All Forum Posts by: Samantha M.

As a Investor I often get lead sources that are unqualified for a discount purchase and more suited to retail. I am thinking about getting my RE license to list some of the retail suited properties that come my way.

With that being said, how does the listing process work in general? What are the steps? It cant be as simple as figuring out the sellers price and listing it on MLS and then collecting a 3% (or whatever is agreed upon) commission fee once the property is sold.

Thanks

Scott Williams Once you have your license, and get prospects that are more geared towards a retail sale, is it a difficult process to list their property as a Realtor? And then market it?

Just curious what this process of listing a property looks like. Since I too am deciding on getting my license.

Jerry Puckett Good Post Jerry. I am keeping track of all my responses, and I just need to point out that's how I initially FEEL about yellow letters. I have a group of leads im only mailing post cards too and a group of leads im only sending yellow letters too. I will see where the numbers are after several months. Numbers so far definitely favor yellow letter mail, but I want to see how they average out over 6 months to a year.

Also

"To that end, if you don't follow up with the people who do call from time to time, you're really wasting your money. Peoples circumstances change. If you position them as warm prospects rather than as a waste of time, your chances of conversion go way up."

That Or you can have your mail groups on rotation. If you mail them again every 2-3 months you don't necessarily have to give them a call, because if this is the 2nd or 3rd time you have consistently mailed them their circumstances may have changed by then and now ready to sell.

J Scott

"That said, those who do their first deal will likely do many more, but most will never, ever do that first deal."

I think part of the problem is these people should not be calling themselves "wholesalers" to begin with. Many of these people never take action, they never get their business systems in place (after all wholesaling IS a business you need to treat it as such), and never begin marketing to motivated sellers, dont learn the contracts etc. If they do take action, many wholesalers give up after their first months mailing when they drop $500+ on mail and only receive 18 calls back, most of which will be garbage. Instead of sticking with it, they throw in the towel. Or instead of taking the first step of action, they endlessly ask questions and never take a step forward.

Would you call someone who never performed surgery a surgeon? Would you call a someone a "wholesaler" if they never closed a deal, or dont even have an active marketing campaign?

Scott Williams Seems like your experience confirms what I already had in mind. Yellow Letters will increase your call count because people are curios, however many of those calls will be junk for our purposes. You could likely double your marketing budget for what you pay for yellow letters and switch to post cards. Post Cards likely will not have the response rate but the people that NEED to sell will likely call.

Justin Silverio One of the most successful wholesalers in our area tells us the sellers that dont leave a voice mail can often be some of your best leads. Think about it like this, its 2am and your pipes break. You need a plumber, fast. If the first plumber you call doesn't answer, you hang up and call the next one. In our case, they hang up and pick up the next marketing piece besides ours in the mail. When a trigger event happens, sometimes your best leads dont leave voice mails.

Jason Grote Thats another great point. You CANT create motivation. Nothing you say, mail or do can change that.

If your leads are good enough you should be motivated with people that could potentially be in a motivated situation in the first place

The yellow letter no doubt increases your call quantity, but does it increase your call QUALITY ?

Invitation style envelopes, hand written fonts and colored blue will all spark interest in and get your mail opened more, but the question is will it increase the QUALITY of your leads? Im somewhat skeptical. Im sure you will get more calls with that approach, but it will likely be out of curiosity.

The purpose of this thread is to generate discussion on the matter. Personally, I will be trying an A2 invitation size yellow letter next month for the first time.

K. Marie Poe Thats a good point. Invitation style envelopes, hand written fonts and colored blue might get your mail opened more, but will it increase the QUALITY of your leads? Im somewhat skeptical. Im sure you will get more calls with that approach, but it will likely be out of curiosity.

I will reserve my judgement until I try invitation envelopes next month, but thats my initial thought process.

Whats considered months of supply equilibrium in the DFW market?

@Jon Holdman, Thank for your reply I appreciate it

K. Marie Poe Thanks for the reply. Nice story I bet when you told them your party bias it quickly diffused the situation lol! You stated you dont like yellow letters, what do you use out of curiosity post cards?