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Episode 267: Sales Statistics #FollowUp

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In today’s episode David Dodge talk about sales statistic and how important it is to follow up. Wholesaling is all about getting in touch with people and following up with them. You have to be in contact with your people. You gotta be consistent to be successful. Hope you enjoyed this short episode and learned a few things.

Things that will cover in this episode:

  • Sales Statistic

David’s Social Media:

Welcome back to the Discount Property Investor podcast. Our mission is to share what we have learned from our experience and the experience of others to help you make more money investing like a pro. We want to teach you how to create wealth by investing in real estate, the discount property investor way. To jumpstart your real estate investing career, visit freewholesalecourse.com, the most complete free course on wholesaling real estate ever. Thanks for tuning in.

David: Hey guys, welcome back to the discount property investor podcast. I’m your host David Dodge and today we are going to be talking about sales statistics. I just want to jump into this and do a quick episode on sale statistics and how important it is to follow up. I mean, it’s so incredibly important. It’s actually in fact the most important part of the wholesaling business. This is a marketing business and wholesaling is all about getting in touch with people and following up with them. So here’s some statistics about sales that is going to really really be valuable to those that aren’t following up. So here we go. 48% of sales people will never follow up with a prospect, that’s basically half. 25% of sales people make a second contact and then they stop right there, just a second contact. So 50% don’t do a single follow-up and 25% will only do one follow up. Only 12% of people will make 3 contacts, that’s it, 12%. And only 10% of sales people will make a fourth contact, that’s it, 10%. So here’s where it really gets interesting. 2% of sales are made on the first contact which is about where half the people stop, 2%. 3% of sales are made on the third, I’m sorry, the second contact, 3% and 5% on the 3rd so they don’t really move much 2, 3, 5%, first, second and third contact. 10% are made on the fourth but if you want to jump all the way down to 80%, it’s the fifth all the way to twelfth, so that includes all those. Fifth through twelfth contact is going to be 80% of the sales. So, follow-up is so incredibly important. You have to be in contact with your people, follow up with them 5 times, 6 times, 7 times, 8 times, 9 times, 10 times, 11 times, 12 times. Between the fifth and the twelfth contact is where 80% of deals get done. Now we’ve done about 700 deals at this point and our average deal takes four to six months. It’s because we’re calling people and following up with them via text and email and phone calls specifically, sometimes even postcards 5, 6, 7, 8, 9, 10, 11 or 12 times on average. It’s repetitive, it’s annoying saying that every time but it’s so important for you to realize and learn and understand that that’s what it takes to be successful. You got to be consistent guys. That’s it, this is a short episode, quick and easy. Testing out a new microphone here as well. Hope you guys enjoyed that and learned a few things. Don’t be like the rest of these suckers that stop after one call or two calls or even three calls guys, call, follow-up, be that person that can help solve the problems for those people. Consistency. Thanks for listening.

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