Should you keep direct mailing after a rejection?

Question

Hey folks- I'm curious if people still continue sending letters to a person after you have been called in the past, offered a price on their home, and were rejected.

I'd assume a person should just change them to a new list, so they don't keep getting the "I buy houses" kind of letter, but I'm not sure. I have a lady who shot me down - but we're close in price. Any tips on keeping in contact with her?

Thoughts? @Jerry Puckett @Sharon Vornholt ?Anyone else? Thanks!

Account Closed · Answer

Brandon: I'm with Ellis. Once I've made an offer that's rejected, I consider that seller a lead......until they sell to someone else (if they ever do). Obviously, if someone was just tire kicking or looking for a free home valuation and/or won't be selling in their lifetimme, they are off my mailing list. (You'll get a feel for those, believe me). But for sellers that got legit offers from me but rejected them? They go in the real lead file. Those I follow up with custom letters and post cards. There's the "I want to make an offer that works for you, let me see what I can do" type message. There's the "Please keep me in mind if you get another offer and want to see if I can do better". There's the "Please keep me in mind if you don't get the offer you are looking for, I'm happy to hear from you anytime." There's the "Just checking in. The market is (better, worse) and would love the opportunity to see if I can make an offer that works for you today". Come to think of it, the only sellers in my real lead file are sellers that rejected my offers the first time or just weren't ready yet (who are different from sellers that will never sell). I once bought a non-performing note for $5K. I called the CPA for the estate that owned the note every month for 2 years. There was never a "no", but always some issue with the heirs that weren't ready. I finally bought it, foreclosed on it (vacant/abandoned), and someone bought it at sale for $37K. I would gladly make 24 short and easy phone calls for a $30K profit. I never even got out of the car when I drove by that property (to make sure it was still there). That deal was all patience and paperwork. But like I said, with time you'll get a feel for the tire-kickers, the sellers that just want to "chat", or those that are hoping for a miracle buyer at more than retail. Those I think it's safe to stop mailing to.

Ellis San Jose · Answer

I would mail them especially because they rejected you. You have something very valuable that other potential buyers do not have.... Familiarity. By not mailing them you are wasting a valuable advantage. Send them a postcard or letter just to let them know you are still around. Time & circumstances change for everyone.

Sharon Vornholt · Answer

Brandon - If they reject my offer or if they tell me the house is listed, I usually ask them if I can keep them on my mailing list just in case things don't work out for them. I usually tell them (jokingly) that maybe I can be their "plan B". I have never had anyone tell me no. Then I just keep them on the mailing list. You could put them into a different list, but I keep them on my monthly list. I want to be there if they have a change of heart and if I put them on a less frequent mailing schedule, I might miss the opportunity. Sharon

Terry Hershberger · Answer

Brandon, If you are close on price, maybe you can adjust terms to offset price issue. maybe tweek the offer a smudge or find out what the seller "really" wants or needs. I have tweeked offers before and ended up with a sweeter deal for myself and the seller was happy!

Chris Feltus · Answer

Yes, absolutely continue mailing. Time and circumstances change everything. Read this case study I did on @Sharon Vornholt blog on this precise subject. No doesn't mean no forever.

Brandon Turner · Answer

Thanks @Terry Hershberger and @Chris Piper . So - would you advise putting the offer price in the letter each time, as a reminder?

Chris Piper · Answer

I would mail to her every 3-4 weeks. Everyone's circumstances change with time. Maybe you are close now, but maybe in a couple of months, she will just need to get rid of the property, and will do so at the price you offered. Just an FYI, if you are at you MPP(max purchase price) and she rejected it, keep mailing to her, and stick with the same exact offer each time. Don't lower it to prove a point, and don't raise it unless you can afford to. Keep it the same if that is what you can afford to pay. Also, do it the same way with banks as well. Never lower or raise your max offeroffer. If you are at your max offer, then keep offering the same offer every 3-4 weeks until it's sold to you, or someone else.

Terry Hershberger · Answer

I would keep mailing her every 3-4 months, as life continues everybody's needs change.