Yellow letter marketing for higher priced properties?

Question

Anyone have success using yellow letters to buy properties in the $250K-$1mm range?  How does your messaging and call to action vary?  Is a business letter better?  How else should one approach marketing to buy in this price range?

Account Closed · Answer

C'mon direct/mail marketing people!  Throw Jon a bone here and chime in about what has worked and not worked for you.  There's got to be more direct marketers on BP than me and those that sell yellow letters.

Account Closed · Answer

I'm working a new farm, the median is $250K. Fixers and REOS are mostly in the $150-200K range.  I am sending a version of a business-like letter/memo.  It's a bit generic though as I'm using it for all targets.  The response rate and potential leads are better than average.  Two things I think that are making a difference.  1) Novelty.  The sellers are not getting any other direct mail relating to their property.  At least this is what they are telling me.  2) Income level. The median price does not reflect the mostly working class incomes and retirement incomes of population that lives and/owns there.  I wouldn't send the same letter to owners in Silicon Valley or Orange County.  There are motivated sellers and distressed properties everywhere, but high income owners often have other options/solutions besides investor buyers.

I think you could easily craft the right message and letter for your targets.

Troy Sordin · Answer

We notice that yellow letters work well for lower and mid-level properties, and what works for those does not always work for upper level properties. If in your area a $250k house is mid-level, then yellow letters should work just fine.  If $250k is a nicer place, then there are some other things you can do to improve your response rate, the biggest being a more formal approach. One way to do that is by putting it on letterhead. Here's an example that's been working pretty well recently:  http://yellowletterscomplete.com/color-letterhead-letters