Today I was having a brief conversation about offer letters.
I figured you should also hear my perspective on the topic too…
So, to condense a brief conversation even further, here are the cliff notes.
First off To get a deal, I suggest sending a minimum of 1000 mailers per month.
When I say deal, I dont just mean someone accepting your offer, but a deal that passes your due diligence and you actually buy.
When your offers are really on point, you can get at least 1 deal with much less mail, but 1000 is a good starting point.
That also means that:
If you are sending more than 1000 offers to get 1 deal, DM me!
One other thing to mention, a lot of people give offers purely based on a strict percentage of market value.
For example, many just give an offer thats 30% of market value.
The thing you have to remember is that you need pricing flexibility.
Why?
Because the offer price more or less depends on the area.
Think about it, can you make the same % offer in an area that is highly competitive and hope to get deals consistently?
What about higher income areas vs lower income areas, should the percentage be the same?
What about areas that you are the only game in town?
As you can see, the answer is “no, you should not do one flat offer percentage for best results”
Understanding your market will let you know what your offer should be.
At the end of the day, your offer is just that, an offer.
The whole point of the mailer is to generate a conversation so you can negotiate the best price.
What price you end up with may not match what you stated in your original offer…
Anyway, that’s it for now, enjoy your labor day
-Coach Vic
P.S. The fb marketplace resource Im putting together will be done sometime this week