18
Dec

The real estate market is becoming tough. Home sales and prices are expected to hit record lows in 2020. Saturation is on the rise as everyone wants to be a real estate investor.

How to thrive in these tough times? The answer is direct marketing. But everyone is doing it, you’d ask.

Here are some of the best tips and strategies to adapt in your real estate direct marketing to give an instant boost to your business.

Outsource

The biggest trick in real estate direct marketing is to never do it yourself. Always outsource your direct mail campaign.

Why?

Well, for starters, if you decide to do it all by yourself, you will have to:

  • Buy hundreds of envelopes in bulk
  • Mail stamp (around .19 cents per piece)
  • A printer ( at least $400)
  • Write addresses on hundreds of envelopes
  • Seal, post (think about postage costs)

But the biggest disadvantage of doing everything yourself isn’t the cost.

It’s the inability to do it consistently. Once you are done with your first campaign, you won’t be able to repeat the process two weeks after.

Once you lose consistency, you will never hear back from any prospective lead.

It takes multiple touches to convert a prospective lead into an active lead.

When you outsource, good real estate direct marketing companies like Yellow Letters Complete offer packages that involve multi-touch campaigns and consistent marketing campaigns.

Put All Your Effort in Lists/Data

Data or lists is the lifeblood of any real estate direct marketing campaign. Almost every beginner real estate investor flocks to websites like List Source or Yellow Letters for data. But honestly, there’s tons of fake, duplicate, used and dead data out there.

The best approach is to put in work and make your own list.

If you are looking for fresh leads for good response rates, here’s where you should look:

  • Try to get lists of eviction court attendants and scour them for data. Use LinkedIn, social media to find email addresses or message outlets.
  • Find landlords who own more than one property with back taxes.
  • Try to find owners with tax delinquent multi-family properties (realquest.com is useful).
  • Mail to property owners whose assessment went way up this year
  • Send/display your flyers, yellow letters and postcards with “we buy homes” at unemployment offices.
  • Use Craigslist to find sellers.
  • Build connections with divorce attorneys who could refer you to people who want to sell their property.
  • Send flyers to expired MLS Listings
  • Send mail to Estate/Probate Attorneys with your promotional messages.
  • Find lists of upcoming, expected foreclosures from local courts.
  • Target people who are 30-60 day late on mortgage lists
  • Focus on Probate leads, absentee owners and divorce leads

Be Consistent: Send Multiple Touches

Consistency, constituency, consistency.

Half of the battle in real estate investing is patience and perseverance.

According to
a study, it takes at least 6-8 touches to
generate a viable sales lead.

Never expect responses after your first campaign.

Keep your expectations in check.

source

Write the Best Message

Your message matters! Every word you write is an opportunity for you to infuse trust in the reader.

Make it short. Make it direct, friendly and full of human element.

Don’t make it sound like spam, threat or ad.

Here’s a good example that immediately resonates with the reader

source

Here’s a mediocre example

source

source

Always make your copy extremely short, direct and never repeat (please call me written twice in the letter above. Repetition. Avoid it!)

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