The Power of Tracking Numbers and Building Relationships: Insights from Joe Rosen
Welcome to The REDX Podcast, where we bring you practical advice and expert insights to help you succeed in the real estate industry. In this episode, one of our favorite return guests, Joe Rosen, sharesredx his expertise on tracking numbers and building relationships. Let’s dive right in and explore the valuable insights Joe has to offer.
Tracking Your Numbers: The Key to Success
When it comes to tracking your numbers, Joe emphasizes the importance of knowing your metrics like the back of your hand. He suggests using tools like Sisu or CTE (an Excel spreadsheet) to track your numbers effectively. Knowing your numbers allows you to make informed decisions and focus on the strategies that yield the highest return on investment.
Joe shares his personal experience, stating that it takes his team an average of 708 dials to close a deal. By tracking this number, he can determine the most efficient prospecting methods and allocate his time accordingly. For example, he compares the results of cold calling to open houses and highlights the significant difference in the number of conversations generated. Cold calling, despite the initial rejection and awkwardness, offers a higher number of potential opportunities compared to open houses.
For new agents, Joe advises patience and persistence. It may take time to determine the baseline and understand the numbers specific to your market. However, by consistently tracking and analyzing your metrics, you can gradually refine your approach and improve your business.
Building Relationships: The Heart of Cold Calling
While tracking numbers is crucial, Joe emphasizes the importance of building relationships through cold calling. He believes that the intent behind the call should be to help and add value to the prospect, rather than focusing solely on closing deals. By approaching cold calls with the mindset of building rapport and understanding the prospect’s needs, agents can create a more positive and effective conversation.
Joe provides examples of how to engage prospects in meaningful conversations. By asking open-ended questions and showing genuine interest, agents can establish a connection and gain valuable insights into the prospect’s situation. This approach allows for a more personalized and tailored follow-up strategy, ensuring that the prospect feels heard and understood.
The Power of Follow-Up and Automation
Follow-up is a critical component of relationship-building, and Joe emphasizes its importance throughout the sales process. He recommends using automation tools to stay in touch with prospects and provide valuable information. For example, Joe shares how he utilizes market updates and weekly emails to keep prospects engaged and informed about their local real estate market.
By consistently following up and providing value, agents can position themselves as trusted advisors and increase their chances of securing future business. Joe advises new agents to follow up with any leads that show even the slightest interest, gradually transitioning to focus on warmer leads as their business grows.
Now Business Leads: Expired Listings and For Sale By Owners
While cold calling is an effective strategy for generating leads, agents often seek now business opportunities. Joe suggests targeting expired listings and for sale by owners (FSBOs) to connect with homeowners who are actively looking to sell their properties.
When engaging with now business leads, Joe emphasizes the importance of understanding the prospect’s timeline and offering solutions tailored to their needs. By demonstrating empathy and sharing personal experiences, agents can build trust and position themselves as valuable resources.
Joe recommends offering a free home valuation as a starting point for now business leads. This approach allows agents to provide valuable insights and establish themselves as experts in the local market. By focusing on the prospect’s needs and offering solutions, agents can increase their chances of securing listings and closing deals.
Conclusion: The Path to Success
In conclusion, Joe Rosen highlights the importance of tracking numbers, building relationships, and consistent follow-up in the real estate industry. By knowing your metrics and focusing on the strategies that yield the highest return on investment, agents can optimize their time and resources.
Furthermore, by approaching cold calling with the intent to help and add value, agents can build rapport and establish meaningful connections with prospects. Consistent follow-up, both through automation and personalized interactions, allows agents to stay top of mind and position themselves as trusted advisors.
While the journey to success may require patience and persistence, agents who prioritize tracking their numbers, building relationships, and continuous improvement of their skills will undoubtedly thrive in the competitive real estate market.
Thank you for joining us on this insightful episode of The REDX Podcast. We hope you found Joe Rosen’s expertise valuable and that you can apply these strategies to enhance your real estate business. Remember, success lies in tracking your numbers, building relationships, and consistently following up. Stay tuned for more practical advice and expert insights on future episodes. Until then, happy prospecting!
REDX is an all-in-one lead data and prospecting platform that helps agents connect with qualified buyers and sellers. The platform includes a skiptrace service for seller leads, a dialer with up to three lines, social media tools, and a lead management system that simplifies first contact and follow up.
Click here to watch a demo, or call (800) 731-7339 ext. 1 to learn more about skiptrace products for Expireds, FSBOs, GeoLeads, FRBOs, Pre Foreclosures, our Power Dialer and Social Media Tools for paid ads and content creation.
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