Max Maxwell is the prototypical REIRail user—a hard-working investor who relies on the software to streamline his processes and realize explosive revenue. The efficiency gains our call tracking software offers are attractive to many REI professionals because our solution reduces the time necessary to research properties and people, removes the need to juggle various siloed software applications, and delivers the best information needed to make connections with potential sellers. Sound too good to be true? Well, it’s not.
After using REI Rail call tracking software for a while, Max discovered something funky in the data: The number of calls he had per day had actually decreased! On the surface, Max’s numbers might seem counter-intuitive. REI software is supposed to save time, but not cut into call volume. So why did this happen? Did we screw up, or was Max not using our solution to its full potential?
Neither. The correct answer isn’t so surprising—if anything, it proves how good REI software turns pesky negatives into big-ass positives with every phone call you make.
Longer, but More Productive, Calls
Max’s numbers showing the decrease in number of calls were accumulated from nearly nine months of data. Confounded by the result, he investigated further. What he learned proved that although the quantity of calls went down, the number of minutes on calls he did have went up—and the quality of his time showed a marked improvement. I asked Max about his numbers. Here's what he had to say, "I know any call over nine minutes is a hot lead without even listening to it." He elaborated further, and shared that his process when reviewing his call team's activity, is to sort calls by duration and look for those in the sweet spot, 8 to 12 minutes (another bizarre trend happens on 1st calls that go too long. More on that in another post). But here's the golden nugget from his analysis of the data: those sweet spot calls had jumped by more than 20% since giving his team access to REIRail.
Follow the bouncing ball on how this happened:
With kick-ass call tracking software, Max and his team had more data to better make a quick connection with new contacts. They weren’t stumbling with introductory and/or exploratory questions—Max and his cohorts already knew everything about the person on the other end of the line thanks to the Deep Trace feature.
Having established this better connection, Max and company could keep a prospect on the phone longer. Instead of sounding like telemarketers or robots, they engaged in real conversation with potential sellers.
Therefore, prospects, realizing that Max and his team are legit and sincere, actually took the time to listen and negotiate!
In other words, prospects weren’t hanging up and screaming to never call again, but were engaging Max and his team. That led to fewer “junk” calls and more time on the phone with quality prospects, which is why Max’s data showed the unexpected decrease. In this way, the decrease in number of calls isn’t bizarre, but rather, a sign the call tracking software is working as intended. Like most other businesses, it’s all about the relationships!
Why the Trend?
Though we wouldn’t classify all property owners as chatty, the trend we’ve seen is that with prospects, once you’ve made a decent connection with them, they’re more likely to hear you out. Once they do, they might be more willing to negotiate. And seriously, they should be pumped about possibly selling and realizing a tidy profit. Real estate prices continue to rise, and prospects are feeling emboldened to not just consider selling, but also to ask for a higher price.
You know what? This trend is a good thing! If prospective sellers are comfortable with you and believe you have their best interests at heart, they’ll stay in the conversation. If they think they have something to gain, they’ll keep talking and start negotiating—and maybe sell to you. Would you rather have more sales in a hot market—even if sellers are commanding a bit more coin—or fewer sales overall? It’s a no-brainer, folks …
Take the Time, Do It Right
Undoubtedly, quality call tracking software helps investors such as Max maximize (you knew we had to go there!) their businesses. REI-specific solutions, of course, give you great data from the outset—someone calls and all their pertinent info shows up on your screen.
The best software also includes features such as ringless voicemail, which improves the probability of successfully getting someone on the phone, perhaps even calling you back. More personalization arms you for better connections and negotiations. Moreover, with excellent call tracking software, you can be confident you have all the accurate (which is sooooo important) info you need to engage a potential seller. Free from tedious research, you can focus on what you do best: closing the deal!
Like Max, you may find yourself on the phone more with prospects. And like Max, if you play your cards right, that time with callers will lead to more sales. Just be sure your phone is always charged, because you are going to need the juice to deliver the goods.