On today’s episode of The Real Estate Tech Show, we’re really focusing on one of the things we’re asked about most – What are the top tools that you use? What is the one tool that you can’t live without in real estate? Everyone is always shooting us emails or pulling us aside in meetings asking us what kind of tech we use and how we use it. We want to share with you not only the tech tools we’re using every day, but how you can basically life hack your way through these tools in order to get the best for your real estate business.We want to be able to determine the data where people are searching. Click To Tweet
Cory is sharing his top five favorite tech tools. He recommends these five to all the real estate investors he coaches and works with. If you don’t usually watch our videos, definitely tune in for this episode. Cory is sharing his screen and showing you how to use these tools in real time, and it’s going to be really beneficial if you’ve never used this technology or seen it in action. The five tools Cory breaks down for us today are:
- vFlyer: an amazing website for creating and sending out fliers for your properties
- GMass: an awesome plug-in to amp up your Gmail and emailing services
- CallRail: a fantastic tool for reporting
- Slybroadcast: an even better way to do phone trees
- House Price Robot: a tool to give you everything you need to know about pricing properties in your area
Technology is one of the easiest and most user-friendly ways to boost your profit margin. Beyond just keeping you connected to your team and your clients, these tech tools really give your brand an extra boost. You want to stand out from the rest of the investors, and Cory’s top five tech tools will really push you into a league above the rest of the guys. The whole purpose of this podcast is to share with you everything we do to be successful and make our jobs easier. Don’t forget to tune in next time for Joe McCall’s top five favorites!Investors tend to push the envelope with a lot of things anyway. Click To Tweet
1:09 You guys seen this C.K. Louis skit?
1:50 Cory’s favorite coffee
2:08 Why are we so excited about this tech?
3:26 Get our favorite tools right now
4:45 #1 Tool: vFlyer
6:36 How does Cory use vFlyer?
8:48 One of the limits of vFlyer
11:15 vFlyer pricing and how to get your money’s worth
13:20 Why is GMass Cory’s favorite emailing tool?
14:16 A breakdown of open rates and what they mean
15:51 One of the limits of GMass
16:45 What is CallRail?
17:52 Cory’s lifehack for CallRail
20:10 The biggest reason Joe and Cory use CallRail
20:59 How is Slybroadcast different from Slydial?
22:00 Anti-spamming tips for Slybroadcast
23:02 Joe’s favorite way to use Slybroadcast
24:00 How to use Slybroadcast like an investor
24:53 Rounding out Cory’s Top 5 is House Price Robot
26:36 How to use the search features on HPR
28:22 How to overcome comps when searching for house prices
29:10 All the different features of HPR
29:43 The main functionality of HPR
30:21 Why is Cory building House Price Robot?
32:04 Next episode Joe drops his favorite tech tools!
Get your Top 10 Toolkit!
C.K. Louis ‘The Miracle of Flight’
Joe: Hey guys! Welcome to the Real Estate Tech Show. I am Joe McCall, and I’m with Cory Boatright. How are you doing, Cory?Cory: What’s up, what’s up, Joe?
Joe: This is a show about technology, and here we are having technology problems with Skype. But the point is, listen, don’t keep bent out of shape. There’s this comedian that talks about it, and maybe I’ll include the video of what he’s…
Cory: Who’s the comedian? What’s the name?
Joe: G.K. Chesterton. What’s his name? G.K. Louis.
Cory: Oh. C.K. Louis. He’s hilarious.
Joe: He did one where, I think it was on David Letterman or the red-haired guy – about being on a plane and people complaining about technology. He’s like, “Dude, you’re 30,000ft in the air, in a tin box, on a chair. Stop your whining.”
Cory: Yup. He’s like, “I can’t get something to connect!” Oh! It took five seconds.
Joe: It’s going to space in a satellite and coming back.
Cory: That’s hilarious.
Joe: Just YouTube that, and you’ll find it. Listen, this is episode 4, Cory, and we’re going to interview you. I want to talk about your top five favorite tech tools and your favorite coffee. Is that the death by coffee, death by caffeine?
Cory: Death Wish coffee. It’s actually the strongest coffee on the planet. It’s what their tag line is. I’m excited about going through this because this is one of the things we get asked a lot. What are the top tools that you use? What is the one tool that you can’t live without in your business? What makes the needle move the most? It’s hard to come up with more than just five, but these five that we’re going to go over today are probably some of the most important ones. I’ll go through and talk about why they are, and a lot of them are very, very inexpensive. All of them in fact, I believe, are less than $100 a month, and some of them are totally free for the intro, if you just want to start using them for a free trial.
What’s exciting about this is one of our goals for starting this podcast is actually to interview some of the founders of these technologies and find out what they were thinking when they were creating it, and also finding out if they have other opportunities, where maybe they can offer special programs for users of – some promotion that we can work out with them. That’s neither here nor there right now, but that’s one of the goals that I’m excited about, when we bring some founders of the technology on the show.
Joe: Let’s talk about our website real quick. If you go to reitechshow.com, you could download our Top 10 Favorite Toolkits. It’s a toolkit of our top 10 favorite tools, and you’ll get a little PDF of those tools and some little videos – maybe that we’ll throw into that. If you want that, go to reitechshow.com and/or text the word “TECH” to 38470. Text the word “TECH” to 38470, and we’ll get that on over to you.
Cory, let’s just dive right into this. We’ll go through this as fast as we can, but I’m going to share your screen and I’ll change the recording to your screen. If Skype crashes on us again, that’s fine. We’ll pause the recording and restart it back up again.
Cory: That’s the way it works. Alright, sounds good. I’m gonna share my screen.
Joe, we’re going to talk about yours next week, I believe. I want to talk about first is a really cool tool that my partners actually told me about. I’ve used this company called vFlyer in the past, but I wasn’t aware of some of the functionalities that they added to this technology. It’s pretty cool. If you go over to vflyer.com thinking, “What’s so great about vFlyer, Cory?” What’s powerful about it is there’s a syndication option in it. On some of these tutorials here, I’m not going to go into all of our accounts on all them, but I’ll go ahead and show you if one of these flyers – if I can go and log in, so you can see.
You can create a flyer of a property that you have available for sale. If you see right here, you have a little – it’s called a WYSIWYG Editor. It’s actually a mini WYSIWYG Editor, meaning that you can have markup with bold or italic or underline. It’s not just a text editor only. If you scroll down, these over here are actually called anchor links, so if you click on one of these, it’s going to move it down to where that section is. If I wanted to go down here to where I want to add a video, I can simply do that here. I can add links here.
What’s really cool about vFlyer is that whenever you advertise a property that you have – a great property for sale – there are different places that you can advertise that for free all over the web. vFlyer allows you to do something called syndication. I don’t know if you’re familiar with that term, but what it basically means is you can post one time to one location and it goes out to multiple locations and multiple sources.
For example, one of the primary reasons that I use vFlyer – and again, I want to give the credit over to Luke and Shawn, my partners on Speedy here in greater OKC area. They were using this, but they weren’t maximizing these capabilities. I’ll show you what you can do with it beyond normal things that most people use it for. But I use it primarily for syndication.
You can go over here, and you can add different places here – Backpage, Trovit, eBay Classifieds, Oodle, Yahoo, Zillow, Geebo – others, which is several others. I don’t know exactly which ones it is, but it’s over 20. I do know that. HotPads, OLX, Pennysaver, and Zillow.
If you’re an agent and you click on Trulia right here, you can go ahead and post this and syndicate on Trulia. But if you’re not an agent – I’m not an agent myself. I have some people on my team that are agents. Whenever you click this Trulia option, you’re going to have to add in your MLS information. If I scroll up here to the top, there’s this section here called MLS Number and Broker. Joe, if I use that Trulia option, I’ve got to add that information here, otherwise it won’t let me post. Does that make sense?
Joe: Yeah. Don’t tell anybody this, Cory – just between you and me. Back seven years ago when I used to use Trulia and I wasn’t licensed, I would actually put in a N/A for broker and N/A for MLS number. It actually took it. It worked. It would still send it out to Trulia.
Cory: Don’t do that. That’s pretty cool, like a hack there. This is a great tool to use, and it’s really inexpensive. I think we paid less than $30-$40 a month for vFlyer. It lets you have, I think it’s 25 or 30 vFlyers at one time, and then once one is sold, you can just simply go ahead and flag it as sold. Then you can add another one.
I highly, highly recommend that you use vFlyer, not only for selling properties like you see right here, but what you can also do is – and I’m not trying to go into all of the functionalities you can do with this, but you can actually email out or even text message out to a buyers list on here. We have several thousand buyers, so this only limits you to a hundred, Joe. Maybe this could be your VIP buyers list – so people that have bought more than one property from you, you could use that here.
The good thing about using this email and SMS option is that it is very fast. Everybody will get it. You won’t have any challenge of delivery because not many people utilize it. The more people that use that tool, the less opportunity that there is for that to actually be delivered unfortunately. But here is where you can see email and SMS; you can have these different options right here if you wanted to.
Alright, this is for the flyer section on vFlyer. What they also have a website section. You’re thinking, “Wow, okay. With all these different websites out there, why would you use vFlyer?” The reason I use vFlyer is because they spend so much money on SEO. SEO is such a big deal – stands for Search Engine Optimization. You can actually build out your website on vFlyer. What else you can do – if I go here to House Kings, one of our top sites, and you can see the whole site is built inside of the vFlyer – on the vFlyer platform. You see it right here.
Here’s another thing too. Look at how we have this set up. Right here, if I go into House Kings, Joe, you see that I’ve got my search engine optimization set up properly. Here’s what I mean by that. You can see all the different cities that have each one of the opportunities for them to work with us. If you click on one of these cities right here, it’s going to go to that section on our vFlyer. Again, this was pre-setup with vFlyer. They already spent so much money on SEO, that it makes this site look really, really good. Can you see that, Joe?
Joe: Yeah, looks good. You were saying, it organizes really nicely in Google. We’re seeing that right there.
Cory: That’s right. It’s great. If I go here to the main site, what you want to find is you want to be able to have a fast way for someone to get in touch with you. This is the fastest way. I highly recommend that you only have a few questions from the beginning on how someone can get in touch with you, and this little form on the front here is great. But on the bottom, you see, down here, these links are actually hyperlinked in their SEO. Now, we’re getting SEO juice or love from some of these other links down here, which also stay right on our website. We have right here our sellers. When they go here, they can click this link, and it goes right to our Podio, Joe, which I think you’re going to talk about next week on your favorite tools.
It’s just a great, fantastic tool. Right here, if you want to see our properties, you actually have to sign up. This is powerful too. This is where people that are interested in seeing our properties for sale – they actually have to sign up, and we can build our buyers list from here. And then you got our testimonies over here. You can actually add a video. We’ve had many people click on this and watched this video. I highly recommend vFlyer not just for creating flyers so you can sell properties but also for creating a website that is pretty easy for you to manipulate, edit, and have a great search engine right out the gate.
Joe: Yeah, vFlyer’s good. I’ve used it a lot in the past.
Cory: Okay, moving on. I did want to show the pricing really quickly. Again, vFlyer pricing is super inexpensive. You can go right here, and you can see. I think they have options. It’s less than $50 a month.
Gmass.co is another great tool that we use primarily for getting out the properties to as many of our buyers as best delivery as possible. There is nothing really better that I’ve found than GMass for the delivery. The reason is, is because it’s working off of Google’s own hosting. You can send, Joe, up to 2,000 emails from G Suite a day, or you can send up to 500 emails a day from a personal Gmail account. I can go in, and I can simply go in and save my list, where I want to send out emails, into a Google Sheet. It uses Google Sheets in order to pull its data from. And then from there – you can see right here on the screen.
Joe: Cory, let’s rewind a little bit. You liked GMass because of the amazing open rates. What kind of open rates are you getting on these emails?
Cory: The open rates are incredible. Sometimes we get open rates of 95%.
Joe: Which is insane.
Cory: It’s just insane. Most other email services, you’re lucky to get over 20%, and that’s really lucky. Most of them are 10%-15%. Anything that’s over 50% is just off the charts, and 90% is just insane. The reason is it’s using, again, Gmail’s hosting, and it allows you to send multiple emails, where it looks like it comes from one person. That’s the key. It looks like it comes from one person. You can set up – again look here on the screen. You can set up all kinds of ways that you can contact people back. So whenever they reply, they can click on a link, and you’ll know if they clicked on that link. You can automatically reply to them. You can have campaigns set up in two days. If they’ve never even opened the email yet, you can change the subject line, have another email go out. It’s really powerful, and you can also create sub lists of people that have clicked on the link or they’ve done something. Maybe they replied back to you. Just because they replied back to you, you can create a list of people that just replied and send a message to them. I think this service is less than $20 a month, Joe, and I’m telling you. It’s a game changer for us on deliverability.
Joe: Just to be clear, you have to use Google Chrome. I know you’re showing it on Safari right now, but you have to use Chrome to use it.
Cory: That’s right.
Joe: It does help if you get a special email through Google Apps, or I think they call it Google Suite now.
Cory: That’s correct.
Joe: Get your emails through – it can be on your own domain, but through Google Suite, and it’ll give you a lot more functionality with it. They have good support too, if you just email them your questions. GMass is good at responding.
Cory: That’s right. This has been a fantastic source, and it’s inexpensive and invaluable. You’ve got to use it. The open rates are incredible. Next one is CallRail. Joe, do you use CallRail too?
Joe: Oh I love it. I use CallRail and Vumber, but mostly CallRail.
Cory: I believe Sean Terry turned me on to CallRail back in the day, and I think even you turned Sean onto it.
Joe: I think I did. I’m going to take credit for it.
Cory: CallRail’s fantastic really for the reporting. Reporting is just next level, and it allows you to not only see great reporting, but it also allows you to easily set up the system, where you can have – whenever someone calls in that that automatically send an email out to your Podio or can send it out – for our case, goes to our PATLive. Then from there, it also goes into Podio, so we can track both places. PATLive will simply fill out a Podio form, and that goes into obviously our Podio there. You can have it go directly to Podio. You can have it go to PATLive. It allows you to easily track all of your phone numbers.
What you want to do, ideally, is you want to have one main number that is like a PATLive number or Vumber or, I guess, one of your main numbers. Then you want to set up tracking numbers for every market resource that you work with – every channel. It might be probates has a separate number than an inheritance list, than high equity. We’re doing multifamily mailings now. Code violations. We’re doing stuff with credit bureaus right now.
These lists are separate, and you want to make sure you’re tracking them specifically because then you’re going to know what your true ROI is. It’s easy whenever that call comes in, that it’s tracked inside of CallRail. The other thing is, it records the message. I can actually go in and listen to the call, right when it comes in, when it’s ringing. Actually when the phone’s ringing, it’s recording. When they pick up, I can hear how many rings it takes for PATLive to pick up, and then from there, I can hear how my PATLive rep has conversated with this motivated seller. I can hear the motivated seller. All that information now is transferred into Podio. CallRail allows you to do some cool things.
Joe: One cool thing about it too is that you can say in CallRail, “If PATLive doesn’t answer by the fourth ring, send it to voicemail.”
Cory: That’s right. You can set up a call tree, where it’s like “Press one, if you’re a buyer. Press two, if you’re a seller.” Some investors do that. “Press one, if you’re calling to sell a mobile home.” Some people do that – or lands, so they separate it out in the beginning.
There’s a lot of cool things that you can do. You can also do round robin inside of CallRail, which is pretty cool. It rings to a phone number – two numbers at one time, and the first one that picks up – that’s really cool, for if you have multi-acquisition managers. It’s a great tool. On this way, I might spend a little over $100 but it’s not much money. It’s a great business tool. It’s just invaluable for us. Other thing too is it sends the link into Podio, by the way.
Joe: Of the voicemail and the recording of the calls – you can listen to it. But one of the biggest things I used to use it for is getting every new marketing campaign that I do – postcards to this list or yellow letters to that list – gets its own unique phone number, a local phone number. You can track your marketing campaigns. Which leads are coming from which campaign, by the phone number that it comes from. CallRail makes it easy when a call comes in; you can tell which marketing campaign it came from, and you can assign it to that marketing campaign.
Cory: Yes, and you can set up call flows. There are all kind of cool things you can do with automations inside of CallRail. I highly recommend that you use it. We recommend it to all investors I work with, all our coaching students – that CallRail is a great service to use.
The next one is a tool called Slybroadcast. Slybroadcast is a little bit different than Slydial. Slydial allows you to send one message at a time to bypass someone’s voicemail – bypass someone’s phone from ringing, and it goes straight to voicemail. Slybroadcast allows you to upload a list of phone numbers and do that with it. I think that we spend – when we do these call blasts, Joe, $20 to $30. I’ll get a message that says, “You’re getting ready to spend another $10.” It’s really inexpensive – $0.20 to $0.30 a call, somewhere in there. I’m telling you, it works really, really well. When someone sees a little message that they missed a call, they’re more likely to contact you and say, “Hey, I didn’t even hear the phone ring.” It’s pretty ingenious on a way to get pretty powerful engagement. Do you have any more to say to it?
Joe: I love Slybroadcast; I use it a lot. I’m coaching my son’s baseball team, so I use Slybroadcast to send a voice message to all the parents recently about cancelled practice or something like that. I don’t want to call everybody manually, and I don’t want to voice blast people. I would say, proceed with caution when you’re using services that do autodialing anything or auto texting, because there are certain rules and regulations with anti-spamming. So you got to make sure you’re doing it the right way to the right people. We’re not here to give you legal advice. Just read the terms and conditions on these websites and make sure that you’re not being sneaky.
Cory: Perfect. One thing you can do to make sure that someone has given you permission is just say, “Would you like to be added to my VIP buyers list for texting or for voice messaging?” If you do that and they sign up, you should be fine. Just make sure, like you said, you’re not spamming people.
Joe: By the way, let me say another good application of Slybroadcast – and I have a wholesaler friend of mine that does this. He has a list of friends and realtors and investors and property managers that he has a relationship with. These are people close to him that he knows really well. It’s maybe 150 people in a certain market that he’s in, and he’ll send a Slybroadcast every couple of months. Just real simple, personal – it says, “Hey, how are you doing? This is Jeremy. Listen, I just wanted to call you and let you know that right now I’m looking to buy another property in the St. Louis area. If you have anything that you’re looking to sell, please let me know. I appreciate it. Thanks a lot.” Simple short message like that just says, “Hey, I’m looking for properties that are hard to sell, maybe that needs some work to fix up. Please let me know.” He’s only sending that to people in his personal network, his own personal sphere, so they all know him. I talked to him about it, and he said almost every time he does it, he gets deals out of it. It’s great.
Cory: It’s another way – you can do this for investors. If you’re trying to, like you said there, but you could also do this for example – and again, you got to proceed with caution, but investors tend to push the envelope with a lot of things anyway. Property management companies are some of the fantastic ways – most investors don’t even touch them, don’t even think about them. Those property management companies, they know all of the investors. The investors are always looking for new properties to add to the property management company. We’ve also built a pretty good list of property management companies that we can send messages to, that we can get a result from Slybroadcast. Definitely a great tool to use.
Next tool, and I guess our final tool here is House Price Robot. This is something I’ve been working on for quite a while now. We’ve got a lot of money invested into it. Basically, it is a Trivago of house prices. If you are watching on screen here – if I go to 2009 let’s just say, and you can do one search. Then it asks you to register because we want to find out where people are searching, and the whole purpose of this tool being completely free, as of right now – there you go. It was pretty fast. It popped up there – was because we want to be able to determine the data where people are searching. That’s more the value to me. I want to build a big list of where real estate investors are searching. One of the things we ask whenever you do register – if you are an investor, if you are a real estate agent, or if you’re both, or if you have a brokerage. We get some great, great data. Right here, you can see, I’ve pulled up property here in Oklahoma. Realtor.com shows at 121, PropertyShark is 113, Zillow 138, Redfin 98, and Homesnap 129. That’s a lot of different prices.
If you average all those together, we have this thing called our House Price Robot value. If you see that, then that right there is 120,088. Let’s say that I want to take Redfin out because I think that’s a little lower than these others. I can take Redfin out, and it automatically adjusts my value over here – my average. You see that, Joe?
Joe: Yeah, it looks good.
Cory: Yeah. If I want to take out – maybe this one’s a little high. I want to take this one out, so it automatically adjusts my value. What’s interesting about this is we have what we call WMRP Calculator built right into it. If I click over here on the right, and I looked for example on this prices – the 120,088. In our area, you want to look at percentage of what the rehabbers – we call this our market value – what rehabbers can go to banks to get loans for, and that’s usually anywhere from 70%-75% – maybe 80% but usually 70%. I want to use this for 70%. I’m going to keep this on percentage.
Then repairs – we look at $12.50 for our dollar amount that we use for repairs. If you click this right here, you can change your dollar per repair, but for us, we’re using $12.50. We hit okay. That changes that, and then if you look at building a $10,000 profit and I hit Calculate, I can quickly see from one button essentially – I can see what I need to put that property under contract for, to have a $10,000 profit built in.
That’s a pretty powerful tool. Certainly, you want to do a little bit more evaluation and not just solely depend on this, but this is a pretty fast way, Joe. Someone called in on this address. They’re telling me they need to sell this property really quickly, and they’re willing to get rid of it for $50,000. I could go right in and see immediately, to have a $10,000 profit built in with my repairs at 70% market value, and I know that that’s a deal or most likely a deal.
Joe: A lot of people get tripped up in this when they’re trying to get comps, and they say, “Zillow isn’t accurate or whatnot.” Listen, this is just your initial offer. Don’t overthink it. Take the average of all of them; make the offer. If they say yes, fine, get it under contract. If it’s close enough, great. You have the inspection period, where you can look at comps more closely, look at how much repairs it needs, look at active comps, which are just as important as sold comps. Then you can renegotiate, if you have to.
People get stressed out and worried about this, but it shouldn’t take you longer than a couple of minutes to come up with a simple ARV, especially when you’re making your first initial offer, just to see if it works or not.
Cory: There was a guy on the front porch. This is the house. It has a built-in streetview from Google – built right into it. It has our school information. It also has information for what the house would rent for, Joe. Right here, on Rentometer. If you click on this, it pulls in the Rentometer immediately. That’s pretty valuable to be able to have that pull in. It saves time. We use this a lot. You can also share this. You can print it out. You can do other things here.
I just want to show you the main functionality of it though is really pulling up these different price values in one location. If you go here to Nearby Properties, you can also change this over to Map, and you can see this changes as well. You can see some comps over here, and this is just pulling in from the Zillow.
We’re here on Zillow. If you go to Zillow here on the Map View and you can see right here, this is just a built-in API from Zillow that shows you some different comps. Again, this is purely from Zillow.
If you click over to Street View, you can see the street view from Google. It’s just a great tool – very fast tool that you can use, Joe, to pull price values really quickly.
Joe: Nice, Cory. That looks really good. Let me ask you something. Why did you create House Price Robot?
Cory: I’m really interested in data for investors. It’s fascinating to see how multiple real estate investors are just really dominating in their different local areas, and they’re basically making a ton of profit. A lot of these guys at Silicon Valley are trying to figure out what’s going on – how these guys able to do some of these things. I think that the integration of data and the way that you’re using data for different services that are out there and basically be able to integrate them together – it can give you a pretty interesting idea of where people search. For us, we want to build a very big list of investors that use this service, and I want to find out where they’re searching, how often they’re searching, which cities, which zip codes. For me, it’s exciting to build up a big database and have that tool.
The other thing is, later on Joe, we want to be able to license later to business our data, and that’s a whole other thing because you got to do a lot more work. There’s legal work behind that, but right now we’re just building up the users, and we’re investigating where they’re searching.
Joe: Very good. I like it. I think we’re done. That’s your five. Our next podcast would be my five. vFlyer, gmass.co, CallRail, Slybroadcast, House Price Robot.
Cory: You got it.
Joe: Very good tools. I think they’re not as good as mine. No, I’m just kidding. No, they are very good. The reason why you didn’t have some of mine is because you already have…
Cory: We had to choose which ones are – a lot of ours were already – we use a lot of the same tools – in fact, I would say 90% of the same tools. But we got to come up with our different ones.
Joe: This is good. Guys, go to reitechshow.com to get the show notes of this and also to get our top 10 tool box list of our favorite tools and a PDF – you get that. And you can get that report as well, if you text the word “TECH” to 38470. Just type in the word “TECH,” and we’ll get that report over to you as well. Leave us a review on iTunes if you like the podcast. We’d really appreciate it.
Cory: Yes. That’d be great.
Joe: Thanks, Cory. I appreciate it, man.
Cory: Thanks, Joe. I appreciate you. Looking forward to your top five next week.
Joe: That’s good. I am, too. Thanks, man. See you.