In the real estate industry, direct mail marketing has long been considered one of the most effective ways of stimulating leads for both realtors and investors alike. Even in today’s economy, when many major cities have become sellers’ markets, direct mail marketing still produces consistent, high quality leads that generally offer a higher upside than those deals found on the MLS.
However, many investors do struggle to see consistent results from their direct mail marketing campaigns. One reason for this is because they fail to send out their mailers consistently and on time each month.
Any investor that has experienced success with direct mail marketing will tell you that, though it can be difficult to have the discipline to continue mailing each month even when you’re not getting the results you’re looking for, sending your mailers consistently is an absolute necessity.
Another reason investors fail to see the results their looking for from their mailing campaigns is because they’re not mailing to the right kinds of owners. Below, we have some of the best ways to compile mailing lists that offer you the best opportunity to see immediate, significant results from your marketing efforts.
Different Direct Mail Marketing List Options
Driving for Dollars
Driving for dollars has long been considered the easiest way for new investors to compile a unique, high quality mailing list to get them started in their direct mail marketing efforts. Driving for dollars is what it’s referred to when an investor drives different neighborhoods themselves in search of homes they believe look like solid leads.
To use this technique, the investor will drive a neighborhood and take note of all the homes that show the usual sign of being neglected or vacant: long grass, rotting rood, mail piling up, “for rent” signs, etc.
You’ll inevitably come across many absentee owners in your driving for dollar efforts; however, you can also buy absentee owner lists online. Absentee owners are simply owners that don’t live at the property themselves (landlords). Even better are those absentee owners that live out of state.
Free and Clear Owners
Free and clear owners are those owners who own properties outright, which is to say they don’t owe anything to a mortgage company. This gives the owner much more flexibility when negotiating terms for the sale of their home.
Probate properties are properties whose owner has recently passed away. Though probate properties can often be involved in complicated court processes, they can also be a source for great deals. You can buy lists online or put them together yourself via your country records.
As is somewhat self-explanatory, pre-foreclosure properties are properties whose owners have missed mortgage payments and are facing going into foreclosure. While pre-foreclosure properties can also be involved in very complicated court proceedings, they too can offer potentially great deals.
Direct Mailing The Right Types Of Owners
Are these the only kinds of owners that offer the opportunity for great deals? Of course not! However, they’re definitely enough to get you pointed in the right direction as you try to get your mailing campaigns off the ground and successful.
Just remember: if you don’t think you’ll be able to commit to sending out at least 6 months of consistent mailers, then you can’t expect dramatic results (no matter what list you’re mailing to). It can often takes seller seeing your letters/postcards 3-4 times before they are moved to take action.
I am constantly offering new tips and free workshops, check out my bio link for more details. Wishing you all investing success – Simon