Wholesale Closers vs NFL Quarterbacks

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Closed deals in all 50 states
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​125 contracts in 50 days (all live on YouTube)
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Episode Transcript

SPEAKER_00 (00:06):
One of the things that just cracks me up is when
someone that's not inside ofTitanium University watching one
of my YouTube videos or onFacebook will just ask me a very
generic broad question like,what should my KPIs be if I'm
using speed lead or propertyleads or lead solo?

(00:28):
How many leads do I need to buyin order to get a contract?
What should my closingpercentage be, RJ?
Now listen, I will admit I am anumbers guy.
I love stats.
I love KPIs.
So much so that even on my son'stravel hockey team, every single

(00:50):
game for the past two seasons, Itravel with an iPad and I
purchase an app called i TrackHockey Stats, and I keep track
of every face-off, win and loss,shots taken, goals, assists,
plus minus penalty minutes,goalie save percentage, goals

(01:11):
against average.
I track all of that for my son'shockey team.
I love stats and they matter.
But when you are new atsomething, you have to give
yourself a little bit of gracebefore you start holding
yourself accountable to what theindustry standards are.

(01:32):
Now, using the sports analogy,we're not going to go the hockey
route today.
We're going to go to my originallove.
What I wanted to be growing up,a football coach.
We're going to use a footballanalogy.
Closers are like thequarterback.
The team relies on you.
Without a solid quarterback,majority of football teams

(01:53):
struggle.
And it's the same thing insideof a wholesale operation.
However, one thing that you needto understand is that you are
immediately entering the bigleagues.
You're entering the NFL.
You're competing against peoplethat have been doing this for
many, many years, myselfincluded, our other competition.

(02:18):
See, when we look at an NFLquarterback, when they get
drafted, what you have to knowis they did pop Warner, they did
high school, junior high,college, and now they're in the
NFL and they're held to astandard.
The NFL average completionpercentage is 65%.

(02:39):
So 65% of the passes that theyattempt are completed.
But then you look at theprevious year's number one draft
picks, Bryce Young for theCarolina Panthers and Caleb
Williams for the Chicago Bears,and you look at what their
completion percentage was.
As the number one overall draftpick, they struggled in

(03:02):
comparison to the NFL average.
Bryce Young in his first yearhad a 59% completion percentage.
Caleb Williams has a careercompletion percentage of 62%.
He's not up to the leagueaverage.
He's not even one of the leagueleaders.
He's not even to the averageyet.

(03:23):
Yet they were picked number oneoverall.
Now, this year, we're startingto see a turnaround by these
quarterbacks.
They're starting to lead theirteams to more victories.
In fact, Bryce Young has now ledhis team to three consecutive
victories, and Caleb Williamshas led his the Chicago Bears to
four consecutive victories.

(03:43):
But they were given grace overthe past several years to get up
to the level where now they'restarting to see results.
And they're now going to be heldto a higher standard as they've
gained reps and experience.
But we don't do that aswholesalers.
See, we come in and it's like,all right, RJ, how many property

(04:04):
leads do you need to close thedeal?
And I say 10.
You go buy 10 leads and youdon't close the deal, and you
don't believe it works.
Well, it's for many differentthings.
One, it's probably a skill setissue on closing.
You haven't built up those repsand you haven't built up the
skills that I've built over thepast decade of doing this.

(04:25):
You're comparing yourself to thewrong thing.
See, early on, it needs to bemore about can I have a quality
conversation with a seller?
Can I determine the price andthe motivation?
Can I carry on that conversationwhere I truly understand the
layers of why someone would bemotivated to sell a piece of

(04:46):
real estate for a discount?
Can I comp and underwrite thisdeal correctly?
If you could do that, eventuallyyou'll get to a point where
you're actually making offersand sending out contracts.
Then you have to get to thepoint where you can get good
enough to actually get a sellerto sign that contract.
These are the layers of growththat you will experience as a

(05:09):
newer wholesaler.
And then you're going to get tothe point where you get
properties under contract.
Now there's a whole new wave ofissues that you have to resolve.
Recon, dispositions, transactioncoordination issues, sellers
trying to back out the lastminute, competition coming in
and offering the seller more andtrying to steal the deal from

(05:29):
you.
All of these types of issuescome up, and you're holding
yourself to a standard ofsomeone that's been doing this
for a decade that has hundreds,if not thousands, of leads
sitting inside their CRM.
You're not comparing apples toapples, you're not there yet.
So when you're newer, understandthat you're all you're the

(05:52):
quarterback all the way back inthe Pop Warner days.
You're a baby.
It's going to take time for youto graduate to get up to where
you can hold yourself to thesame KPIs that an experienced
wholesaler is currently runninginside their business.
This is where you knowcomparison is the thief of joy,

(06:14):
right?
You're on social media rightnow, you're watching a YouTube
video, and you want to know theanswers.
How many leads, how manyconversations do I need to have,
RJ, in order for me to be ableto close the deal?
That really is not going todepend on the lead.
It's going to depend on yourskill set and your growth

(06:36):
pattern as a wholesaler.
Your ability to truly analyzewhat went well during the
conversation and what needs tobe resolved and fixed for the
better for the nextconversation.
That is how you're going togrow.
Now, this is why inside ofTitanium University, we are
constantly having theseconversations about how to be

(06:59):
better on the phone withsellers.
Why we're doing live seller callreviews.
In fact, today's YouTube topiccame from our implementation
call this morning.
A newer member was asking.
He sent out two contracts.
One got signed, one hasn't gotsigned.
And his question was what are mymetrics that I need to be

(07:22):
holding myself accountable to?
What are the KPIs that I need tobe paying attention to?
I said, You're not at the levelyet for KPIs.
You need to be focusing onwinning the next conversation,
trying to get a contract acrossthe finish line.
We can't sit here and holdourselves accountable to getting

(07:42):
a signed contract each and everyday.
We're not at that point yet.
You haven't developed the systemand the process yet to be at the
level to even track KPI.
You don't have enough volume inyour business for KPIs to even
matter yet.
Now I'm not saying they're notimportant.
They are, like I said, I'm anumbers guy, I'm a stats guy, I

(08:03):
love to see these.
But the issue is people don'twant to give themselves enough
time to grow as an individualand as an entrepreneur.
So if right now you areexperiencing like a loss of
energy or motivation inside yourbusiness because you've heard me

(08:26):
say one out of 10, or maybeyou're on Speed the Leads Coupon
Club, one out of 25.
You don't have to hold yourselfto that standard.
Those metrics right there are aridiculously low average cost
per contract industry-wide.
So if you're anywhere remotelyclose to that, and by remotely,

(08:48):
you can be four times as high asthat, and you're still going to
be running at a much loweraverage cost per contract than
the majority of your competitionin the industry.
You need to be more focused oncan I get deals across the
finish line, get thosevictories, have a moral boost,

(09:09):
and don't sit there anddemoralize yourself because
you're not at one out of 10 or 1out of 25.
Even property leads, the leadprovider says if you buy our
nationwide cheapest$30 leads,you should be aiming to close
one out of 100.
Now, personally, I believe thereyou should be better than that

(09:33):
over the course of time.
Developing your skill sets,truly developing your processes,
right?
Having your systems go out withdrip campaigns and follow-ups
and reigniting conversations.
That takes time.
So relax.
It's going to be okay.
If you're just getting started,if you're less than a year in,

(09:55):
the KPIs and you hitting certainmetrics will come your way, but
you don't have to hold yourselfto such a strict standard right
out of the gates.
Get victories, and I promiseyou, eventually you'll get to
the point where you're hittingthat league-wide average,
whatever it is.
And also, since we're on the NFL65% completion rate, guys, if

(10:21):
you can close one out of 10,that's 10%.
It's a very low metric to hit.
So enjoy the process, enjoy theride.
If you fall in love with theprocess and not the results,
that's where you'll you willreceive more results in the long
run.
All right, let me know what youguys think in the comments.

(10:41):
Show me some love.
Like today's video, and we'llsee you guys tomorrow.