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What You Don't Know About REI Software Could Be Costing You—Big Time

     

Gray house under colorful sky | REI Software

You’re in the business of making money, not losing it. What you might not realize is that the outdated software you’re using to find, track, and close REI deals could actually be costing you. Hey, we can hear your chorus of responses right now: “But Excel isn’t outdated, everybody uses it.” “But all the software I use is free.” “But my system works for me.” But, but, but … But you’re probably not making as much money as you would be if you were using better software.

Ditch Your Dinosaur Ways

Just because you use a computer to manage your REI business doesn’t mean you’re maximizing technology. Here’s why you’re leaving money on the table if you don’t periodically evaluate your software needs.


Excel is Not the Endgame

Excel was a revelation when it was released—more than 30 years ago. Yes, it gets updated, but not for what you want it to do. Spreadsheets are designed for crunching numbers, and they’re great for that, but closing REI deals requires qualitative information, and Excel is just not designed to handle that type of data efficiently. Keeping track of hundreds of prospects in an Excel spreadsheet is like asking a toddler to do your taxes. It’s never going to live up to your standards and it’s a huge financial mistake.  


Medleys Are for Music, Not Software

We all know this game. You use one free or cheap software solution to manage leads, another for skip tracing, one more for voicemail drops, and yet another for tracking data from your landing pages. Holy crap, that’s a lot to juggle. Even if you’re a master juggler, wouldn’t your energy be better spent engaging prospects and closing deals? Why waste your time trying to make different systems work together if you don’t have to? Sure, there might have been a time when that was your only option, but times have changed and you need to be changing with them if you want to stay competitive.   


Alienating Prospects Does Not Yield Profits

You’ve got a call coming in from a new lead. You’ve got their name from your call tracking software; you might even know what property they’re calling about. But do you know if you’ve talked to them before, which offers they have received, the history of the property, and every other detail you need to finesse the deal? If you’re one of those photographic memory people, maybe you do. But if you’re like most people, chances are you don’t have all of the information you need at your fingertips to project confidence and build trust within seconds of answering the phone.


Inaccurate Data is Total Time Waster

Skip tracing and phone append solutions that deliver incomplete or inaccurate data waste your time and prevent you from finding deals, much less closing them. You’ve been there before—you’re on a roll going through your call list to reach out to new prospects and you hit a wrong number, or worse, you have bad intel and sound like you don’t know what you’re talking about. It’s bad for your mojo and it’s bad for business.

Dive into the Big Data Age

We know you’re a smartypants, but software can help you work smarter, especially if you’re using it to its fullest potential. Information is power, but only if it’s complete and easy to access. Instead of having a giant spreadsheet, use the modern tools available to you to save time, work more efficiently, and—most importantly—make more money.


Invest in Good Data

The old “you get what you pay for” adage is true in almost every area of life and business. If you want to be a successful REI professional, why in the world would you build your business on a foundation of crappy data? It just doesn’t make sense. Is have access to complete data free? No. Is the return on investment worth it for a quality database with regularly updated information? Definitely.


Streamline Your Systems

The more prospects you can talk to in a day, the higher your close rate will be. It’s basic math. Streamlining your workflow with a multi-purpose REI software tool lets you get work done faster, which means you can do more in a day, which means you can make more money. Maybe when you got started there wasn’t a single solution; maybe you have been bootstrapping for a couple years and it feels like it ain’t broke. Whatever your excuse is, it’s lame. If you’re stuck in the old ways, there’s a better way to run your REI business—and if you don’t do it, you’re not maximizing your profits.

Streamline with a Single Solution

Using a software solution (or … six of them?) that is not designed for REI professionals will ultimately cost you money. You’ll have incomplete information about potential deals, and you can’t close what you never see. On the other hand, using a single software solution that includes website templates, smart landing pages, call tracking, skip tracing, voicemail drop, CRM, a powerful property database, and reporting tools allows you to seamlessly integrate research, marketing, and sales. The result is more deals and more money.

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