Plain and simple.
Motivated sellers might not be motivated the first time you reach out to them.
You’re reaching out to sellers who are going through a tough time and it can take a while for them to realize what they need out of the property and don’t mind taking a discounted offer to get out of the property quickly.
Until they reach the point that they’re ready to take action, they may not be concerned with online or mailed advertisements on selling their home.
That simply isn’t their concern at that moment.
So how do you get around this hurdle and make sure your information is in front of them when they’re ready to sell?
Not just once.
Not just twice.
You need to be consistently following up with your leads because when they are ready, they’re most likely going to take the path of least resistance and contact the first option that lands in front of them.
This means setting up a campaign that allows you to reconnect with them (online or by mail) on a consistent schedule automatically.
When they’re still cold leads that haven’t responded to your previous marketing strategies, it might be good to switch up your message or vehicle of delivery.
If a postcard wasn’t successful after 3-5 months of mailing, it might be worth it to try sending an actual letter that has personal information about you (including about your family) and how you’d like to be a solution if they’re needing to sell their house quickly.
What are warm leads?
Most would consider a warm lead in this industry to be anyone you’ve had an appointment with that didn’t result in an accepted offer AND they haven’t closed on the property with someone else.
For example, the seller might not have been ready to sell their property to you when you met with them originally. Now that they’re 3 months behind on their mortgage and you’re offering them a cash offer that can allow them to walk away from the property in a few days instead of going through foreclosure, your deal suddenly sounds pretty good.
If you had stopped following up with them, they would have contacted any other investor who was still following up with them and they would have gotten that deal.
For a property going through probate, the heirs of the property might not be ready to sell the property due to an emotional attachment to the property.
In that type of case, you need to make sure your follow up communication is filled with genuine sympathy and understanding of their situation and you wanting to help them out if they’re wanting to sell.
Following up for months and months might not sound like a good use of your marketing budget but without it, you’re losing out on deals!
Getting a few extra deals a year from follow ups can add up to a lot of money.
Don’t leave money on the table.
Follow up consistently, always.