Marketing for Land

[Bill S.]

So I have an opportunity to market an area that is in rapid change. The lot value is greater than the home values in cases where the land has enough square footage (about half the lots in the area). So I have a price that I've been told there is an "unlimited" supply of buyers for. It is also more than about half of the homes on the large lots are worth. 

I'm going to be targeting direct mail to all the large lots but was wondering if I should put an offer price in the direct mail? Would that bring a greater response than if I just offer to buy? 

There are no issues with ARV so there would be no need to back off my offer amount.

What advise do you have?

Thanks.

[Jay Hinrichs]

@Bill S. The idea is to get responses I think If put a price in some owners will dismiss without engaging you.   We do a lot of direct mail for Lots... Now these are true vacant lots.. So there is not near the competition from those mailing to existing homes. and the list is much smaller.. So we customize the letter and individually sign each. nothing looks mass generated.. Then the idea is to get them on the phone and start to engage.. Price is something we get into late in the game.. Much of the time its creating a realtionship with the seller as they are not interested at this time but things change.. WE never burn the bring we always leave on good terms and ask if we can call them back in the next 6 months to just check in.. IN almost all cases if you have this relationship they will say sure call in 6 months but we probably don't want to sell then either... Well then something happens and their situation changes and your already in line with that personal relationship.... We did this in the Timber business for years.. Our leads were NEVER dead until the property was clear cut either by us or someone else. Until then they were are clients and we kept in touch as I said 2 times a year.

So if I was going into your area I would create that data base and look at these as long term client bases and keep my name in front of them so if something did change they call you first or are ready to go next time you ping them

I am currently doing this in 2 of my target cities. And we are averaging one deal per 200 or so personal letters... Just learned what the yellow letter was.. I understand thats a mass mail piece... Ours is truly a personal letter personally signed