Follow Up Marketing
I just put a property under contract last week that I felt a need to write about. I received a phone call from Rob about 8 months ago from a yellow postcard he received from an absentee mailing campaign I was implementing.
After briefly talking with Rob over the phone I set an appointment to meet him at the property so I can make my ALL CASH OFFER. After walking through the house which had been abandoned for about 2 years I made him a verbal offer with a quick closing.
He quickly rejected my offer and basically threw me out the door before I could even justify my offer. At that point most investors would have left and never made contact with this seller again.
So after that meeting I put Rob into my follow up database where I would contact him every month until he put the property went to closing with another buyer.
For the next 8 months I contacted Rob about buying the property. There were some months he didn't answer and I would leave a voicemail. I knew at this point he probably wouldn't call me back. My goal was to keep me and my company fresh in his mind so I would be the first person he would think of when he decided to sell.
After calling Rob the 8th time he answered my call and we got to talking. I gave him another verbal offer and he immediately accepted. Not only did he accept my offer but he was wanting to put something in writing right away.
Just goes to show the power of follow up marketing. Just because a seller is not willing to come down to your price on the first try that doesn't mean he/she won't be motivated down the road. Not only is it a great way to find deals but it is also a very time effective way of finding deals. I put maybe 2 minutes a month into following up on this lead. When it's all said and done I will make close to $20,000 on this deal.
I have bought 3 deals this year alone from follow up marketing. I've probably missed out on dozens of deals over the past few years from lack of follow up marketing.
Matt Midden
St Louis Homebuyers, LLC
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