Direct Mail - 1st 500 Letters Started Hitting Today

[Travis Hamilton]

After many hours of networking and burning up the phones with local wholesalers the writing was on the wall that if I want to get the volume of deals done that I expect for this year, that I was going to have to find them myself.  Jerry Puckett's (sorry Jerry, couldn't tag you for some reason) slogan "Market Like A Wholesaler" really started to resonate with me so I took the plunge and signed up with Jerry to get some direct mail out the door.   Here's the info:

• Signed up for 1,000 name list (purchased via Jerry)
• First 500 letters arrived early last week.  Got them stuffed, stamped and out the door last Friday.  BTW, the letters & envelopes looked awesome and were quick and easy to get ready.  For the icing on the cake, I used Harry Potter stamps :)
• I'm assuming the bulk of the SW US letters have hit and the rest will be arriving in the next couple of days.
• So far, I've received about 20 calls back.  The reason I say "about" is because a couple of folks left the "I'm not selling my house, so don't call me back" message with no other info.  And I think the same guy called a few times, to really drive home the point.  He didn't leave any info so he'll be in for a surprise when he gets his 2nd letter next month!
• I got 17 calls with solid information and have spoken to 5. 3 out of the 5 are listed with an agent currently. 1 has been on the MLS forever and will expire at the end of the month, so I'll put the full court press on May 1st.
• 2 calls have already bowed out (one house is in a Life-Trust(?) and she can't sell and the other said to never call him back).
• One of the calls sounds like there may be real opportunity and I'm scheduled to check out the house this Saturday.
• I'll get back to the other 10 that left messages tomorrow (one lady called and left 3 messages - I'm looking forward to getting her on the line).
• As well, I'm assuming I'll get a few more calls tomorrow.
• 3.5% response rate (that should go up when the rest of the letters hit).  
• The last 500 names will be getting their 1st letter here in two weeks.

So far so good!  Can't wait to dig into the remaining leads and see if we can track down a deal.  And for what it's worth - if you are considering direct mail get in touch with Jerry.  I cannot imagine a nicer, more helpful man to work with.  Thanks for everything Jerry!!

This by far, was my favorite voicemail of the day!

[Travis Hamilton]

Well, the ringing phone has started to die down from the 1st mailers.  I ended up with 26 solid call backs + 4 call back from real estate agents (the folks handed the letter to their agents apparently) for a total of 30 responses.  I haven't followed up with the agents yet so I can track the houses but I'll get that done tomorrow.

"Kinda"-Final Results (I'm sure there is still a call or two out there):

• 30 Calls = 6% response rate
• 6 of the callers already had their home listed w/an agent
• 1 of the calls was the "never call me again" voicemail (ironic since I never actually called anybody that didn't call me first).
• 2 of the calls were the "We're not considering selling at this time but thanks for the letter" types.
• 12 were tire kickers - I've added them to the follow up schedule.
• 3 I'm still playing phone tag with but they all have called back at least one additional time.
• 4 are in the "somewhat" motivated stage.
• 2 are in the "REALLY" motivated category - both are out of town and we're setting up times to get into the houses.

One interesting thing I have found (those of you that are pros at this probably already know this) the more I could just listen and get them talking the better off I was.  At least 4 of the callers owned multiple houses.  2 of the leads I'm working have multiple houses that they would consider selling.  And one of the "REALLY" motivated leads has 3 houses she wants to sell!  It made me realize that I need to focus on getting them talking, asking open ended questions and never push to close in these initial phone calls.

Thanks for all the suggestions, advice and input - any many thanks to Jerry Puckett for helping me with this!  Can't wait to get the next 500 new names out now!!!