Wholesaling Tips with Probate Leads
As a real estate wholesaler, you’re working hard to turn leads into sales, and that means you need your market efforts to have a quick ROI. This couldn’t have any more truth to the matter when it comes to your wholesaling yellow letters campaign that is focused on probate leads.
Those not in the business may see your working probate leads as a vulture type mentality. But it is true that the best timing is to ‘hit while it’s hot’ because if you don’t somebody else will. Especially when it comes to absentee owner leads for real estate wholesaling. So, how can you get the most from your probate leads using the yellow letter method?
Your Probate Leads Need To Be Filtered
You already know how and where to get the info needed to create probate list. All the information you need like the names and addresses are waiting for you at the court house. And you know that a direct marketing campaign is one of the best methods.
To get the most from your wholesaling yellow letters campaign with positive responses, you should filter through those probate leads first. Here are three tips on how to do just that:
- Confirm that there is real estate in every probate file your pull. You can do this by cross checking county tax records with each name and address you pull.
- Do not mail your yellow letter to a parent or spouse. Nine out of every 10 parent or spouse that receives your yellow letter is going to see you as a vulture. So, mark those address off your probate list.
- Focus on the executor of the estate which live out of state. They are going to appreciate having somebody to help them with this inherited property.
This technique of filtering your probate least will save you time from putting together the mailers that will only result in no response. And you know, time is money. It will also save you more money by keeping you from mailing your yellow letter to probate leads that are not going to be receptive. These two factors together will increase your ROI with more positive responses.
Have Proper Structure In Your Yellow Letter
Your yellow letter is advertising and an successful advertising campaign is one that addresses how you have a solution to a possible need, even if there are people that don’t realize they have a need. Humans tend to be naturally responsive to suggestions, meaning, we need a nudge to take action in finding a solution.
Your yellow letter should have the proper structure to do just that. What does proper structure include? Here are 5 things you want to make sure your yellow letter includes?
- 1): Mention their possible pain and the problem that has come from that pain. Once you have a person recognize that yes, that is their problem, you have their attention.
- 2): Create a call to action and furnish your phone number. A toll-free number preferably for those out-of-town executors.
- 3): Offer a solution will let them feel that there is someone on their side and have a desire to help.
- 4): Create a second call to action with your phone number that suggests they call now.
- 5): Have something to offer them for an immediate gratification, such as a special offer within the next 48 hours or a free report about the probated property.
Your yellow letter message should be short and to the point with that point being you are available to make handling this probated property easier. You should state the different ways you can assist them, like you buy houses, have a quick closing, and work with cash offers so there is less red tape.
