Pleasant Persistence Breaks Down Resistance
From Tom Nardone, Millionaire Mailman …
Back in January of 2015, I dropped a simple mailing of postcard 10A in the Clever Marketing Center and had Go Big Printing mail it out. I only mailed about 1,900 postcards to an absentee owner’s list that I bought from ListAbility.
I got a pretty good response rate, which was about 75 calls. About 20 of the sellers from the postcards left voice mail messages. The rest were hang-ups.
But I had not even one seller who wanted me to run out to the house and sign a contract at that moment to get the deal tied up!
However, I meticulously entered each lead into Podio and tracked ALL the calls. Even the hang ups.
And then I took the low-hanging fruit… in other words, I called back all the sellers who left a message. Right away, I called back any seller who either mentioned the reason they were selling the house or mentioned a deadline they had to sell by.
I gave all the hang-up calls to the Realtor on my power team to call. This Realtor will call each number every day until someone answers the phone so they can have a conversation, and then determine if there is any motivation to sell.
The deal from that mailing came with a big scoop of persistence and patience…
One caller had left a message - he was a burnt out landlord. He explained that the tenant was slow in paying, and they had a small mortgage of about 50K and the house is worth 90K.
I went out and met the seller at the house, which was just about 5 miles from my office. The seller explained that the tenant had just paid up in full, so the pressure was off to sell for the moment.
When I met with the seller I realized she was the same age as myself, so I did my best to have a conversation with her and establish rapport and make friends with her.
I made her an offer for 90K and she said she had to think about it.
A few months went by, but I called her back every 30 days, just to let her know I was thinking about her deal and checking in with her.
After 4 months of me calling her, each call resulted in the seller placing her trust and confidence in me that I could buy her house. So, after 4 months and about 4 conversations, the seller was finally ready to sell because the tenant had stopped paying a second time and now the seller had to evict.
I gave the seller the name of my eviction attorney, and once the tenant was removed, I wound up buying that house for 90K and quickly wholesaled it for 115K.
More persistence paying off…
Another seller purchase I made from that same mailing was a vacant house – the mom died and left the house to the 2 adult children.
The lead was one of the hang-up calls that my Realtor had called back. I have the Realtor call the hang-ups thinking she may be able to convert the lead into a retail listing, and then when she sells it, she throws me part of the commission to help pay my marketing costs since I sent her the lead in the first place.
The 2 adult children could not get together on the price of the house. The house was free and clear and worth about 150K. I offered them 80K for it. I left them a signed contract, but I could not get their commitment to sign it and send it back to me.
After I called them consistently every 2 months to check in with them, I finally had a contract 10 months later, for 90K, and the house had gone up 20K in value in the last 10 months since my initial contact with the seller.
Remember this when working your leads…
The money is in the follow-up!
Track ALL your leads in Podio and call the sellers until they give you a contract or ask you to stop calling them!
Enjoy the Journey!
Has persistence paid off for you?
Tell me your story in the comments section below.