In 2021, the rules for text blasting changed forever with the introduction of Campaign Registry and A2P 10 DLC. This was in response to the increasing number of spam complaints. In Real Estate Investing, texting is almost entirely cold, but SMS is known to be one of the best ways to reach seller leads. How can you make text blasting work for you as a real estate investor / wholesaler?
The End of Mass Texting?
Real estate investing is a numbers game, and blasting hundreds of motivated sellers a day can put you in the lead. However, with the new requirements to register under A2P 10 DLC, campaigns can be disapproved and placed under very limited deliverability.
Even if you don’t register, carriers part of the Cellular Telecommunications Industry Association (CTIA) can stop all your messages from being delivered. And guess what? You still pay for each undelivered message.
Watch the video below to learn more about Campaign Registry, Trust Scores, and associated costs.
So what do real estate investors and wholesalers need to know to text blast the right way?
Text Messaging Leads
The CTIA and its member companies launched new Principles and Best Practices to identify the parameters for facilitating the exchange of P2P (Person-to-Person, or Consumer) and A2P (Application-to-Person, or Non-Consumer).
Text messaging’s popularity is largely attributable to:
- High deliverability;
- High response rates;
- Trusted channel for communication; and
- Convenient way to reach seller leads anywhere they may be
However, after thousands of businesses across a number of industries bombarded consumers, carriers united to create stricter rules and place responsibility on texting platforms for compliance and businesses. And so, a new chapter in messaging was created under The Campaign Registry.
Simply put, if you plan to text, and you are not registered, you can expect your messages to be evaluated based on CTIA’s rules.
What do the Rules Mean for Real Estate Investors and Wholesalers? And What Happens if You Don’t Register?
Basically, the new rules and regulations mean you need to register your business and get an approved phone number for mass text messaging campaigns. Effective as of June 1, 2021, any business that has not registered yet and is still text blasting, without adhering to best practices, is at risk of getting their numbers blocked by the carrier, losing their numbers, and thus losing their leads, as well as potentially being banned from their entire account.
But how do carriers know you are a business trying to send text blasts? And how do they find you? Here are some of the ways they can detect that it is a non-consumer instead of an individual:
- More than 60 messages per minute
- More than 1,000 to 2,000 SMS a day (carrier limitations vary)
- Over 25 repetitive messages a minute
- Text blasts sent to over 100 distinct telephone numbers
- 3:1 ratio of outgoing to incoming messages
To remain unregistered means to take all these and more into consideration and risk being red flagged and having your accounts blocked or even banned by texting providers. Imagine this happening while you are speaking with a motivated seller lead who’s about to accept your offer. The lead knows your number, but the number gets burned. If you have no other channels to recover the conversation, your chance of winning that deal may be lost.
Investors all over the country have experienced decreases in texting deliverability and several learned the hard way, by losing contracts, how strict the new rules have become.
How do You Refine Your Messaging and Ensure Deliverability?
It’s not about quantity, but about quality – the better the data, the more likely you are to reach motivated seller leads who intend to sell because they need (not want) to sell, and that makes them more likely to reply.
Quality data was always important but now it’s indispensable. Without it, you may as well burn your dollars and spare yourself from wasting time. (Curious about what better data means for real estate investing? Read our article Better Data, More Real Estate Investing Deals.)
It’s time to get real and ask yourself: can you text hundreds of leads a day and stay within guidelines? Are you able to drive responses higher than 3:1? Do you have the manpower and technology to transmit, store, and retrieve hundreds of text message conversations? Can you write a variety of messages that address different seller types (e.g., pre-foreclosures, probates, tax delinquents, bankruptcy, etc.)? How do you even find distressed property owners?
Cheaper becomes expensive with wasted time, burned numbers, and lost deals due to blocked accounts…Free yourself from the headache by outsourcing. GoForClose does it all for you: quality data, lead scoring, skip tracing numbers, and multichannel campaign blasting with text messaging and more.
We go beyond standard and basic to give you a true competitive advantage.
GoForClose Raises the Bar in Effective Text Messaging
Enjoy high deliverability and response rates in texting messaging, thanks to our exclusive data, high accuracy skip tracing, sourcing numbers, and lead scoring. Our multichannel campaigns text blast hundreds of leads a day in combination with other channels, such as ringless voicemail and email. Our Inside Sales Associates (ISA) live answer all replies, do callbacks, cold calling, and schedule appointments.
We comply with all text messaging laws and regulations, and when there are changes in principles and best practices, we update and optimize our text message campaigns accordingly. We make connecting with leads easy with text messaging, so you can focus on sales and closing deals.
If you have questions or are curious to know more, request a free consultation below.
Wayne Hudson
Wayne Hudson has a background in sales and real estate - but with a passion for economics. He uses his knowledge of economics and real estate to help clients think strategically and make decisions to optimize their outcome.
As the company's business developer, Wayne works to help GoForClose grow.
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Wayne Hudsonhttps://www.goforclose.com/knowledge-base/author/opsgoforclose-com/
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Wayne Hudsonhttps://www.goforclose.com/knowledge-base/author/opsgoforclose-com/
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Wayne Hudsonhttps://www.goforclose.com/knowledge-base/author/opsgoforclose-com/
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Wayne Hudsonhttps://www.goforclose.com/knowledge-base/author/opsgoforclose-com/
