yellow letter critique for expired list

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yellow letter critique for expired list

Leeta Song
Burnsville, MN · Member since 2013 · 26 posts · 6 votes

I had read on BiggerParkets and now getting a list from my agent an expired list. I would like to know what you guys think about the yellow letter I'm plan to create. Please critique

Dear Owner Name (Tax Record)

My name is Leeta and I buy real estate in Burnsville, MN. I recently noticed that your property listed at (Property Address) had expired. I am looking to buy more real estate in Burnsville.

I know that not selling your real estate can be frustrating. You now have three choices:

CHOICE A- Sell Your Property. If you are still interested in selling your property then call me at xxx-xxx-xxxx or email me at [REMOVED] to discuss what I can offer for the property located at Property Address

CHOICE B- Call our 24 hour recording at xxx-xxx-xxxx to learn more what we do and how we could help you.

CHOICE C- Not Sell Your Property. If you are no longer interested in selling your property, please feel free to throw this letter in the trash.

I look forward to talking to you soon and helping solve your real estate problems.

Signature

Leeta Song

P.S. When you call at xxx-xxx-xxx, don't forget to ask for a copy of our free special report "(got to create one)"

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Jim Ludes
Vendor · Redondo Beach, CA · Member since 2010 · 37 posts · 17 votes
12y

The whole point of the yellow letter is so it comes across as a personal message from a friend. Use their first name ONLY, introduce yourself, tell them what you want, then tell them to give you a call. If they are still motivated to sell, they will call you.

Don't give them too much information in the letter. Keep them curious and wanting more, so they pick up the phone and call you. Don't use a 24 hour recorded message, it sounds too corporate. Have them call your direct line or one that is answered LIVE.

Here's an example of a yellow letter I used that got me around 25% in return calls.

Dear Mary,

My name is Jim Ludes.

I'd like to buy your house at ________________________.

Please call me at (555) 123-4567

THAT'S IT! Keep it short and sweet!

Be sure to hand write the message, then fold it in fours with the message facing inwards. Put it in an invitation style envelope and hand write or print their name and address on the outside of the envelope. Print your return address in the upper left corner or on the back, (don’t use a company name or a P.O. box), use a personal looking stamp, (the sexier the better), and mail it.

I have used this yellow letter for expired listings, out-of-town owner, foreclosures and vacant properties. I have even had it hand delivered door-to-door to entire neighborhoods. The only difference is I do not put it in an envelope. I had the delivery crew fold it in fours and stick it in the door jam, screen door, or under the corner of the doormat with a big smiley face drawn on the outside. Trust me, it will get opened!

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  • Derek W.
    Investor · Kern county Riverside County, CA · Member since 2008 · 494 posts · 261 votes
    12y

    Honestly, I don't like much of it at all. It sounds like junk mail and is destined for the trash. You sound like you're trying to sell them something. Others might chime in and disagree, but in my experience email addresses, 24 hour recordings, choice C, free special report, all turn off a seller. I've never bought a house from an email. You need to talk to people to buy houses. I would keep it way simpler. Why not just say:

    Hi,

    I see you were trying to sell your house. I'm interested in buying it and think I have some ideas. Please call me so I can write you an offer.

    Your name and phone number

    1Reply
  • Ellis San Jose
    Specialist · Westlake Village, CA · Member since 2010 · 1k+ posts · 781 votes
    12y

    @Derek W.

    Excellent points.

    @Leeta Song

    Focus more on the sellers benefit for taking action and talk less yourself. I made that correction to my own letters a few years ago when a mega successful direct marketer skewered my investor friends marketing copy for the same reason.

    Remember, they can care less about what you want, they want to know what's in it for them.

    1Reply
  • Leeta Song
    OP
    Burnsville, MN · Member since 2013 · 26 posts · 6 votes
    12y

    @Derek W. thanks for your guys impute and I would make it simpler and shorter.

    0Reply
  • Jim Ludes
    Vendor · Redondo Beach, CA · Member since 2010 · 37 posts · 17 votes
    12y

    The whole point of the yellow letter is so it comes across as a personal message from a friend. Use their first name ONLY, introduce yourself, tell them what you want, then tell them to give you a call. If they are still motivated to sell, they will call you.

    Don't give them too much information in the letter. Keep them curious and wanting more, so they pick up the phone and call you. Don't use a 24 hour recorded message, it sounds too corporate. Have them call your direct line or one that is answered LIVE.

    Here's an example of a yellow letter I used that got me around 25% in return calls.

    Dear Mary,

    My name is Jim Ludes.

    I'd like to buy your house at ________________________.

    Please call me at (555) 123-4567

    THAT'S IT! Keep it short and sweet!

    Be sure to hand write the message, then fold it in fours with the message facing inwards. Put it in an invitation style envelope and hand write or print their name and address on the outside of the envelope. Print your return address in the upper left corner or on the back, (don’t use a company name or a P.O. box), use a personal looking stamp, (the sexier the better), and mail it.

    I have used this yellow letter for expired listings, out-of-town owner, foreclosures and vacant properties. I have even had it hand delivered door-to-door to entire neighborhoods. The only difference is I do not put it in an envelope. I had the delivery crew fold it in fours and stick it in the door jam, screen door, or under the corner of the doormat with a big smiley face drawn on the outside. Trust me, it will get opened!

    2Reply
  • Bryce Robbins
    Real Estate Investor · Atlanta, GA · Member since 2013 · 18 posts · 6 votes
    12y

    Hi @Jim Ludes ,

    My wife and I are starting to crank up our direct mail marketing to recently expired listings but this is the first time we are attempting this endeavor. We get about 3 properties auto-generated every day from our real estate agent but the listings don't have the sellers name or their specific mailing address, in the case that they don't live at the property.

    Do you happen to have any tips on how to locate the sellers name and mailing address? Any tips on how to negotiate with the seller if they decide to call us?

    Thanks!

    0Reply
  • Jim Ludes
    Vendor · Redondo Beach, CA · Member since 2010 · 37 posts · 17 votes
    12y

    Hey Bryce,

    To find the owner’s name and current address, you could try looking up the tax records, hiring a skip tracer or contacting a title company. You could also ask the neighbor’s. Tell them you’re interested in buying the house next door and you were wondering if they knew who the owners were.

    As far as negotiating with the seller, that really depends on their situation, wants and needs. It also depends on the type of deal(s) you’re looking for.

    When the seller calls and I have gotten past the small talk, I always ask the seller the same set of questions to determine their motivation level and to see if it’s a deal that fits my buying criteria.

    I use the W.O.W.W. formula:

    1. What does the seller think their home is WORTH?
    2. What do they OWE on any mortgages or liens?
    3. What do they WANT for it?
    4. WHEN do they want to sell by?

    Of course there’s a lot more to it, but this will give you an idea whether you should spend more time with this seller or not. You could also jump over to the “Real Estate Deal Analysis and Advice” forum to get more advice on negotiating and deal structuring.

    1Reply
  • Shariyf GreviousPro Member
    Investor · Philadelphia, PA · Member since 2012 · 135 posts · 80 votes
    12y

    @Ellis San Jose Would you mind showing us your letter at all?

    @Jim Ludes I sent you a request as well as emailed you, I am interested in your online marketing efforts and information.

    0Reply
  • Jim Ludes
    Vendor · Redondo Beach, CA · Member since 2010 · 37 posts · 17 votes
    12y

    Hey Shariyf, go check out yellow letter that Bryan K. posted a picture of on the Address for sale is not the same address of the tax payer thread.

    It's pretty much the same one I use.

    0Reply
  • Ron Carlson
    Bedford, TX · Member since 2014 · 20 posts · 9 votes
    12y

    I think you should not advise them to through the letter away. We send out letters and at the bottom we put P.S. Keep this letter in a safe spot for you never know when you or a friend may need to sell real estate. A lot of people call us back and say I am glad you recommended that I keep your letter or I would have thrown it away.

    0Reply
  • Jim Ludes
    Vendor · Redondo Beach, CA · Member since 2010 · 37 posts · 17 votes
    12y

    Great advice Ron!

    I use a similar P.S. on my postcards, but never thought of using one on my yellow letters.

    0Reply
  • Leeta Song
    OP
    Burnsville, MN · Member since 2013 · 26 posts · 6 votes
    12y

    @Ron Carlson Thanks for the P.S. I would be adding that to my yellow letter.

    @Jim Ludes Thanks for W.O.W.W. formula, I'm going to start adding that info the next time I do a phone scrip with seller.

    @Bryce Robbins I search the tax records online with the address that property is being sold, some state have the information online of the name of the owner that pay for the tax of the property. I hope this help.

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