You'll learn the envelope and letter style to get maximum seller lead response when mailed to homeowners who are likely to sell to build your database.
I hope you had a wonderful Thanksgiving and you're getting rest over the weekend, ready to end the year strong.
We're working with our clients in December on how to build their database with people who want to sell their home. Specifically this week by using direct mail to get homeowners to call you about listing their home.
In my last video, I answered the question “How do I get a mailing or phone list of homeowners likely to sell?"
Now once you have that list, what's the best way to approach them to see if they are interested in selling their home using media (direct mail, email, Facebook ads, direct mail, etc) over manual cold calling?
If you don’t have any money, you’re stuck making cold calls. This is prospecting. This is the art of persuasion one-to-one. It’s where most people start. And it's where you should start to learn how to sell.
However, if you’re lucky enough to have money to invest in marketing (typically $250k+ GCI), you can write that same message down on paper and mail it to them - saving you a lot of time. This is the art of salesmanship in print. We call this "copywriting." This way people call you, instead of you calling them.
(The best real estate agents I know do both - prospecting and marketing)
I had the joy of attending Dan Kennedy's Mailbox Millions 2.0 earlier this year in Cleveland. It was incredible. Much of this insight I'm going to share with you comes from what I learned there, along with empirical evidence from my own direct mail and the letters we've mailed out for clients.
Real Estate Agent Direct Mail for Seller Lead Generation
There are 3 things you must do to get home owners to call you from direct mail about selling their home...
First – It starts with a properly formatted "likely to sell" list I covered in my last video. You’ll want to make sure the names and addresses are in “proper case”, meaning they are not in ALL CAPS. You want them formatted casually. You also want to look up the name of any LLC owner the properties are held in using Open Corporates, including pulling the first and last name out of any trust that holds the property, if possible. Normally you hire someone to do this for you. It’s the biggest hassle in the process.
Second – You then need a personal message. Not a junk postcard. Your mail must look like personal mail, not corporate or junk mail. America sorts its mail over the waste basket. An effective letter is 14-16pt font Times New Roman on one page that’s very personal in style asking the homeowner if they want an offer on their home and, if so, to contact you. You’ll ask them directly to call, text or email you. It helps if you use a trackable phone number through a service like CallRail to track and record the calls/texts from your letter. Make sure to include a personal and authentic photo of you in the letter, too. Remember, the more personal – the better.
Third – It’s time to mail it. I like the service LetterPrinting.net. The letter must go out first class with a personal return address (just your name, not your company) in a colored envelope with personalized handwritten font. A mail house will send the letter for you. Just upload your list, your one-page letter, and your envelope. Now press send. You’re done!
I recommend you mail your “likely to sell” farm every 90 days, and then send 3 letters in a row every 3 weeks to distressed homeowners (pre-foreclosure, divorce, liens, etc).
Again, I covered these lists in my previous video.
Use the same letter over and over to your farm every 90 days, and simply change the headline for each letter in your 3-step campaign to distressed properties. Keep it simple – consistency over creativity will win the game.
Here’s how to think about the cost.
You can afford to spend 10-20% of your sale to get the business. If your commission is $5,000 – and if you want a leveraged business driven by marketing so it’s less time and people dependent – you can afford $500-1,000 dollars to get the business, which is about 500-1000 letters a month (about $1 a letter "all-in").
I hope you enjoy the tip! Next week, I have a video planned for you on how to hire someone to help you make phone calls to build your database.
Then, we'll end December's client training with a Facebook video ad that will get people to message you about selling their home, too.
If you're not a client, please read our Official Video Marketing Plan to stay in better touch with your database and request a Free Strategy Call about working together. You can see pricing and how it works on our site.
If you're a client, please talk to your Marketing Coach who has been trained on what I covered above. If you want to go deeper with me on these tips with a weekly one hour live class, learn more about my Database Marketing Course add-on project that officially starts January 2020.
I'm also teaching an add-on Recruiting Marketing Course starting in January 2020, too, if you're looking to add real estate agents to your team or brokerage with helpful videos, social media, workshops and more.
All the best,
P.S. Submit your interest to join us at an upcoming Mastermind Club meeting in San Diego, CA. You’ll build relationships with the top minds of the real estate industry. Dates are March 26-27, May 14-15, September 24-25 and October 22-23, 2020. $425k GCI / 75 deal minimum.