Just sent my first direct mail letters!
Rental Property Investor · Bowling Green, KY · Member since 2016 · 66 posts · 24 votes
Howdy BP! I just wanted to say thank you to this community, and how grateful I am to the BP team for the great information and interviews they have put out. I was inspired to take action by so many people, but especially @Michael Quarles and @Devan Mcclish.
Anyways, I set a goal to begin my direct mail campaign by this weekend, and I have worked diligently toward that goal. I just sent out my initial mailing! I've got that nervous feeling of excitement similar to just before a public speech. My plan is to continue to mail and learn the numbers (response rate, calls before a deal, etc) for my market for the next six months. While doing this I'm going to continue to attend auctions, master commissioner sales, and network with everybody who is doing real estate in my area. I look forward to getting a deal, but I'm working to set myself up for the long term game, and willing to mail continuously for 6 months before finding a quality deal.
This is a script full of embedded commands and one which will weed out the unmotivated caller.
Two Part Seller Script
Part 1
1. Hello this is ______ with I Buy Houses I am calling for _____.
2. I am returning your call regarding hoping to sell a house. Do you have a house you're hoping to sell? If the caller responds with a "NO" to the above question discontinue the call.
3. Is the property listed with a Real Estate Professional? If listed discontinue the call.
4. If I were to send out an appraiser what would an appraiser appraise you house for in today’s market?
If the caller doesn't give a dollar amount then mention to them that you really need a number in order to help them" Invite them to call you back.
5. What amount… (Pause)
Sellers Name let me tell you a little about what I do. I buy houses like yours all the time.”
I pay all the costs – things like Real Estate Commission - Title Insurance - Escrow Fees - Transfer Tax - Termite Clearance - Roof Certification – the list goes on and on..
And I buy them in an “as is” condition. I am going to assume the responsibility for all of the needed repairs – whether I have seen them already or not.
One of the positive factors about selling me your house is that you can stay in it for as long as you need to and I can get you your money on the date of your choice.
I will pay cash when I buy your house so you can have the peace of mind of knowing it’s sold not only sold, but sold to someone who can afford to buy it.”
Believe me, there is nothing more frustrating than seeing a deal break down in escrow. That isn’t going to happen to you.” Isn’t that really what you want?
So knowing how I will buy your house what were you hoping to sell your home for, the net amount that you would receive after the loans and costs are taken care of. What I call the walk away money?
This question is going to get them to volunteer their loan amount if however they don't ask.
(Always attachment a reason to the following lowering techniques)
Example: Knowing that I am paying the cost and can have your money on the day of your choice....
(Pause) (Pause) (Pause) Is that the least you will take?
You can’t see yourself doing better?
Is that the lowest you will go?
Once you arrive at a number that you are comfortable with and are willing to begin the face to face negotiation then continue with Part 2.
Part 2
1. How did you hear about us?
2. Can you give me the Property address you are hoping to sell? (Always spell back the street) City Zip State
3. Is there better telephone number you can be reached at
4. Well Sellers Name “Thank you for calling me to buy your house.
5. What time today would be better for me to come out and buy your house ___________ or ______________? Terrific
6. Before I come out to buy your house… there are just a few more questions… I need to ask about your house, is that okay?
7. When would you like to have your house sold?
8. So if I can close escrow on this house THEIR ANSWER will that be okay for you? Yes No
9. Have you tried selling the house before?
10. IF YES; what do you think has stopped it from selling?”
11. Why are you selling?
12. IF TO BUY A NEW ONE Do you have to sell this house in order to buy the next one? Yes No
13. What is going to happen if it doesn’t sell.
14. Are you aware of how expensive it is and all of the costs involved with selling a house like yours?
15. Just a couple more questions.
16. Is the home Vacant or Occupied? Occupant Name?
17. How many Bedrooms ______ and Baths_____ How many Square Feet? _________
18. Is there a Garage? YES NO Size
19. Earlier I spoke about paying for all of the repairs, What Kind of repairs does it need?
20. What amount should I assume I will have to pay in repair cost?
21. Is there a Mortgage on the house? Yes No What is/are the balance? 1st ________ 2nd ________3rd________
22. IF THERE IS A MORTGAGE are you in Foreclosure? Yes No
23. IF IN FORECLOSURE is it a Notice of Default or Trustee Sale... Sale Date ______ Arrearage Amount
24. One last question, When I come out… it is important…that all of the decision makers be there…. so I can come to an agreement to buy your house… Will all of the decision makers be there for the appointment? (If all of them are not there don’t go)
25. Is there anything you need me to bring besides my checkbook when I come out to buy the house?
26. And if you could do me a favor and have locate the deed, however if you don’t have it I can have title look it up after I buy the house and also locate the latest mortgage statement.
27. Well, ____________ I look forward to buying your houses at __________…
28. Thank you.
@Michael Quarles is the man! You gotta see this guy in person if you have the chance, hes straightforward, skip the ********, deliver the content you need to hear and not what you need to hear!
we appreciate you Michael! thanks for all the content you provide.
@George Kahari Don't be embarrassed to ask, that's what this place is for. I sent out the mail in the form of physical post cards. I sent to houses that I had driven by and created a list, and then pulled up the owners address from the PVA.
@Sai T. I wish I had an interesting update to provide. I committed the cardinal sin of not following up with more mail. I am ashamed, and will rectify this situation. The calls I received were fun to take, and ultimately none of them were qualified motivated sellers (meaning they were willing to provide a generous equity stake to allow me to close the deal).
I get the mail too and when I call them more 50% do not answer!
@George Kahari Don't be embarrassed to ask, that's what this place is for. I sent out the mail in the form of physical post cards. I sent to houses that I had driven by and created a list, and then pulled up the owners address from the PVA.
@Sai T. I wish I had an interesting update to provide. I committed the cardinal sin of not following up with more mail. I am ashamed, and will rectify this situation. The calls I received were fun to take, and ultimately none of them were qualified motivated sellers (meaning they were willing to provide a generous equity stake to allow me to close the deal).
Lol. Far apart in distance but I can relate. Did my first campaign in dec and Jan. 330 leads, 9 calls, 0 deals. (Actually got a call yesterday... but yea it's was another tire kicker). Going to do another campaign soon... let's keep at it!!!
i think its all about the numbers, we are on our second month of mailing now, sending about 2000 pieces of mail out monthly and increasing every month. From out first mailing campaign we received around 5 calls, all tire kickers. We shall see what the second month brings out!
im literally getting the same response. I have a real estate agent on the team, so anyone that wants to get retail for the house we will just list it. trying to monetize every lead that comes in since we are spending $$$ on these leads. Still waiting on the wholesale deal though!