Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
The mailing arrived yesterday and I started getting calls shortly after noon. I just checked my call history and I've had 28 calls since then. The mailing was to a list of 465. This is the best response rate I've had so far just one day after the letters hit. No sure deals yet, but a few possibilities.
I had planned to have a light schedule late this week to be able to take as any calls as possible, but life happens so today was crazy. I need to keep up though, because if I put off too many return calls, opportunities will be wasted. Not only that, but there are nearly 600 more letters scheduled to go out as soon as I ready. That was going to be next week, but now I see I need to put it off until after Thanksgiving.
General rule of thumb I've found -- when mailing to absentee landlords/investors, the calls you get the first day are usually good calls; when mailing to distressed homeowners, the calls you get the first day are generally the, "Take me off your now now!!!" variety.
Hopefully, your list was targeted at investors or those with equity, and hopefully you can convert a few!
Most of the calls get disqualified pretty quickly. Yes, those who want to know what you'll pay and why you want to buy their home. Some "don't mail to me again" calls. A few angry callers. All of these are fine because you are playing a numbers game that you will win if you keep playing. Get enough calls to get motivated sellers. Get enough motivated sellers to get your deal.
I am going to use Jerry Puckett for a mailing of 400 to see what results I get. I have been doing postcards to absentee owners and have had little response.
I'm not a fan of post cards unless they are hand written. Good yellow letters just work if the area hasn't been saturated Jerry has gotten me deals and that's what I'm buying when I outsource marketing.
Jon Klaus Why do you prefer yellow letters over post cards? Have you noticed a noticeable increase in response rate for yellow letters vs post cards?
The reason I would assume response rate would be similar between the two is your supposed to be marketing to MOTIVATED sellers in the first place. If they are motivated they shouldn't care if the marketing piece is hand written or fancy, as they already have a reason to call you.
People notice and open hand written first class postage letters. Post cards can get lost in the shuffle of junk mail. Even if the recipient is highly motivated to sell, they may not read the message on something they think is junk. I don't have numbers on postcard response rates, but I know that the few thousand yellow letters I've sent out have had response rates that blow away the tens of thousands other direct mail pieces I've sent out n my other business. Yes, there's more to it than hand writing, but that's a really important piece.
You can hand write post cards, but yellow letters have done better for me.
Jon - are you actually handwriting or are your printing them off using a typeface that looks like it was handwritten? I ask because hand-writing 750 mailers and envelopes seems like it would take days to complete. I'm going to send out roughly 800 letters to absentee owners/probate just after the New Year and am trying to compile best practices through any and everyone. Thanks in advance for the reply.
I found this website in a previous life, really good for looking for different font types: http://www.dafont.com/search.php?q=handwritten
Some good options in there. Thanks for a copy of your letter, Jon, very helpful.
Also, there's a guy on Fiver.com who will take your handwriting and turn it into a computerized font. For $5! Font looks and works great with your PC. But I have yet to use it in my marketing yet.
We closed on a house from this mailing the week. Tax value is 146k. We bought it for 95k. Move in ready but needs some updating. The bonus on this deal is that it is on a full acre and the lot can be divided and developed. I may sell off half an acre or put another home on it down the line.
I did my first yellow letter mailing last week, and I too used Jerry Puckett. I received a 4.5% response rate but none were motivated sellers. From what I have read about yellow letters, that is the norm. The response is better than the meager .8 rate I received from 6 months of postcards.
With the letter you gave as an example, what did you say when the seller asked how did you find and why do you want my house?
Did you come off as an investor or home buyer?
Thanks
I let them know I got their info from public tax records. I try to come across as I actually am, a small investor interested in buying their house. If they ask me what I'm going to do with it, I tell them.