Important contact field for acquisitions

Updated 2 years ago by Michael McKay

It's important that the fields below be kept up to date. We use these fields to automatically generate tasks, create call lists, run reports to understand where to spend our marketing dollars, and keep stakeholders updated through email campaigns.

Email address

Use: We send update emails to our contacts in each market when we close deals. This helps us to stay top of mind with owners, brokers, etc. Adding an email to a contact will also log your emails with that contact to Hubspot, so you can easily see the last time you contacted someone.

Make sure to add a contact's email in Hubspot even if you are already emailing with them.

Lead status

Use: We will automatically create tasks based on the status of a lead. E.g. If you change the lead status to attempted to call, Hubspot will create a task 2 days from now reminding you to call that contact again.

Select one fo the following statuses from the dropdown menu:

  1. New- you have just added the contact to Hubspot, but haven't spoken to them yet
  2. Attempted to contact- you reached out to the contact, but have not heard back
  3. Spoke to contact- you spoke to the contact
  4. Dead- after speaking to the contact, you realize that the contact is not useful to us and that we shouldn't contact them again. You should also use this status for anyone that asks you not to reach out to them again.

Contact owner

Use: Automated tasks created based on the lead status or other fields are assigned to the contact owner. The contact owner is responsible for all communication with this contact.

The person who is handling this contact, should be assigned as the contact owner. E.g. If John, who works at Howard, adds his friend Tim, who is a commerical broker, to Hubspot, John should be the contact owner.

Source

Use: We will run reports on this field to see which sources are bringing the most closed deals. Based on this info, we will dedicate more time and marketing dollars to the sources that are performing best for us. This will also help us to avoid wasting time on sources that aren't bringing in business.

Enter where you got the contact or lead in the Source field. E.g. Zillow or Referall from John Smith

Use: Contacts are often added to the CRM automatically or by a virtual assistant who is looking for contacts or deals for us. This field makes it easy to find any listings associated with a contact.

Copy and paste the link to the listing into this field. If there is more than one listing, you can add one link per line. Any listing that we should look into further, should be added as a Deal.

Distribution list

Use: This is the email list that the contact will be added to, so that we can keep them up to date with marketing emails. E.g. If you add a broker the the JC Airbnb distribution list, they will receive an email announcing each Airbnb deal we close in Jersey City. This helps us stay top of mind with everyone in a market.

We can create smart lists based on contact fields and add more distribution lists as we grow. Smart lists allow us to use many factors in a contact to determine who gets an email. E.g. We can create a list to email only contacts on the JC Airbnb distribution list, whose lead status is Spoke to contact.

Notes

Use: Keep any notes on the contact to refresh your memory at a later time. It's important to keep all notes up to date, so that other team members are kept in the loop.

Log activity

Use: This will allow you to create lists and run reports. E.g. We can create a call list of anyone who you haven't spoken to in more than a month, so that you can easily follow up with them.

The following should be logged as activities:

  1. Phone calls
  2. Meetings

Deals

Use: A deal with the property address should be created when a contact has sent us a property that we want to look further into. We are able to track deals in Hubspot and move them to different stages. This allows us to easily see the status of all deals and automatically assign tasks based on the status of a deal. E.g. A deal for 5 Airbnb units named "1 Main St" will automatically assign a task to Seb, when it's moved to the Needs Rented underwriting stage.

A contact can have more than one deal. E.g. A commercial broker in Philadelphia send us 3 deals we are interested in. These should be created as 3 separate deals and associated with the broker's contact. This will allow us to create notes and update the status of each deal individually.


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