by Brian Brady
Commercial Real Estate Finance Expert
Structured Debt and Equity
Licensed Real Estate Broker in AL, CA, and FL
I’ve been saying this ever since I started marketing on social networks:
PICK UP THE DAMN PHONE, PEOPLE!
Just look at this mess! Now, egos are involved so we’re now at a point of mutually assured destruction.
The digital divide. I’m talking about the importance of bridging the digital divide, next week. This debacle is yet another example of how dangerously potent misinterpreted information, transmitted on the internet, can be. The simple act of pressing ten digits can initiate a REAL connection. Try it with a commenter and you’ll be surprised with the result; you’ll make a friend for life.
Let me tell you my story:
I started writing here, last Christmas. I was having dinner, right before New Year’s, and checked my e-mail on my new, bad-ass cell phone…incoming Bawld-Mail; it was Jeff Brown. Rather than Twitter, e-mail, or comment on a blog post, I called him. That call was worth about 40 grand.
I’ve moderated a group on MySpace, for Realtors, since 2005. Before Active Rain came along, it was letting me peek at 4-5 loan opportunities a month. Active Rain? More profitable than the Jeff call. Christine Forgione chuckled about my yellow postcard but she knows who I am.
Ten digits. Ask Laurie Manny what happened when she put MLS search buttons on her blog. The phone numbers came streaming in…begging for help. No tweets- ten digits. Ask Rhonda Porter what happened when she closed comments on her weekly mortgage rate posts. The calls started coming in.
Unfair? Opaque to the consumer? Are we trolling to trick people into becoming leads when we insist on taking the conversation off-line? I don’t think so.
The phone call separates the wheat from the chaff, the signal from the noise, the serious from the frivolous. When attacked, on my home weblog, I offered a three-way call, to explain my math. The drive-by commenter scurried away, too important to deal with the likes of me. His attitude was that he wanted to win a blog comment war, not educate nor be educated.
Do you want to be even MORE powerful in your on-line marketing efforts? Try to set up a meeting, like investment guru Ralph Weeks. Ralph’s a former rocket scientist turned money manager, clearly rooted in the power of technology. Ralph, with all of his technological know-how, had the good sense to call me and ask for a meeting. Seth Godin might talk about being remarkable but Jeff Brown and Ralph Weeks ARE remarkable. I know; I’ve lunched with both of them!
Marketing is about buying brain cells. It’s about nurturing relationships. As much as we talk about the efficacy of pull marketing, it’s the gentle nudge that increases that efficacy, cements the relationship, and clarifies the message.
We can’t hide behind the computers anymore. The long tail’s getting crowded with all the newcomers hanging on it. Dialing the ten digits ain’t a hard sell…
…it’s making a friend and building your OWN community.
Josh says:
Simple is usually better. Everything is so technology driven these days, which isn’t a bad thing. But sitting down, dialing the phone, and getting back to the basics is essential.
Nice post.
January 4, 2008 — 1:56 am
Eric Blackwell says:
Exactly. Todd Kaufman could have avoided all of this and actually turned it into a positive. You are very correct to point out that we can do the same.
Taking that same lesson to our marketing efforts is IMO truly good advice. It is not being opaque to (attempt to)get people to contact you in a medium that is best conducive to build trust quickly.
Good points Brian.
Best
Eric
January 4, 2008 — 7:37 am
Rhonda Porter says:
During this day and age, people are actually surprised when they hear a voice. I especially find this when working with clients who have found me from my blogs. The tone in their voice sounds like they’re thinking “Huh? She’s not just a website with a cheesy photo?” It makes you real. I think hand written notes are a nice touch too. People expect electronic (which is great). The sound of our voice makes us human. Great post, Brian!
January 4, 2008 — 8:15 am
Brian Brady says:
“Exactly. Todd Kaufman could have avoided all of this and actually turned it into a positive. You are very correct to point out that we can do the same.”
You understood it, Eric. Mr. Kaufmann should have called after the 2nd e-mail.
Eric, I think of you as a tech guy who markets (which may be entirely different from the true you) so I value your opinion. If you have ideas about how we can “bridge the digital divide” sooner, I want to hear them.
My challenge to you, because of your work, is how can we get the customer into OUR community where we call them like old friends?
January 4, 2008 — 8:59 am
Missy Caulk says:
The leads ( tongue in cheek because of all the rss feeds I’ve got today on that video) convert the best when we call them, even before their hand leaves the mouse.
That’s why we have smart phones so a quick call ASAP is our best conversion rate buyers.
January 4, 2008 — 9:03 am
Elaine Byrne says:
I’m not terribly high tech. My website is still a work in progress, and I recently discovered advertising on Craig’s List. But I’m working at this, thus my subscription to Bloodhound.
As a different slant to the phone point, I wanted to add this. Periodically I receive e-mails from “suspects”, sometimes describing their real estate needs, sometimes just asking for information. When I respond that I would like to follow up by phone and ask for either their number or propose that they call me, they pretty much disappear. Okay, I’m naive. I don’t understand why anyone would waste their time and mine. But at least this is as far as they get. Can’t visit with me voice-to-voice? We probably can’t help each other.
January 4, 2008 — 10:43 am
Jim Cosgrove says:
Brian, what is this, some sort of fancy California thing? Here in Maine we press 7 digits for in state and 10 for out of state. Now, some folks are wicked mad that we might have to get a second area code for the state in a year or two but it still won’t add up to 9 digits?
January 4, 2008 — 10:47 am
Bob in San Diego says:
>mutually assured destruction
That is how I view this.
January 4, 2008 — 11:17 am
Danilo Bogdanovic says:
Brian – I agree and I’m all for phone calls and face-to-face communication. Immediate two way communication such as that can be much more efficient than going back and forth online or via email. Phone or face-to-face communication also gives each party a better understanding of where the other is coming from and their point of view by being able to hear and see things such as tone, voice inflection and body language.
But there has to be an agreement between all parties to actually pick up the phone or meet in person. I have never been presented that option.
Mr. Kaufman has indicated his refusal to contact me via email or phone or to meet with me in person. Rather, he has called and emailed everyone around me including my broker, the local REALTOR association and others. Also, he has not returned phone calls from others that have tried to contact him outside the realm of who I just listed.
He has left me and the entire situation without the option of speaking over the phone or in person. Wish it wasn’t the case, but it is…
January 4, 2008 — 11:26 am
Brian Brady says:
“Here in Maine we press 7 digits for in state and 10 for out of state”
What the hell is wrong with me? Of course it’s ten digits, thanks; I’ll be updated the post.
January 4, 2008 — 11:38 am
Jeff Turner says:
Brian… I left my comment on your voicemail.
January 4, 2008 — 3:50 pm
Brian Brady says:
Thanks, Jeff. You and Eric made my day.
January 4, 2008 — 4:05 pm
Eric Blackwell says:
Funny you should mention that, Jeff. I have been playing phone tag with Brian as well!! (grin)
UPDATE: Just spent several VERY worthwhile minutes chatting with Brian. First time. It was fun and profitable to share some ideas and talk shop.
Brian-thanks for practicing what you preach. Have a successful time at Imnan BTW.
Best
Eric
January 4, 2008 — 4:47 pm
Brian Brady says:
“Also, he has not returned phone calls from others that have tried to contact him outside the realm of who I just listed.”
Todd Kaufmann has a problem. This post is to remind us all not to suffer from that problem (when we deal with ciustomers).
And “this mess” seems to be justified.
January 4, 2008 — 5:01 pm
Jeff Brown says:
First, sorry to be late to the party. I plead a full plate — like you folks are all laying around at the beach, right? 🙂
At least once or twice monthly I’m able to reply to a ‘contact form’ from my blog within seconds of receiving it. Almost always leaving a number for them to call, the phone will ring.
‘This is Jeff’ is followed by, ‘I can’t believe you responded so quickly’ and we’re off to the races. What was true my first day in the office back in October of ’69 is true today. Nothing replaces a live voice — nothing.
January 4, 2008 — 9:18 pm
Tony Gallegos says:
Brian – Purely masterful post. I’d like to add one more tip, pick-up the phone and set up a face-to-face meeting if you are gepgraphically close.
January 4, 2008 — 10:09 pm
Chris Lengquist says:
Brian – Words well heeded. I’ve built some really great relationships over the last year by picking up the phone. Sorry I haven’t been as good with you. 🙂
January 4, 2008 — 10:10 pm
Jillayne Schlicke says:
Excellent article, Brian!
January 5, 2008 — 1:11 pm
Brian Brady says:
“When I respond that I would like to follow up by phone and ask for either their number or propose that they call me, they pretty much disappear. Okay, I’m naive. I don’t understand why anyone would waste their time and mine. But at least this is as far as they get. Can’t visit with me voice-to-voice? We probably can’t help each other.”
Elaine, you hit the nail on the head with that comment. Here’s why: some people don’t like the idea that you might “sell” them on the phone. Some prefer the anonymity of e-mail.
It’s your business; run it the way that is most effective for you. For me, it’s on the telephone. I’ve had over 1500 inquiries, in the past 2 years, from my online presence; most scurry away when I request a phone conversation.
I could:
a- add their e-mails to my mailing list but that would be futile.
b- continue an e-mail conversation but that would be a poor use of my time
c- weed them out with the phone request.
I choose c.
January 5, 2008 — 1:18 pm
Robert Kerr says:
When attacked, on my home weblog, I offered a three-way call, to explain my math.
I followed the link. The math is standard WACC. Kudos, Brian, for educating your readers about WACC, what it means and why it’s important to home buyers and refinance.
Here’s more standard math, from any Econ 101 textbook: The real cost of buying a home is the mortgage rate less the appreciation.
In a 4%-5% down market, like this one, that 6% mortgage turns into a 10-11% cost of buying.
Shouldn’t you also be educating your readers about the real costs to buy in a this market? Isn’t it in their best interests to know this?
January 5, 2008 — 1:40 pm
Brian Brady says:
“Shouldn’t you also be educating your readers about the real costs to buy in a this market? Isn’t it in their best interests to know this?”
Good idea. Robert. Now, how can I figure in the utilitarian value a home provides? Should I add back in market rents?
If the average hold time is 5-7 years, wouldn’t a 4-5% annual price deflation be unrealistic?
January 5, 2008 — 10:55 pm
Late Night Austin Real Estate Blog says:
I have been reading about this whole Tood issue around the net. It all could have been resolved with a simple phone call. Todd could have given his view on the issue and it might have resulted in an updated blog instead of a large amount of bad press for him and his office. I agree there are alot of people that want to email back and forth forever. And in the end they “have a brother thats a realtor” but really want to keep talking because “you have better advice” getting on the phone helps to weed these people out because you can ask questions and figure out the situation.
January 11, 2008 — 2:18 am
Damon says:
If you haven’t already, I would read the book “Social Intelligence: The New Science of Human Relationships” by Daniel Goleman. From the onset, it talks about how these new communication technologies (email, IM, social networking) all appear to be bringing people closer together, but they are actually creating more of a distance because people have less “face-to-face” encounters. People need to have that actual touch of another to be connected to one another.
January 18, 2008 — 8:37 am
Jay Valento says:
I find that when the internet consumer calls, someone needs to answer their call or they will not leave a message. They want service and answers as quickly as possible…most within 30 minutes or less.
March 10, 2008 — 6:16 pm
Sue says:
I pick up the phone and call when they leave a number, many times they are “just browsing”. If not, I push towards scheduling an appointment with the understanding that I will forward emails between now and then. That is if they seem serious of course. Weeding out those that are serious is challenging. I do usually add everyone to a drip campaign. I understand exactly what Elaine is experiencing as its happened to me many times.
July 2, 2008 — 6:42 pm