Can technology KILL your business?<\/p>\n
I know, I know\u2026it sounds dramatic and a bit like overkill, but the truth is, the answer to that question isn\u2019t as simple as you might think.<\/p>\n
With motivated seller data available to us as investors now more than ever and seemingly cool technology, productivity tools and apps around every corner promising to \u201cscale & automate\u201d your business, the question we need to be asking is\u2026at what cost?<\/p>\n
The ways in which businesses reach consumers has changed drastically over the years.<\/p>\n
We\u2019ve gone from mass marketing with newspaper ads, fliers, billboards and radio ads to mass-targeting with Facebook and Google ads, email marketing, autodialers and so on.<\/p>\n
But, there is one form of \u201cnew school\u201d marketing that seems to bring up the question\u2026\u201cIs this legal or not?\u201d <\/em>more than any other.<\/p>\n And that is text messaging and\/or using robo-dialers<\/strong> to contact leads...or in our case as a real estate investors..text messaging and robo-dialing your seller or buyer leads.<\/p>\n \u2026and there are 3 big questions that need to be discussed.<\/p>\n There are many differing opinions on this topic and that\u2019s why it can seem to be so difficult to find the right answer. <\/p>\n From the research I\u2019ve done, the answer is quite clear: <\/p>\n Texting or robo-dialing your leads (especially mass texting) can be <\/em>detrimental if not down right DEADLY to your business<\/em><\/strong>!<\/em><\/p>\n Listen, I\u2019m not delusional, I know that the idea of sending out a text blast to hundreds or thousands of potential sellers sounds like an \u201ceasy button\u201d strategy, but be warned\u2026relying too much on easy button technology in a business where developing a personal relationship is KEY, can be costly\u2026If not deadly.<\/p>\n Let\u2019s take a look at some of the finer points\u2026<\/p>\n According to the United States Telephone Consumer Protection Act (better known as the TCPA), all businesses and organizations must receive written consent<\/strong> from the consumer before sending text messages, even if there is already an established relationship between the business and the consumer.<\/p>\n Not only that, but there are a few other rules to know\u2026<\/p>\n Failure to abide by these rules can lead to major penalties (in fact, you could be charged anywhere from $500 to $1,500 per text message<\/em><\/strong> that did not have prior written consent!)<\/p>\n I don\u2019t know about you, but that sounds pretty risky to me! <\/p>\n As far as the laws and penalties on robo-dialing, at the moment they are in a state of flux, but we know that people are SO tired of it. Congress is addressing it and that\u2019s not good. I expect a federal law with very stiff penalties to be hitting the books in the not too distant future. So, if it isn\u2019t at the moment, it\u2019s very soon to be a \u201cdo not touch\u201d in my book.<\/p>\n However, if you ARE going to reach out to your seller leads this way, you need to ensure that you have prior written consent from the seller and be certain to abide by the above rules\u2026but, in all reality, what's the likelihood of you ever having a problem? Sure, getting nailed would require you to \u201ctick off the wrong skunk\u201d but it can definitely happen and let\u2019s face it, the more you send, the greater your exposure.<\/p>\n No matter if you\u2019re following the rules or not, it is my personal recommendation that you DO NOT text blast or \u201crobo dial\u201d your seller leads anyway.<\/p>\n To me, this is just not an ideal way to reach out to someone about buying their house.<\/p>\n 1. Would you trust a random text message<\/strong> from an unknown number asking to purchase your home out of the blue? I know I wouldn\u2019t and I can almost guarantee that any seller wouldn\u2019t either.<\/p>\n 2. Can you tell when you\u2019re getting a robo-call?<\/strong> Of course you can! Do you like it? Do you give the caller anything close to what they want or (more likely) do you give them a solid piece of your mind...if you answer at all? Are you sick and tired of robo-calls like I am? Enough said.<\/p>\n 3. By using the \u201cautomated technology\u201d to \u201cmake your life easier\u201d, you\u2019re inadvertently burning through all of your seller leads<\/strong> and leaving MANY potential deals on the table.<\/p>\n The truth is, there is a finite number of seller leads in your market(s) and if you load those contacts into an auto-dialer or text-blast software and rip through all of them in a matter of a few hours or days\u2026you\u2019re going to get a few responses\u2026but the real gold is still sitting in the list that you\u2019re now calling \u201cdead\u201d or \u201calready contacted\u201d.<\/p>\n PRO TIP:<\/em><\/strong> The game we\u2019re playing as investors isn\u2019t \u201chow many leads can I dial in an hour\u201d\u2026don\u2019t let anyone selling text-blasting or auto-dialing tools, or Real Estate Training for that matter, fool you. <<-- This is a mistake most people make.<\/em><\/p>\n If you want to build a long-term, profitable and sustainable business, the game you need to be playing is, \u201chow can I help the seller solve their problem and create a trusting relationship with them\u201d. Always remember, like any other business, Real Estate Investing is a relationship business and when your focus is on how you help or serve the seller, you will do deals others simply will not. <\/p>\n In fact, let\u2019s talk about what you could\/should<\/em> do to reach out to your leads...<\/p>\n By now, I\u2019m sure you\u2019re thinking, \u201cIf texting or auto-dialing isn\u2019t a good option, then how should I reach out to my seller leads?\u201d<\/em><\/p>\n Don\u2019t worry, I\u2019ve got you covered.<\/p>\n First of all, you want to be sure that you have a consistent and reliable source of motivated seller leads to reach out to. I, myself use the Motivated Seller Data Feed [which you can learn more about here<\/a>] or the Vacant House Data Feed that you can try here.<\/a><\/p>\n Once you have your list of potential prospects, here are a few great and effective ways to reach sellers that will help you steer clear of hot water and close more deals.<\/p>\n **Keep in mind, there will always be times when a property owner is simply not interested in selling and may or may not have a nice way of showing it. Trust me, I\u2019ve had a few hangups myself by cold calling sellers, but you simply have to shake it off and move on to the next lead.<\/em><\/p>\n<\/li>\n In fact, I even wrote an entire blog about direct mail and how to utilize it to inject more profits in your business fast. Click here to check it out!<\/a><\/p>\n **Direct mail is great for those who despise cold calling.<\/em><\/p>\n<\/li>\n I am a big proponent of using well-trained and seasoned virtual assistants to help grow your business. Click here to learn about the system I\u2019ve set up that gives you EVERYTHING you need to start doing more deals, including some virtual assistance!<\/p>\n If you have a V.A. do your cold calling, the benefit is that YOU only speak to those that are interested in selling. So, they deal with the hangups. If you do this, be sure your V.A. is on your \u201cpage\u201d. The idea here is for the V.A. to be kind and in search of a simple answer to the question\u2026\u201cwould you be interested in selling?\u201d. We talk a lot about this at the 3-day Rapid Results Investor Summit. You can learn more about that here.<\/a><\/p>\n You might argue that both a V.A. and a robo-dialer are an ideal 1,2 punch because the V.A. only talks to people that answer and saves the time (your money) that would be wasted on busy, disconnected numbers and voicemails. There\u2019s truth to this, but a seller can spot a robo-call a mile off and there are substantial consequences in the making. And make no mistake about it, voicemail is where the V.A. + robo dialer combo really falls short in terms of effectiveness.\u00a0<\/p>\n The robo dialer can only leave a generic message on the seller\u2019s voicemail, where you or your V.A. can leave a very specific message that mentions the seller\u2019s name, the address of the property, etc. This is MUCH more personal and a much better way to start a relationship. Plus, since we are now trained to recognize robo-calls and, in general, do NOT answer our phones when we don't recognize the caller ID, we\u2019re going to have to leave a ton of voicemails. Without question, a specific, personalized message is much more effective.<\/li>\n<\/ol>\n Now of course, there are rules and regulations for all of these methods, but they certainly aren\u2019t as restrictive or potentially damaging as mass-text messaging or robo-dialing.<\/p>\n I suggest you read up on all regulations before starting any of these options. It\u2019s simply good practice and will allow you to reach out to customers with less worry and hassle.<\/p>\n Please leave a comment with your thoughts. I love hearing your opinions\/stories and I personally respond to any and all comments!<\/p>\n Regards,<\/p>\n Cameron Dunlap<\/p>\n <\/p>\n Sources:<\/strong><\/p>\n Kinkade, R. (2018, August 1). Is Mass Texting Illegal? Retrieved July 7, 2019, from https:\/\/www.call-em-all.com\/blog\/is-mass-texting-illegal.<\/p>","protected":false},"excerpt":{"rendered":" There has been much controversy as to whether you should incorporate mass-texting or even robo-dialing into your investing business. Find out here if this technology is right for you!<\/p>\n\n
What the Law Says About Mass Texting For Business...<\/strong><\/h2>\n
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Robo-dialing is a hot topic in Congress!<\/strong><\/h2>\n
Sure, Sending a Mass Text Sounds Easy\u2026<\/strong><\/h2>\n
Think About This\u2026<\/strong><\/h2>\n
More Effective Options\u2026<\/strong><\/h2>\n
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What Do You Think?<\/strong><\/h2>\n