How to Get Absentee Owners’ Attention When Wholesaling
If you are in the wholesale real estate business, then you know about yellow letters, we don’t need to explain that strategy to you. But are you getting the response from them that you’re looking for?
Most ‘yellow letters’ that are sent out today by wholesalers are done by computer in mass quantity in a handwriting font but on white paper. So, while they still have that handwritten appearance, they are computer generated and then mailed out in masses.
Who Is Most Likely To Respond To The Yellow Letter?
After interviewing several real estate wholesalers regarding the use of the yellow letter, it appears that those that respond are looking for that person that they click with one-on-one. Why?
There are two groups in this theory. There are those that believe a one-on-one connection will make it less likely they will be taken advantage of. And the other group feel that they have a better chance of taking advantage of the wholesaler, with the goal of coming out ahead.
One thing for sure all of those interviewed agreed upon, you’re more likely to get a better rate of response from the yellow letter marketing style as opposed to the traditional marketing style. Especially when you’re trying to get the business from an absentee owner.
Prospects Are Bombard With Hard Sell Tactics
And because prospects are bombarded with hard-sell tactics, it usually doesn’t work. In fact, the traditional flyer mail from a real estate wholesaler will usually get tossed without even being looked at.
The best sell tactic is to let the prospective absentee owner feel that contacting you was totally their idea. The phrase “ …. you are most likely going to ignore this, but I would like to offer you …. “will get more attention in a Wholesaling Yellow Letters than any other way you may start your yellow letter off.
Why? Because you told them they weren’t going to be interested. So, if they reach out to you, using the toll-free number you have provided in your yellow letter, it will be their idea because they want to see what you have to offer them. We all want to be included and invited, but we also want the option to say no.
Build Their Curiosity Up
Absentee owners will fill that you are empathetic to them and their situation, especially if the property was an inheritance. They feel that you see them as a human being, not just a prospective lead to make money from.
As they are sorting through their mail, keep, toss, recycle, shred, your yellow letter, in a hand-addressed envelope, will catch their attention. They’ll open it just in case it is something important. Why?
You have shown your personal side with empathy with your direct mail yellow letter that isn’t on a glossy piece of fancy stationery with a professional design, but a handwritten note that you signed personally. You reached out to them asking if they needed your services, to please contact you. You are selling them a bunch of propaganda.
