Probate Response Rate

What kind of response rate is common for direct mail targeting probate cases? I'm thinking of a yellow letter campaign specifically targeting probate cases I find in the newspaper and at the county recorders office. Does anyone do this and is it worthwhile?

Terry Royce

Real Estate Investor · Baltimore, Maryland

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Oct 05 '10, 03:24 PM

Erick, I've been looking to get into probates for a while, but have been dragging my feet.

How are you going to target them with your letter?
I was planning on just doing postcards at first and avoiding the probate issue altogether.

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David Lunsford

· Fort Worth, Texas

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Oct 20 '10, 12:29 AM

Dan, I gather from your comment you have a better way to buy probate property. Please share it with us.

Brooks Conkle

Real Estate Investor · Mobile, Alabama

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Oct 20 '10, 01:26 AM

Dan, also interested in a different route.

Erick, we just closed a wholesale deal from a probate lead and make over $6k.
I'm not gonna lie, I was starting to get frustrated as my costs for marketing was approaching $700. (you can find the story on my blog if you like -- one my recent posts)

I personally think it's a good strategy because it's labor intensive.
We actually pay a guy to go down to our courthouse and manually pull up records in order to find the executor addresses and then we mail them a letter.

It's not just a list that you can buy. It takes work.
I honestly don't think that any other investor (at least that I know of) is doing this same marketing in my Mobile, AL market.

Terry Royce

Real Estate Investor · Baltimore, Maryland

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Oct 20 '10, 04:50 AM

Brooks, what was your marketing approach to get this lead? Letters? Calls?

How many leads did you have to contact to get this one,?

Luis Leon

Roofing Contractor · Woodlands, Texas

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Oct 20 '10, 04:54 AM

Originally posted by Dan O'Connor

Hey Erick,

My 2 cents...

If you're referring to the typical "contact probate attorneys and/or Personal Representatives/Executors" angle... expect a lower response rate as that's pretty much what 90% of investors do.

HTH,
Dan

Dan,
what do you know about the other 10%.

Brooks Conkle

Real Estate Investor · Mobile, Alabama

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Nov 24 '10, 09:25 AM

Originally posted by Terry Royce

Brooks, what was your marketing approach to get this lead? Letters? Calls? How many leads did you have to contact to get this one,?

Terry, sorry for the late reply.
About 500 letters went out.
Maybe 15 calls.
1 deal.

The response rate was expected, but I think we got a deal out of 15 calls because this is a very targeted list, and I think mostly untouched in my area.

Terry Royce

Real Estate Investor · Baltimore, Maryland

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Nov 25 '10, 09:52 AM

Brooks of the 15 calls how many were not "hostile" also, what time after the estate was opened were you contacting them?

How were your letters angled?

I was just thinking of doing postcards, to graze over the death issue.

Brooks Conkle

Real Estate Investor · Mobile, Alabama

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Nov 29 '10, 12:14 PM

Interesting enough Terry, only 1 unhappy caller.
I'm sending out a very considerate message.
I get my leads from the courthouse, not the paper.
It's interesting because they show up in courthouse records based on when the probate was started, Not a certain time after death.
Now some may be recent deaths, but others (when I gave my condolences for their death on the phone) had passed away years ago, and they had just started the probate process.