Real Estate Agent, SEO Coach, Webmaster, Speaker, Trainer, Author, Consultant, P2A Preferred Vendor
Do you do direct mail prospecting? Does it work?
Geographic Farm? FSBO or Expired Programs? SOI ?
Letters? Postcards? Flyers? Branded? Stealth Stuff?
What works for you ?
What!!
Lonn ,you didnt get my card I mailed it over 3 weeks ago,ha ha
Vance
I sent a first batch of postcards to my new farms just last week ... 3 subdivisions that seem to be doing great in terms of under contract homes no matter how slow the rest of the market around here is. I am not expecting any big results from the first mailing but will see what the future brings. I also sent cards to expireds and cancelled in my area from the last 12 months ... nowadays, it seems to be paying off being the SECOND agent. I have two different postacard designs that I am planning to mail them repeatedly. The goal is either get some calls or get them to visit my website.
Lonn, I've been sending a newsletter or "item of value" to the same farm for over two years. So far, nada. Funny, though, I have a listing that just got an offer and the buyers are a couple who are in my farm using another agent to buy my listing. Is that what you would call ironic?
Nope... just the free turkey drawing flyers, as far as responses not business. Marcia and I sent a monthly newsletter to our farm for over a year.. nada - I think door knocking with these goodies get a better response than snail mail.
Jana
I had a pre-listing appointment not too long ago (they haven't decided yet if they want to sell or not) ... this lady called me off of a postcard that I sent her more than a year ago!!! She saves all of the real estate mailings she gets ... she told me she called a whole bunch of the agents from these mailings and scheduled appointments with the first five who responded to her calls. I was the first one to call her back and see her house. I hope more people are keeping these just like she is!
Well, I have had 3 pre-listing appointments, but I lost out all three times because I accurately priced the home. (that means the sellers thought it was worth more)
Belinda, don't worry ... just wait and be their second agent once it expires :-). A lot of sellers aren't serious about the true selling price until they go through the whole "list high, change price couple of times, fire the Realtor" scenario ... then they are ready to get down to the business!
Prior clients and a small SOI get snail mail newsletters once every six weeks. Other than that, all oir marketing is on-line.
If you're going to do direct mail prospecting, you have to do it consistently. Miss a month and you might as well start over.
I probably get 10 - 15 items a week from agents in my mailbox. I just don't see the point in spending the postage to compete with all that.
Jay, I only get mailings from other agents maybe once a week if at all ... if it is the same situation in the neighborhoods I'm targeting, I might not be up against as much competition here. As much as I would love to reach these hot neighborhoods using online marketing, I really don't have a way of doing it. That's why I'm hoping to bring them to my site using these postcards.
I target mainly FSBO, expireds and cancelled. So far I'm getting calls on about 1-2% of the mailings but not solid listings from them. I was doing a geographic farm for awhile but nothing came up from it but then I think when I switched companies it was like I was starting over.
I do direct mail - but right now only to apartment dwellers. I started with one complex in March, and slowly picked up 6 more - a total of 7 and over 2100 apartments. I have 5 mortgage brokers assisting with the mailing campaigns.
So far nothing. Then I found out that most apartment dwellers move in the spring (40%) and fall (30%). I also found out that the messages I was sending was right on target, but the timing of each message was wrong. So, I reworked my direct mail campaign, and have gotten a few hits. Nothing major - yet.
I also target FSBOs and the occaisional Expired Listing. I recently got a listing on a postcard mailed to an expired. Overall, I'd say direct mail marketing is not great, and neither is my online marketing efforts.
But I'm convinced the messages I'm sending out are good (the messages all have the same theme - "What's In it For Me?" (meaning the prospective customer.) It just takes time and enough mailings for them to get used to you.
One thing I tried last year that actually brought in calls was dropping off Marketing Proposals to FSBOs. I may go back to that, because that was the only thing that made my phone ring!
What I have found mailing dont mean much unless you are going to follow up with a phone call or a visit.
The only direct mail marketing I do are just listed and just sold postcards on my listings and market updates. Still, with these....nada! In my opinion, direct mail is good for getting your name out there, nothing more. With internet marketing, buyers and sellers are looking for you rather than you searching for them.
That's weird. I list one or two FSBOs per month from direct mail...
Nobody else?
Most FSBOs I run into are already listed as Flat fees in the MLS anyway, therefore, I can't go after them as it would violate agency rules. Therefore, FSBOs would be probably the last ones I would be mailing to.
I have been thinking about sending mailings to people who are going through the pre-foreclosure process.
Agree totally with Jay and Francy. Jay and Francy are ON THE BALL !!
"That's weird. I list one or two FSBOs per month from direct mail..."
Maybe you're just better than everyone else Lonn!
Jay... Really.... I struggle with this. I don't think my letters are all that special... It is obvious that they work, but I don't know why others are not having the same success with letters.
I have been told that letters don't work, and I should use postcards, but letters are cheaper and easier to spit out than postcards, so I have been using letters.
Yes, I worked on them for a while, but c'mon.... They are FSBO letters.
Michaela:
Where do you get your mailing list for pre-foreclosures?
Others tell me I can get NOD addresses from the title co, but our title companies around here act like I am talking greek when I ask about this.....
Holy smokes! I just saw this... Lonn, you list 1-2 FSBOs per month just by sending out letters? So you're turning about 18 FSBO transactions per year (give or take 1 or 2)? That's phenomenal... you are truly a real estate stud!! What is your ratio of transactions to letters? It must be MUCH higher than the national averages. Color me impressed!