So last week, our letters went out on sites we’d identified.
Identifying sites with potential is easy, but the next bit is the challenge. Getting a response, then negotiating a deal that works for everybody.
With that in mind, you need to give yourself the best chance of getting a response from the letter, so we have honed our letter so that it’s professional, lets it be known we are serious, experienced, and can drive up the value of land. Another trick we use to increase the odds of a response is to write out the address on the envelope by hand; we find that it gets the best response. When people see that handwritten envelope drop through the door, it intrigues them.
The letter:
We expect a response rate of around 10% on this letter, although not all those responses will want to discuss a deal; some will contact you to say don’t send me another letter!
So, what’s our success rate on the letters sent out last week?
We got seven responses, one of which resulted in a site visit being booked for the weekend, so fingers crossed it goes well. The other six responses were a mixture of where you get my details, I’m not interested, and how dare you contact my elderly parents!
You will upset some people, although we don’t set out to take advantage of anyone. We want to find willing buyers and offer them a deal where we drive up the value of their land, enabling us to pay more than the land use’s current value whilst achieving a profit from it ourselves. I’d say it’s a win-win.
Over the next week, we expect a few more calls to trickle through and hopefully get more site visits booked.
Next week, we will share the site visit details and any other responses we get.
If you missed last week’s newsletter, catch up on it by visiting LANDpreneur.co.uk.