what should I make sure to say or include in my yellow letters
Keep it simple like the one below. Your list is more important.
We have tested every type of copy and the standard one always pulls the best. Most calls and highest conversion rate.
What you want
thanks @Shane foster
@Sackie Makor First I will not mention anything about "I Buy Houses" most likely the mail will go directly in the trash. "not always" but most times. Just come in listing a few problems all home owners face on your card, and tell them to come over to your website for the solution. This is the best way to get people to take action without scaring them off....its called educating them versus selling. Big Difference
We've split tested tens, if not hundreds, of thousands different variations of either a handwritten yellow letter or a typed letter over the years. Based on our experience here is what we've found...
Handwritten yellow letters certainly get your phone to ring more but the quality of those leads isn't as good as a typed letter. We found that we not only spent a lot more time on the phone with unmotivated sellers but we also had to send a lot more handwritten letters to get a deal. Because we do a good amount of volume with letters our time is very important and we don't want to waste it with unmotivated sellers.
Our own conclusion was a very well written typed letter does a few things, first, it weeds out unmotivated sellers. By adding a few simple sentences like, "Our business is based around dealing honestly and fairly with everyone we encounter. Our goal is of course to make a profit on our investment; however we want every transaction to be a win-win." we're able to say to subtly say to the person, we're going to make money so we won't overpay for your house, but we aren't going to rip you off either. That's just one small example of important messages we have in our letter, you just can't get that much into a handwritten note.
Secondly, wholesale deals are almost always going to be solving a problem for someone. It's EXTREMELY rare for a seller to call and say, "hey, I have the nicest house on the block with a great tenant, I want to sell it at a wholesale price!" The seller will probably have some type of issue, it might be a title issue, unpaid taxes, code enforcement, eviction, probate, ect. A typed letter just looks more professional and, in my opinion, gives the impression that you're a professional company who can solve problems. Someone who feels like they have a difficult problem might be less inclined to call a "mom-and-pop" type operation.
We've also found that a handwritten font on an envelope takes nearly double the amount of letters to get a deal done. An actual pen hitting the envelope makes a big difference.
Again, this is just my opinion based off of our experience. One of the biggest things I see that gets overlooked by new wholesalers is the importance of a great letter. Getting the letter opened is obviously important but what your letter says is critical. There's a reason why major national companies spend millions of dollars hiring ad agencies. They know how important their advertising message is to the consumer.
Keeping it simple as @shane said. I would also add a quick note on the follow-ups.
I'd say that over 40% of your calls happen on follow-ups. Keep track of your leads and refer to your last letter(s) sent. Something as simple as "I sent you a letter last week, I still want to buy your house"
Once a week for 4 weeks straight. If they don't call put them on a monthly follow-up. "I've been trying to contact you for some time now, I hope everything is ok. I still want to buy your house"
Consistency is key.
I'm in the "Typed Letter" camp with Account Closed
Most important is having a good list, or as copywriting legend Gary Halbert said, "A starving crowd".
If your objective is to get people call you, then the yellow letter make out pull the standard letter. However, I'm not interested in talking to anyone except the guy with a problem that he knows I'm the right person (and the only person) the resolve it.
A typed letter with a well-crafted headline opening sentence and targeted USP will do make me more money by attracting better qualified prospects and fewer time wasting calls.
thanks everyone for the advice ill work on a couple drafts and see which one I like best
I made a newbie blunder. I sent out a batch (50-70) of yellow letters, typed, with THE WRONG PHONE NUMBER. I used the wrong area code, and the number that rings is actually an old out of service IBM number.
Opinions on how I can recover or can I?? I was thinking of sending out follow-up letters or postcards with the correct phone #.
You could do a follow up letter explaining the error. I don't think most people would care that much. If it was me, I would make it sound funny, let people relate to an honest mistake.
We once sent out 1,000 letters with the wrong "subject" address. It said, "I am interested in buying your house located at 1234 main street...". The problem was every single letter had the same address so we got a ton of calls from people telling us they didn't own the property. It wasn't that big of a deal, nobody was upset and lots of people had a good laugh.
I agree with @James Green. You might of lost just a couple of calls (depending how good the leads are) but I wouldn't worry about it too much. Explaining the error on your next letter might help recover them. A little human touch never hurts.
I meant @Braden C. Haha
Thanks, I know just how I'm going to do it! I'll let you know how the follow up works!
@James Green A mistake is an opportunity to show a lead that you are human, and by your confessing allows them to be human and share their mistakes with you.
You are damn lucky because you can even leverage this into a reason to call each and every, if you are so motivated.
Your error is absolutely a gift. PLEASE don't squander it by not following through. When gems like these occur, you have to seize the moment and exploit the opportunity.
Do I have to bait you further?
Thank me later.
Those in the TYPED letter category... What are a few things you MUST include in your letter? I generally use yellow letter unless mailing to probates, then I use the typed. Any suggestions to improve the quality of leads is appreciated!
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