Stay Paid Podcast: Detailed Summary of "How We Closed 40 Transactions from Absentee Owners"

Release Date: January 13, 2025
Hosts: Luke Acree & Joshua Stike
Guests: Stephen Acree & Cody Smith, Acree Brothers Realty Team

1. Introduction

The episode begins with Luke Acree and Joshua Stike welcoming listeners to the Stay Paid Podcast, a platform dedicated to helping agents and entrepreneurs master business trends for growth and freedom. Today’s special guests are Stephen Acree and Cody Smith from the Acree Brothers Realty Team, the top real estate team in Lynchburg, Virginia. They delve into an effective strategy for closing transactions with absentee owners.

Luke Acree [00:00]: "Welcome to the Stay Paid podcast where we help agents and entrepreneurs master the latest business trends to unlock growth and create a life of freedom."

2. Acree Brothers' Remarkable Achievement

Stephen Acree shares the team's impressive performance, having closed 249 deals within the year, with a significant portion stemming from targeting absentee owners. This sets the stage for an in-depth exploration of their lead generation strategy.

Stephen Acree [01:23]: "249 on. Yep."

3. Lead Generation Strategy: Targeting Absentee Owners

The core strategy revolves around identifying and converting absentee owners—homeowners not residing in their properties—into listings. Stephen explains that absentee owners present dual opportunities: acquiring listings and generating leads for investment or flipping properties.

Stephen Acree [02:13]: "We're not just after buying properties; we're after getting leads that will turn into listings."

4. Finding and Contacting Absentee Owners

Cody Smith outlines a threefold approach to locating absentee owners through circle prospecting. This involves using parcel viewers and public phone directories like White Pages to compile contact lists. They emphasize the importance of double-dialing to increase the chances of connecting.

Cody Smith [05:40]: "The simplest way to do it through circle prospecting is you pull up two websites, you pull up the Parcel viewer, and then you're going to pull up white pages."

Stephen Acree [06:46]: "Instead of spending money on a big list, I would actually drive for dollars, pinpoint properties, and call through those numbers."

5. The Phone Call and Appointment Setting

Stephen shares insights into their phone call strategy, emphasizing the importance of a compelling script that leverages the known motivations of absentee owners. By presenting an instant offer based on market estimates, they effectively pique interest and secure appointments.

Stephen Acree [18:11]: "If I were to ask you, Luke, if you received an offer on your property, would you be open to looking it over? Your first initial thought is, of course, I'm not tied to anything."

6. Building Relationships with Investors

The team leverages relationships with local investors by providing them with a steady stream of off-market deals. This symbiotic relationship not only benefits the investors but also ensures a continuous influx of listings for the Acree Brothers.

Stephen Acree [25:04]: "You don't need to invest. You're actually going to go, okay, well, if I don't have an investor, what do I need to do to get an investor?"

7. Offering Value through Instant Offers

Instead of vague cash offers, the Acree Brothers focus on "instant offers," which convey real value and build trust with sellers. This approach contrasts with methods that might seem manipulative, fostering long-term relationships based on transparency and education.

Stephen Acree [23:28]: "We don't actually want to push cash offer because people have put in their mind that a cash offer means a low offer on the table."

8. Handling Offers and Educating Sellers

Stephen emphasizes the importance of educating sellers about their property's true market value. By providing detailed analyses and comparisons, they help sellers understand the benefits of accepting their offers over listing the property traditionally.

Stephen Acree [10:11]: "Your script has to be really good to pull out as much data on the phone call as you possibly can."

9. Scaling the Strategy and Systems Efficiency

Scaling this strategy requires robust systems and operational efficiency. The team utilizes ISAs (Inside Sales Agents) to manage initial contacts and property assessments, ensuring that each lead is meticulously vetted before moving forward.

Cody Smith [16:30]: "Once we meet them, we'll add them to the magazine and conduct quarterly calls to keep in touch."

10. Target Audience: Baby Boomers Insights

Stephen identifies baby boomers as the prime target for their absentee owner strategy. This demographic holds significant wealth and properties but often seeks to retire and offload management-heavy assets.

Stephen Acree [33:00]: "Baby boomers are in the retirement age... They hold the highest wealth in all of America."

11. Overcoming Challenges and Maintaining Integrity

The Acree Brothers stress the importance of integrity and transparency in their dealings. They caution against manipulating sellers and advocate for honest assessments to build trust and ensure sustainable success.

Stephen Acree [36:39]: "All these big brands, they're like, educate, educate, give free information, because no one's going to go out and do it."

12. Final Thoughts and Advice

In wrapping up, Luke Acree underscores the proactive nature of their strategy, encouraging agents to take action rather than rely on passive methods. The team reiterates the effectiveness of their approach and invites listeners to implement similar tactics.

Luke Acree [38:41]: "The strategy is simple. I would test this out. ... top producers take action. Take action on that today."

Notable Quotes with Timestamps

• Stephen Acree [02:13]: "We're not just after buying properties; we're after getting leads that will turn into listings."
• Cody Smith [05:40]: "The simplest way to do it through circle prospecting is you pull up two websites, you pull up the Parcel viewer, and then you're going to pull up white pages."
• Stephen Acree [18:11]: "If I were to ask you, Luke, if you received an offer on your property, would you be open to looking it over? Your first initial thought is, of course, I'm not tied to anything."
• Stephen Acree [23:28]: "We don't actually want to push cash offer because people have put in their mind that a cash offer means a low offer on the table."
• Stephen Acree [33:00]: "Baby boomers are in the retirement age... They hold the highest wealth in all of America."
• Luke Acree [38:41]: "The strategy is simple. I would test this out. ... top producers take action. Take action on that today."

Key Takeaways

• Targeted Lead Generation: Focusing on absentee owners provides dual opportunities for listings and investment deals.
• Effective Outreach: Utilizing circle prospecting and double-dialing increases connection rates.
• Transparent Communication: Educating sellers about their property’s true value builds trust and facilitates deals.
• Investor Relationships: Providing a consistent stream of off-market deals enhances partnerships with investors.
• Operational Efficiency: Implementing robust systems and leveraging ISAs is crucial for scaling the strategy.
• Demographic Insights: Baby boomers represent a lucrative target due to their accumulated wealth and desire to retire.
• Integrity in Sales: Honesty and transparency are foundational for long-term success and reputation building.

Conclusion

Stephen Acree and Cody Smith of the Acree Brothers Realty Team demonstrate a highly effective strategy for closing transactions with absentee owners. Their approach, grounded in targeted lead generation, transparent communication, and strong investor relationships, offers valuable insights for real estate professionals aiming to elevate their business. By adopting their proactive and integrity-focused methods, agents can replicate their success and achieve substantial growth.

For more insights and resources discussed in this episode, visit staypaidpodcast.com and connect with the Acree Brothers on Instagram and Facebook. Subscribe to Stay Paid on Apple Podcasts, Spotify, or YouTube to stay updated with future episodes.