All Forum Posts by: Justin Silverio

I agree with @Elizabeth Wilson.  DM does get expensive so if you don't have the proper funds to at least stick it out for 6 months, I'd recommend either using a different method to find deals OR you can put the mailings together yourself.

@Elizabeth Wilson What type of mailers are you sending?  Standard yellow letters or are you looking for something more unique?

@Jonathan C. - There are a number of things you can add to for your mailing list that will increase the quality.  For instance, incorporate driving for dollars, comparing your lists and identifying overlap (these will be your super leads), underdeveloped properties, etc.  I spend A LOT of time on the quality of my data so that my DM campaigns are successful.

On the mailer front.  What about handwritten letters?  What about a creative mailpiece to increase the open rate?  Does each letter that you send build off the prior one to create a conversation with the seller?  If not, these are all things you can experiment with.

Seems like you have the last big component which is consistency and follow up.

@Isaiah Freeman most DM companies can mail you the letters so you can drop them in the mail.

@Isaiah Freeman The main difference is the postmark on the envelope.  When I send out DM, it has a Boston postmark.  some investors feel that this has an affect on response rates as prospects may notice the Boston postmark and think it's not a personal mailer.

I hope that helps.

@Ken OtsukaRealeflow is a CRM that (I believe) integrates to a direct mail company. If you're just looking for a direct mail company (not a CRM), there are a few of us on BP.

@Account Closed - I know they aren't negotiating for you but there is a lot you will learn from the seller over the first conversation that I think will be lost if you're not taking the calls yourself.

@Lee S. Let me start by saying that I don't know anything about Michael's call center but I'll give you my thoughts.  

If you're using a call center only because you are trying to free up your time, then I would agree with JR T. The last thing that I would outsource is talking to sellers. This is one of the most important skills as a REI - talking to and negotiating with sellers. You may not think you are giving up a lot by outsourcing but I would say that you are. For instance:

- Building rapport - a call center cannot build rapport like you can.  You know the areas and you can speak the same language as them with regards to neighborhood landmarks, events, etc.

- Negotiating - not just the price, you are negotiating to extract information out of sellers - condition, price, situation, etc.  Some may give this up easy, others won't

- Qualifying - you likely qualify a caller differently than someone that's taking your calls.  For instance, you said the 5 people that you called back were not motivated.

- Non-verbal/Subtle cues - This is very important.  Usually it's not what the seller says but how they say it.  You learn a lot from sellers and their motivation by the way they talk, add pauses, when their is hesitation, etc.

These are just a few of the reasons why I always answer my calls.  

Regarding your list, I'd recommend that you branch out to using different criteria.  You're spending all this money on mailers and a call center to be in a very competitive area.  I'd spend more time to build a high quality niche list so you're spending the money on a less competitive area.

I hope that helps.

@Account Closed Are you using a call center because you can't answer them yourself or are you just trying to release yourself of the time on the phone? 

@Thomas Anderson a lot of people mentioned it, but some good ways:

- network with commercial RE agents

- network with other REI's

- market to homeowners (direct mail, cold call, etc.)

- Loopnet - the paid version, but it is expensive.