Effective real estate prospecting letters capture attention, get opened and compel action. The most effective letters speak to the individual and give him or her the impression that you have crafted this letter just for that person. Therefore, it’s best to tailor your templates to different types of prospects, such as your neighbors, previous clients and current renters who may be looking to buy.
This article will offer tips on how to select and target specific populations, how to increase open rates and compel readers to action, and give you three real estate prospecting letter templates that work. Make sure that you’re also prepared to actively pursue any leads you obtain. Freshsales is a real estate CRM that can help you stay organized and follow up with leads in a timely fashion.
1. The Neighborhood Farming Real Estate Prospecting Letter Template
Dear [Insert Name],
I recently sold a home in your neighborhood at [insert address] and wanted you to know that there are more buyers than inventory. I currently have buyers looking while there are not enough homes on the market. People want to live in this area right now!
It’s never been a better time to sell in [name your area]. If you’ve been planning a move or just thinking of listing your home, it’s a hot market with homes selling quickly for top dollar.
May I give you a quick five-minute price assessment to see what you could get for your home? There’s no obligation to you — just a few minutes of your time so that I can make you aware of your opportunities.
Call my cellphone at [insert cellphone number] and we’ll set it up!
Best Regards,
*hand signature*
[Name]
[Brokerage]
[Address]
[Email/Phone]
[Social Media Handles]
2. The Renter Conversion Real Estate Prospecting Letter Template
Hello [Name],
Have you been wondering if you could own your own home in the neighborhood? Interest rates have never been lower but prices are going up fast, and you might have the opportunity to stay and build a life in the neighborhood you love, at a good price, if you get in quickly.
I just helped buyers get into the property at [name street & number]. Believe me, I know that taking the step to buying your first home can seem overwhelming, and there are often many questions. May I answer those at no charge to you?
Call or text me at [insert cellphone number] and we’ll set up a time to walk through the process and get you on your way to owning your first home!
Best Regards,
*hand signature*
[Name]
[Brokerage]
[Address]
[Email/Phone]
[Social Media Handles]
3. The Past Client Check-in Real Estate Prospecting Letter Template
For previous clients who you have an existing relationship with, an informal email or a phone call may be more appropriate. However, if you’re unable to reach them or if the client prefers a more formal business approach, then the following template is for them.
Hi [Insert Name],
I hope you have been enjoying your home. It’s been a busy year in [neighborhood name]! Since you purchased your home in [year], the market has really exploded. The average [# bedroom] home is selling for about [price]. Insane!
I just wanted to check in because there are more buyers than homes available right now. If you’ve been thinking of selling your home, I would love to work with you again. We got the job done together, and I would be happy to bring you some new buyers.
The sellers I’ve worked with are really surprised how much they can get right now.
May I drop by and give you a five-minute price consultation so you can see where you stand if you think about moving?
Hope you’re well and I’m looking forward to hearing from you again!
Best Regards,
*hand signature*
[Name]
[Brokerage]
[Address]
[Email/Phone]
[Social Media Handles]
4. The For Sale by Owner (FSBO) Prospecting Letter
Hello [Name],
I noticed that you have had your home for sale by owner for [number] weeks and was wondering if I could be of any assistance. I recently sold homes in the neighborhood at [addresses] and have active buyers looking in the area.
I understand that saving on the commission is probably very important to you. I bet you didn’t know that homes that sell with a real estate agent get a higher overall price than those that sold without one — often making up for the difference. I am hoping that we could work together, get the right price on your home and get your home sold.
Call or text me at [insert cellphone number]. We’ll set up time, and I’m happy to share my ideas and marketing strategy to get your home sold fast.
Best Regards,
*hand signature*
[Name]
[Brokerage]
[Address]
[Email/Phone]
[Social Media Handles]
5. The Expired Listing Prospecting Letter
Hello [Name],
As I was looking over what’s happening in our neighborhood, I noticed that your home is no longer for sale. I was really surprised that it went for [number] days without selling. There are buyers out there who would really appreciate what it has to offer.
I recently sold a home in the neighborhood at [address], so I thought you might still be interested in selling your home. I would love to come by, take a look at your home and give you a second opinion.
Call or text me at [insert cellphone number]. We’ll set up time, and I’m happy to share with you my marketing strategies that have worked to get other homes sold in the area and can get your home sold as well.
Best Regards,
*hand signature*
[Name]
[Brokerage]
[Address]
[Email/Phone]
[Social Media Handles]
6. The Holiday & Second Home Prospecting Letter
Hello [If you have a name insert but you may not],
I’m [name] with [brokerage], and I specialize in vacation homes, second homes and investment properties in [name of town]. It’s such a beautiful place that so many escape to, and I feel fortunate every day to live and work here. Have you ever thought about buying a property or seeing what’s on the market?
These homes can change the way you spend your seasons or holidays, and offer a lifestyle of fun, relaxation and convenience. I am happy to show you some currently on the market and also offer some pocket listings we keep only for private clients.
While you enjoy the [name some features] in [name of town], please know that there are professionals who make acquiring a home here a seamless and discrete process. We understand the unique needs of those who may only use their homes seasonally and have contacts who make that a turnkey process for you.
Call or text me at [insert cellphone number]. We’ll set up time, and I’m happy to share the beautiful properties we have to offer.
Best Regards,
*hand signature*
[Name]
[Brokerage]
[Address]
[Email/Phone]
[Social Media Handles]
7. The Corporate Relocation Assistance Prospecting Letter
Hello [Head of HR for targeted company],
I’m [name] with [brokerage], and I have helped so many individuals moving into the area for work find their perfect home. I would love to help [name of company] with its corporate relocation programs and talk with you more about your employee relocation needs.
[If you have an example from this company of an employee you’ve helped, use it here. For example, “I was so pleased to work with ____from the ____division find their perfect home in ___and I’d be so honored to help others as well.”]
I would love to talk with you more about how I can help you make your employee transition a more seamless process placed in good hands. Call me at [insert cellphone number] or email at [insert email address], and we’ll set up a time at your convenience.
Best Regards,
*hand signature*
[Name]
[Brokerage]
[Address]
[Email/Phone]
[Social Media Handles]
8. The Prospecting Letter Asking for Referrals
Hi [Insert Name of Recent Client],
I hope you and [spouse, children, family, pets] have been doing well! It was so wonderful to work with you all. It’s been such a busy year in [neighborhood name].
One of the ways I’ve been fortunate to work with so many fantastic people is because of referrals from former clients. It’s such an honor to be able to find the perfect home for some and help others move on to new locations.
If you have any friends, family or co-workers who are thinking about buying or selling in our area, I’d be so honored if you’d consider referring them to me.
Feel free to reach out via text or call on my cellphone at [insert cellphone number] or send an email to me at [email address], and I would be so pleased to follow up with them to offer the same level of service I offered to you.
Best Regards,
*hand signature*
[Name]
[Brokerage]
[Address]
[Email/Phone]
[Social Media Handles]
9. The Internet Lead Follow-up Prospecting Letter
Hi [Name of Person],
I was happy to see that you were recently interested in a property I had listed on [name website – Zillow, realtor.com, etc.], and wanted to be sure to follow up with you even though that property is [under contract or sold].
I have a number of homes on the market or that I know are coming on the market that you might be very interested in. I have a reputation for getting clients in early to see properties so that they have the best opportunity to get their offer in.
Let’s have a chat about what your needs are and how I can help you meet them. Call or text me at [insert cellphone number] or email at [insert email address] and I’m happy to help!
Best Regards,
*hand signature*
[Name]
[Brokerage]
[Address]
[Email/Phone]
[Social Media Handles]
10. Downsizing Prospecting Letter
Hello [Insert Name],
I’m [name] with [brokerage], and I’ve recently been working with many individuals in these lovely large homes make the transition to homes that better suit their current lifestyle.
Large homes sometimes certainly come with larger maintenance, utility bills, taxes and overall carrying costs — funds that many people decide are better used on travel, visiting family or enjoying life in other ways.
[If you have a client testimonial from this neighborhood you’ve helped, insert it here.]
Downsizing right keeps a solid eye on retaining the important elements that make your living experience wonderful. I’ve been so proud to help people through that process and transition into homes that allow them far more freedom to do the things they love.
If you’ve thought about downsizing now or in the near future, call me at [insert cellphone number], and I’d love to chat with you more about the process and what I can offer to help.
Best Regards,
*hand signature*
[Name]
[Brokerage]
[Address]
[Email/Phone]
[Social Media Handles]
Taking this approach to using real estate prospecting letter templates means more specificity, personalization and not simply distributing one mailing to every person in town. Select a group that is most likely to convert because of certain characteristics they already have, save on postage and increase conversion rates.
Be sure to follow up religiously. Have systems in place to remind you to continue the conversation and place a priority on groups that may have more urgent need like those in the FSBO category.
Track Your Prospects in Your CRM
Conversions don’t always happen from first contact so knowing who you contacted and when is incredibly useful in helping you to follow-up. Some types of prospects, such as those who are listing their home as a FSBO, are highly motivated to sell so adding their information to your CRM for further follow-up can be highly beneficial. Be sure to use a CRM like Freshsales that can send your follow-up reminders.
Find Real Estate Prospect Leads
Locating contact information for the specific groups you wish to target can be a painstaking task. One of the best ways to use your prospecting time is working on your leads, not trying to find basic lead information. Two ways to find leads for real estate prospecting letters are through web-based lead generation services and rental lists.
Web-based Lead Generation for Real Estate Prospecting
Use technology to find your populations and their contact information. Services like Landvoice can email you FSBO, expired listings and preforeclosure information daily and can be subscribed to on a monthly basis. For example, receiving expired listings starts at $60 per month.
There are a number of places to receive leads from the Internet that save time. While some people consider receiving leads online to be “cheating,” we think it’s just smart business to use the technology available to grow your income. We explored some of the best places online to buy real estate leads in 2018 and their effectiveness.
Renter Lists for Real Estate Prospecting
Renter lists are often an underutilized tool of agents. While personalizing letters to homeowners is a more traditional approach, personalized letters to renters can open up an entirely new segment for your marketing. Experian, for example, sells targeted mailing lists of renters in your area that you can often filter by elements like ZIP code, age and other variables.
Each of these groups can be targeted in a number of ways to keep your services top of mind when someone decides to list their home or purchase one in the area. For other ways to generate leads, see our top 47 real estate lead generation ideas from the pros.
Improve Your Real Estate Prospecting Letter Response Rate
Once individuals are opening your letters, how can you get them to act? While personalization is essential, you want to give them a specific reason to contact you. If crafting your own template, vague or general cues do not translate well in prospecting letter templates, prompt the reader to take a specific action that matches the population you are targeting.
Make one or more of these specific offers:
- Offer a free in-home, five-minute pricing consultation
- Offer to set up a free first-time homebuyer consulting appointment to teach them about the process
- Offer to set up a free appointment to examine important downsizing factors
You will increase your real estate prospecting letter template effectiveness by using personalization to open and increasing their response rate by using specific calls to action. The Digital Marketing Association found that, overall, direct mail gives a response rate of 4.4 percent compared to the .12 percent response rate of email even when not optimized. Being able to be specific in your call to action while keeping your target group large enough to still use templates can improve your letter response rate dramatically.
If you want to include a great flyer about your business to show clients more about why you are the best choice for the job, we reviewed the top 25 real estate flyers that you can use. Having a professional flyer to accompany your letter can showcase a bit more of your business to potential clients than letters alone often allow.
Get a 99 Percent Open Rate From Your Real Estate Prospecting Letter
While real estate prospecting letter templates are meant to save you time in content, they should not be something you run off in a copier. Address your letters to specific individuals, hand write the exterior address and use a traditional postage stamp instead of a postage printer. These tips can result in you getting a 99 percent open rate. People want to feel that they’re receiving something special and crafted just for them.
By hand addressing the exterior of the envelope, your open rate increases from 56 percent with traditional direct mail to 99.2 percent, according to Letter Friend. There is nothing less personal than seeing “To current resident” printed on the front of an envelope. By hand addressing the exterior of an envelope, you give a great customer service impression from the start.
If you can get high open rates, you want to optimize this advantage by also giving something for them to keep. Business cards, along with your real estate prospecting letter, can give future clients something to remember you buy and hold on to easily. While there are many providers on the market, Moo provides high-quality, customized, affordable business cards that make a great first impression.
Target Specific Groups
The best advertising has the right message targeted to the right people. While we’ve given you three real estate prospecting templates for three specific types of prospects, the variations of who you can target are almost endless.
The Bottom Line – Real Estate Prospecting Letters
Real estate prospecting letter templates can be as diverse as the population they target. When using a template, be sure to have areas that can be customized to lend a feel of authenticity, always use the person’s name and include business cards and flyers to give more information about your business along with something for them to refer to.
While you might have a wonderful real estate prospecting letter, it will only be as effective as the number of people who read it. To get your materials read and acted upon, be sure to hand address your envelope and have specific calls to action that align with the type of prospecting group the individual is a part of.
Placing yourself in front of the right audience at the right time is key to converting possible leads into clients. Along with prospecting letters, be sure to get yourself in front of actively looking audiences with Zillow’s Premier Agent to have your lead funnel continuing to bring business.
Waymon Meadows
Thanks so very much. Your letter have been great help to me.