Jack Thursday – Why Concierge Data Will Change your Life (LA 1517)
Jack Thursday – Why Concierge Data Will Change your Life (LA 1517)
Transcript:
Steven Butala:
Steve and Jill here.
Jill DeWit:
Hello.
Steven Butala:
Welcome to the Land Academy Show, entertaining land investment talk. I’m Steven Jack Butala.
Jill DeWit:
And, I’m Jill Dewitt, broadcasting from darn near perfect Paradise Valley, Arizona.
Steven Butala:
Today is Jack Thursday, and I talk about why our product, Concierge Data, could change your life.
Jill DeWit:
It’s changing my life.
Steven Butala:
I am your concierge data, by the way.
Jill DeWit:
Exactly. You have changed my life.
Steven Butala:
Before we get into it, let’s take a question posted by one of our members on the landinvestors.com online community. It’s free.
Jill DeWit:
This is coming from mutual and consensual.
Steven Butala:
From yesterday.
Jill DeWit:
Yeah. Okay, Billy wrote, I am wondering if anyone has things to look out for in the Texas market.
Steven Butala:
This is a wonderful brief question.
Jill DeWit:
I like it.
Steven Butala:
Texas is an awesome place to buy and sell land, has always been, and probably always will be. It’s a great place to do minor splits. It’s a great place to have the freedom to, once you buy the property, to do stuff to it. So Texas has great-
Jill DeWit:
Even houses, for houses there, too.
Steven Butala:
Yeah, for house academy, too. There’s a reason it’s like number three moving-toward destination in the country. I’ll tell you. There’s a couple of things to look out for. The south western part of Texas on the border, Culbertson County and Hudspeth County specifically, there’s a lot of property there and how it got subdivided. No one knows where it is, including the people at the county. And, the terrain itself is pretty awful. It’s kind of like being on the moon, like certain places in Arizona. And, it’s dry and it’s barren.
Jill DeWit:
No one’s going to bother you out there, that’s for sure.
Steven Butala:
So, it’s the kind of terrain that’s in a lot of cowboy movies, that’s where they die, because there’s no water and they just can’t get anywhere.
Jill DeWit:
That’s as far as they got.
Steven Butala:
But the real problem is not that. The problem is that knowing they got subdivided so quickly and incorrectly, and probably with some not legally, that no one knows where the property is. It’s very difficult to find. Outside of that, on Thursday when Jill and I do the Thursday Would You Do This Deal call, where members give us all these deals and ask us, “Would you do this deal?” Texas is-
Jill DeWit:
It doesn’t come up at all.
Steven Butala:
… strangely constantly absent, which there’s 244 counties in Texas, the largest number of counties in a state. And it just, I have a feeling that we have some quiet members that are just burning it up there.
Jill DeWit:
That’s true. And they’re not talking about it.
Steven Butala:
In Texas fashion. I respect that.
Jill DeWit:
I agree, but there’s a lot of great opportunity. An hour outside of Dallas, an hour outside of Houston, Austin, San Antonio, just outside those places, because there’s so much going on.
Steven Butala:
Every deal I’ve ever done in Texas worked out great. Today’s topic, it’s Jack Thursday. Why concierge data will change your life? This is the meat of the show.
Jill DeWit:
Can you please explain what this is?
Steven Butala:
We are soon going to release a product called Concierge Data, that was at the dramatic request of our membership.
Jill DeWit:
By the time this airs, I think it’s out.
Steven Butala:
Yes. It’s a product that falls under offers to owners. And this is what it is. If you, for whatever reason, can’t get an offer campaign out as a member or you haven’t joined Land Academy because you’re a Jill, but you don’t really… You’re just afraid to do a mailer, which I get, because I’m afraid of talking on the phone. This solves that. What it does is you can actually fill out a form, a real simple form on Offers2Owners and say, “I did some research and the properties that are two and a half to five acres in XYZ county of Texas, I’d like to send out a mailer there.” And then hit the enter button on your computer-
Jill DeWit:
And then need help basically.
Steven Butala:
And we’ll do the whole thing for you. And we’ll communicate back and forth and we will take the ball to the five yard line with you on the mailer.
Steven Butala:
So it’s completely done and accurate and all of it, but you need to price it. And so, and you can tell the concierge per… The person who does the mailer at O2O, “Hey, I want to offer 25% across the board on this zip code, 32% on this zip code, or if it’s a whole, and it gets you in the business. That’s what it’s designed to do. To get your phone ringing. This is what I’ve done for Jill. You’ve heard her say this for years. “Jack gets my phone rang, and then I take it from there.” So if you’re that kind of person, Concierge Data will get your phone ringing and get some deals in front of you and get the train moving.
Jill DeWit:
If you’ve been with us for a while, you may remember a long time ago, we had a full price or what was it called? A full service that we would just pull the data. This takes it way beyond that. So full service was just like, “Hey, a way to get some data. We’ll pull it for you and give it to you.” No big deal. You don’t have to go get a subscription. Maybe you’re new and you’re not ready to jump right in yet. But, you want to send out some mail and get some stuff going. Get it, because once you… Or, and so what this does is two parts. One is it solves that. So if you’re new, you’re thinking about this, you know where you want to mail like, “Hey, I’m buying houses right now, all over Houston.”
Jill DeWit:
Wow. That means that I can send these guys, tell them what I want. I want every three bedroom, two bath, no pool, these parameters. You could do with land or houses and you guys will pull it. And then when I have it, I can look it all over and then I can tell you how I want it scrubbed. And I can tell you how I want it priced. And then when I want it to go. Yep. And get it in the mail. Yep. And what I want my letter look like. Yep. You can do the whole thing. So, it takes it to that level. Now, the other thing is like Jack just said, maybe you are a member and this part scares you. This is the part you’re like, “This is the stuff I suck at. I could go learn Excel. I could go do this. I know you guys just did this great new video,” I don’t know if it’s out yet, “really helping me holding my hand with DataTree. I still don’t want to do it.
Steven Butala:
It should be out.
Jill DeWit:
So there you go.
Steven Butala:
And on this notion of pricing, I’ll start with land and then cover houses at the end. The way that we price mailers now is as follows. We look at, if the data’s available, we look at what the retail price is per acre in a zip code. So if you choose the zip code and we scrape the data off of Zillow or wherever is appropriate to get the data. And if we find out that the retail value for active and sold property is $5,000 an acre, you’ll see that in there. And so you can choose, you can say… This is what I mean by bringing it to the five yard line. It’s not that you’re going to have to guess. If it’s $5,000 an acre and we’ve determined that, and the mailer comes back to you and we say, “How do you want to price it?”
Steven Butala:
You can say, “I want to offer $2,000 an acre.” You don’t have to even do it. You just tell us that, and we’ll do it for you and get the mailer out.
Jill DeWit:
That’s really cool.
Steven Butala:
Now, with houses, what we do is we take the average of all, the Zestimate, the Truly a Value, the DataTree value. There’s like five or six of them in there, the Realty Track value, and we average those out, by every single asset line. So if you have a thousand houses that you want to send offers to, let’s say, every line in that data will have an average of those six numbers. So, it’ll average out to, let’s say for sake of argument, $162,352, and you’ll get that data back from us. Then you just tell us, “Hey, I want to offer $25,000 less across the board for all these houses.”
Steven Butala:
That’s all you have to do, is tell us. And we’ll do it and get it in the mail for you. It’s pretty cool.
Jill DeWit:
It is really cool.
Steven Butala:
I’ll tell you this came up because… This whole product came up because the person that does our mailers, that does our data, my data, I get it back in that form. And I tell him, “Yep. I want to do 25% in this zip code, 32% in this zip code,” and on and on and on. And with houses, I say, Mark it down $80,000 across the board. That’s how we came up with this. It’s like, wow, we could be doing this for everybody.
Jill DeWit:
Yeah. And it’s because too, we know a lot of people, this is a hangup for them. So we want to solve that. That’s why O2O exists. That’s why Parcel Fact and Neighbor Scoop exist. We want to solve these problems for you, so you can be doing deals.
Steven Butala:
I talk about that in this most recent video, about DataTree and how to price mailers and use it. And, I’ve said this, and I’ll say it again. If you go back to watch the cashflow from land program, if you’re a member, which I did the original program that kicked all this off in 2015, I don’t talk about Parcel Fact or Neighbor Scoop, or Offers 2 Owners or anything like that because they didn’t exist. We launched the program. People consumed that information and then said, “Well, that’s great, but where do I go to get my mailer done?”
Jill DeWit:
Right.
Steven Butala:
That’s great, and when we launched that, we didn’t even have a licensing agreement with RealQuest, I don’t think.
Jill DeWit:
No. I would tell people, they’re like, “Where are you getting this?” I’m like, “Okay, here’s who you could talk to,” or I used to say, “Call this guy, tell him who you are, so he’ll know exactly what you need. You want the nationwide coverage. You want this, this and this.” And they would all go do it. And it was like, finally we realized, all right, we got about a hundred people now that are all doing one-off. And I think they even said to us too, like, “Can we work out a package deal.” I’m like, “You know what? I bet there is a package deal.” So we became licensed providers to bring the cost way down for all of us.
Steven Butala:
Here’s my final point. If you’re using a pricing product out there-
Jill DeWit:
Yes.
Steven Butala:
… this replaces that.
Jill DeWit:
Yes.
Steven Butala:
This is a way, way, better way to price mailers. Pricing products, there’s no pricing product that’s going to automate this-
Jill DeWit:
Correct.
Steven Butala:
… that’s worth it. I said this before. I’ll say it again.
Jill DeWit:
We’ve looked at them all. Trust us.
Steven Butala:
Well, I spent $200,000 to go down the path of creating the Land Academy auto pricing product. And, at the end, I said, “This is not accurate. The data is not coming out accurately.” This is my answer. My answer is to do your entire mailer, entirely and completely right up to the finish line. And then you decide about what price to do it, because that’s what you do on those pricing products, anyway. They don’t… It doesn’t automatically price it. It puts some arbitrary number in there-
Jill DeWit:
That’s true.
Steven Butala:
… like 20 or 25% of the values that the computer comes up with. But there’s so many ways that that can be wrong.
Jill DeWit:
Well, not only that, I heard that there’s sometimes some of the services, the data’s not fresh. It’s not immediate. And that scares me, too.
Steven Butala:
Right.
Jill DeWit:
How old is this data and how old are the seller information? There’s a lot of-
Steven Butala:
Exactly.
Jill DeWit:
So, we got ya. Happy you could join us today. Five days a week you can find us right here on the Land Academy Show.
Steven Butala:
Tomorrow, the episode on the Land Academy Show, well, it’s Jill Friday. And she talks about how we failed at hiring. You are not alone in your real estate ambition.
Jill DeWit:
We’ve covered that, but we’ll go a little bit deeper. And, in our efforts to save you, that’s really what this is all about.
Steven Butala:
Our marketing people want to drive this point home this week, apparently.
Jill DeWit:
Yeah, I guess they do. It’s kind of funny. They’re like, it’s not us.
Steven Butala:
We didn’t write these topics today. Jill and I are just the talent now.
Jill DeWit:
Our staff’s like we made the cut. You need to talk more about this. It should be painful because you guys screwed up. Do you need to send out a few thousand offers to property owners like us. Check out offers2owners.com. It’s offers, and the number two and owners.com. No setup fees, free mail-merge and exceptional service. We should know as it is our company. So give Offers2Owners a call today.
Steve and Jill:
We are Steve and Jill.
Steven Butala:
Information-
Jill DeWit:
And inspiration-
Steven Butala:
To buy undervalued property.
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