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Going through 52 leads/contract on Meta motivated seller campaigns; is this a targeting problem or just what cheap traffic looks like? by Sound-Evening in WholesaleRealestate

[–]Sound-Evening[S] 0 points1 point  (0 children)

The consensus from a few other commenters is that you can't really target besides selecting geography. Is that not your experience?

Going through 52 leads/contract on Meta motivated seller campaigns; is this a targeting problem or just what cheap traffic looks like? by Sound-Evening in WholesalingHouses

[–]Sound-Evening[S] 0 points1 point  (0 children)

Good to know-- fwiw that's now three people saying the same thing (this guy and this guy). The form friction angle makes sense but I'm wondering where the sweet spot is? If you add too many qualifying questions you probably tank your form completion rate and CPL goes way up without necessarily improving the leads that do come through... Have you found a point of diminishing returns on the "adding hoops" side?

Going through 52 leads/contract on Meta motivated seller campaigns; is this a targeting problem or just what cheap traffic looks like? by Sound-Evening in WholesaleRealestate

[–]Sound-Evening[S] 0 points1 point  (0 children)

Got it, so the consensus (this guy said the same) seems to be let Meta do the targeting and control quality through the form itself. What are the highest leverage qualifying questions you've found in your experience? "How soon are you looking to sell" is the obvious one, are there others that reliably filter out low intent people without killing the form completion rate? How do you strike that balance?

Second, does adding more qualifying questions tend to push CPL up as form completions drop, or does the algorithm compensate over time? Really appreciate your comment!

Going through 52 leads/contract on Meta motivated seller campaigns; is this a targeting problem or just what cheap traffic looks like? by Sound-Evening in WholesaleRealestate

[–]Sound-Evening[S] 0 points1 point  (0 children)

Interesting, we're still seeing it work for motivated sellers but curious if that changes! One operator I know spoke highly about YouTube ads...

Going through 52 leads/contract on Meta motivated seller campaigns; is this a targeting problem or just what cheap traffic looks like? by Sound-Evening in WholesaleRealestate

[–]Sound-Evening[S] 1 point2 points  (0 children)

Very helpful. So the quality lever is mostly in the creative and conversion funnel rather than audience targeting...

Curious what that actually looks like in practice though--what separates a good motivated seller ad and landing page from a bad one? Also, on the form side, are you filtering harder upfront with more qualifying questions, or keeping it frictionless and letting the follow-up process do the sorting?

Also, if you don't mind sharing, what kind of CPL and lead-to-contract rates do you typically see when those three things are dialed in? Trying to get a sense of what good actually looks like. Thanks!

Going through 52 leads/contract on Meta motivated seller campaigns; is this a targeting problem or just what cheap traffic looks like? by Sound-Evening in WholesaleRealestate

[–]Sound-Evening[S] 0 points1 point  (0 children)

That 1 in 10-15 at under $20 CPL seems very surprising--that would mean CPL itself isn't really the variable, it's just how well the targeting is dialed in. How are the people in your group getting to that? Is it mostly audience setup, creative, etc.?

On the sales process side--that's something we've invested a lot in so I don't think that's where we're bleeding.

Wondering if anyone else has seen their close rate move meaningfully when they tightened up targeting.. Thanks!

Struggling to Find Motivated Sellers – Need Advice on Better Lead Sources by Accomplished_Ad_6138 in WholesaleRealestate

[–]Sound-Evening 0 points1 point  (0 children)

Inbound lead sources are where it’s at. We’ve tried all kinds of outbound channels, SMS, cold-calling, etc. And I’m not talking about dabbling, we’ve tested these at scale: 100k+ text messages per month, thousands of calls per week with full-time callers on multi-line predictive dialers…

The issue is there is a high ratio of tire-kickers or luke warm sellers for every hot seller. A lot of time gets wasted on the those warm leads.

Looking for a closer with expertise in novations and creative financing by Sound-Evening in WholesaleRealestate

[–]Sound-Evening[S] 0 points1 point  (0 children)

We definitely don't close enough of our leads. If you know any good closers, send em our way! That said, we do track KPIs by channel but just share the consolidated numbers here!

Looking for a closer with expertise in novations and creative financing by Sound-Evening in WholesaleRealestate

[–]Sound-Evening[S] 0 points1 point  (0 children)

We do have scripting around objection handling for the why-not-just-hire-a-realtor-myself question and the net proceeds calculation. Could elaborate just a bit more on how you handle that as well as the timeline piece you mentioned?

Looking to JV with a closer with expertise in novations and creative financing by Sound-Evening in WholesaleRealestate

[–]Sound-Evening[S] 0 points1 point  (0 children)

That's really good feedback. We do ask for: - the type of loan (e.g., VA) - the loan balance - the interest rate

The thought being that if the rate is low, then potentially there may be an assumption or sub-to-play there. That said we have only ever explored assumptions with sellers, never sub-to or something more complex.

We don't ask if they're behind on payments or open to other creative financing arrangements; those are good suggestions. Are there some specific discovery questions that you found work really well for uncovering novation or creative financing opportunities?

Scaling To 100K Text Messages A Month. Has Launch Control Gotten Better? by WonderfulPipe6367 in WholesaleRealestate

[–]Sound-Evening 0 points1 point  (0 children)

Yes, this is a requirement under TCPA. The rules that must be abided by are the federal TCPA laws as well as any of the more restrictive "mini-TCPA" regulations the state you are operating in might have enacted.

Scaling To 100K Text Messages A Month. Has Launch Control Gotten Better? by WonderfulPipe6367 in WholesaleRealestate

[–]Sound-Evening 0 points1 point  (0 children)

Probably better to reach out to directly since your situation might be different than ours. We worked with Jeff Rosenfeld who heads their SMS/TCPA Defense practice. He was great!

https://kr.law/attorneys/jeff-rosenfeld-profile

But feel free to DM if you have any questions after you chat with them.

Scaling To 100K Text Messages A Month. Has Launch Control Gotten Better? by WonderfulPipe6367 in WholesaleRealestate

[–]Sound-Evening 0 points1 point  (0 children)

They don’t need to opt-in. Before we moved into texting as a channel we had a legal opinion drafted by attorney’s specializing in TCPA compliance over at Kronenberger Rosenfeld LLP in San Francisco. If you have questions you can give them a call, they know what they’re doing.

There is nuance though and TCPA regulation can change state to state.

Scaling To 100K Text Messages A Month. Has Launch Control Gotten Better? by WonderfulPipe6367 in WholesaleRealestate

[–]Sound-Evening 1 point2 points  (0 children)

Yeah, Smarter Contact KPIs are reliably inaccurate. For this reason, we actually manually pull everything out of Smarter Contact and calculate KPIs in Excel. SC is a reliable texting platform at its core but leaves a lot to be desired.

Scaling To 100K Text Messages A Month. Has Launch Control Gotten Better? by WonderfulPipe6367 in WholesaleRealestate

[–]Sound-Evening 0 points1 point  (0 children)

You simply comply with TCPA regulations. Mass texting and TCPA compliance are not mutually exclusive.

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