Direct mail (yellow letter) phone calls - What do I say!?

Question

So I am actively sending out my yellow letter director mail campaign to my local zip code, for the purpose of wholesaling but I'd also consider buy and hold AND buy and flip for the right deals. It's basically just an equity list. Owner occupied AND absentee. The problem I'm running into is what to say when someone calls on my letter.

The most common questions I get are: (and have no idea what the right thing to say is...)

- Why did you send me this letter? Do you think my house is for sale or something?

- If you want to buy it, then what'll you give me for it?

- What's your offer?

- What do you like about my house? (they often assume I know what house is theirs)

- Who are you?

- Are you a real estate person?

These are all very valid questions based on my letters, but I'm really uncomfortable combating them. I just don't know what to say. I don't know how to casually and comfortable carry the conversation. Which is strange, because I love talking to people and I'm normally very good at it! This is just a different beast! I'm in the Akron / Canton Ohio area and have a very diverse market here, but with that come a vast array of different people to talk to. Again, I'm looking to wholesale these properties but will also consider buy and hold as well as buy and flip for the right deal. I just want to know what to say! lol.

Thank you in advance! Any feedback is greatly appreciated!

Brian Jordan · Answer

I mail anywhere between 12,000--20,000 yellow letters every month. I have PATLive as an answering service handling the initial call and gathering basic info. (Reason for selling, current condition of the home, how quickly they need to sell, asking price, is that price negotiable) I would tell them that you buy house in their area and that you send letters to people just to see if they're interested in selling. If they say "I'd sell for the right price", it's probably not the motivated seller you're looking for. I've actually had a police officer from a Township in Cincinnati, OH call me because my letter apparently scared one of their residents, lol. Someone mentioned before me to buy Michael Quarles course. He has some good info but I personally don't believe in his philosophy or strategies. You can find all of the training you're looking for by listening to podcasts. Joe McCall, Sean Terry, Tom Kroll, Michael Quarles, Biggerpockets, Investor Carrot and so on and so on. Search YouTube for "motivated seller calls" or "" asking to motivated sellers" and you'll probably find some live calls. Once you get their address, get off the phone with them to do some research. Once you figure out the range you'll be offering, call them back and tell them where you're at. Don't waste your time going to look at the houses that the owner is expecting double your figure. I did that when I was first mailing. I ran to every house that called and waste a ton of my time and the sellers. 95% of the deals I contract now are done over the phone, sight unseen. Hope this helps!

Nate Richards · Answer

My take is this, and I have zero yellow letter experience but 11 years industrial automation sales so it may or may not be relavent.

You are getting tripped up because this is not just talking, it is a sales call. You are trying to influence an outcome (get an appointment to view/value the home) not just make conversation. Relax and remember that you are trying to help people, as they immediately assume you want to take advantage of them. People work with individuals they like, and they know when you're lying regardless of their situation so stay likable.

Some good (honest) replies are all you need;

Why did you send this?  "I do mass marketing based on several criteria some recipients are selling but most are not. Are you possibly a seller?"

What's your offer/what'll u give me? (This is your opportunity to close on your next action step) "I dont know a fair offer until I see the entire property, can I set a time to view it."

What do you like about my house? "I dont have the details on your exact property at this moment. If selling is something youre interested in investigating, we can discuss details after a walk thru."

Who are you/are u a RE person? "I'm not an agent, I'm a cash buyer/wholesaler/etc looking for mutually beneficial RE transactions (I.e. quick sale/no agent commission for the seller)."

Also feel them out for their circumstances. They are interested or else they wouldn't have called. They might not be motivated enough is what you need to determine, preferably before you waste time on a visit.

Eric Olsen · Answer

Some interesting thoughts in this thread.

I just received my first "hot" call back yesterday from my direct mail efforts which has created a problem.  I dont know the next step but this is precisely the problem (opportunity) I was trying to create.

Going to drive past the house today as I do not even recall it anymore even though it was found a week ago.  I want a visual of it and google maps street view shows only trees.

As for the phone call with the seller, I have two mind sets.

1) offer 30k - this house in an area where the comps are between 150 and 250.  I for some stupid reason have this idea in my head.  Obviously this is NOT an intelligent move because I have not had a walk through of the house and no rehab estimate etc....  If this idea were to be viable for me the backlash of ripping of the seller is what scares me.

2) Just be up front and honest.  Explain to the seller that I am new to all of this, saw this property that sparked my interest, and mailed him.  I am basically flying solo on this and perhaps that we can help each other out.

After thinking about what I wanted to type here it is clear to me what I need to do.  Honesty is always the way.  This way I can set myself up to under promise and over deliver.  If I look stupid after I have declared that I am new, there will be some understanding there.  Also, if this guy does not just kick me out while I am looking stupid, then that would indicate to me that he NEEDS to sell.

Good luck to the OP with his calls.  Perhaps after mine today, I can share some insight.

E

Ryan Arth · Answer

I would try to keep it simple and honest, since this is a numbers game. I am mailing to people in this area to see if they have a house that they need to sell. The NEED should help filter out the  unmotivated. Plus they may refer you to someone that does need to sell.

Best to get in and out quick if they  are going to waste your time.

Joe Bourguignon · Answer

Brian, I'm just wondering how you guestimate rehab costs sight unseen?  That's something that I haven't figured out yet...  OR, do you just offer so low that it doesn't matter, and you have the inspection contingency to back in, just in case?  Thanks!

Joe Bourguignon · Answer

@Brian Jordan, thanks for all of those details!  Getting ready for my first direct mail campaign using yellowletters and patlive.  Any types of postcards/letters that you like more than others?  Thanks!

Robert Wilson · Answer

opening question...

'Do you have a house you're hoping to sell?'

If the answer is yes... It's worth a conversation.

If no, 'next.'

Jay Hinrichs · Answer

sign up for Michael Quarles courses he is a pro in his sales and marketing techniques.. this is all about sales and marketing.. if you can't close you can't be successful... strong closer.

think Car salesmen.. ask for the order.. etc etc.

Also

talk with @Ryan Dossey  as well he is very good at this

Sam Stout · Answer

@Daniel Thomas I've got a 3-plex and duplex in Akron I'd sell.  Send me a message if interested.

Tony Legendre · Answer

Awesome Post!

Direct mail (yellow letter) phone calls - What do I say!?

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