I have a lot of ideas. Some turn out to be a lot better than others. Earlier last week I had what’s turned out to be a very good idea. It’s the kind of idea that will help you sell more houses more quickly.
I’ve had an albatross hanging around my neck for the last few months. Laxed management, dishonest contractors and foul weather combined to produce a flip that finished 13 weeks behind schedule. The place looks great and the budget is still within the margin of error. But 13 weeks! It’s embarrassing.
To say I’m motivated to sell this place is an understatement. Let’s be clear: I’m motivated but not desperate. I still want to make a healthy profit. I just want the sale to close sooner rather than later.
So on Monday I sent out an email to all of the agents that have sold properties near my flip. What a reaction! By the end of the day I had a 40% response rate, 2 showings, and 3 more showings scheduled. In addition, I just received feedback from two of the Realtors letting me know that they had offers coming before the end of the week. All this activity came from 1 simple email.
I don’t like to brag, but to be fair, my projects are really nice. I try to make sure that every house is at least as nice as every other property on the market. Then I make sure that the property is priced just below my high end competition. This email just pushed other agents through the door.
Marketing Email Sent to Real Estate Agents
Here’s the exact text of the email (spelling and grammatical errors are intentional – tell you why later):
Subject Line: 4% to Buyer’s Broker for West Oak Lane Rehab
My name is Josh Weidman and I am a Real Estate investor. I’m sending you this email to introduce myself and let you know about a remodeled property that I just put on the market.
I believe in compensating people that perform so we can all make money together. That’s why I’ve offered a 4% commission to the Buyer’s Broker for the completely renovated property I just put on the market. The property is in West Oak Lane located on Walnut Lane. I’ve put in a new electrical system, new heating system, new roof, new kitchen with granite counter tops, stainless steel appliances and glass tile, new tiled bathrooms, newly stained and refinished hardwood floors and a newly finished basement. You can see all the details on the MLS# XXXXXXXXX.
I’m contacting you in particular because I noticed you’ve sold properties right around the neighborhood. I thought you would be a good person to contact because, obviously, you can get the job done.
Even if you don’t have any buyers right not, I’m hopeful that we can still do some business. I’m currently looking for fixer-upper type properties in West Oak Lane and Mount Airy. If you have nay listings you think I might be interested in, please let me know.
I appreciate your time. Thanks for reading this note. Let me know if you have a prospective buyer interested in my property. I’d love to get it sold quickly. Have a great day!
Yup! Like moths to a flame. I tempt them. I flatter them. I cajole them. I give them every reason in the world to work with me. It worked like a charm.
Keys to Great REI Email Marketing
About the misspellings…we live in an imperfect world that’s full of chaos and poorly written emails. I sent the exact same email to every agent on my list but I wanted each one to get the impression that they were the only agent I reached out to. Adding a little imperfection to a perfect marketing piece somehow seems to make it even better.
Some ideas turn out better than others. Targeted marketing that helps you make more money definitely feels a lot better.