Marketing Strategy Question: Absentee Owners

[Account Closed]

Hello all, 

I am about to start my first mailing campaign. I do not have much to work with, but I am going to send yellow letters to about 500 people/month, for the next 6 months. 

I am going to try yellow letters, post cards, and professional letters. 

I have a couple questions:

1) When a potential lead gives you a call back, and after a while, you realize that you can't come to an agreement on price. Do you still mail to them monthly in case they change their mind or do you stop? Everyone might have different answers, I want to hear YOURS!

2) When mailing to absentee owners, do you remove "in state" owners? I am thinking of removing them because in state home owners are more aware of their home's worth and they are less inclined to sell. However, my list usually decreases drastically. 

3) What day is best to send out your mailers. How long does it take them to receive it if I use first class mail?

Any other tips before sending out my first mailers would be great.

I'd also really appreciate any advice/tips from the following:

@Michael Quarles

Thank you all in advance.