Are you not getting the response rates from your handwritten direct mail letters and postcards that you expected? You’ve talked with other investors and wholesalers that have had great response from their direct mailers. So, what did they do different? Do they have a secret they aren’t sharing with you? Possibly.
Every business needs leads if they have any hope to be successful. However, you have to work them, and that means following up with them. If you want to get responses from your handwritten direct mail letters and postcards, offering your real estate expertise, you can’t stop with the mailing.
When asked, “Which is more effective at getting you to take action?” 30% of millennials said direct mail, while 24% said email. DMN
Prospective clients need to be gently nudged consistently with a strategy. With the right level of nurturing your real estate leads, your handwriting letters and postcards can bring you some great rewards. It is common for many in the real estate investing or wholesale business to not nurture the leads they’ve purchased. Why is that?
Many of them believe that one size fits all when it comes to real estate leads, they’ve sent their direct mailers to, but that isn’t accurate. Leads should be treated like the individuals they are, you have to find out what their needs are and then tell them how you can work with them.
There are three categories in real estate investing and wholesaling, with each category needing a specific campaign for following up that will encourage and enhance response from your handwritten direct mailers. Here, we have broken down those three categories with a description of what type of follow up is recommended.
Forced But Not Urgent
This is a lead of high value but will take some time before the prospect warms up before they are ready to act on your handwritten direct mailer offer. These are typically from divorce, probate or tax delinquency. Approach with a mild style that isn’t placing any pressure or urgency. This type of real estate lead will need a lot of patience, but consistently staying in touch. Once a month email for three months and again in six months will usually get their attention.
Forced and Urgent
Homeowners that have received a Notice of Default are in an urgent state of mind because they are being forced out of their house. After sending your initial handwritten letter, follow up monthly with a handwritten post card that lets them know you’re still here and ready to help when they’re ready.
Not Forced, Not Urgent
This type of real estate lead is usually an absentee owner. After your first handwritten letter, follow up again with a handwritten postcard in three months and then a monthly email.
Identify The Lead Category
With this information providing you an insight on real estate prospect leads by category, determine which of these categories you want to focus your marketing on. With that decision made, you can create a strategy on your handwritten direct mailers and the frequency.
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Photo by Z S
