Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
13y
I have apprehensions because any system that is made super easy and highly accessible to the general public has the potential to become over-saturated very quickly. As an example, on this program you can target high equity vacant homes and mail the letters with just a credit card and a few mouse clicks. Great right? But how many other people are on their laptop with a credit card doing the same thing? How many other people think this is so great and they're right beside you mailing the same addresses with the same letters? Nobody is able to scrub their list to filter out duplicate addresses, that is, addresses that others in the system have or are about to mail to. It would be fantastic if Kent had incorporated this scrubbing into the system, but no such luck. And, of course, that would cut down on the profits that are being generated from the mailers.
In this business the more work you have to do to get the leads the less competition there is, which equals a higher response and more high-quality deals. Conversely, the easier it is to get the leads the more competition moves in and the effectiveness of that strategy dwindles. The real deals in this program may very well be found in skip tracing the owners of the returned mail. That's additional work, and more work means most others won't do it.
Real Estate Investor · Redondo Beach · Member since 2012 · 37 posts · 18 votes
13y
For skip tracing I have used findtheseller.com They charge about $20 for each skip trace and they are pretty quick. It has been a while since I used them, but I remember it only took about 24-48 hours to get the results and I don't remember getting bad results from the few that I did.
Commack, NY · Member since 2013 · 20 posts · 5 votes
13y
Hi everyone just a tip on a site for tracking property owner that can't be reached by mail it's called Intelis they give you a 48hr tril with unlimited searches!!
The service is 19.95 per month cancel any time.
Camarillo, CA · Member since 2013 · 27 posts · 3 votes
13y
Steven- are you finding the info on Intelis to be accurate? My initial experience (over two years ago) with that resource left me questioning. I was, however, using the free search option available at that time.
Thanks!
Kansas City, KS · Member since 2013 · 2 posts · 1 vote
13y
I was on the webinar as well, i posted the replay link below (i hope it works). Seems like a fantastic product, but I haven't made the investment. I just received an email as a last chance to get it at the price offered. Now I'm really debating if I should go forward. I like that it has all the letters already created and a 3rd party to mail them if needed.
Real Estate Investor · Deer Park, TX · Member since 2013 · 30 posts · 4 votes
13y
Leonardo Cadenazzi skip tracing is really just a fancy way of saying locating a person's whereabouts. The "skip" is the person who is missing or cannot be located. The trace is just that, locating or tracing them at their new location. Alot of different professions use skip tracing efforts: debt collectors, bounty hunters, repo men, PI's, on and on....
Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
13y
I have apprehensions because any system that is made super easy and highly accessible to the general public has the potential to become over-saturated very quickly. As an example, on this program you can target high equity vacant homes and mail the letters with just a credit card and a few mouse clicks. Great right? But how many other people are on their laptop with a credit card doing the same thing? How many other people think this is so great and they're right beside you mailing the same addresses with the same letters? Nobody is able to scrub their list to filter out duplicate addresses, that is, addresses that others in the system have or are about to mail to. It would be fantastic if Kent had incorporated this scrubbing into the system, but no such luck. And, of course, that would cut down on the profits that are being generated from the mailers.
In this business the more work you have to do to get the leads the less competition there is, which equals a higher response and more high-quality deals. Conversely, the easier it is to get the leads the more competition moves in and the effectiveness of that strategy dwindles. The real deals in this program may very well be found in skip tracing the owners of the returned mail. That's additional work, and more work means most others won't do it.
Commack, NY · Member since 2013 · 20 posts · 5 votes
13y
Jerry you are absolutely right the returned letters are the golden nuggets now the P I needs to be done! These property owners left there property and these houses haven't hit the radar yet.
As far as being over-saturated you need a ton of marketing $$... most who purchase this program aren't mailing the US all at once, there mailing small batches.
Real Estate Investor · Deer Park, TX · Member since 2013 · 30 posts · 4 votes
13y
Anthony Z., Leonardo Cadenazzi and all interested... I believe that folks have started receiving the letters I mailed on 07/03 as I am getting calls today. Here is my dilemma. So far only about 50% of the calls I've gotten have been for vacant properties. The list I mailed was for vacant with high equity. Now I know that either way I am potentially getting a motivated seller on the line, so it may not be an issue. However, I PAID for vacant w/high equity. Scratching head and looking puzzled. LOL. Nonetheless calls are coming in and (fingers crossed) I am getting calls!
Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
13y
Jennifer Gibbs Thanks for the update! That's interesting about only 50% being vacant. I wonder if they were vacant the time the data was pulled and someone recently moved in or if the property has never been vacant? Nevertheless, good to hear the phone is ringing.
I know you said you did a 700 piece mailing. Let us know what your response rate is and how many deals you pull out of it!
Residential Real Estate Agent · Fort Worth , TX · Member since 2012 · 211 posts · 152 votes
13y
Originally posted by Jennifer Gibbs:
So far only about 50% of the calls I've gotten have been for vacant properties. The list I mailed was for vacant with high equity. Now I know that either way I am potentially getting a motivated seller on the line, so it may not be an issue. However, I PAID for vacant w/high equity.
This is my precise problem with the program. To make matters worse the price tag is fairly high ($1,000) and there is no evaluation or trial period for the product. I would be less apprehensive if I was able to try the program out, print out a list, and drive a good number of the properties to ensure the majority of them are indeed vacant. But reports such as this confirm my suspicions and state otherwise.
Commack, NY · Member since 2013 · 20 posts · 5 votes
13y
anthony, SC I got seven calls out of 180 NY/NJ got seven calls out of 81 . Intelis it's work made a contact with property trying for short sale left message, he called me back. There are a good amount of letters come back undeliverable some I can't get info from intelis .
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
13y
Just common sense tells you...there's no way a system using public records, private records, whatever can know if a property is actually vacant. Abandoned for years, maybe.
Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
13y
I wonder if it would be better just to send a Yellow Letter vs their letters? I don't see how deviating from the YL would make the response any better. If anything, I would like it would make it go down. YL response rates are better than any other marketing piece I've ever seen.
Commack, NY · Member since 2013 · 20 posts · 5 votes
13y
Enlighten me what the difference of a yellow letter to the letters we send out? I have gotten feed back from callers saying the letter I sent to them did not look like bulk type marketing, or junk.....
Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
13y
Yellow Letters look hand written and have a very "I'm the guy down the street that wants to buy your house" look to them. I think that every hand that the letters gets into the mail gets opened - 100% readership. And I'm sure their first reaction is - "What the heck is this?" And rightly so. Most people have never seen anything like that, except for maybe 20 years ago when they had a sweetheart in high school pass them a handwritten note.
I can't tell you how many times I've got voice mails that said, "Hi Jerry, I just got the note that you left in my mailbox." Alot of callers really think that I personally walked up to their mailbox and stuck it in there. Funny. In fact, I often get messages that say, "Please do not trespass on my property." I just got one of those yesterday. (and still kinda funny)
When I call them, they sort of are taken aback by the fact that I'm asking them about the property. "You already saw the property, so you already know what it looks like from the outside" is the comment I often hear. So I'm on Google street view saying... "Oh yeah. I remember. The one with the yellow siding."
On top of all of this, my responses range between 15-20%. And yes, you get alot of "What's this about?" calls. Regardless, responses are responses in this biz. I dropped 25 expired listing letters on Saturday. 5 calls so far. That's 20% response. 1 appointment so far, and still working on the other leads. I personally wrote these 25 mailers. Took me about an hour over the morning's coffee.
I just don't know how you can beat that. My opinion.
Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
13y
Yellow Letters look hand written and have a very "I'm the guy down the street that wants to buy your house" look to them. I think that every hand that the letters gets into the mail gets opened - 100% readership. And I'm sure their first reaction is - "What the heck is this?" And rightly so. Most people have never seen anything like that, except for maybe 20 years ago when they had a sweetheart in high school pass them a handwritten note.
I can't tell you how many times I've got voice mails that said, "Hi Jerry, I just got the note that you left in my mailbox." Alot of callers really think that I personally walked up to their mailbox and stuck it in there. Funny. In fact, I often get messages that say, "Please do not trespass on my property." I just got one of those yesterday. (and still kinda funny)
When I call them, they sort of are taken aback by the fact that I'm asking them about the property. "You already saw the property, so you already know what it looks like from the outside" is the comment I often hear. So I'm on Google street view saying... "Oh yeah. I remember. The one with the yellow siding."
On top of all of this, my responses range between 15-20%. And yes, you get alot of "What's this about?" calls. Regardless, responses are responses in this biz. I dropped 25 expired listing letters on Saturday. 5 calls so far. That's 20% response. 1 appointment so far, and still working on the other leads. I personally wrote these 25 mailers. Took me about an hour over the morning's coffee.
I just don't know how you can beat that. My opinion.
So the answer to your question is this: RESPONSE!
Real Estate Investor · Deer Park, TX · Member since 2013 · 30 posts · 4 votes
13y
Steven Gottlieb, Did they not mail you a copy of the letter you are sending out? I received a copy of the letter, and at first I thought a letter got mailed to me (and was a little miffed but after looking at my list realized it has to be just a courtesy copy).
Jerry Kisasonak I just received a sample packet from Yellow Letters but haven't had a chance to open and go through it. Seems they're another great source for mail marketing (without having to buy a program)...
Anthony Z. Yes I don't mind that my phone is ringing with potentially motivated sellers but I really do wish it would have been precisely what I'd paid for. I am getting a lot of "maybe I'd entertain an offer but it'll have to be a real good one" kind of responses ;) I am definitely going to track this carefully.
Chris Feltus, I guess there are programs out there that can accomplish a similar result for you. Anytime you do mass mailings you're going to get some results that are not valid, especially when you rely on the results of public records, etc. Especially when the state takes their sweet time to update and / or record records. I will not say I would have done it differently but as Jerry K. mentioned the Yellow Letters program may be another good option for mailing to specific opportunities without having to make an investment into a program. I'm going to give it some time and my bet is that it'll pay off ... with time ... It's not going to happen overnight. ;)
Residential Real Estate Agent · Mc Keesport, PA · Member since 2012 · 449 posts · 154 votes
13y
Jennifer Gibbs Thanks for the update! I am starting to stray away from the idea of buying this program based on the responses that I'm seeing here. Sure, the lag in time for reporting information will result in some bad addresses, but it seems that the lists that this program is providing is excessively inaccurate which will lead to too much waste in advertising dollars.
In the direct mail space, the quality of the list is everything. I can get on to ListSource/Corelogic and pull a list and be fairly confident of 95%+ accuracy based on my experience with them. It's laser-like. Based on that, it doesn't seem logical to buy into a program where at least 50% of the mailers are not reaching their target - that is, vacant properties.
Real Estate Investor · Deer Park, TX · Member since 2013 · 30 posts · 4 votes
13y
Steven Gottlieb ~ yes, I guess since you mailed your own it worked a little differently. The mailing service actually mailed me a copy of my letter, addressed to me, as if they were marketing to me. It was addressed to me, my property was listed in the body of the letter, etc. Was professional and nice... just curious, but forgot you mailed your own ;)