The next question will be answered in 20 seconds by our host, Marko Rubel, a self-made millionaire who bought and sold over 300 properties. He is one of the foremost experts in front of the National Real Estate Investors Association representing 40,000 investors nationwide. He is listed in the prestigious Who’s Who and well-known in the business world. Here is the next question from our listener.
Toll Free Numbers vs Local Numbers for Business
Mike: I represent Jamie. I’m asking in your phone system that you have on handling buyers and sellers, they’re asking, “How many phone numbers should we have for this business?” And please talk about the local phone number and the toll free numbers and where they should be used regarding the website, the business cards, and the mailing piece.
Marko Rubel: Basically, guys, when you come to the phone numbers in advertising, again I always say, keep it simple. Don’t get too many numbers, that is too confusing. Get one number and that’s your advertising number and then you have another direct number that comes to you so you can talk with them. Direct numbers don’t go in your advertising, they only go on your business card and it can go in your letterhead and that’s what you give people when you meet with them.
You’ve got to run the business as a business, right? Your letterheads, that obviously you have all branded, they’re the same as the website. Everything is branded, the report and everything. The letterhead could have a direct line, because at that point, who’s going to get this? Someone who already spoke with you, right? Someone you know sending the special report after you talked with them, so it’s okay to put a direct phone number.
Now, if you have your letterhead already done and there is only advertising an number, then no problem. Just make sure you go into the software, into ProfitGrabber, and at the bottom of that cover page just under your signature, just add your direct number and you fix it, no problem, and then you print it on the letterhead. So that’s not a problem.
Advertising and Toll Free Numbers
The advertising number– Is your advertising number a toll free number or a local number? It depends on one thing. If in your targeted area, your area of interest, your geographical area, if you have multiple area codes, and if there’s a long distance charge between one area code and another area code, then you may be better off getting a toll free number. But, if you have only one area code or there’s no long distance charge when you call and everybody’s pretty familiar with all the area codes, then you may as well go with a local number.
I would probably prefer a local number just because we are a nationwide business, but you are local there, so people like that. The other reason why I’m saying that is the toll free number, if it’s not 8-0-0, but it’s 8-7-7, 8-6-6 and all of that, I prefer 8-0-0. It’s worth paying a little bit extra for something that important as the numbers for your sellers.
As I said, if you’re going with a local number you have another benefit that you could get a vanity number that ends with 3-2-7-9 that spells out “easy,” 2-2-7-4 spells out “cash.” The one I really like is “sold,” that spells out “sold.” I forgot what it is, 7-6-5-3 I think it is, that spells “sold.”
All mine; buying once, end with “sold.” All of my selling ones for the buyers end with “easy,” “fast,” things like that. So that would be my take on the advertising numbers.
We can move to the next question Mike, right?
Mike: Yes and the only comment I’d make on that is that’s for our client side and then obviously once we have properties and we’re looking to sell the properties, then you will have another number to advertise for properties that you are selling.
Never Combine Your Buying and Selling Number
Marko Rubel: Very great point Mike. You never combine. As I said a million times, you never combine your selling number and your buying number. You never combine them because your buyers, your tenants, your lease-option buyers, your wrap buyers, they have no business of knowing who is the owner. You don’t need to tell them you’re the owner because if you do that, then it puts you into a not very good negotiation position. Then they’re going to ask you for concessions and for everything.
You shouldn’t lie, you never lie, but you say, “I have ownership interest.” That’s it, that’s what I say and most of them don’t ask. Most of them don’t even ask, “Are you the owner or not?” But if they ask, “I have some ownership interest.” That’s it because you really don’t want your sellers to know how you are doing all this. You don’t need your buyers to know. Keep it separate. It’s your business. It’s none of their business. Why would everybody need to know what you do, right?
So if it’s separated it’s better because for the buyers– People think like this, “Oh he just bought it, let me look up what he paid for. Oh now he’s selling it. Oh you are selling it for a lot more, why is that?” They start asking those questions they have no business of asking.
I am the property management company. We’re just selling this on a lease option, this is the price, this is it. “Oh, but the owner just bought it.” All what we know, it’s a fair price. You’re getting a great deal and if you don’t want it, someone else is going to take it. If you like the house, you jump in. That avoids all the conversation about how you bought it, how much you paid for it, or any of that that’s none of their business. Make sense, guys? I’m right, right?
Mike: Yes absolutely, absolutely.
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