What Do You DO???

Question

Hola BP'ers,

I am starting my very first marketing campaign for wholesaling to smaller unit multifamily (absentee with 40% or higher equity, and code violation) owners. My first set of letters are going out this Saturday.

I have a few questions for you all regarding mailers:

1. Do you distinguish between cell phone & voicemail on your material?? Specifically, should I use my Google Voice number on all my 'throwaway' material, e.g., flyers, CL, etc., and use my cell # for yellow letter & PCs-as those are the leads I work hardest for. Is there a distinction, or am I just grossly over-thinking this?

2. What do you do when you get an irate caller demanding that you take them off your list. Lots of threads about what to say to them, but do you really take them off your list? And if you don't, then what do you do if they call you back after they receive your next mailer?

3. Do you mail all of your material at once, or do you break it down to weekly, bi-weekly or does it not matter at all? Just curious.

I believe in planning & anticipating challenges-when possible. I know that it's gonna be fine, and believe me, I am all in...just thinking thru as many angles as I can.

I really appreciate any input. Thanks!!

Michael Quarles · Answer

I leave them on my list... I use to reuse a list for 12 months however the market is moving faster now and I find that it is cost effective to rerun the list every 90 days. IMHO if 26 people tell you that they want to sell their house or multi-units complex and make an appointment based upon reality land valuations and you cant buy one of them something is wrong with your lead fulfillment system.

Michael Quarles · Answer

Hi Sandy, Primary number which you can route would be your best option. After that then Voicemail may be best option. Maybe not. Depends on your marketing and model. Those who suggest that there isn't a worthy reason to keep a prospect on your list dont understand marketing nor have they experienced buying from those similar prospects Number of pieces depends on time, type, prospect and capture system. Key is to make certain that you have 3 appointments a day. No reason to create 5 and 1 isn't enough. Remember you'll close on average 1:26 so creating 26 should be key.

Catherine D. · Answer

Thank you Sandy -- much appreciated. Have fun with your new campaign! Look forward to hearing your successes with it.

Sandy S Harris · Answer

Catherine Nelson, I actually got the absentee list from my title rep. They have lots of parameters available for free-so the price is definitely right. :-) It's not infallible however, so keep that in mind. I'm currently on a super-tight marketing budget (which is why I'm starting with 475 properties to market to from this list). When I've closed a few deals, I will definitely ramp it up, and go with a professional service like Yellow Letter Mail...meant to say I will use Yellow Letter Mail. As far as code violations, that's a bit tricky. It really depends on what info you can get from your particular county. Seems like some will give you the info right off, and may even have it posted on the county website, so check that out. Here in Los Angeles we are not so lucky. You have to go down to county records and hunt for the info. I don't have a list yet, but I'm working on it, while looking to network with inspectors since they seem to be the Masters of the Universe when it comes to code violations. I also think that you can buy a list from some companies- melissa data comes to mind. And if I'm not mistaken, Michael Quarles can help in that area as well. Good Luck!!!

Catherine D. · Answer

Hi Sandy, May I inquire where your received your list of absentee owners with 40% or higher equity, and code violation? The MLS in my market has really dried up and looking to build or buy a similar list. Appreciate your input in advance. Thx, Cat

Sandy S Harris · Answer

[b]Originally posted by Michael Quarles [i]Those who suggest that there isn't a worthy reason to keep a prospect on your list dont understand marketing nor have they experienced buying from those similar prospects Michael Quarles, I get your point. So what do you do?? Do you just keep mailing to them according to schedule? Do you take a month off, then mail to them. What did you say when/if they called complaining about getting a letter after they requested to be removed? Just trying to get the lowdown here. [/i]Number of pieces depends on time, type, prospect and capture system. Key is to make certain that you have 3 appointments a day. No reason to create 5 and 1 isn't enough. Remember you'll close on average 1:26 so creating 26 should be key. I remember those ratios from my realtor days. I do wonder, however, if those numbers would hold up for my farm-multifamily (2-20 units)?? 26 appts seems daunting-but not impossible.

Ned Carey · Answer

If you are only doing about 200 a month then sending them all at the same time is fine. You will not get so much response that you won't be able to handle it. However if it works better for you budget to spread it out over the month that is fine too.

Sandy S Harris · Answer

Thanks Ned Carey, guess I'll just chill out a bit. I will definitely be answering all my calls-just forward Google Voice to my iPhone. As far as irate callers, you are right. We do the best we can. I don't remember ever hearing about any angry people calling Target or Wal-Mart to stop sending them mailers, so... As far as mailers, my budget only allows about 200 per month-which is why I'm working on making them as targeted as possible.

Ibrahim Hughes · Answer

I have no idea what that's about. Not a wise move imo. I did see where someone stated they would send a letter a couple of months later using the name of another agent and after they've received so much other junk mail. They've then had a chance to calm down. I can see the logic. But for me personally to keep coming at them when they ask me to stop, there's too many folks who don't respond at all who I can keep mailing to.

Sandy S Harris · Answer

Thanks for the reply Ibrahim S. I think going with Google Voice for all of my marketing is probably the way to go-especially after listening to the angry seller call on another post. Obviously, my cell # is on my business cards. I agree about removing someone from your list if they request, and that's what I plan to do. However, I've read many posts here and spoken to realtors & investors that say they emphatically do not remove them...what gives?