Streamline Your Document Workflow with Sales Funnels for Real Estate for Life Sciences

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so here's the deal i want to talk about funnels real quick because funnels are so vital to every aspect of a real estate investor's life uh any business owner like everything comes down to funnels you probably heard me say on the podcast funnels funnels funnels funnels um i want to talk about how funnels work a little bit just for a minute and explain how powerful they are and how tweaking funnels can give you so many more deals all right so when i say funnel what i'm talking about is it's like a funnel right it's wide at the top and it gets lower as you go down and so at the top you might have you know a thousand properties for sale in your area and out of those that are for sale let's say on the mls the multiple listing service like listed on market out of those thousand properties you may have a hundred that are like they meet your criteria they're what you want like you're gonna go and analyze them you're gonna run the numbers on them so out of those hundred that meet that criteria you go and run the numbers on those hundred over the course of several months let's say i'm not saying do this in an afternoon out of those 100 and out of them let's say most of them are so far off from what you'd want that only 10 of them are really like legit like they're like clothes you think you could actually buy them uh potentially and so you might make 10 offers that out of those 10 offers you let's just say get one accepted you get one deal accepted now you had a thousand options we narrowed down to just one that you bought now if that one makes you a thousand bucks a month in cash flow i mean or 500 or 2 000 whatever your number is like that's amazing right and so this whole thing is the process now let me explain the idea of tweaking a funnel so the idea is if you can improve every layer of the funnel you can get more deals with less work let me explain what i mean notice here let's just forget the thousand the thousand mark right here let's call it from the hundred down so there's a hundred properties that meet your criteria you're gonna go analyze a hundred properties uh and that's fine and out of those you're going to make an offer on 10 of them let's just say but what if instead of 10 this is 10 what if you actually made an offer on 30 of all the properties you analyze now in order to do that you're going to need to get better leads you need to get better leads and so maybe you change how you get leads maybe instead of realtor.com or having an agent maybe you do direct mail marketing and you get a hundred really good leads that meet your criteria perfectly and so now you have a lot more so now out of 100 hot leads 30 of them let's say you're gonna actually make an offer on you're gonna make an offer on 30 of them now what if because you're really good at making an offer and you've learned all these these sneaky tricks and you maybe went off market so there's less competition what if instead of one out of ten offers accepted you're getting one out of five accepted so instead of one out of ten you're now getting 20 of your offers accepted well what's 20 of 30 deals you you offered on that's six properties so notice by by tweaking the the quality of our leads and by tweaking by getting better leads and then by making more offers on these better leads and then by being better at making offers and by having better leads to make offers on we've now affected all parts of the funnel and we've now improved it dramatically each layer and so for the same for the same amount of work we're getting six times more deals now if you find that helpful make sure you give that little thumbs up button below the video and tell me in the comments how you plan to utilize this funnel concept and tweaking funnels to better your business let me know in the comments below uh and of course follow me on instagram for more content like this beardy brandon on instagram for biggerpockets.com my name is brandon turner signing off you