All Forum Posts by: Travis Hamilton

Well, the ringing phone has started to die down from the 1st mailers.  I ended up with 26 solid call backs + 4 call back from real estate agents (the folks handed the letter to their agents apparently) for a total of 30 responses.  I haven't followed up with the agents yet so I can track the houses but I'll get that done tomorrow.

"Kinda"-Final Results (I'm sure there is still a call or two out there):

• 30 Calls = 6% response rate
• 6 of the callers already had their home listed w/an agent
• 1 of the calls was the "never call me again" voicemail (ironic since I never actually called anybody that didn't call me first).
• 2 of the calls were the "We're not considering selling at this time but thanks for the letter" types.
• 12 were tire kickers - I've added them to the follow up schedule.
• 3 I'm still playing phone tag with but they all have called back at least one additional time.
• 4 are in the "somewhat" motivated stage.
• 2 are in the "REALLY" motivated category - both are out of town and we're setting up times to get into the houses.

One interesting thing I have found (those of you that are pros at this probably already know this) the more I could just listen and get them talking the better off I was.  At least 4 of the callers owned multiple houses.  2 of the leads I'm working have multiple houses that they would consider selling.  And one of the "REALLY" motivated leads has 3 houses she wants to sell!  It made me realize that I need to focus on getting them talking, asking open ended questions and never push to close in these initial phone calls.

Thanks for all the suggestions, advice and input - any many thanks to Jerry Puckett for helping me with this!  Can't wait to get the next 500 new names out now!!!

@Andrey Y. - as I was mentioning in an earlier post (and with all due respect to Jeff) I wouldn't feel bad for a second about using a voicemail box to collect incoming leads - especially if you are working a full-time job.  

I got exactly 3 hang ups + the 1 message.  2 of the hang ups were from the same gentlemen (I called him back) and he was nice and sweet but was so old that he could barely operate the phone.  I did finally figure out who he was and I have him set to follow up with but at worst I missed a couple of leads.  And I'd bet lunch that neither of those leads were REALLY motivated.  If they were motivated they would have left a message.

If I were in your shoes I'd go the voicemail route all the way and call the folks back when you get back from the office.  I had great success with getting back to everybody.  I did attempt to call them back at about the same time they left a message for me.  If they called at night, I called them back the next night.  If they called me 1st thing in the morning, I called them back 1st thing in the morning.  

Best of luck!

@Account Closed - I'll get a scan up of the letter when I get the next set of letters arrive.  Right now the campaign is "unique" because it's the first and using a brand new number, so I know where they are all coming from.  But to your point, I did get a few people that looked me up online (one actually sent me an email) before they called.  So some type of squeeze page to collect info may not be a bad idea.   We'd just have to test is and see whether it takes away from the simple, straight-forward and personal feel that this mailer has.

@Jeff Copeland - I hear what you're saying about being able to answer the directly when they call and I would certainly love to be able to have somebody available to answer at all times.  But honestly, I'm torn on this one.  Unless I could have somebody answer the phone that I'm comfortable with walking through the entire script and qualifying the lead right then and there having a virtual receptionist to transfer the call to me isn't really the impression I'm looking for.  

The small time operation approach (I really have started driving that home when speaking with these leads) has resonated well with everybody I've spoken with.  They all automatically start out assuming I'm trying to steal the house from them but when I let them know we are just a small business (my wife and I really) they seem to drop their guard and will do a lot more talking.  Plus, I'm in and out of the job site all day, looking at other houses and very rarely is there a good time to step away and have a 20 minute conversation with somebody about the details of the house they are looking to sell.

I do hear you and depending on the size of the mailing list that I ramp up to I may actually consider hiring somebody that can be available to answer the phone (plus do some other marketing type work for us) and can walk through and qualify a lead right when it comes in.  I'm a couple of deals away from that and will certainly consider it!

 @Kyle Scholnick - Jerry pretty openly shares his business, tips and strategies so I doubt it will be a big deal.  But let me shoot him a note and make sure I'm not stepping on any toes.  If he's cool with it I'll post a scan of one of them when I get the next batch of letters.

YES.  Even will all the major "systems" and parts replaced and repaired the older home is going to suck up more time and money over the long run.  Depending on the date and location of the house (as long as it was constructed after some semblance of building code existed in the area) you may not as dramatic difference between a 1950's house and house built in the early 90's in terms of long term maintenance.   However, start taking that back to the 40's, 30's, 20's, etc. and you'll find that fixing/repairing anything, no matter how recently it was replaced is more expensive and time consuming than a more modern counterpart.

>>Speaking from 7 years of experience living in and owning a house built in 1912<<

@Mauricio Hernández - here's is Jerry's BP info.  

And for what it's worth (in my 3 whole days of direct mail experience) there is really more to the response rate than the list.  Yes, the list helps and is important but the letters, envelopes and copy are freakin' awesome.  Very simple but if you got this in the mail they are almost impossible NOT to open.

After many hours of networking and burning up the phones with local wholesalers the writing was on the wall that if I want to get the volume of deals done that I expect for this year, that I was going to have to find them myself.  Jerry Puckett's (sorry Jerry, couldn't tag you for some reason) slogan "Market Like A Wholesaler" really started to resonate with me so I took the plunge and signed up with Jerry to get some direct mail out the door.   Here's the info:

• Signed up for 1,000 name list (purchased via Jerry)
• First 500 letters arrived early last week.  Got them stuffed, stamped and out the door last Friday.  BTW, the letters & envelopes looked awesome and were quick and easy to get ready.  For the icing on the cake, I used Harry Potter stamps :)
• I'm assuming the bulk of the SW US letters have hit and the rest will be arriving in the next couple of days.
• So far, I've received about 20 calls back.  The reason I say "about" is because a couple of folks left the "I'm not selling my house, so don't call me back" message with no other info.  And I think the same guy called a few times, to really drive home the point.  He didn't leave any info so he'll be in for a surprise when he gets his 2nd letter next month!
• I got 17 calls with solid information and have spoken to 5. 3 out of the 5 are listed with an agent currently. 1 has been on the MLS forever and will expire at the end of the month, so I'll put the full court press on May 1st.
• 2 calls have already bowed out (one house is in a Life-Trust(?) and she can't sell and the other said to never call him back).
• One of the calls sounds like there may be real opportunity and I'm scheduled to check out the house this Saturday.
• I'll get back to the other 10 that left messages tomorrow (one lady called and left 3 messages - I'm looking forward to getting her on the line).
• As well, I'm assuming I'll get a few more calls tomorrow.
• 3.5% response rate (that should go up when the rest of the letters hit).  
• The last 500 names will be getting their 1st letter here in two weeks.

So far so good!  Can't wait to dig into the remaining leads and see if we can track down a deal.  And for what it's worth - if you are considering direct mail get in touch with Jerry.  I cannot imagine a nicer, more helpful man to work with.  Thanks for everything Jerry!!

This by far, was my favorite voicemail of the day!

@Matthew B. - Good luck with the place!  Hopefully, you'll get your number.

Just out of curiosity, how much money did you end up putting into the place?   

Weirdly enough, I was just in a house in Pensacola, FL where the previous home owner had put that same exact tile that's in your kitchen in their GARAGE, surrounding a little parquet dance-floor looking thing.  Must have been a hell of deal going on for that tile at some point 20 years ago!

If you live in or around this neck of the woods (Destin / Fort Walton Beach) it's worth stopping by to meet @Matt Robinson and the rest of the RE investors that attend.  

I'm pretty sure I know the guy that Matt is talking that found his money / JV partner at the last meeting. And if you know anybody else with a deal looking for some money I'm sure he's willing to listen :) - we'll post more about the new deal in a deal diary here shortly!

Anyway, if you are around it's worth the time to stop by!