I just got finished watching a webinar given by Vena Jones-Cox about Marketing. Over all it was very informative and gave me some good reminders about how to properly market to sellers. I don’t want to rehash the entire lesson, but I do want to touch on some key points that I’m going to incorporate into my next mailing.
How Can I Help You?
You’ve probably heard this before and so have I, but for some reason I’ve forgotten this simple advice. Your copy should only include ways you can help your target out, not include features detailing what you offer. Such features are
- I buy houses
- I can close quickly
- All cash offers
Your basic message should hit the rough spot of the lead. You want to make their life easier, reduce their problems and help them. For those people who are marketing for probates, think about what problems do people who inherit a house have?
- Stop the constant driving back and forth, wasting hours of your weekend
- Spending thousands of dollars just to fix the place up so you can sell it, maybe?
- Need to pay off some debt by the end of the month, but there is no way you can sell the house that quickly?
Any one else know of a problem area that can be solved?
Filter Your Probate Lead Lists
Building a probate list can be as simple as going to the court house and writing down all the names and address for each case file. You’ll get calls from your marketing by mailing to this list, but the responses rate will be very low. Why is that? There are a few reasons why and some good and simple tricks to get a really direct, targeted list.
- Make sure the probate file has real estate in it. This is as easy as cross checking the deceased name and address in the county tax records.
- Don’t Mail to Spouses or Parents. 99% of the time a husband, wife, father or mother of the deceased is not going to be happy that you are sending them mail asking to buy their loved ones property. Take these people off your list and save yourself the heart ache of being yelled at and called a “Scum sucking pond feeder”.
- Only mail to Out of State Executors. Most of my responses so far have been from executors who live out of state. This one is up to you if you really want to save some money and increase your quality response rate.
By doing these filter techniques, you’ll be saving money because you aren’t sending mail to leads who have nothing to sell you. You’ll be saving time because you won’t be putting the extra mailers together or answering unmotivated calls. Last but not least you’ll be greatly increasing your response rates.
Proper Letter Structure
Your letter is your advertisement. The most successful advertising campaigns speak to how you can solve a problem or need. That isn’t all though, people are very suggestive by nature and sometimes need a little push in order to take action. Even after a push they may even need a little enticing to push that final digit on the phone. A good letter will have the following structure…
- Part #1: Mention their pain, the problem they may be having. If you can get someone to say “yes that is my problem” you’ve hooked them and they will read further.
- Part #2: Call to Action. Tell them to call you at 123-555-0000 to find out how to solve their problem
- Part #3: Solution. Let them know there is a solution to the problem
- Part #4: Call to Action. Tell them to call you before putting down the letter
- Part #5: Offer them something if they call. Tell them to “Ask about your 48 hours Offer” or “Ask about the free probate report”.
These are some very simple yet powerful marketing techniques that will put you ahead of many real estate investors in your area.