Investor · Wauwatosa, WI · Member since 2013 · 53 posts · 9 votes
I'm learning about probate and currently working on my letter. I've heard different recommendations on what or what not to include.
Some people recommend including you business letterhead and so that follows that you identify yourself as an investor and your company name, address, etc.
I'm use to yellow letters where you are trying to portray that you're a neighbour down the street interested in their home and not a big bad investor looking to gouge them. So including business information doesn't quite feel right.
So I'm pretty much looking for a consensus from those that have been there and done that.
Include company information, business card, flier, webpage or just my name?
We're a business, we're professionals, and our probate letters make that clear. We send them in plain white envelopes, nice font, with a real stamp. They get opened and they call us.
Anyone who thinks you can't do this and be a "business" has not done any marketing as a business. We are talking about a significant asset - probably the largest asset held by the estate. They might call you from a handwritten letter or whatever. But don't think they won't call if you look like a "business". Probate is a very sucessful form of marketing for us, and we emphasis the trust and confidence that comes from working with a professional in this business. And unless you are just playing around here, it IS a business.
I send out regular white typed letters stating that I'm an investor interested in purchasing their property that's in probate. Do what you feel suits you best I don't send out sympathy letters. I get straight to the point
In case you haven't searched the BP site already, I strongly suggest you read what others have posted on this topic which has been covered repeatedly.
Think through how you believe your letter recipients will see your letter: from a small investor, real estate licensee, a business, etc. you've gotta pick.
Letters are private; postcards are read by all who see it. Both have their place. Go to a printing supply store like Kelly paper and see what type and quality papers and envelopes match the look and feel you seek.
Nowadays it's not unusual for people to receive lots of letters so you'll want to both stand out and send a sequence of timed messages.
Lastly, test--test--test! Response rate, high or low, tactfully probe your callers about what matters to them and develop unique sales propositions around those key points.
Thanks for the response @James, I think I will stick to a letter and let them know I'm an investor. I like straight to the point as well. I know if I were to receive a sympathy card from someone looking to buy my home, I wouldn't believe it, it would just tick me off.
Now I'm in the process of starting yellow letter marketing and postcards.
I'm going to send postcard to people that inherited properties and owe back taxes. My yellow letters are hand written now instead of typed. It's more time consuming than just changing a few names and hitting the print button but I think they're more personal.
I have not done probates but am looking into doing that as I expand my mailings. Generally I have heard people using more "professional" letters for that.
Tagging @Sharon Vornholt since she does very well with that niche.
Tom Bujnowski that works for all mail to any seller. I've had people tell me they called me because my letter was genuine? I also use the old typewriter font. Makes them think I was hammering away just to tell them I'm buying houses. Love it.
Color of paper has not moved the needle.
I only use white letters with hand addressed envelopes for my probates. Portraying yourself as a small local business has never caused me to lose a deal. And I strongly believe that coming across as a professional is a bonus. You need the ability to connect with the seller face to face. But like the other folks said, your mail piece has to be opened first.
People dealing with estates have lost a loved one. I personally don't like sending them postcards because you come across as insensitive which is one strike against you before you ever get started.
Another thing. Don't stop with one letter. Send a series of letters every 3-4 weeks building on the previous one. Address the needs of the executor - how you can help them. Try to differentiate yourself from the marketplace.
Study people like Jay Abraham, Dan Kennedy and Gary Halbert.
TEST -TEST - TEST. See what works.
In my opinion there is not ONE size that fits ALL!
I only use white letters with hand addressed envelopes for my probates. Portraying yourself as a small local business has never caused me to lose a deal. And I strongly believe that coming across as a professional is a bonus. You need the ability to connect with the seller face to face. But like the other folks said, your mail piece has to be opened first.
People dealing with estates have lost a loved one. I personally don't like sending them postcards because you come across as insensitive which is one strike against you before you ever get started.
Sharon
How "business like" do you make the letters?
Just white and typed but still with that individual feel you would try to with a yellow letter or more professional sounding?
If more of a business would you format it like a business letter and maybe even have a professional looking letterhead with a business logo?
Hand addressed envelopes makes sense and a live first class stamp I'd guess. Do you handwite a return address or are labels okay there?
It is very important to follow up your letters multiple times. In many cases I'll get a call from someone 12 to 18 months after I sent them letters. I've had discussions with @Sharon Vornholt quite a few times about how many letters to send and have found that I've been cutting myself short. If you can afford it, it's worth the effort to keep sending letters until they either sell the house or tell you to take them off the list.
@Shaun Reilly - I just use a white letter with my company name and address printed at the top. I personalize every letter with their name and the property address. I want to look professional, but also keep the tone conversational and open ended. Try to let them know you will be there when they are ready to sell. I would test it and see what works.
@Scott Costello - Yes we have talked many times about direct mail and direct mail campaigns. Mailing monthly until the house is sold is what I do. That typically happens by the 18 months have passed. But I have a few people on my list where the executor is still listed as the contact person on the tax assessor's site, they don't live in the house and it is obviously not sold. I keep mailing those folks. I have been working on my database today actually.
Some people don't even start to think about cleaning out the house for a year or more, and those are typically free and clear houses. I think most folks quit way too soon.
We're a business, we're professionals, and our probate letters make that clear. We send them in plain white envelopes, nice font, with a real stamp. They get opened and they call us.
Anyone who thinks you can't do this and be a "business" has not done any marketing as a business. We are talking about a significant asset - probably the largest asset held by the estate. They might call you from a handwritten letter or whatever. But don't think they won't call if you look like a "business". Probate is a very sucessful form of marketing for us, and we emphasis the trust and confidence that comes from working with a professional in this business. And unless you are just playing around here, it IS a business.
awesome topic and thanks for sharing. Do the letters need to be on high quality white paper or will plain copy paper due if the letter is nicely formatted?
I send out regular white typed letters stating that I'm an investor interested in purchasing their property that's in probate. Do what you feel suits you best I don't send out sympathy letters. I get straight to the point
Hello Dale, Have you ever tested typed vs hand written? If so, which was better?
Folks need to get over the idea that they are at a disadvantage if they are a business or if they portray themselves as a business. Like @Dev Horn and I were discussing earlier; it's a real person that shows up at the door - not a business. And it is that person's job to earn the sellers trust.
People actually feel confident about the deal when they are doing business with someone that they know has a real business.
I also only use professional, computer generated white letters. (It's fine to use copy paper). I want to look like I am professional; trustworthy, reliable and one that can close the deal.
I sometimes wonder if people are pulling my leg when they ask questions about using cheap paper, cutting corners, etc.
There's nothing stopping someone from printing on paper towels from the men's room (if they don't jam in the printer) however, here's the test: eould you want to sell your house to someone who is concerned about whether their letter cost 1 cent versus 3 cents?
Why ruin a great chance to make a deal with a weak link in your efforts? You don't have to be extravagant, just business-like.
If you want to attract money, don't get caught acting cheap. I had a friend who was rather high profile guy, net worth close to $1B but was a lousy tipper and always cheap. Gives being rich a bad name. I Avoided dining out with him.
I've been doing probate investing for a long, long time. Send a quality mail piece once a month until the house is sold. It really is as simple as that. People settle estates on their own timetable. You want to still be in the game when they are finally ready to move forward.