Blog / Prospecting

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Lucas Harwood from Highland Property in Miranda, NSW, introduced a price drive letter to his agency and in just eight months it became its most successful - and cost effective - marketing strategy. Mr Harwood and his colleague drop around 200 prospecting letters four mornings each week within their area of almost 4000 homes. This drop is followed up by a call that evening between 5pm and 7pm.

"We call them crab traps, like when you’re out fishing. You’ve put a letter out right before you go in to work and you pull them in at the end of the day. It is the most effective way to get all these appraisals. It’s probably the cheapest too," Mr Harwood said.

The letter explains that the pair will only be offering appraisals in the street for a few days and as it only takes 15 minutes, it won’t be an inconvenience to the resident. Once the appraisal is done, the prospect receives a property report.

The duo is currently approaching 900 contacts using this strategy and is aiming to make that 2000 by the end of the year. Around three sellers are generated for each agent every time they send out the report. “I want to turn that into about six or seven each time this report goes out,” Mr Harwood said.

“We’re really trying to make sure we get as many as we can. We’ve been more dominant in the last couple of years.”

Mr Harwood and his colleague populate their database with information collected from doorknocking if they can’t make phone contact, and when the area reports are ready to go out in the mail he sends an SMS that morning to let prospects know they should be expecting a report in the next couple of days. He calls again once he knows they have received the report.

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