How Rob's Team Uses Each Status To Manage Their Leads

If you go to the Workflow Automation page in Settings, you’ll see that Rob, the owner of FreedomSoft, has already built a Workflow for you called Rob’s Seller Lead Workflow.

     (The Workflow Automation video can be found HERE.)

 

Included in his workflow are the statuses that Rob has been using now for well over 15 years to buy and sell real estate.

 

Below are quick definitions for how his team uses each status so that you too can start to keep your leads just as organized as Rob does.

 

Organization and follow up are absolutely key components for all real estate investors and the Workflow Automation tool in FreedomSoft has been built to do both for you.

 

Rob has been tracking his closings now for about 20 years and two thirds or about 66% of the deals he has closed have all come from follow up.

 

Yes, the fortune is in the follow up and FreedomSoft automates all of it for you.

 

Here are Rob’s statuses and how his team uses them.

 

 

New - This is the default status given to all newly created records and leads.

 

Research In Process - This status means that either a automated or manual skip trace is in process. For a video no how the internal skip tracing inside FreedomSoft works, click HERE.

 

Research Complete – This status means the automated or manual skip trace has been completed and the records/leads are now ready for marketing.

 

Advanced Research Required – This status means the record or lead couldn’t be reached using the data from initial skip trace and so a more advanced skip trace or research process is required. Rob has a VA on his team perform these advanced researches where they’ll look for the individual or company name online using Google, social media and any other means available looking for contact information.

 

Advanced Research Complete – This status is used after the Advanced Research has been completed signifying the lead is ready to be contacted again using the newly found contact information.

 

Contact Attempt 1 – This status is used to signify the first contact attempt has been made to the lead record. This could be a phone based attempt or direct mail.

 

Contact Attempt 2 – This status is used to signify the second contact attempt has been made to the lead record. This could be a phone based attempt or direct mail.

 

Contact Attempt 3 - This status is used to signify the third contact attempt has been made to the lead record. This could be a phone based attempt or direct mail.

 

Cold Follow-Up – This status is used by Rob’s team when they have attempted to contact the record/lead 3 times but have not been able to reach them. The automated follow up messages tied to this status are designed to help you make initial contact with the potential seller. You can see the follow up messages by clicking on the little black triangle next to the status.

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Warm Follow-Up – This status is used by Rob’s team when they do contact the record/lead but that seller just isn’t ready to sell yet. Sometimes sellers will be on the fence about selling their property or maybe the timing just isn’t right at the current time. The automated follow up messages tied to this status are designed to help you stay in front of that potential seller until they are ready to sell. You can see the follow up messages by clicking on the little black triangle next to the status.

 

DO NOT CALL – This status can be used when a record/lead asks you to remove them from your list and not contact them again. Once this status has been saved to the record/lead, FreedomSoft will automatically mark every number tied to the record/lead as DNC and put them onto your internal Do Not Call list. Note – you can remove numbers from your internal DNC list by clicking on the Do Not Call tab on the Phone page in Settings and then clicking the X for that number.

 

ALL BAD NUMBERS – This status can be used when all of the numbers after a skip trace are found to be bad numbers for that particular record/lead. This status is

 

Active Lead – This status can be used when a lead has

 

Appointment Scheduled – This status can be used when you have an appointment scheduled with the potential seller. We also like to create a task for the appointment along with a reminder to make sure the call back or live meeting doesn’t get missed. You can schedule the Task simply by clicking on Tasks on the left side of the screen of any record/lead in your account.

 

Contract Sent – This status gets used when the contract has been sent and you are waiting for it to come back signed.

 

UNDER CONTRACT – This status gets used when the signed contract comes back and the deal is now Under Contract. When you save this status to the record/lead, FreedomSoft will ask if you’d like to convert the lead to the Properties tab. We recommend you say Yes so that you can keep your leads in the Leads tab and then your live deals in the Properties tab.

 

Property Inspection – This status gets used after a deal is under contract while you are awaiting the inspection to be done.

 

Renegotiate Contract – This status can be used after the inspection if you find the purchase price needs to be re-negotiated.

 

Open Escrow – This status can be used to remind you and your team that escrow is ready to be opened with the title company or closing attorney based on who your state uses to close real estate transactions.

 

Advertise - Sell – This status can be used to remind you and your team that the deal is ready to be sold to your buyers. If you are personally buying the deal, this status likely won’t be used.

 

SOLD - Waiting To Close – This status signifies the end buyer has been identified for a wholesale transaction and should be used when the contract is in place with the end buyer and earnest money received by the title company or closing attorney.

 

CLOSED – This status is used to signify the deal has been closed and should only be used when the money has hit your account. Saving this status will also trigger FreedomSoft to report the financial numbers of the deal in the Financials section to the Campaign tracking stats.

 

The Financials section can be found on the Lead Details page for each seller lead in your account.

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The campaign stats can be seen by clicking into any of your campaigns from the My Campaigns page in the Leads tab.

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Under Construction – This status can be used if you are personally doing a fix and flip project and signifies the property is now under construction after the purchase. If you are wholesaling you won’t be using this status.

 

Rehab Complete – This status can be used to show the renovation is now complete and the deal is ready to be sold. After the sale, you would then change the status to Closed.

 

DEAD – This status can be used for Dead leads. Rob’s team will use this status if/when the seller tells them the property was already sold or they’re just not interested in selling.

 

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