What are Real Estate Prospecting Letters?
Snail mail in a digital age may seem like a waste of time, but that couldnât be farther from the truth. When people receive letters in the mail, they spend more time evaluating if itâs junk mail or has some value to it. In real estate, that extended time of deliberation can be extremely beneficial in becoming the one named in a referral to someone else or having someone pick up the phone and call you to help find their next home.
Real estate prospecting letters target potential sellers interested in moving or selling their home.
Prospecting letters are one of the most meaningful lead generation avenues available. Due to the nature of a personalized letter, sharing relevant information, and passing this in a physical form, there are many advantages to letter marketing.
What is the Value of Writing Real Estate Prospecting Letters?
The initial value of a prospecting letter is that it is more intimate and directed than an advertisement broadly placed online or in a newspaper. Because of the increased cost per letter (the stamp, in addition to the cost of printing the letters), it is essential that you take the time to properly plan out your marketing strategy.
Here are a few great reasons to send real estate prospecting letters:
- Youâve recently sold a home for over the asking price in that area. The goal is to get other potential sellers excited at the potential of selling their own home while the environment is good to sell.
- Youâve recently sold a home with incredibly fast results in their area. Much like the previous point, the idea is to get the owner excited about the potential of having similar events replicating to their own transaction.
Tips for Writing Real Estate Prospecting Letters:
- If youâre writing just a few letters, consider writing them yourself rather than typing and printing mass-producing them. Handwritten letters show more of an investment that people notice! Additionally, small personalized notes go a long way in letting people know you are thinking about them.
- Write your letters in your own words and not as a sales pitch. For example, nobody thinks of their home as âinventory.â In this instance, telling a family that âinventory is lowâ means nothing to them â and actually might make them less inclined to work with you because of your inability to relate.