular person for at least 10 days.
So why the low pickup rate?
Well, the 700 people left in the Canton Prime Lists have a very concentrated of non-responsive people. Maybe I first spoke with them on a weekend. A weekend call got them moved over to the Prime List side of the house. But they will NEVER answer again unless it happens to be a weekend, they happen to be home when I call, and are in the same frame of mind to answer that they were when we spoke the first time. If any of those are off – no pickup. So there’s probably plenty of those people.
But there’s also the hangup people mentioned before. Maybe they’re not “hanging up” on people anymore. Maybe they’ve moved past that and are just not picking up at all. That could be the case.
When calling early in the morning I’m contacting the few “highly responsive people” left in those Prime Lists that I just have not contacted this month. The bulk of the 700 people that are left are going to be bad responders and I can pretty much expect to see more of the same until the calendar turns over and we move February’s Prime List people that are stuck in a holding pattern into the main Prime calling groups for each city I’m prospecting in.
This weekend though I’m going to be importing entire new cities. So I’ll be switching to calling raw lists ONLY for the foreseeable future. I might not get around to calling Prime Lists again until April. With the current performance though…I’m looking forward to making first-pass call throughs on raw lists.
Day #31 of 100 Days of Prospecting
There’s not a lot to talk about today. I ended up only making my most important calls today. The follow up calls. But I did make those, didn’t I?
I’m almost at 20,000 dials for this month. The 3,400 contacts I’ve made just in the past 31 days amounts to about 40% of the ENTIRE group of contacts I made from July to December of 2014. I wasn’t even running a second dialer for the first half of the month either, so I expect to see the number of contacts go WAY up in February. Even though it’ll be a short month.
The Bird’s Eye View
So far, in the month of July I’ve connected with 31 leads. There are 5 calling days left in the month so I’m hoping to put another 5 or 6 into the hopper. Next month there’s a good possibility that I’ll uncover 60+ leads. Actually, it’s a really good possibility because I’m going to be importing new numbers and calling raw lists. So fresh people that I’ve never spoken with before. And spring is right around the corner.
I’d love to put more listing appointments up on the board…but it’s a process – not an event. Appointments are almost universally set on follow up calls and you have to have leads in the pipeline to follow up WITH if you’re going to be making those appointment setting follow up calls.
Bottom Line: if I’d been calling in September and October I’d be setting a lot more listing appointments than I am.