Writing an effective YELLOW LETTER

3 Replies

Hello Everyone,

So I started to do some research on yellow letters. The letters seem TOO generic. I'd like to add in something showing empathy but not too deep where it would irritate someone. Something along the lines of "I understand this may not be an easy time and I would like to help." Is that too much?

Also, where could I do some research on the specific property to find out what the situation of the foreclosure is so that I can make the letter more personalized.

That'd be awesome!

Thanks in advance!

Stephani

@Stephani Dias

If you're doing a bulk mailing, you probably don't want to get to personalized in any campaign.  Your letters need to hit a happy balance between friendly and professional.  People in dire situations want empathy, but they also want someone that inspires confidence.  Their friends and family are probably empathetic, but they are no help.  They want someone who can fix their problem.  

Since Texas is a non-judicial foreclosure state, we can't even find out a property is in default, until the auction notice is filed.  I don't know what information is available to you in MA.  However, having spent 20-years in banking, I can pretty much guarantee you that you're not going to get any personal information about why someone hasn't paid their mortgage.

My recommendation is, rather than spending time trying to figure out what led them to the place they currently find themselves, focus instead on the message that you can help solve their problem.  In the end, that's all they want.  They want their problem to go away.  They don't want to cringe every time the phone rings.  They want to sleep through the night.  If your campaign is geared toward foreclosure/pre-foreclosures, focus on the problem and the fact you may be the solution.

The most effective yellow letter is the one that goes out consistently and repetitive. Frequency is more effective than messaging. Telling your prospective seller over and over again that you are ready and willing to buy is better than telling them you empathize with their situation in one well researched letter. I often tell my team it's better to send 10 people the same letter 10 times than to send 100 people one letter one time.

Thank you very much for the insight!!

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