Direct Mail Then What?

[Brian Stefanelli]

So I understand the basics of direct mail campaigns but my problem is knowing what to do when someone actually calls back!

I am probably over analyzing this but I don't want to sound like a total idiot.  My question is what is the process once you do receive a call from a motivated seller?  Do they suggest a price they would be willing to sell for? 

Do you then need an attorney to create a purchase agreement? 

What is the formal/informal process?

The only experience I have is buying my primary residence in which I used an agent to acquire.

[Justin Silverio]

There are 4 goals for me on that initial call:

1) Identify motivation
2) Build rapport
3) Understand extent of repairs
4) Get a price

After gathering this info, I will do a quick analysis and get back to them with my ball park price.  If we are close or if their price is in my ballpark number, I will go out to their house.  If not, I will put them on a follow up call.

I used to go to their house with a purchase contract but now I don't.  I feel it's too pushy and presumptuous in the sellers eyes so I just continue to build rapport with them and tell them I will call them later that day with a final price.  Honestly, I don't think I would close more deals with a contract in hand anyway because most want some time to think about it and it's not my style to talk them into selling.

You can use a state approved contract for your deals or have an attorney draft one up for you.  Mine is a 1 page document that is very easy to understand.