I started my first direct mail campaign and got my first response. The last week or so I had a few "scripts" for the initial interview I had been practicing with but one of the first questions I was asked was "how did you get my name" and since that question was not on any of the scripts I got nervous. Internet search seemed appropriate but what do others think the best response is?
Hey @Doug Haisten . First off, what list are you mailing? I can base an answer to that question differently based on the list being mailed, but see below for a general response...
When a lead asks how you got their name or why they are on your list, just be truthful and reply with something along these lines:
Well, Mr/Mrs _____, we are local real estate investors who buy properties throughout the ____ (insert city name) area and we send out mailers based on certain buying criteria, so your home must have met at least some of that criteria. We pay a service to send this mail out so I dont know off the top of my head what criteria your home met. Have you considering selling your property?
Dont start off the conversation with a lie. Be honest and answer their question truthfully, but use some tact. If they are serious about selling they will talk to you. If someone asks that question they are probably annoyed by the mailer, but so what... they either want to sell or they dont. Just be yourself and use your own personality. Dont overthink it.
Hope that helps some! Good luck!!
Congrats on taking action, we've talked before. No need to get nervous, agreed with Braden in that being truthful is the way to go but you also need to throw in some tact.
If you got a tax delinquent list, do *not* say I went and looked up all the people behind on their taxes.
If you were driving for dollars for example, you can say, I was driving through the neighborhood and looking for a house where I can put some sweat equity in and I like your neighborhood.
What kinda list is it? For pre-foreclosures or tax delinquent, just say something along the lines of "I drove through your neighborhood and your house was one of the ones that I was interested in buying." Then they'll ask why, and give them a truthful, non offensive answer.
@Doug Haisten , good on you for taking action! I'll a little behind you still doing research and comparing markets and bang for the buck. @Braden Smith and @Ray Lai hit it right, you want to be honest but tactful. You're going to get the hang-ups and agitated people, but that's just one step closer to YES, right?! I'm planning on doing a couple of FSBO "cool" calls (they are expecting buyers to call, at least, so it's not totally cold) to practice (thanks for that suggestion, Ray)
Just for interest, Doug, how many mailers have you sent out so far and over what time period & frequency?
I mailed 551 yellow post cards with 1st class stamps to out of state absentee owners. I had four people call the day the cards hit. This was my first mailer and already gearing up for the next mailing next month to the same list.
I've read many a post and podcast about the importance to mail at least 5 times to the best results and that's my plan.
An observation: Like many people I get yellow letters and post cards too. I put the date on these pieces and file them. I haven't received a mailer twice from the same sender. One and done.
Thanks to ya'll for the replies and advice.
Hey @Doug Haisten .
See this discussion thread and my post in there for some tips on talking to sellers and questions to prequalify them. https://www.biggerpockets.com/forums/87/topics/434...
You got it @Doug Haisten - glad you're keeping the press. Yeah it seems most fall off after the first from what I read.
@Braden Smith Thanks Braden, this will be helpful. I didn't expect the number of calls. I am doing RE while working another job and it gets challenging to try to do an interview while at work and talking on my cell phone at times I have to speak louder for the person on the other end to hear me.
I like the response I get when I ask questions about the house seller: "why do you need to ask that, you sent me a card saying you wanted to buy the house". A couple hung up when they learned I am an investor, probably tire kickers anyway. I've had 9 calls in 3 days since I mailed out 551 cards sent. Of those nine I have 2 that are prospects the others either were the hang ups or not the deal I am going for, at least not right now.
There's nothing like actually handling phone call to get experience. ll the self practice or practice with friends prepares you enough for an actual potential client on the phone.
The results thus far from my first mailing was about 3.4% response. Most of the calls I received were within a few days of me dropping the cards at the post office. I was a little surprised, sort of, of me getting calls 2-3 weeks after. I have another full time job. Some of the calls I took others went to VM. Everyone that called (except the ones I answered) left a message except for 2 people. Some were hang ups when they understood I was an investor. Not sure what difference though should make to them. I was expecting to find houses/owners in some distress but most of the callers I had (out of state absentee owners with high equity) their homes were in top notch condition and none were really in a need or hurry to sell. I need to sharpen my trade craft on how to handle these types of properties. My 2nd mailing goes out in 10 days. When I get a prosepect whose house is like I mentioned that I probably won't be able to make a deal with do I cull if from my list or keep on mailing to them?
@Doug Haisten , nice return so far man! Thanks for posting your results! I don't have a good answer other than what I have heard from others, which is mail until you can positively confirm they have sold to someone else or are not at that mailing address anymore. Not sure if that helps but best of luck
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