6 Tips For Realtors On How To Craft The Perfect Prospecting Letter
By: Ilan MannMay 12, 2021
One of the most challenging parts of being a realtor – what separates the greats from those who are scraping by – is the ability to attract listings.
If it seems like the top agents are the ones always getting the new listings, that’s because they probably are. Leads turn into clients, who in turn blossom into referrals. Every “For Sale” sign that turns into a “Sold” sign the best possible advertisement for your brand, seen by thousands of people travelling through the neighbourhood. It’s easy to see why every listing is worth so much more than the commission on a single house.
That’s why leading realtors send handwritten letters in neighbourhoods where they want to have a presence. They know that handwritten letters get opened, get read, and get attention.
Here are a few things to keep in mind when sending direct mail to attract new listings.
Pick a Neighbourhood
There is a very common – and very incorrect – notion that casting the widest possible net will catch the most fish. That’s not true if your net needs an upgrade.
Avoid the temptation to drop tens of thousands of cheap flyers to diverse neighbourhoods across cities. Try a smaller, higher quality net.
Choosing one neighbourhood at a time allows you to build a brand within a defined area. For one thing, neighbours talk. Not to mention that people walking the neighbourhood passing by five different signs of yours is much better than having five signs in different far-flung corners of the city.
Send Letters in Waves
Once you pick your neighbourhood, sending multiple letters is a great way to make sure that recipients remember your name.
When they think, “I need a realtor,” they should immediately think about you and the multiple letters you sent them.
Send a series of letters, 4 – 6 weeks apart, and each letter should build upon the last.
Start with a Personal Touch
Your initial letter should include why you’re reaching out to them specifically. Tell your recipients that you’re interested in houses in this neighbourhood just like theirs.
Using data from your CRM, you can effortlessly include details, including the name of their street or how much houses in their neighbourhood recently sold for.
Explain Your Value Upfront
Any introductory piece of direct mail – but especially one where you’re trying to earn someone’s trust to sell their biggest asset – should always include one thing: what’s in it for them?
Explain why they should trust you. What makes you unique? This is the opportunity for your quick and snappy elevator pitch.
Keep your Follow-Up Simple
There’s no need to re-introduce yourself at length in your second letter. Simply call back to your first letter:
“Dear Mr & Mrs. Smith
I’m writing to follow up on the letter that I sent you last month about your house on Avenue Road”
And then re-state or elaborate your value:
“I take marketing for my clients very seriously. That’s why my sale price is always above asking”
Bring it Home with a Call to Action
All of your letters should end the same way: with a call to action. Tell your clients what their next step should be.
Should they call you for a free home valuation? Should they email you to let you know what night they’re free for dinner at a local steakhouse to discuss their home sale? Let them know how to reach you, either in the text of your letter or on the letterhead under your signature.
Listings are about more than just earning your commission; listings are the building blocks of your brand, and therefore of your business.
Sending a series of three letters to hundreds or thousands of homes within a neighbourhood may seem like a considerable effort, but great realtors understand that there is no such thing as overkill when it comes to getting new listings.
All you need to do is get started.