How to Attract the Move-Up Buyer… with a Home to Sell Too!
This report contains sound marketing strategies for any market. However, today things are changing so fast that we’ve created a new webinar showing you the newest strategies for how to generate inbound listing lead calls!
Dear Friend & Colleague,
This strategy could be considered both a listing strategy and a buyer strategy. And it requires a little bit of research.
The first thing you need to know is the average time a homeowner in your area owns a home before selling it to move-up. You want to find out what Tom Hopkins refers to as the "itch cycle" for your area. The itch cycle is how often someone moves. In some areas it’s every seven years. Other areas it may be every ten to twelve. The key here is to find out what the average is, then target homeowners eighteen months either side of the average.
For example, if the itch cycle for your area is seven and a half years, you would want to target anyone who has been in their home for six to nine years. This three-year window is your best target for the move-up buyer or seller.
Once you know what your itch cycle is, you need a list of homeowners in that range. You can research public records or you can purchase lists from various companies, like Edith Roman and Cahners Business Lists.
Once you have your list, this strategy is somewhat similar to other strategies we cover in your course materials. Your first objective is to identify the prospects on your list that are part of the "active market". Like the other strategies, you identify your "active" prospects by getting them to inquire for a "free educational report". Then, once they’ve requested a report, it’s simply a matter of following up with them until the timing is right and they convert.
One agent summed it up by saying, "It’s all a matter of timing and having the right offer. Your letters really do the trick. I mail a target farm of about 500 homes every other month just like you laid out. The results have been 7 listings and 9 buyer side transactions in the first four months of this year from this one single approach. Your other materials are producing transactions to, but I really like the Move-Up market."
A 3-Step Mailing Program for the Move-Up Buyer / Seller
Because of the lower urgency level, the move-up buyer should only be mailed every other month. Then, once they request the report, your follow-up system is the same as any other "active" prospect. But the target group in general should only be mailed every other month.
The letters in your course materials can be mailed again and again. The first letter appeals to the idea that they may be able to lower payments and own a nicer home. The second letter relates to ways of removing the stress from the transaction process. And the third letter provokes interest with the thought that you may have a buyer interested in their home and they need to act quickly.
Then your course materials presents a series of follow-up letters that take a similar path. The first one focuses on their equity and how it could be used to help them move-up. The second letter again tries to entice them to consider moving because you have buyers that may be interested in their home. And the third letter tries to provoke interest through easy financing options.
The reason you can mail and re-mail letters using these ideas is your prospect won’t receive a letter focusing on the same idea for a few months. By this time they’ve completely forgotten the content of your other letters. Therefore the process can be carried out almost indefinitely.
The only thing you need to do is alter each letter slightly so it doesn’t appear you’re sending the exact same letter. For example, change the number of prospects you mention in the letter about a potential buyer. Also, you could reference earlier letters you’ve mailed them, "I’ve written you a few times over the last eight months." Make your letters look more personal so it doesn’t look like you’re just mailing the same letters over and over. But you can use the same ideas again and again, the key is to make it look personal.
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