Wyatt Petty turned daily expired calls into 3 closings and a 7-listing pipeline

Wyatt Petty00:00

Here in Columbus, the home values keep continuing to appreciate as well. So that’s really what kicked me off to start making these phone calls, because I know the business isn’t just gonna come into my lap. It’s something where I gotta have pretty much the ball in my court, or have something where I can do every day and be in control of my business activities and getting appointments and get in front of people.

00:20That’s why this was such a huge thing for me to implement.

Aaron Wittenstein00:43

What’s going on, everybody? It’s me, it’s Aaron Wittenstein, and I’d like to welcome you to Vulcan 7 Roadmap. This is where we teach you how to take two, three, four, 7,356 listings additional per week. And we actually have a really good guest here today, my guy Wyatt Petty from the wonderful city of Columbus in the wonderful state of Ohio.

01:01How you doing, my friend?

Wyatt Petty01:02

Doing great, Aaron. How you doing?

Aaron Wittenstein01:04

You know, I gotta say, I’m doing pretty darn good today. Pretty darn good today. So, we conversed a little bit before we got started here. So how long you been in business for?

Wyatt Petty01:14

So I got licensed in 2017. I’ve been in the industry for six years now.

Aaron Wittenstein01:19

And how old were you when you started?

Wyatt Petty01:20

19 years old.

Aaron Wittenstein01:21

I started at 19. I had a lot more hair back then. Okay. So you’re still a baby. What are you, 23 years old right now?

Wyatt Petty01:28

So 25, heading on 26 in February, so it’s coming up.

Aaron Wittenstein01:30

And my addition is not working whatsoever. So, how’s business, Chris?

01:35How’s business?

Wyatt Petty01:36

I would say it’s been great, man. I would say Vulcan 7 has been a huge help. I’m definitely excited to talk a little bit about ROI that I received with some success in calling that I’ve done.

Aaron Wittenstein01:46

Got it. So where’s your phone calling? Are you an expired guy, a FSBO guy, a FRBO?

01:51What do you like to call?

Wyatt Petty01:52

I would say I am big on cancels, for sale by owners and expireds. So those are three huge pillars I use when cold calling.

Aaron Wittenstein01:59

Got it. So if you had to pick one, let’s just say FSBOs or expireds, which one would you pick?

Wyatt Petty02:04

That is a really great question. I would say I had the most return so far with expireds-

02:09so I am sinking a lot of time into expireds.

Aaron Wittenstein02:12

Got it. And how long have you been prospecting for expireds?

Wyatt Petty02:15

Since January, February. February of last year.

Aaron Wittenstein02:17

Okay. All right. So you’ve only been doing it for about a year or so then, huh?

Wyatt Petty02:20

Yeah.

Aaron Wittenstein02:21

Okay. Did you hit it hard on the 1st or the 2nd of this year?

02:24How’d that go for you?

Wyatt Petty02:25

So actually I started plugging and chugging on the 1st of this year, and I’m excited to ride that out.

Aaron Wittenstein02:29

How many expireds did you get in your market?

Wyatt Petty02:31

Yeah, so this is actually really interesting. So I have… Let me count real quick. I made a little couple notes down. Okay. That is two.

02:38Yeah. So I made three-

Aaron Wittenstein02:40

So you got three expired appointments… Did I catch that right? Three-

Wyatt Petty02:44

closings from expireds within the last year.

Aaron Wittenstein02:45

Oh, three. Got it. So from expireds within the last year. Okay. Got it. ‘Cause we all know, it kinda takes time to get stuff up and running, right?

02:53And I’m sure you’ve built, like, one heck of a pipeline over the last year or so then, huh?

Wyatt Petty02:57

That is one awesome thing that you mentioned as well. Yeah. So last year, I realized with these interest rates that we gotta be hunters in this business, and Vulcan 7 has been a huge help to that.

03:07So with that being said, I’ve got about, I would say, seven to eight listings coming up this year in the pipeline, and that’s from all the hard work I put in through the prior year, so I’m excited to see that come to fruition.

Aaron Wittenstein03:17

Okay. So let me just make sure that this is clear, all right? Is that the work you do, three, six, nine, 12 months, will position you where you want to be this year.

03:29Is that correct?

Wyatt Petty03:30

Oh, absolutely, Aaron. Yeah.

Aaron Wittenstein03:32

So how many hours a day do you typically call?

Wyatt Petty03:35

I would say anywhere from an hour to an hour and a half a day. My biggest goal is to make 65 to 70 calls a day. 65 minimum.

Aaron Wittenstein03:42

Got it. And when you hit those numbers, how many leads should you usually get?

Wyatt Petty03:48

Great question. I would say, from my experience hitting the calls, within a week period, probably about two or three leads.

Aaron Wittenstein03:56

So, I mean, you figure you get two to three leads a week, you multiply that by calling, what, 40 weeks out of the year. That’s what, 40 times… Let’s just say two and a half.

04:06That’s 100, right? That’s 100 quality leads. And it’s amazing what happens. You divide that by 10%, because out of that you should get at least 10%, and that brings you to your 10 that are gonna be taken this year, right?

04:20So do you have a particular strategy that you call, you know, when you call the expired listings?

Wyatt Petty04:24

Yes. At first I did start with scripts, and then it became natural, more calm in the calls, and just kind of reading people and just going off of that conversation and really trying to build rapport with them, and showing them that I’m there to help. Not everybody’s gonna be friendly at first. But to go over those objections and just ask them reasons why, that’s been a huge help for me in just pushing.

Aaron Wittenstein04:44

Let’s say over the last few months, okay, other than the holidays, what are the biggest objections that you’re handling right now?

Wyatt Petty04:53

I would say, one of them, for sale by owners I feel like can have some of the most rejections.

04:58But with talking to them, a lot of times it’s about the money.

05:02And then if you’re able to explain to them, you just come in calm, cool, and collected, and you talk to them. And at the end of the day, if things don’t make sense to them… It’s not gonna make sense to everybody, but there’s a lot of people that do need help out there and will see your value. I can even piggyback off of expireds too.

Aaron Wittenstein05:16

So you’re splitting it between expireds and for sale by owners within those two hours you’re making phone calls then, right?

Wyatt Petty05:20

Yes.

Aaron Wittenstein05:20

So let’s look into this for a second. So, here’s what I see from you in general, is you’re extremely consistent with what you do. Am I right?

Wyatt Petty05:27

Yes. Uh-huh. Every day.

Aaron Wittenstein05:29

Okay. All right.

05:30Excellent. So, like, what does your typical day look like?

Wyatt Petty05:32

My typical day looks like, basically, the day prior I always build up my checklist for today. As long as I hit my check marks I’m very satisfied and I’m moving forward. That’s just the way that my brain works. But every single day I put on my notes, make 65 phone calls or plus on Vulcan7.

05:50I do three handwritten cards, three texts to my past sphere, and then three emails as well.

Aaron Wittenstein05:56

Got it. So pretty much you have a checkbox every night that you do, because when we plan, we plan tomorrow starting today, right?

06:05Okay. So then walk me through. So you plan the day out in the evening.

06:10All right. You wake up, and what does that look like from there?

Wyatt Petty06:12

So essentially when I wake up, 65 phone calls. Being the first to these expired people has been huge. You wanna be one of the first people that they’re gonna talk to, build that relationship with, and be there for them at the time and figure out the reasons. Like, if it’s an expired, pre-look at the listings, see maybe what happened, and then just be, like, that superhero in a cape for them.

06:34And then from there, I like to do my three texts to people I’ve closed with in the past. I like to make three phone calls to my sphere, continuing those relationships, and then three handwritten note cards. That’s been a huge help to my business.

Aaron Wittenstein06:49

So at what point when you started doing this last year did you decide, this is the route I’m gonna go?

06:55Like, how did that all come about?

Wyatt Petty06:56

So last year, with these interest rates getting higher and higher and higher, one of the biggest things was just becoming a hunter in the business. And you gotta be out there, and the business isn’t gonna come into your lap like it was when these interest rates were low.

07:08So for me personally, it’s just a very good way to get in front of people, a good way to get their information, give them a phone call, and just be there to help them. But also too, it’s keeping the ball in my court for my business. So it’s been a huge help.

Aaron Wittenstein07:21

What made you… ‘Cause I mean, people, they work their database, they work their sphere, and then stuff comes up like-

07:26what made you decide, I wanna call expireds and FSBOs?

Wyatt Petty07:30

Yeah. So, like, in 2020 these interest rates were lower, so I mean, I was just so used to people here and there coming my way, excited to buy a house, interest rates are good, and that matters to people a lot. So once these interest rates got higher, it kinda changed, and the media was fooling a lot of people too, saying it’s not a good time to buy and all that, and not a good time to sell ’cause these interest rates.

07:51But houses were still flying off the shelves at the same time, because here in Columbus the home values keep continuing to appreciate as well. So that’s really what kicked me off to start making these phone calls, because I know the business isn’t just gonna come into my lap. It’s something where I gotta have pretty much the ball in my court, or have something where I can do every day and be in control of my business activities and getting appointments and getting in front of people.

08:15That’s why this was such a huge thing for me to implement.

Aaron Wittenstein08:18

Got it. Got it. Yeah, ’cause I know Columbus in general, I mean, that’s a solid market up that way, and it’s increasing and increasing and increasing. So, I mean, do you see a lot of people kinda moving that way?

08:29Or I mean, what are you seeing in your market right now?

Wyatt Petty08:31

Yeah. So as of right now, I mean, we got lots of development going on here in Columbus. We got the Intel plant that just, well, broke ground, it’s now being built. We got Amazon, we got Facebook, we got Google. So as of last year, the population was 915,000, and by 2050 we’re supposed to have three times growth.

08:48So if you’re thinking about it, I mean, the media and everything’s saying, you know, worried about values going down, a lot of people. But at the same time, the values keep appreciating because it’s low housing inventory we currently got, and then with this population increase, I mean, I only see the values continuing to go up and up and up and housing demand to get only stronger.

Aaron Wittenstein09:06

So all right, so you seem to know your market numbers pretty well. How do you use that? Like, you just, like, right off the top of the head. So how are you using that when you’re prospecting?

Wyatt Petty09:17

Oh my gosh. It’s been just kind of versing it to people like that and showing them that… You know, don’t trust the media, trust an agent who’s on the field every single day.

09:26And then, I just pretty much, like I’m telling you, I tell them that at the same time. Marry the house, date the rate when interest rates were up. Luckily, we’re supposed to have a little bit better rates this year as well and go down, so I’m super excited about that when talking to people.

09:39But just basically how I told you right there, that’s how I’ve been telling my clients.

Aaron Wittenstein09:43

That’s great, because I mean, I assume you get a lot coming out of people like, “Oh, the market’s not good. There’s nothing for sale. The interest rates are low.” And then to be able to share that type of…

09:54And so all right, so let me ask you this then. Do you study the numbers on a daily basis? Or, like, are you normally a numbers person, or what does that look like?

Wyatt Petty10:04

I’m a very analytical person, so I definitely am a numbers guy. And I think the more knowledge I have with knowing my market, the more power I’m gonna have in talking and educating my clients, my buyers, my sellers, et cetera.

Aaron Wittenstein10:19

So here’s the thing, is that I’m very much into personality profiles and styles and stuff like that, okay?

10:24And you don’t always get a highly analytical person to, you know, it doesn’t always, you know, sell real estate, and you’re doing very well. So, like-

10:34you know, and in using those numbers to your advantage is a huge thing, because you can relate to more people than I can relate to.

10:40Because, do you have any… I think, like, analyticals are 30-some-odd percent of the population. Something like that, if I’m not mistaken. And, you know, like, a dominant personality like myself is 10% of the market, okay? So for you, using numbers would probably be your superpower, right?

Wyatt Petty10:59

Yeah, I would say 100%. And then for me, biggest thing, even on listing appointments and stuff like that, it’s so important to know your numbers. I mean, just being in this industry alone, knowing how many days on the market, hypothetically, if you price it at a certain price point, I’m almost able to guarantee, you know, if we can come to terms, I can let them know when the home will be sold, with my game plan and everything else as well.

11:20So I mean, it’s been such a huge help.

Aaron Wittenstein11:22

Yeah. Like I said, when it comes to talking numbers with me, you’re barking up the wrong tree. It’s just not my thing. It’s not my thing at all. Which is-

11:30really

11:30interesting. Oh, yeah.

Wyatt Petty11:31

Um-

Aaron Wittenstein11:32

It’s very… To hear you just, you know, those…

11:37All right, so let me ask you this then. For those of us that are not highly analytical, numbers-driven people, how do you go ahead and find those statistics? Because I think that would… I don’t think, I know that would be huge for people.

Wyatt Petty11:47

So basically, for my numbers and population I like to keep, and just, like, the growth and stuff, I’m a nerd for Google.

11:53I love Google and looking things up all the time, and just knowing kind of where predictions will go. I mean, even with interest rates and stuff like that as well. So even when I’m meeting with sellers, the first thing I do is, I’m very thorough with my CMA. So I get five comparables plus, always.

12:13Sometimes you won’t be able to get that, but then I just really look at the numbers, and once I have those averages from the MLS, I’m able to just see kind of what price points homes were selling at, where they priced it at. And then looking at that, essentially I can know where it’s gonna be priced hot and how many days on the market.

Aaron Wittenstein12:29

Got it. And when you’re prospecting, how are you utilizing the numbers to your advantage when you’re on the phone with somebody?

Wyatt Petty12:35

Days on the market. So when it’s expireds, everything correlates to days on the market. Especially here in Columbus. If that home has not sold, and maybe it was priced right…

12:46So I use a dual monitor when I’m prospecting as well, expireds, FSBOs, whatever it is. So the first thing I do is I put it up on my second screen, and then I analyze it real quick as I’ve got the quick calls going through and stuff like that. I’m, like, all over the place. But when that’s happening, I can see if they got professional marketing, professional photos.

13:07I can see how many days on the market. And here, typically, I mean, my average days on the market’s about, I would say, five or six days on the market before we’re under contract. And then I can just kind of, I would say, proof it from there and see what went wrong with the listing. But one thing I do know, if it’s over, I would say, six to seven days on the market, that home was not priced right or was not marketed right.

Aaron Wittenstein13:27

Interesting. Interesting. All right, so this is a question I ask to every single agent that comes on Roadmap here, is let’s say a brand new agent knocks on your door and says, “Wyatt, what’s one piece of advice?” What would that one piece of advice be?

Wyatt Petty13:40

Consistency. Don’t stop. Keep going.

Aaron Wittenstein13:43

That’s about as simple as it gets right there, man.

13:44That’s about as simple as it gets. So all right, man, I just wanna say thank you so much for… Yeah, I mean, it doesn’t get any easier than that. Just do your stuff regularly and you’re going to be fine, correct?

Wyatt Petty13:54

If you break it down to layman’s terms, that’s all there is to this business.

13:57Yep.

Aaron Wittenstein13:58

Exactly. Exactly. So, Wyatt, it was a pleasure having you on here. Two things. Number one, what’s your final words? The last thing you would like to get through everybody’s real estate heads, if you will.

Wyatt Petty14:10

I would say believe in yourself. Invest in yourself. And like I said, consistency is so huge to this business.

14:17And you’re not gonna see results instantaneously. Some people do, and that’s part of the luck in it, too. At the same time, we’re just doing what you should be doing. But honestly, for me, it took me about four or five months to get my first deal. And also, one thing I’ll leave off too is, I made 5.8 times ROI just within the first year with the foreclosures I’ve had using Vulcan7.

Aaron Wittenstein14:42

That’s amazing. Yeah, I mean, and it’s just… Well, you’re quoting ROI. I love it. You’re so numbers. You know what I mean? Like, I wish I was like that. I’m just not, it’s not my thing. All right, my friend. Let’s say someone’s moving to Columbus or needs a realtor in Columbus, how do they get in touch with you?

Wyatt Petty14:57

Contact me. Message me. 614-806-3243. I absolutely love what I do, and I’ll give an amazing experience.

Aaron Wittenstein15:05

Excellent. All right, my friend. Well, thank you very much for coming on here. It was an absolute pleasure, and I wish you nothing but the best, okay?

Wyatt Petty15:12

Thank you, Aaron. You as well, buddy.

Aaron Wittenstein15:14

All right. Take care, my friend.

15:14Be well.