Whether you’re brand new to the real estate realm or you’re trying to kick your long-standing business up a notch, there is one key thing that you need to focus on—prospecting. The world of real estate is all about making connections and developing relationships, and prospecting is the best way to get the ball rolling.
The Pains of Prospecting
The most efficient way to initially prospect is by phone. Unfortunately, cold-calling can be an extremely tedious and time-consuming task. You have to hunt through your list, pull up a lead, punch in the number, wait for someone to answer—if it’s even still a good number—and then wait to leave a voicemail that you’ve already recited 100 times today. Lather, rinse, repeat.
Let’s reflect on just exactly how tedious this process can be by taking a look at the five most annoying time-wasters when prospect calling:
1. Fat-fingering the wrong number
Nothing’s more frustrating than punching in the number incorrectly three times in a row. The most time consuming part is that you insist on giving the phone an accusatory glare after each misdial. It has betrayed you, after all.
2. Leaving a voicemail
Have you ever said something over and over so many times that the words lost their meaning? An extra 30 seconds per phone call eats up your time, and those robotic-sounding voicemails aren’t doing your sales any favors.
3. Fax lines
There’s nothing worse than the screeching connection tone blaring through your headset when you’ve dialed a fax line. Who even has a fax line anymore?!
4. Disconnected numbers
It’s safe to assume that the prospect is no longer viable once the number has been changed. It’s good to know so you don’t call it again, but does the lady have to be so smug? “We’re sorry, the number you are trying to reach….”
5. Opening lead information
Wait, who am I calling next? Which one did I just call? Maybe I should take a break…
So, what do you do when the single most important thing is also the single most annoying? The answer: cut out the annoying part by getting a dialer.
Why You Need A Dialer
Realtors® who make $250K or more a year are 94% more likely than the average agent to use a dialer in their business. They know that dialers drastically increase the return on the time and money they invest into prospecting. Prospecting in real estate is all about numbers.
The more people you contact, the more you increase your chances of finding quality leads that result in signed contracts. When you increase your prospecting power, you increase your income.
Let me introduce you to Rocky Wright, one of the top Florida agents and single-father of two. His perspective will help you understand the crucial role a dialer plays in his success.
In order to provide for his daughters, Wright became a full-time real estate agent in 2001. The challenge of generating predictable income is what led Rocky to seek out REDX.
“The results [of using REDX] were nothing less than extraordinary as far as I’m concerned,” Wright said. “When I started utilizing REDX, in the very first two days I set 2 or 3 listing appointments; I took a listing within the first 7 days.”
With the release of our most recent product, Storm Dialer®, a unique real estate dialer, finding success in the real estate is easier than ever. Storm Dialer works as an integrated feature of Vortex®, our cloud-based lead management system.
Adding a dialer to the prospecting platform increases the connection between a realtor’s investment in prospecting strategic leads and successful results. These increased connections mean increased rewards for Wright (more listings) and his two daughters.
“I’ll take them out to eat if I have a listing appointment, and I’ll take them on a date night, dinner and a movie, if I have a closing,” said Wright, laughing. “As soon as I walk in the door my daughters are asking me, ‘Hey, Dad, did you set a listing appointment today?’ or, ‘Hey Dad, did you have a closing today?’ And I can only tell them ‘no’ so many times.”
Fortunately, Wright averages about a listing a week from REDX, and his daughters enjoy plenty of date nights with him. When looking at his success overall, Wright believes that approximately 80-90% of all of his business is specifically linked to REDX.
Wright’s success relies on his utilization of Vortex with the Storm Dialer to improve his prospecting strategy. When using Vortex, Wright is able to collect the same information in two or three minutes that it used to take him almost two hours to research and organize. The dialer then allows Wright to connect to more of the leads in less time. The significance of this saved time is not lost on Wright, who has to compress an 8-10 hour day into 5 or 6 hours in order to be able to pick up his girls from school on time.
“Saving time enables me to spend more time with my daughters and do more of the things that I love to do—going to the beach, hanging out with my family, having barbecues,” said Wright. “Without REDX, I don’t know if I’d be able to hit the amount of transactions I need to hit to be able to afford the lifestyle [my daughters] deserve.”
What Exactly is the Storm Dialer?
We know how valuable your prospecting time is and we are committed to helping you get the most out of the time you have. That’s why we created the Storm Dialer, a dialing platform that skips the bad numbers, filters DNC numbers, leaves your voicemails and utilizes your time only for actually contacting the prime leads that are worth your time, giving you more connections per hour with your leads.
Sound simple enough? It gets better. The Storm Dialer connects to your Vortex account to start dialing within your prospect list at the click of a button. While the Dialer is generating calls, it pulls up the right lead information so you don’t waste any time trying to figure out who you’re speaking to.
How Does Storm Help with Increasing Connections?
While increasing the ROI on your time, the Storm Dialer also leverages a stat-tracking feature called Pulse™. Here’s how it works: while prospecting, you can disposition each lead by assigning them an outcome—Interested, Callback, Wrong Number, etc. Pulse will then track your numbers and generate statistics about how long you’ve been prospecting, how many calls you’ve made and how many messages you’ve left.
Tracking your numbers gives you visibility on when you are most effective and where you find the most success. In turn, you also learn how to get more listings and ultimately sell more homes. Adding Storm and Pulse to Vortex allows you to effortlessly accumulate this data without human error.
*REDX maintains the position that all agents should be compliant with state and federal telecom laws. Learn more here.