Does anyone here have any experience marketing to Short Sale leads? I'm putting together a direct mail campaign targeted at homeowners who are in preforeclosure and could really use some insight.
My thoughts are that 2500 6x11 postcards monthly should be enough to get the phone ringing.
Be careful not to indicate on the mail piece that you know they are short candidates or youll get some unhappy callers.
This type of marketing is where the zip letter is so great.
I don't mind the getting a few angry calls if there are also a few deals to be had.
However I do see the value in using a discreet zip letter over an oversized postcard for something this sensitive.
How customizable are they? I'm a webuyhouses.com licensee and would want to insert some branding. I'd also want to change the content to something that may be more targeted to their problem.
You might want to target a list of people who bought in 2006-2007 that have little to no equity.....they likely get a lot less mail than the NOD list, so you would likely get a much higher response rate......good luck.
@Elio L. completely
angry callers are the least of your worries, its the old man whos on disability that has nothing but time to file a lawsuit for predatory sales tactics...
Short sales leads are sensitive people as they should be...Just be careful what you put in the letter, don't tell them you want to help them, don't give them legal advice, if your looking to buy their property make sure that's all you tell them.. There are laws about that, majority of short sales are likely -preforclosures...I try to tell everyone about my experience, I could have been hit hard with a lawsuit...Of course not knowing the laws and not doing enough research...
Good tip. Another benefit to being direct about what I do and my intentions for the transaction would be that the homeowners who call will be more qualified. What kind of mailer did you use? What were the parameters of your list? What response rate did you get?
Its funny you asked i just wrote a post on it the other day....I sent out 460 letters, they were more professional letters with confidential stamped on them...My responce rate was a little above 50% sounds good huh?..Well every caller either said,"i will sue you if you every contact me again" or "my lawyer will be contacting you"...Most states really protects homeowners in forclosure....I was lucky no one actually went through with it, but i did get a couple complaints to the attorney general....I forget my exact criteria but i do know i spent alot of of time targeting the right leads..but I personally will never do them again its not worth the risk, there are alot of better sources of leads...
Free eBook from BiggerPockets!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!