Hello Everyone,
I am just starting my yellow letter campaing and so far the results arent great. Have received 2 calls from people going thru the foreclosure process that are not willing to sell yet. That would put me at roughly 2%.
My question is, are there any other alternatives to the yellow letter campaing? or Do I just need to be consistent and see what happens?
Thanks
I currently mail out four different pieces of mail five times…
Day 1 - Professional letter
Day 5 - “Mary” letter
Day 8 - Check Letter
Days 13 and 30 Post Card…
And I mail to the six major prospect groups…
NODs
FSBOers
FRBOers
Expireds
Farm
COI
also a 2% responce is fine… Mail is a numbers game… and remember the NOD list is the most hit by Investors, Lenders and Realtors so your number will be down a little with that group…
Increase your odds a little by mixing up your look.
Thanks Michael,
Would you be willing to clarify a few things for me?
What are Professional, Mary and Check letters? Could you please explain what the acronysims means? I think I got it right. I only know FSBOers!
Thanks
NODs - Notice of Default
FSBOers - For Sale By Owners
FRBOers - For Rent By Owner
Expireds - Agent Listing which was not sold during the contractual listing period
Farm - Large mass of land used for growing veggies
COI - Center of Influence…
Professional Letter - Typed letter
“Mary” letter - Hand written letter
Check Letter - Letter that appears to be a check
Thank you very much
2% isn’t that bad, especially when mailing to pre-foreclosures. That’s the toughest list of people to go after. You should have better luck with multiple mailings and as people start getting closer to sale they get more motivated. Plus, most investors don’t mail over and over, so results will improve the more they see you. All in all, direct mail can be discouraging, especially for newer investors. The phone doesnt really ring off the hook like the guru’s would have you believe. It’s a numbers game…slow and steady wins.