My partner and I use property radar for a good portion of our mailers and they also include 250 emails with our subscription. Im just curious if anybody else has been emailing blind offers out, I haven’t seen too much in regards to emailing. So far we have one decent sized deal almost fully converted and I have 2 I am working now that are both looking pretty decent. All from sending about 235 emails in the past 2 months in some spare time with a roughly 4% response rate. We are starting next week shooting for 200 emails out a week and cutting back on our mailers. Does anybody else use emailing as their main source of marketing?
Thanks for sharing those stats, it sounds like there’s something there with the email strategy!
I know a few people who are doing this, but it’s not mainstream enough to have any widely known and established ‘best practices’ yet.
When we talked with @shemtov in episode 170, he explained a bit of his strategy to us, which was awesome.
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Thank you for that @retipsterseth !! That’s a very different approach to our current method of emailing, and something I may add into the mix over the next few months. I’ll be keeping track of our emailing stats over the next few months now that we decided to push blind offers via email, i’ll post the results once we have a 2-3000 email sample size.
How are you sending the emails? To what list?
What are the rules for sending emails to a list that has not opted for a subscription? Or does that not matter if you are asking to buy something from them?
@Ryan91 tell us more about how you’re doing this!
What software are you using to send out these emails? What do you say in your emails? I need to know more!
So we use property radar, when I’m sending blind offers I don’t put a list together, not to say you couldn’t I just prefer not too as most times I find myself slightly adjusting filters as I go. If your familiar with property radar I go through and put my filters as if I was creating a list but don’t actually create it. I will zoom in to the areas I’m marketing and click through each property on the map, usually with Zillow open in another window mirroring the map on property radar. From there, it usually takes me less then a minute to see if its worth it for me sending an offer, and another minute for a rough price evaluation. I average an email every 3-4 minutes. I will typically offer 50% of market value, with the intent to negotiate down if they accept. Every email I send is just copy pasted, only changing the offer, location and subject line. I pretty much just send out " hi my name is Ryan and im currently looking for land in the Suffolk county area. If you had any interest in selling your property on Lake Shore Rd, I can make a cash offer of $10000, pay all closing costs and facilitate a remote closing"
There are a lot of different filters that I think will produce good results, I’ve had the best luck with properties that I can see the purchase price. If the numbers work I try and create a win win, by offering more then they paid for it while still having a comfortable profit.
One thing to add, I specify in ALL of my marketing that we are absolutely not wholesalers. Nothing against them, it was part of our original intent, but ive gotten a lot of responses at the beginning of people responding they won’t deal with us if we were. Apparently some had "bad experiences " so we removed it from our marketing for a while and have seen slightly better rates.
It’s a more time consuming method for sure, but it works for our business alongside of our mailing. I actually haven’t sent a single email out since my last post as our mailers brought in a couple deals that same day so ive been working on those. Once im all squared away ill be back to emailing.
Hope some of this helps y’all out!
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So you are sending manually?
Are there any rules that prevent someone from just mass emailing like this ? antiSPAM laws?
Anything you do to prevent emails from getting blocked by inboxes or sent to the spam folder?
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Ryan,
Very helpful and interesting. Can you follow up on your emailing campaign, how you get around the TCPA laws and any rough statistics you have seen with email versus mail? Thanks in advance.
Great, thank you for sharing this.