In 1968, an inventor named Ted Paraskevakos began work on a technology that, five decades later, would evolve to become indispensable to REI professionals. See, this electrical and communications engineer (please don’t make us try typing his name again; we’re not even sure we got it right the first time …) developed something that everybody who uses a phone—not just real estate investors—takes for granted today: caller ID.
Over the years, the technology grew to multiple uses. One of these uses is modern call tracking, in which you call someone or they call you, and a trove of information is instantly called up on your computer screen or smartphone. And though the myriad of functionality surrounding call tracking software seems complex, for REI, the expansion of Para …, Paras …, um, Ted’s original idea remains straightforward: Your phone delivers data when you need it.
Here is a closer look at why real estate call tracking software shouldn’t be complicated:
Call Tracking for REI
Call tracking has become a must-have tool for any serious REI professional. Successful relationship-building with potential sellers requires information, and quality call tracking software instantly delivers that info every time you call a prospect or the prospect calls you. From this position of intelligence, you can build trust with the property owner and negotiate with confidence. The statistics and data that emerge from your calls can also be tracked so that you can determine what is and isn’t working with your team's strategy and tactics.
For REI pros to get the most out of a call tracking system, it truly needs to be a system. That means the software should not only provide caller info, but also include a variety of features and benefits to round out a phone-based strategy for real estate investing. These features are:
- Call analytics to help improve customer conversions
- Insight into which call campaigns are delivering results or falling short of expectations
- Call recording for lead qualification and/or coaching
- The ability to know who is calling before the phone rings
- Voicemail drops
- Phone append services
- Task management
- Intelligent skip tracing
For damn sure, this list is comprehensive—but it must be to be competitive in the cutthroat REI market. These features give you an incredible base to develop REI strategy and grow your business. They also give you plenty of room to scale and the versatility to switch gears as needed. Finally, and most importantly, all these call tracker software tools deliver the information we already talked about—knowledge that gives you an advantage in negotiations and an edge against other investors.
Half-Assed Is Three-Quarters Sucky
We know what you’re thinking: The aforementioned features and benefits can be found in a variety of third-party solutions, so why can’t I just build my system as I go? Yes, you can get voicemail solutions and phone append separately, and they might adequately send voicemail drops and append data. But a hodgepodge of call solutions can become messy in a hurry. The services might not interact well with each other—the data from one, for example, may not be able to be imported into another. Moreover, you might be flipping from solution to solution, thus wasting time, potentially overlooking key details, and, most annoyingly, disrupting conversations with prospects. If you are on the phone with a property owner and need to pause for 20 seconds while you call up other software outside of your call tracking system, it’s enough of a window for the person to lose trust in you and hang up. REI demands efficiency; a mess of software will inevitably throw that off.
One System to Rule Them All
Rather than screwing around with multiple software solutions, choose a call tracking system that handles everything we outlined earlier in one easy-to-use interface. But beware: Plenty of multipurpose systems are out there, many designed without the REI professional in mind. These generic solutions are great for B2B organizations and SEO wizards, but not so much for the serious REI expert, who may find it less practical than trying to juggle a bunch of unconnected solutions. Don’t settle for chaos—go with a call tracking software designed with the advanced functionality and the simple user experience real estate investors need to thrive.