Jill Friday–What to Do If You Are Not a Data Person (LA 1827) - a podcast by Steven Butala & Jill DeWit

Jill Friday - What to Do If You Are Not a Data Person (LA 1827)
Transcript:Steven Jack Butala:
Steven and Jill here.Jill K DeWit:
Hi.Steven Jack Butala:
Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill K DeWit:And I'm Jill DeWit, broadcasting from the Valley of the Sun.

Steven Jack Butala:Well, today is Jill Friday, and she's going to talk about what to do if you're not a data person.

Jill K DeWit:Like me

Steven Jack 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 K DeWit:Okay. Are we going to skip all that?

Steven Jack Butala:Yeah.

Jill K DeWit:Yeah, let's just skip all that. Rolling. Rolling. Rolling. Rolling. Teleprompter. Rolling. Rolling. Rolling. Here we go.

Steven Jack Butala:This is good. You're going to like this.

Jill K DeWit:Okay, good. Dave wrote,"For the new people here, a little cautionary tale for you on the importance of follow up. I received a purchase agreement back from a seller, where the only thing they did was write, add another $10,000, and we got a deal. My original offer was $59,000 in change. I did a very basic bit of research, but couldn't find enough info to make me confident in the viability of the steel. On top of that, the seller didn't leave any contact info at all. I made a note in my serum to make an effort to either skip trace the owner, to give him a call, or to just send another offer for $10,000 more, just to get it signed so I could move forward with real due diligence and have my land agent go check it out.
Unfortunately, I got too busy with other leads, and before I knew it, two months had gone by. I just pulled it up to see if any new comps were available and wouldn't you know it, but this specific property, shoot, had just been listed four days ago for $150,000. My failure to follow up in a timely manner just cost me $80,000, because he could have bought it for 60 or seven days emails and sold it for 150 listed here. To be fair, just because it's listed for 150, doesn't mean it will sell for that. But still, don't let this happen to you. Answer your phones, call people back as soon as you possibly can, follow up. If you're doing enough volume, hire that transaction coordinator, don't let deals slip through your fingers. And for the record, I'm usually much better about follow up, this one just slipped through the cracks, but it was a doozy."Steven Jack Butala:
Usually when they slip through the cracks, you don't know it.

Jill K DeWit:True.

Steven Jack Butala:There's been deals, Jill, and I have passed up, especially in deal funding where somebody else funds it and then everyone makes a million dollars.Jill K DeWit:
I know. I'm like, well, good for you. They're like, because it's often like you didn't get back to me in enough time. I'm like, sorry.

Steven Jack Butala:I feel your pain, man. It's just part of this.

Jill K DeWit:You know what? Keep going. You got this.

Steven Jack Butala:The other thing too, what happens actually more often for us it's like, we just don't like that type of property, so we're not going to do the deal. It got in the mailer, it's that type of property, we're not going to do it, somebody else does it, makes 300 grand. Today's Jill Friday, what to do if you're not a data person. This is the meat of the show.

Jill K DeWit:This came to me from our new customer management person. He's like, a lot of people think they're Jills. They say they're a Jill, they want to be a Jill, that's their forte. They can tell, but they don't what to do about the data part of it. They're freaked out by the data part of it. They don't understand the data part of it. They're overwhelmed by the data part of it. So, what do you do? And that happens often clearly, right? So, I could do it, not like you. I'll never be as good as you. It's very rare that you are good at both. And I mean,

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