Direct Mail and Minnesota Market Update

[Matthew Berry]

Friends,

I'm looking for some insight regarding marketing in this extremely strong seller's market that we're experiencing right now in the Twin Cities.

I've been doing direct mail for quite some time. My observations have been that leads have been less profitable than what I've heard of in the past. There are a good number of people calling, but demanding more than what I can offer in order to make a profit. Sellers know that they can throw a sign in their yard and make a premium in this market. The MLS also has few deals right now.

So this is my question, do you pause marketing and wait until the market shifts?

Fortunately, I have a well-paying job so I can afford to put investing on hold. However, I'd prefer not to be throwing a big chunk of chain on direct mail.

Thoughts?

Also, I mentioned this at the BP meetup last week, but here's a link to the "Monthly Skinny: July" posted by the MinneapolisRealtors group on YouTube.

https://www.youtube.com/watch?v=_cCyw7J4LOM