Best Way to Sell Property: Postcard Input

6 Replies

Hi everyone,

Really need some advice before we plunk $1900 on advertising.

I'm looking to use EDDM (every door direct mail aka presorted standard, I think) for the first time.  I'm looking to send about 5600 6.5"x9" postcards to various areas in Southern Louisiana and I was hoping that the BP community could give some insight as to how successful this would be.

This is what the postcard looks like (front/back), and it ends up costing around 33 or 34 cents a postcard.  I just have a hard time trying to figure out what works in Louisiana since it's such a huge potential investor community.  

My heart kinda hurts when I think of $1900... It's so much money on a huge gamble.  But we don't know how else to do it since we've seen places on the market for months at a time out there.  We are out of state investors with family ties to Louisiana and we're  trying to buy a bigger home where we are since our family just grew (yay!), BUT the real estate market where we are is crazy, so in order to have a chance to compete, we need a bigger chunk of change as a down payment.  If you have any suggestions on what works in Louisiana (or if you have any updates on my postcard that you think would catch people's eye), please please let me know.  Open to any suggestions!!

Thank you all so much in advance--

Lynne

EDDM is about the least targeted list of people you could possibly mail to.  i can't imagine any percentage of local residents would have the interest or means to buy something like this.

As an active investor and a licensed realtor I can tell you that this would be a complete waste of money. Regardless of the type of property you are looking to sell, sending out a postcard to every door in a certain area is pointless. You have no way of knowing if the people you are mailing to are interested in buying or can even afford to buy.

Finding buyers for any property is not difficult. There are TONS of buyers out there looking for all types of properties. Any property that sits on the market without selling is due to it being overpriced. If it’s priced right it will sell and it will sell quickly.

I know investors looking for this type of property. Send me the info on it and I’ll see if they are interested.

Originally posted by @Lynne C. :

Hi everyone,

Really need some advice before we plunk $1900 on advertising.

I'm looking to use EDDM (every door direct mail aka presorted standard, I think) for the first time.  I'm looking to send about 5600 6.5"x9" postcards to various areas in Southern Louisiana and I was hoping that the BP community could give some insight as to how successful this would be.

This is what the postcard looks like (front/back), and it ends up costing around 33 or 34 cents a postcard.  I just have a hard time trying to figure out what works in Louisiana since it's such a huge potential investor community.  

My heart kinda hurts when I think of $1900... It's so much money on a huge gamble.  But we don't know how else to do it since we've seen places on the market for months at a time out there.  We are out of state investors with family ties to Louisiana and we're  trying to buy a bigger home where we are since our family just grew (yay!), BUT the real estate market where we are is crazy, so in order to have a chance to compete, we need a bigger chunk of change as a down payment.  If you have any suggestions on what works in Louisiana (or if you have any updates on my postcard that you think would catch people's eye), please please let me know.  Open to any suggestions!!

Thank you all so much in advance--

Lynne

Good to meet you.

It is always tough when you ask for advice as you also must be prepared for the answer. 

I too would say EDDM for what you're wanting isn't the way to go. It's great for pizza and hair salons however not selling a specific piece of real estate.

I would however send a postcard to the following list of property owners. There are about 400 addresses.

It is compiled of all 5-500 unit owners who own property in Louisiana and who have bought within the last 11 years. Notice that the list also shows the people who own multiple locations. They are your prime prospect. 

List

With all of this said a Brokerage may be a better way to go. In the multi-family market getting your property on Loopnet is key... 

@Stephen Leonard —thanks so much for the lead regarding big boy blast! I’ve never heard of it. Will be researching tonight. 

@Wayne Brooks —appreciate the input. What I didn’t mention was that I did a lot of demographic research for the areas I’m sending postcards to. Basically areas with homeowners that have the financial means to purchase an investment of this sort. Unfortunately, to your point, they might not have the desire since they might simply not be investors... any thoughts on how to filter more?

@Braden Smith —I PMed you. Look forward to chatting. 

@Michael Quarles —thank you so very much for the mailing list!! I’ve developed my own based on the area, but it is ridiculously tedious!!! This is in addition to my EDDM routes, so I’ll definitely add this to my database. I really appreciate this a lot! I also appreciate the loop net lead as well. 😊

Please keep the ideas coming! So is there any way/any scenario where these postcards are a good idea?

I agree with everyone about EDDM. While you can go in and pick the carrier routes with higher average homeowner vs Renter, average income etc, based on census data, it still goes out to everyone - regardless of their status. 

You might do better to spend more per piece and drastically reduce the quantity. If this is the type of home that could be considered for a first-time home buyer consider these criteria for buyer leads.

  • Renter
  • 3+ year residence
  • Age 28-49
  • Income (research qualification for your asking price)
  • High Financial Stability Score (FSS)