Zach answers real estate professionals' questions on finding serious investors and generating leads. He breaks down a compensation model where agents earn only for new leads, recommends tools like My Plus Leads ($70-$150/month) and PropStream ($0.14 per skip-trace), and suggests virtual assistants for calling expired listings and direct mail when budgets are tight.
Chapters
Kevin.
Hey, how you doing?
What's up?
Quick question for you. You had mentioned real estate investor meetings, which are a terrific source, but could you give some insight as to how to take out your nonsense knife to find out who you should be dealing with? Because generally speaking, you walk in, what I found, it's a third, a third, and a third. A third of the people never got anything done or getting started and very pumped. A third have never gotten anything done, period. And a third are the ones who are actually making things happen. How do you pick them out of a crowd?
Well, I would usually ask who, when I get there, is like, who here is doing deals? I mean, I'm that open, right? Because you have to, you got to figure out the separation. So I would ask, so who's here doing deals? So I'd usually go to whoever runs it. And I would be like, okay, hey, I'm interested in buying real estate. This is what I do. This is what I specialize in. Who's here that's doing deals? Who should I know and who should I connect with? That's where I'd usually start. So whether it's a networking group like for real estate, or if you ever enter into a mastermind group in general, go to the head person and say, who are your— you know, who's the best performers? Who's the one that's doing the most? Who should I know? I'm trying to really get after this. Who should I know? And then you'll be able to get a good temp check once you interview like the top three people. Look who it is, Miss Wendy Kaufman. How are you?
Hi, Zach. I'm doing well. How are you? I have a quick question about field agents. So you were saying that if they bring you or when they bring you a lead that's not currently in your system, then you pay them. So. I guess my question is, okay, obviously I get expireds and for sale by owners right now from myplusleads.com. So if I was to implement the field agent, if I were to get somebody to bring me deals, and if they bring me a house that's already in my system, then I don't pay that person? Was that what you're saying?
Yeah, that's exactly what I'm saying.
Okay.
But you gotta be upfront with them. The idea is that you gotta be upfront with them and you say, this is how it works. If you send me a lead that's not in my system, because I always say, look, I have a, I have a couple people, it's first come, first serve, right? And if you send me a lead that's already in my system, then I can't pay for it. So, but what's important is you gotta be open and honest and truthful too. Like if somebody sends me a lead, I'm like, this was entered into my database on this date.
Okay, got it. Thank you.
Very good. Yeah, I just threw in the chat, uh, the bundle that we're promoting right now going into 2024. So feel free to take advantage of that if you don't have QLS. And then also, if you haven't spoke with our team, um, I'll put the link in the chat too. Feel free to message us, uh, Smartrealestatecoach.com/action. What other questions you guys have when it comes to lead gen? Any additional questions? Some of this is what we talk about every day, and some of this was maybe a little bit, a little bit more specific to some of the things I'm doing right now that I'm in test mode. Go ahead, Steve. Hey, Zach. So phone calls are the best thing. We know that. What would you say is second best? Besides phone calls?
Yeah.
Well, it'd be like phone calls. So let me say this. It depends on your budget too, right? Like, what I've always learned is, right, is if you have money, you have money in order— so you spend money in order to make it less time, right? But if you have time, And you don't have money, then you got to use your time. So if it's like— so if I had money, I would more likely be doing— I'd be hiring virtual assistants to call on my expired canceled, withdrawn, for sale by owners. And I'd also be doing direct mail campaigns that would be answered for my VAs. And also, I would then be— and then next step, I would then be networking with groups in order to send people Um, send people or have people like promise, uh, commissions and wholesale, um, wholesale commissions, right? I'd be promising them if they brought me deals. So you bring me a good deal, I'll give you $5,000, right? Okay, I got money. If you— because you want people to bring you deals. If you don't have money, then you've got to go get the deals. And then as your business evolves You build out a team that gets you deals, and then you move up into your the overseeing the portfolio.
Right?
Okay.
If I had limited money, I would just I would be letting everybody know that they can get paid in order to bring me deals from VAs to realtors to wholesalers. Let everyone know. And if I didn't, then I'd be going dials, networking groups. Um, Lawrence is asking about pay-per-click. I don't have enough experience in that. I'm sure that there's some success there, as there's plenty of that scenario. I just, I haven't experimented with it yet, to be honest with you, Larry. Once I do, then I'll speak more on it, but I'm never going to tell anybody to do something I don't do. Nicole.
Thanks, Zach. So for My Plus Leads, what is probably about the total cost per month one would incur to, like you said, make those dials and calls? And I didn't know that it does give you the phone numbers, huh? So you don't have to skip trace, which I know Like you said, other companies pay per phone number or something like that, correct?
Yeah, exactly. Yeah, like skip tracing. So I think right now I spend like $150 a month, but that includes the Power Dialer. I think if you're just doing expireds and you're making your own dial, like you're not using the Power Dialer, then I think it's under $70. That's my guess. Does that sound accurate, everyone that's using it? Uh, Tommy?
Hey, Zach, how you doing?
I am fantastic. How are you?
Good, good. I have a situation where I do get leads, but all I get is the name and addresses. And if I use a system like what you're talking about with MyLead, uh, My Plus Leads, or PropStream, Yeah. Is it possible I could say like I got 500 names and they could give me the, uh, they could help me skip trace some names?
Well, PropStream will skip trace. You can upload your lists and put them in PropStream and they'll skip trace. I think it's like 14 cents per name. Yeah.
Okay. What about, uh, my Plus Leads?
No, they don't do skip tracing. They just pull data and they give it to you so you don't have to skip trace.
All right. Thank you.
Awesome.
Awesome, everyone. I did throw in the chat if you guys have any additional questions about how to work with us, how we're doing deals with everyone, go ahead and utilize the strategy call, smartrealestatecoach.com/action. Those of you that aren't in QLS, which is a fantastic way to get started, I got a promo code in there for you. Go ahead and take advantage of that. I know I ran over today. We're 10 minutes over, but it was a pleasure. I want to see each and every one of you be extremely successful here. Uh, let us know how we can help, and have a fantastic rest of your day. And all the associates, enjoy the mastermind coming up.
