There are different types of leads for every business, and wholesale real estate business isn’t any different. Here at Yellow Letters Complete, we understand that and have source many types of leads, with a focus on absentee owned, high net worth, renters, and for business owners.
Probate leads have become in demand the past few years, and even though we do not source them, because of how different they are from other leads, we have been a help for wholesalers in creating the perfect direct mail campaign. The market conditions do not drive probate leads, meaning, whether or not there is a recession, probate leads are of great value.
Why Are Probate Leads Valuable To A Wholesaler?
A probate lead is an inherited property and the recipient is a potential seller, oftentimes from out of state, or even out of the country. It is common that the person who inherited the property has no need or use for it or may not be able financially or physically take care of the property. As such, they are often willing to connect with somebody that can “help them” sell the property.
Where Can You Find Probate Leads To Wholesale?
There are many independent websites that sell probate leads, but as a real estate wholesaler, you want to be cautious using those. It is best to do your own research as probate leads are a highly valued lead, and you want to make sure you’re getting usable data that has value to it.
The best place to get probate leads is from the source itself, i.e. public records such as the county you want to work in. Probate leads are public record that anyone can access. Google is actually a good source to find out how probate properties are listed by each county.
After you have your probate leads, the next step is creating a multi touch mail campaign that will give you the highest number of responses possible for wholesaling. Yellow Letters Complete offers the following steps for setting up a successful wholesale campaign:
Market Your Probate Leads Successfully With These 4 Steps
The first thing as a real estate wholesaler is that you find out probate leads are more expensive than other leads. But they are worth the investment if you have patience and set up your marketing campaign with empathy, multi touch, and have a variety. Examples of these 4 steps are:
1. Your Wholesale Marketing Plan Needs Your Patience
When you decide to market probate leads, you need to have ample amount of patience. Remember, these are people that are going through a grieving process. Bombarding the will only push them away. Give them time and stay in contact.
2. Plan a Wholesaling Multitouch Campaign
There is a lot going on with probate leads and here at Yellow Letters Complete, we have discovered that by creating a way for your brand to stand out above the others and setting up multiple mailings is the most successful way. A multi touch campaign is professional and shows the potential client that you have serious interest in purchasing their inherited property.
3. Use a Variety of Media Types
Your multi touch wholesaling campaign needs to be more than postcards. Often, a white letter that includes a postcard that is hand-signed gets the best results, especially when a follow up postcard arrives two weeks later. If after a few week you still haven’t received a response, Yellow Letters Complete will send another white letter with your company logo. Follow-up with your leads in a variety of ways, and your high quality leads deserve a fully handwritten note.
4. Be Empathetic in Your Messaging
Our final suggestion is to show empathy above all else. Your letters shouldn’t be too informal, too short, and definitely not too aggressive. Probate leads take a totally different approach and showing empathy and sympathy for the loss of a loved one will put you above all others.