First post here and just joined! Been listening to Seth on the podcast for some time and def my favorite land podcast.
Anyways, I’m in another coaching program and just starting to send mail. Blind offers seem to be the norm there although intuitively range offers seem like a better option to me for a couple reasons. 1. It accounts for the variance in quality of the parcel (meaning my blind offer might be high for lousy parcels and too low for great parcels). 2. Will probably get less backlash about low offers. 3. Will likely generate more leads. Etc.
Seems smart to me so I’m going to trying this out moving forward. Any input on above considerations is appreciated or other pros and cons but I’m also wondering about some specifics from those that use them:
Are you giving an actual offer range? E.g. 23,000-35,000. Or a PPA range? E.g. PPA 2100-2900.
How are you establishing your range? I know theres for sure some variance here but median PPA x 45% (low end) and median PPA x 65% (high end)?
Just looking for some experienced insight as I’m drafting my letter and data.
Your thought process seems to check out. I would mostly agree, even though there are many things that can affect those points you mentioned.
Some people spend weeks pricing a single blind offer campaign, getting rid of bad parcels, accounting for variances from one subdivision to the next, and more. This will bring out a different result from someone who spends 10 minutes pricing their blind offer campaign.
What do you mean by PPA? Is that price per acre?
I think you could go either way. You could give them an offer range on a per acre basis or you could do a little more math in your spreadsheet before the mail merge, so that each recipient sees an actual range relative to the acreage of their parcel.
This would just involve a couple more steps in your spreadsheet to calculate the range based on the acreage of each individual parcel.
I’m not sure who your coach is, but I’m surprised they wouldn’t give you more explanation on the different options and how to implement them. Especially with the current state of the market, blind offers can fail pretty bad unless you know what you’re doing when putting the campaign together.