Agents Online Real Estate Forums, Discussion, Realtors Marketing Tips

Follow AgentsOnline on TwitterFollow AgentsOnline on Facebook

Click Here to display our logo on your site and link to us!
AgentsOnline Real Estate Discussion Forums Logo

Realtor CommunityA popular online real estate community since 1998!


Advertisements


Sponsored Links
Advertisements
How To Advertise Here
How To Advertise Here

Sponsored Links
(Views)Popular Topics
I MAKE 100 COLD CALLS EVERY DAY & LOVE IT! 29217997
No new orders today 13244628
Stupid MLS comments. 3534562
What do you know about Froy Candelario, top agent in USA 1339702
Stupid QC comments and BPO requirements. 1181376
New HUD Listing Brokers---Any Update? 1124613
Is there religious content in Buffini class? 910383
Let's talk about our cars 761770
Most common items found at an REO 688147
Pay it Forward - BPO/REO Tips & Tricks I & II 673776
Name that Flick. Great movie Lines. 667596
REOTRANS 512555
Main Street 498602
EML 459242
asset val seminar in colorado 454516
assist 2 sell or 1 percent realty? 390332
HOMONYMS - There, Their, and They're 368007
Evalonline 300215
Land America 285056
Mainstreet 261863
Matched Content
Page 6 of 6 < 1 2 3 4 5 6
Topic Options
Rate This Topic
#466052 - 10/30/19 11:22 PM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! ***** [Re: OahuAgent]
DangerRanger Offline
Member

Registered: 08/03/17
Posts: 32
Loc: BC
I should clarify a bit on the $/hrs but I didn't want to ramble on any more than I did. The other two sources of business for me (beyond cold calling) have been 1. my past clients/referrals and 2. expireds.

It's hard to know exactly how much business I will get back from my database each year but I hope to expect 10 or more deals. I have a pretty basic touchpoint system with my database but that is something I'm looking to improve upon next year as well as I believe there is more business to capture there through referrals. The thing too is that with door knocking the way I'm doing it (farming style of 6000 homes) it is like creating another large database to work as people become more familiar with me over time. In order to aid in this I not only do the "I have a buyer" style scripts but also do fundraising etc. This winter I am doing a fundraiser to pick up your old Christmas tree in exchange for a donation to the food bank. I plan to door knock at least 1000 homes with a flyer explaining the fundraiser with my branding on it as well (I have people to help me with the pickups too). This is of course just one example of what I'm doing and I have some other cost effective things like this planned for the new year that are season specific. More or less I'm trying to become more and more a part of the community.

Outside of my database the most profitable business activity I have done, bar none, has been knocking on the doors of expireds. I've tracked it and it takes roughly 55 doors for one sale. This means I make just shy of $200 for each expired I knock on regardless of whether they answer. Of course my numbers are going to be market specific according to average sales price etc. but I know I can easily hit 4 doors an hour (or more depending on how close the expireds are to eachother) accounting for driving time. In other words I can make closer to $800/hour with expireds. I would gladly do expireds all day every day but unfortunately given the size of my market there are not enough opportunities for me to confidently run my business that way. Door knocking, on the other hand, is virtually limitless.

It looks to me that door knocking and cold calling have a very similar $/hr but the thing for me is I enjoy door knocking a lot more and I get to work in a smaller area that I can specialize in (which hopefully has a payoff as well). I also believe that over time, by way of farming style door knocking, the $/hr will increase significantly with door knocking as people come to see me as the expert in the area.

Top
Advertisements
#466053 - 10/30/19 11:32 PM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: Z06Fanatic]
DangerRanger Offline
Member

Registered: 08/03/17
Posts: 32
Loc: BC
[quote=Z06Fanatic]Awesome numbers by the way.....I wonder how much more effective doors are vs the phone - it sounds like you're getting about 12-13 contacts an hour at the doors. If you could get 50/hr on the phone would door knocking make more money? I'm sure too with the amount of deals you do you have a lot of past clients/follow up that pays very well. I do mainly expireds and find that most effective - never door knocked but would of course if it translated to bigger money. [/quote]

It's totally true that you can contact more people over the phones than door knocking. I used a triple line MOJO dialer for cold calling (one not two -- that sh*t is nuts, haha). What I find though, for me, is that the resistance is way lower at the door. I think the conversion per contact is better at the door (less actual contacts per sale) for a couple reason:

1. They can see you're a person in their community (they know you're not a telemarketer overseas).
2. People are more civil when you're standing face to face in front of them.
3. You have the opportunity to communicate in a more sincere way (body language).
4. (Not really so much a point as much as something I like) I can tell right away if they are the kind of client I want to work with. Pretty easy to get the personality of someone when you talk to them face to face.

The thing too is that I can knock on 100% of the doors in my area but not everybody has a land line. I live in Canada and we have much more stringent protections on the sharing of personal information versus the US. Getting cell phone numbers for example is very challenging and land lines are becoming less and less common.

At the end of the day any form of prospecting will work if you commit to it and stay consistent. I found that it was much harder for me to stay consistent with cold calling because I didn't enjoy it as much. There are some definite advantages to cold calling (the number one in my books is that you aren't exposed to the elements) but I just put on a heavier coat or wear shorts.

Top
#466054 - 10/31/19 06:09 AM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: DangerRanger]
OahuAgent Offline
Member

Registered: 03/09/14
Posts: 236
Loc: Honolulu, HI
[quote=DangerRanger]I should clarify a bit on the $/hrs but I didn't want to ramble on any more than I did. The other two sources of business for me (beyond cold calling) have been 1. my past clients/referrals and 2. expireds.

It's hard to know exactly how much business I will get back from my database each year but I hope to expect 10 or more deals. I have a pretty basic touchpoint system with my database but that is something I'm looking to improve upon next year as well as I believe there is more business to capture there through referrals. The thing too is that with door knocking the way I'm doing it (farming style of 6000 homes) it is like creating another large database to work as people become more familiar with me over time. In order to aid in this I not only do the "I have a buyer" style scripts but also do fundraising etc. This winter I am doing a fundraiser to pick up your old Christmas tree in exchange for a donation to the food bank. I plan to door knock at least 1000 homes with a flyer explaining the fundraiser with my branding on it as well (I have people to help me with the pickups too). This is of course just one example of what I'm doing and I have some other cost effective things like this planned for the new year that are season specific. More or less I'm trying to become more and more a part of the community.

Outside of my database the most profitable business activity I have done, bar none, has been knocking on the doors of expireds. I've tracked it and it takes roughly 55 doors for one sale. This means I make just shy of $200 for each expired I knock on regardless of whether they answer. Of course my numbers are going to be market specific according to average sales price etc. but I know I can easily hit 4 doors an hour (or more depending on how close the expireds are to eachother) accounting for driving time. In other words I can make closer to $800/hour with expireds. I would gladly do expireds all day every day but unfortunately given the size of my market there are not enough opportunities for me to confidently run my business that way. Door knocking, on the other hand, is virtually limitless.

It looks to me that door knocking and cold calling have a very similar $/hr but the thing for me is I enjoy door knocking a lot more and I get to work in a smaller area that I can specialize in (which hopefully has a payoff as well). I also believe that over time, by way of farming style door knocking, the $/hr will increase significantly with door knocking as people come to see me as the expert in the area. [/quote]

Doing a lot of listings in a smaller area will get you noticed alot more than having signs across the metro area.

Top
#466055 - 10/31/19 06:13 AM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: DangerRanger]
OahuAgent Offline
Member

Registered: 03/09/14
Posts: 236
Loc: Honolulu, HI
[quote=DangerRanger][quote=Z06Fanatic]Awesome numbers by the way.....I wonder how much more effective doors are vs the phone - it sounds like you're getting about 12-13 contacts an hour at the doors. If you could get 50/hr on the phone would door knocking make more money? I'm sure too with the amount of deals you do you have a lot of past clients/follow up that pays very well. I do mainly expireds and find that most effective - never door knocked but would of course if it translated to bigger money. [/quote]

It's totally true that you can contact more people over the phones than door knocking. I used a triple line MOJO dialer for cold calling (one not two -- that sh*t is nuts, haha). What I find though, for me, is that the resistance is way lower at the door. I think the conversion per contact is better at the door (less actual contacts per sale) for a couple reason:

1. They can see you're a person in their community (they know you're not a telemarketer overseas).
2. People are more civil when you're standing face to face in front of them.
3. You have the opportunity to communicate in a more sincere way (body language).
4. (Not really so much a point as much as something I like) I can tell right away if they are the kind of client I want to work with. Pretty easy to get the personality of someone when you talk to them face to face.

The thing too is that I can knock on 100% of the doors in my area but not everybody has a land line. I live in Canada and we have much more stringent protections on the sharing of personal information versus the US. Getting cell phone numbers for example is very challenging and land lines are becoming less and less common.

At the end of the day any form of prospecting will work if you commit to it and stay consistent. I found that it was much harder for me to stay consistent with cold calling because I didn't enjoy it as much. There are some definite advantages to cold calling (the number one in my books is that you aren't exposed to the elements) but I just put on a heavier coat or wear shorts. [/quote]

I think I contact about the same at the doors vs on the phone because the answer rate at the door is 2 or 3 times the 10% pick up rate over the phone. I end up contacting the same 10-15 people an hour.

Top
#466056 - 10/31/19 06:14 AM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: OahuAgent]
OahuAgent Offline
Member

Registered: 03/09/14
Posts: 236
Loc: Honolulu, HI
I do like the phones for calling condos, gated communities, and neigborhoods with lots of gates.

Top
#466057 - 10/31/19 01:41 PM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: OahuAgent]
DangerRanger Offline
Member

Registered: 08/03/17
Posts: 32
Loc: BC
[quote=OahuAgent]I do like the phones for calling condos, gated communities, and neigborhoods with lots of gates.
[/quote]

Yeah there are some gated communities in my farm which I'll be missing unfortunately. Some retirement communities like this do have open gates but they have 'no solicitation' signs and there is usually one or two old codgers in there who will complain if you door knock. Truth be told I have door knocked these communities in past years and every time I door knocked one I would get a listing... but I would get a complaint too. I don't want bad press though so I choose to respect the no solicitation signs (even at regular doors). With that being said when I do my fundraiser I will knock on every door because I think I'll be able to get away with it with less flack (hopefully)

Top
#466058 - 10/31/19 11:54 PM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: DangerRanger]
Trouble Offline
Veteran Member

Registered: 02/15/16
Posts: 613
Loc: GTA Ontario
Danger Ranger, Thanks for your honesty on this forum. You have given me something to think about. The weather is a factor for me. It's usually a "bad hair" day out there.

Top
#466059 - 11/01/19 03:26 AM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: Trouble]
DangerRanger Offline
Member

Registered: 08/03/17
Posts: 32
Loc: BC
[quote=Trouble]Danger Ranger, Thanks for your honesty on this forum. You have given me something to think about. The weather is a factor for me. It's usually a "bad hair" day out there. [/quote]

No problem Trouble! If I can help in any way I'm happy to.

Top
#466060 - 11/01/19 03:40 AM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: bkyle1991]
DangerRanger Offline
Member

Registered: 08/03/17
Posts: 32
Loc: BC
Didn't get as much door knocking done today because I got a late start and today was Halloween so I didn't want to get too close to when the trick or treaters were out and about (wrapped up at 3:30). I got 2 hours in today (1 hour less than my minimum) but still got some good results overall.

-73 doors knocked.
-22 answers.
-1 very good lead (buying and selling).
-1 CMA scheduled for next week (above lead).

I've done door knocking in the past but not for a while and not at the level I've been hitting the doors over the last month. It definitely is getting easier every day. Today was great because everyone had all their Halloween decorations out so there was a lot to talk about with people rather than just real estate. I try to keep it brief and cordial with people but I find if I can talk about something specific to the person whose door I'm knocking they are way more chill and less standoffish. When I first got back at door knocking I don't think I would have been as comfortable going off tangent with people but being comfortable with the process is definitely making a world of difference and the results are getting better. Can't wait to see what happens after a couple years of cycling through my farm area (plan to knock every door 4x/year).

Top
#466062 - 11/01/19 05:45 AM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: Trouble]
OahuAgent Offline
Member

Registered: 03/09/14
Posts: 236
Loc: Honolulu, HI
[quote=Trouble]Danger Ranger, Thanks for your honesty on this forum. You have given me something to think about. The weather is a factor for me. It's usually a "bad hair" day out there. [/quote]

If you door knock in bad weather, poeple will respect that.

Top
#466063 - 11/01/19 06:09 AM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: DangerRanger]
OahuAgent Offline
Member

Registered: 03/09/14
Posts: 236
Loc: Honolulu, HI
[quote=DangerRanger]Didn't get as much door knocking done today because I got a late start and today was Halloween so I didn't want to get too close to when the trick or treaters were out and about (wrapped up at 3:30). I got 2 hours in today (1 hour less than my minimum) but still got some good results overall.

-73 doors knocked.
-22 answers.
-1 very good lead (buying and selling).
-1 CMA scheduled for next week (above lead).

I've done door knocking in the past but not for a while and not at the level I've been hitting the doors over the last month. It definitely is getting easier every day. Today was great because everyone had all their Halloween decorations out so there was a lot to talk about with people rather than just real estate. I try to keep it brief and cordial with people but I find if I can talk about something specific to the person whose door I'm knocking they are way more chill and less standoffish. When I first got back at door knocking I don't think I would have been as comfortable going off tangent with people but being comfortable with the process is definitely making a world of difference and the results are getting better. Can't wait to see what happens after a couple years of cycling through my farm area (plan to knock every door 4x/year). [/quote]

1 good lead after 73 doos is huge.

I knock on individual doors (not complexes) with "no soliciting" signs and don't get any resistance. (Maybe those are for pushy salespeople that won't go away?)

I just introduce myself and if there is anything I can do for them. They usually say no and I ask if they have any plans in the next year.

From there they might tell me about their business, ask me about the market, why everyone seems to be moving, and sometimes they say they are moving in a year or two. Even renters say they might be looking to buy in a year. Sometimes they are moving and already have an agent.

Most of the time I let them know I'm available if they ever need anything and move on. To get out into the neighborhoods is productive and you get exercise as well.

Top
#466064 - 11/01/19 12:36 PM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: OahuAgent]
DangerRanger Offline
Member

Registered: 08/03/17
Posts: 32
Loc: BC
[quote=OahuAgent][quote=DangerRanger]Didn't get as much door knocking done today because I got a late start and today was Halloween so I didn't want to get too close to when the trick or treaters were out and about (wrapped up at 3:30). I got 2 hours in today (1 hour less than my minimum) but still got some good results overall.

-73 doors knocked.
-22 answers.
-1 very good lead (buying and selling).
-1 CMA scheduled for next week (above lead).

I've done door knocking in the past but not for a while and not at the level I've been hitting the doors over the last month. It definitely is getting easier every day. Today was great because everyone had all their Halloween decorations out so there was a lot to talk about with people rather than just real estate. I try to keep it brief and cordial with people but I find if I can talk about something specific to the person whose door I'm knocking they are way more chill and less standoffish. When I first got back at door knocking I don't think I would have been as comfortable going off tangent with people but being comfortable with the process is definitely making a world of difference and the results are getting better. Can't wait to see what happens after a couple years of cycling through my farm area (plan to knock every door 4x/year). [/quote]

1 good lead after 73 doos is huge.

I knock on individual doors (not complexes) with "no soliciting" signs and don't get any resistance. (Maybe those are for pushy salespeople that won't go away?)

I just introduce myself and if there is anything I can do for them. They usually say no and I ask if they have any plans in the next year.

From there they might tell me about their business, ask me about the market, why everyone seems to be moving, and sometimes they say they are moving in a year or two. Even renters say they might be looking to buy in a year. Sometimes they are moving and already have an agent.

Most of the time I let them know I'm available if they ever need anything and move on. To get out into the neighborhoods is productive and you get exercise as well.

[/quote]

I tried the Ricky Carruth method for a period of time to see how it would go but I found people were a lot more skeptical. The problem too is that because of my age (33) people can assume I'm new to real estate. If I'm there for a reason, beyond just soliciting for listing business (which is essentially what the Carruth script is trying to lead to), then I think people see me as someone who is busy and working hard versus someone who is maybe a newer agent looking for business. It might all be in my head but I like to have a legitimate reason to be at their door. It could be different here too. Maybe people are more skeptical. Maybe when the neighbours have seen me pop by a few times they will be receptive to that kind of a script though too.

Top
#466071 - 11/01/19 10:32 PM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: DangerRanger]
OahuAgent Offline
Member

Registered: 03/09/14
Posts: 236
Loc: Honolulu, HI
[quote=DangerRanger][quote=OahuAgent][quote=DangerRanger]Didn't get as much door knocking done today because I got a late start and today was Halloween so I didn't want to get too close to when the trick or treaters were out and about (wrapped up at 3:30). I got 2 hours in today (1 hour less than my minimum) but still got some good results overall.

-73 doors knocked.
-22 answers.
-1 very good lead (buying and selling).
-1 CMA scheduled for next week (above lead).

I've done door knocking in the past but not for a while and not at the level I've been hitting the doors over the last month. It definitely is getting easier every day. Today was great because everyone had all their Halloween decorations out so there was a lot to talk about with people rather than just real estate. I try to keep it brief and cordial with people but I find if I can talk about something specific to the person whose door I'm knocking they are way more chill and less standoffish. When I first got back at door knocking I don't think I would have been as comfortable going off tangent with people but being comfortable with the process is definitely making a world of difference and the results are getting better. Can't wait to see what happens after a couple years of cycling through my farm area (plan to knock every door 4x/year). [/quote]

1 good lead after 73 doos is huge.

I knock on individual doors (not complexes) with "no soliciting" signs and don't get any resistance. (Maybe those are for pushy salespeople that won't go away?)

I just introduce myself and if there is anything I can do for them. They usually say no and I ask if they have any plans in the next year.

From there they might tell me about their business, ask me about the market, why everyone seems to be moving, and sometimes they say they are moving in a year or two. Even renters say they might be looking to buy in a year. Sometimes they are moving and already have an agent.

Most of the time I let them know I'm available if they ever need anything and move on. To get out into the neighborhoods is productive and you get exercise as well.

[/quote]

I tried the Ricky Carruth method for a period of time to see how it would go but I found people were a lot more skeptical. The problem too is that because of my age (33) people can assume I'm new to real estate. If I'm there for a reason, beyond just soliciting for listing business (which is essentially what the Carruth script is trying to lead to), then I think people see me as someone who is busy and working hard versus someone who is maybe a newer agent looking for business. It might all be in my head but I like to have a legitimate reason to be at their door. It could be different here too. Maybe people are more skeptical. Maybe when the neighbours have seen me pop by a few times they will be receptive to that kind of a script though too. [/quote]

Doesn't really matter what you say. I had a lady tell me she respects an agent that knocks on doors and even though she was not moving she wanted my card.

My main goal when door knocking is to find out who is moving and who is not moving so I can follow up effectively.

Top
#466074 - 11/02/19 08:29 PM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: bkyle1991]
DangerRanger Offline
Member

Registered: 08/03/17
Posts: 32
Loc: BC
Thinking of trying out some selective door knocking next week. I came up with an idea to target people who bought their homes 4-10 years ago because the amount of equity they have in their home should be pretty good at this point (given what out market has done). The plan is to mail these people, in the neighbourhoods I'm targeting, letters one week and knocking on their doors the following week. This way they'll get the letters and know why I'm popping by; making it a warmer contact and hopefully more effective. The letter will go something along the lines of:

-----------------------------
Hi _______,

I wanted to reach out to you because you're likely in an enviable position with your home which should give you the opportunity to do a variety of things, without touching your savings, like:

-Renovate your home and increase it's value.
-Invest in rental property for retirement planning.
-Get that house with one more bedroom.

I'll try popping by to see you in the coming week or two but, if this interests you in any way, give me a shout and I'll gladly get you more exact figures so you can start planning.

-----------------------------

If they renovate their home that doesn't do much for me right now but its relationship building and I'll hopefully be able to push people to my lenders for referral business.

There is a bit of evening work to get this going but its pretty minimal. If anyone has any input on this its appreciated!

Top
#466082 - 11/05/19 01:32 PM Re: I KNOCK 9999999 DOORS A DAY & I LUV IT!!! [Re: DangerRanger]
Trouble Offline
Veteran Member

Registered: 02/15/16
Posts: 613
Loc: GTA Ontario
Certainly the focus has to be on properties that have built up equity over time. The challenge we have in our marketplace is the upgrade cost from a semi detached or townhouse to a detached home is between $100,000-200,000. That is a significant increase in mortgage payments. Thus people stall moving.
The downsizers want to pull equity out but they need to move out of town or rent.

I think your approach is sound. Good luck with it.

Top
Page 6 of 6 < 1 2 3 4 5 6






Google Custom Forum Search

This Google Custom search may do a better job of searching the forums for some keywords than the old forum search does. The results do not include threads from the Asset Managers Forum however. To search that forum you will need to be actually in the Asset Managers Forum and you will need to use the old forum search below.
Search

Newest Members
Semi, Breezy LL, jmarshallsquare, jeannptns01, s3th1j0hns0n
31032 Registered Users
Who's Online
1 registered (Scagent), 54 Guests and 7 Spiders online.
Key: Admin, Global Mod, Mod
Shout Box

Top Posters (30 Days)
Z06Fanatic 20
CathCoy 20
realestategreat 16
Lucky Leonardo 15
T.T. 12
OahuAgent 11
Trouble 9
Long Walk 4
RATKOS 3
Bigtoe 3
emoore0023 2
Scagent 2
sualk54 2
ChadRealEstate 2
ready2learn 2
Featured Member
Registered:
Posts: 1
Facebook

How To Advertise Here


This site presented by RNC Internet Services