Phone Ringing Off the Hook From Yellow Letters

29 Replies

Hey everyone.  Just wanted to write about my first day experience with www.Yellowletters.com.  So I ordered around 800 or so yellow letters just to start off a couple of weeks back, and I was getting worried because I hadn't received any calls from them yet.  Today was a completely different story.  I knew the yellow letters had reached their destinations because my phone has been ringing all day long!  I have a few promising prospects from my calls today.  Had to go back and listen to podcast #77 with Michael Quarles to get some tips on how to capitalize on these leads.  Anyway, great service and awesome podcast.  Will definitely be using the yellow letters again.      

@Jay Hinrichs most definitely!  Not a call has been missed as of yet.  Following up on every lead I have.  Looking forward to more calls tomorrow.  Between the yellow letters, bandit signs, and web marketing, I'm growing my business pretty quickly!  Practicing to get better day by day, especially with my negotiating skills. Thanks for the advice.  I love getting help from the pros.  :)

good luck to you... the harder and more diligent you work the luckier you get.

watch the movie and get a perspective of real life sales in the day... It was the environment I was raised in... :)

Originally posted by @Michael Hayes :

Hey everyone.  Just wanted to write about my first day experience with www.Yellowletters.com.  So I ordered around 800 or so yellow letters just to start off a couple of weeks back, and I was getting worried because I hadn't received any calls from them yet.  Today was a completely different story.  I knew the yellow letters had reached their destinations because my phone has been ringing all day long!  I have a few promising prospects from my calls today.  Had to go back and listen to podcast #77 with Michael Quarles to get some tips on how to capitalize on these leads.  Anyway, great service and awesome podcast.  Will definitely be using the yellow letters again.      

 Keep it up. Out of curiosity, how much did 800 yellow letters cost?

Sean

Calls are good, but not the full story.  To evaluate your marketing, ultimately it all comes down to COST PER DEAL and your PROFIT.

If you send out 800 letters:
1) How many CALLS do you get?
2) How many of the calls are actually motivated seller LEADS?
3) How many of the motivated sellers turn into DEALS?

If you get 1 deal from a marketing spend of $800, your cost per deal is $800.  If you make $2,400 on that deal (assignment fee), your marketing is 25% of your income.  This is what really matters, because once you understand the metrics, you'll know that for every dollar you spend on marketing, you're making $3 profit or whatever.  If that's the case, you'd do that all day long, right?  Spend $1 to make $3?  That's a business!

So, be encouraged by your results here - Michael offers an excellent program.  Now follow them thru and run it like a business.  It's all about the money!

@Michael Hayes Great job and i'm happy to see you getting some form of results. Think about send those people over top your website that will include all info about your services. This will force people to take a look, and eliminate al the tire kickers. 

Originally posted by @Michael Hayes :

Hey everyone.  Just wanted to write about my first day experience with www.Yellowletters.com.  So I ordered around 800 or so yellow letters just to start off a couple of weeks back, and I was getting worried because I hadn't received any calls from them yet.  Today was a completely different story.  I knew the yellow letters had reached their destinations because my phone has been ringing all day long!  I have a few promising prospects from my calls today.  Had to go back and listen to podcast #77 with Michael Quarles to get some tips on how to capitalize on these leads.  Anyway, great service and awesome podcast.  Will definitely be using the yellow letters again.      

Can't wait to have this happen to me!

Originally posted by @Jay Hinrichs :

@Michael Hayes

  answer those calls follow up on every lead... don't judge them... until you have met them.

watch the movie glen Gerry glen ross to understand the value of leads.

 I am going to search for this movie now. 

@Antonio Coleman that is a great idea.  I've had some promising calls but I don't think I filtered my list enough.  I have had several other investors to call me and just "see what the offer may be" or who want to sale at full market value, and I've had callers to call just to tell me how displeased they were that I sent them a letter -_-.  Your suggestion will definitely help to weed out anyone who is unmotivated, but I also plan on adding some more criteria to the next list to target people who may truly be motivated and not just to absentee owners.

@Sean White it was actually 926 letters I had sent out.  I'll message you the price though.  It was a great deal if you think about the time and materials involved in doing it.  From time to time I will write my own yellow letters, but it takes HOURS to even get a fraction of an adequate amount done. 

@Dev Horn agreed!  I'm actually working out a deal now to buy a house from a seller who agreed to carry the note for an awesome price.  House is in a great area, rents well, and doesn't need much repair.  So even if this one deal closes, the yellow letters have already paid for themselves.  As said before, I now know I need to narrow my mail out list a little more to target the TRUELY motivated sellers.  It's a learning experience though.

Based on prior experience, how would anyone rate the response rate using Yellowletters.com when marketing to probate leads? Can anyone comment?  I'm currently evaluating alternatives for a direct mailing service. Thanks. :)

@Michael Hayes and anyone who can offer advice. How do you handle those calls from people who are displeased that they got one of your letters? To clarify, I mean how do you handle those efficiently and effectively considering that while there may be no deal now, this is still a potential lead in the future that could potentially create other leads if handled correctly. 

@Zlatan Omeragic I wish I could answer that with a great alternative.  Truth be told, the situations were someone was displeased or just skeptical haven't been numerous, but they made it so very awkward that I had no idea what to do!  Take this scenario...

(Phone rings)

Me:  Hello you've reached Michael!  :D

Very angry lady:  Um yes I received a letter from you, and I just want to know WHY you sent me this?!  Does it look like I have a for sale sign in front of my house?! >:{

Me:  Well no ma'am I.....  O_O

Very angry lady:  My house is NOT for sale and I don't need you sending all this trash to me!!! >_<

Me:  Ok....well I tell you what.  I do apologize.  If you would give me the address and I will make sure you don't receive anymore mail if you are not interested in selling your house. :l

Very angry lady:  PLEASE take me off your list!!! >_<  My address is (insert random numbers and a street name that is said way to fast to be audible).

Me:  Thank you very much.  I will take care of that for you right now.  :/

Very angry lady:  (Hangs up with the force of the Hammer of Thor)

Me:  :,(         <<<<< Me crying is the only part of this story that  didn't actually happen but you get the idea.  Nobody likes to be thrown into such an awkward case.  So I want to know what the best way to handle this is too.  On another note, other investors will call and make it an uncomfortable situation too, even though they should understand what you are doing.  I think this subject could be a whole other forum post though.

Glen Gary glen Ross lol. I have sometimes thought that the optimism on this board reminds me of that movie. Especially the part where Kevin Spacey tells his overexcited sales person that the great lead was crazy. I feel like every now and then somebody comes in here like that hotshot salesman Who makes it look so easy. Great movie

Account Closedhad the best reply I've ever heard to respond to angry callers. After chewing him out he politely said "ma'm, May I ask you a quick question?. Do you call dominoes pizza and yell at them when they send you mail? Because they are actually trying to take your cash. I'm trying to give you my cash."

That's a great response to someone who calls and yells at you for mailing them. I've never understood why people take the time to call and complain when you send them mail...

Here is the One Thing you have to understand about angry callers - They're generally just angry people. They have no one around them any longer except a deaf husband/wife (if that person didn't run away a long time ago), the kids have all moved out of state to escape, and his/her only friend is the dog or cat (who also may be deaf!). When you mailed this person, to him/her it is an invitation for a conversation and that equates to their One Thing - yelling at you. (You technically asked for it!)

There is an exception to this rule (as always!) and this is why you should take your licks. If you are writing specific copy, such as a letter to landlord doing an eviction, code enforcement lottery winner or maybe a foreclosure "victim," the copy may have irritated this person because it re-ignited the pain of what he/she is going through. My best suggestion is to let him/her vent and get it all out of the system, then politely ask, "Are you done?" Depending on the response, you'll either have to wait longer, get hung up on, or have a chance to ask some vital questions that just may get you a deal. Be patient, be polite, and see if this angry person is really redirecting his/her real estate fail rage at you which is actually generated by some scum bag tenant, the government, the evil bank who won't give him/her a loan-mod or maybe just plain exhaustion from having been a landlord for decades and looking for a way out. When the venting is done, there may be a deal on the table and a check with your name on it sitting at escrow a few weeks later.

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