Do any of you make follow up calls or visits after making a series of mailings to properties without any response back? If so, how much success have you had?
The reason I ask is because I’ve always heard that if someone is truly motivated they’ll call you, but many times where I know an owner should be motivated I won’t get a response at all. So, I thought following up with calls or door knocking may be a good idea.
Just wanted to know other investor’s experiences and thoughts.
It’s likely that the motivated seller’s you are marketing to are receiving lots of solicitations for other investors. It’s very possible they are calling on someone else.
Personal contact by knocking at the door or calling is your best chance for a better response. It’s just a lot more work and takes a lot more confidence to do.
What type of properties are marketing to? Like Tom said, it is likely that your marketing is not breaking through the clutter of mail the owner is receiving. If it is a property that is being foreclosed on it is highly likely that they are getting an abundance of mail.
What does your marketing strategy consist of? The more specific you are the better chance we can help you. When mailing you are going to have to be as creative as possible.
When I once made a habit of going direct to consumers, I hopped in the truck and knocked on doors.
I takes some “stones” to do it, but I had a very high close ratio. An frankly, no real horror storys to tell, other than messy houses, bad hygene and the memorable smell of cat urine.
When you in front of a person, and they are truely motivated, and if you have some story to tell, its a salespersons dream to at that time close the deal.
If your in that situation, and the other peices are in place, and you still cant close the deal; maybe your not a salesperson.
I’ve done 5 deals in the last year all from mailing alone, but I want to try and get to a rate of doing a deal per month.
I think I’ll start doing a combination of calling, door knocking, and mailing.
I called 3 owners of vacant run down houses in a good neighborhood yesterday. The first number was out of service. The second one the owner was very interested in selling. The last one the owner said he was thinking of selling before too long and he took my contact info.
Going directly to the seller can work well, you just have to know what you are doing. I have also found out that becareful how you dress. If you look to good, shirt and tie, you can come off as a debt collector or someone who they really dont want to talk to.
I usually send a mailing first, because I dont have alot of time to go door to door, but my mailing is pretty creative so it usually gets through and they ask to meet with me so it works well.
Handwritten, personalized letters work well among many other creative things.
Some ideas that I am going to start using for my mailings are:
1.) Send a letter first, then follow up with postcards
2.) Use a #12 size manila envelope
3.) Use a regular first class stamp, no bulk mail stamps
4.) Use a handwriting simulation font on the envelope
5.) Use my own name on the return address instead of my business name for the letter
6.) Have a fairly detailed straight to the point personal letter that explains the who, what, when, where, why, and how of everything
7.) Put my business card in with the letter
8.) Each follow up postcard has the same general message and layout, but each has it’s own headline, color theme, and picture graphic.
All of those strategies should combine for a good response rate from targeted prospects. I’m currently going to target pre-foreclosures, near expired MLS listings, probate estate heirs, and vacant rundown properties.