Today, Rob Caldwell talks to us about how many deals are made when you follow-up with sellers after making an offer. HomeVestors® provides follow up systems to help you be there when the seller is ready to sell.
Mike: Welcome to the We Buy Ugly Houses Show, where real investor’s share real investing stories and lesson from the trenches, where our team buys thousands of investment properties each year. Now, let’s meet today’s host.
Rob: Welcome to the We Buy Ugly Houses Real Estate Investment Show. My name is Rob Coldwell. I’m a Real Estate investor. I live in Ashville, North Carolina.
On today’s show, I want to talk with you about consistent follow-up and why it is critical to the success of your business. This is after you have attended the appointment, you made the offer and the seller needs to think about it or the offer just didn’t make sense for them at that time. Now, you have an open folder and you’ve made an offer on the house you want to buy. The reason follow-up is so critical is because we buy more houses on the follow-up than we do on the initial appointment. So, follow-up is crucial and you cannot do enough of it. Follow-up will increase the number of houses you buy.
Let me give you an example. Right now is our slow time of the year. We’re coming out of the winter months. The phones are not ringing as much. Therefore, the appointments are really low. We knew that was coming. It happens every year. We’ve got data and metrics that tell us that what the high points and low points are but, that’s another subject.
I have been coaching the people I work with to go back and make follow-up on some old appointments. Go back a year or more. Here’s what happened. Last Saturday evening, I was in my car with my girlfriend. We were headed out for dinner when my phone rings. I’ve got my phone in one of those holders that attaches to the windshield. We both can see who it is and it’s a work-related caller. She just looks at me. Gives me one of those looks and I said, “Honey, this guy does not usually call me unless it’s something important.”
So, I answered the phone and he immediately says, “Rob, I know it’s Saturday night, but I just had to call you to tell you a great story. I’ve been doing a lot of follow-up like you’ve told me to do and as a result, I just bought a house. Here’s the best part, Rob, this follow-up was from my very first appointment I ever attended over a year and a half ago.” I told him how incredible that was. We tell HomeVestors people that we coach that the first 90 days that they are in business, they’re probably not going to buy a house. Why? Because, the vast majority of the houses we buy, we buy on the follow-up.
One more thing about follow-up. Follow-up also allows you to look at your business like a consult would. You might learn something necessary to improve your business by doing some follow-up. You can get feedback or hear something from the seller that you might have missed. Maybe they have more questions or maybe they didn’t understand something. Ideally, your follow-up should be within 48 hours of your initial appointment. Make sure you do it. Otherwise, the seller might call someone else.
Mike: Are you looking to get started in real estate investing or take your investing business to the next level? HomeVestors, the We Buy Ugly Houses folks, is the number one home buyer in America where our franchisees purchase thousands of houses each year, many of which started from little to no experience. If you’d like to chat, please visit UglyOpportunities.com/contact
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