
Show Summary
In this conversation, Mike Hambright and Justin Silverio discuss the current landscape of direct seller marketing in real estate. They explore the evolution of marketing strategies, the importance of targeting the right audience, and the necessity of omnipresence across various marketing channels. The discussion emphasizes the significance of follow-up strategies and the role of technology, particularly AI, in enhancing marketing efforts. Justin shares insights on how to effectively reach potential sellers and the importance of consistency in marketing efforts.
Professional Real Estate Investors – How we can help you:
Investor Fuel Mastermind:
Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you’re already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply
Investor Machine Marketing Partnership:
Are you looking for consistent, high quality lead generation? Investor Machine is America’s #1 lead generation service professional investors. Investor Machine provides true ‘white glove’ support to help you build the perfect marketing plan, then we’ll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com
Coaching with Mike Hambright:
Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike
Attend a Vacation/Mastermind Retreat with Mike Hambright:
Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike’s East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat
Property Insurance:
Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there’s no 15-30% agent mark up through this platform! Register here: https://myinvestorinsurance.com/
New Real Estate Investors – How we can work together:
Investor Fuel Club (Coaching and Deal Partner Community):
Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you’ll get trained by some of the best real estate investors in America, and partner with them on deals! You don’t need $ for deals…we’ll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club
———————–
🎧 Subscribe to the Podcast
Apple → https://podcasts.apple.com/us/podcast/investor-fuel-real-estate-investing-show/id943707421
https://open.spotify.com/show/0yjlEMMn52BRrrlhfxCn4S?si=48f4b577276246e6
YouTube →
https://www.youtube.com/@investorfuel
🤝 Stay Connected with Mike
Follow on Facebook → https://www.facebook.com/realmikehambright
Follow on Instagram → https://www.instagram.com/realmikehambright/
Follow on Linkedin →
https://www.linkedin.com/in/mikehambright
📈Free Training and Resources for Professional Real Estate Investors
Acquisitions Manager Hiring Guide → https://my.investorfuel.com/if-lm-optin-acquisitions-guide
COO Hiring Guide → https://my.investorfuel.com/mm-lm-coo-hiring-guide
Executive Assistant Hiring Guide → https://my.investorfuel.com/mm-lm-ea-hiring-guide
Fuel 5 → https://my.investorfuel.com/mm-lm-fuel5
Triple Your Profits Masterclass → https://go.investorfuel.com/triple-your-profits
🏠Free Training and Resources for New Real Estate Investors
Rehab Live → https://my.investorfuel.com/rehab
Find Your First Deal in 5 Days challenge → https://go.investorfuel.com/find-your-first-deal-5-day-challenge
Join My next 4 Day Live Training Event (Virtual)
https://investorlaunchpad.com/
Resources and Links from this show:
Listen to the Audio Version of this Episode
Investor Fuel Show Transcript:
Mike Hambright (00:00.302)
Hey everybody, welcome back to the show. Today I’m here with Justin Silverio. We’re gonna be talking about what’s working now in direct to seller marketing. The tech keeps getting better, the data keeps getting better, or you can still buy shitty data, but the opportunity to get better and better data and get more targeted is better than it’s ever been before. So we’re gonna talk about what’s working now. Justin, good to see you buddy.
Justin Silverio (00:12.366)
You
Justin Silverio (00:21.206)
Yeah, you too, Mike. Thank you so much for having me on. I appreciate it.
Mike Hambright (00:23.28)
Yeah, yeah. So we both help other people with marketing. And so I always love talking to my fellow marketing nerds, if you will, I guess. And so I’m sure this is going to be a good conversation. Yeah, yeah. So before we jump into what’s kind of working now, and we’ve got some great conversations, by the way, you guys were talking about kind of omnipresence and using multiple marketing channels and making sure that people are kind of seeing you everywhere as much as possible. Before we jump into that, tell us a little bit about your background.
Justin Silverio (00:32.334)
Yeah, I’m looking forward to it. I really am.
Justin Silverio (00:51.256)
Sure. Yeah. So I started as a real estate investor back in 2011. Prior to that, I was an accountant at a venture capital and private equity companies. I always loved the industry and knew I wanted to become an entrepreneur, but just didn’t know how. And then I found real estate investing and my father was a contractor for about 30 years. So was like, Hey, let’s team up and buy our first property and renovate it. And he’s like, all right, let’s try it. So we did our first one. We made 17 grand. I was
pumped. He was like, OK, we need to make more money than that. So we just started to do that over and over again. I got much more better at finding properties off market. That was kind of always my thing. So we did that for a number of years. And then in 2016, I had a blog following that was asking me, how are you finding all of these deals? Because we were blowing away the competition competition. And so I told them direct mail.
And then in 2016, I launched Open Letter Marketing. So that is a direct mail provider that really helps people strategize and execute direct mail campaigns. And then again, in 2022, I saw another void in the market, which was technology. So I started another company called Invelo that really spans the whole life cycle of an investor’s sales process to help them from pulling lists all the way to closing deals in marketing and automation.
and whatnot.
Mike Hambright (02:19.95)
Yeah, yeah, awesome.
Yeah, it’s interesting because I talk about this fairly often is when I came into the industry in 2008, there were no CRMs, there was no software, there was literally nothing for the real estate investing industry tech wise. And I got into real estate and I left a tech company. So it was like, this is like, you know, a wild west for sure, right? And it’s amazing that the maturity that’s kind of happened with tools and of course, with AI and stuff going on, it’s like
Justin Silverio (02:25.324)
Ahem.
Mike Hambright (02:52.114)
a whole new world that’s happening. It’s gonna be kind of crazy. Maybe at the end we’ll talk about the future and how you see AI playing into the industry and stuff like that. But yeah, so let’s talk a little bit about one of the things that I know that, again, we have Investor Machine, you have Invelo, there’s things that we’re both doing that are similar in the sense that we’re trying to narrow down and predict who’s most likely to sell using data versus the shotgun approach of everybody
Justin Silverio (03:19.874)
Right.
Mike Hambright (03:22.034)
that can fog a mirror or everybody that has age inequity and that’s it or whatever. So let’s just talk about that kind of more, I guess the more rifle approach, the more laser approach to marketing versus the old school way which is throw spaghetti at the wall.
Justin Silverio (03:37.775)
Yeah. And believe it or not, we’ve still find that a lot of people do that and they might not be doing it in such large ways, but they might be doing that for like a particular list. So they might just pull an absentee list and then start marketing to it. And I like to think about prospects as there no two are created equal, right? You can have many prospects that are much higher quality or more motivated than other prospects. And what we’ve found, especially like
I think investors started to hone in on this. The ones that have been around for a long time around covid. That is the first time that I started to see that people not necessarily pulled back, but refined who they were marketing to much more than they ever did in the past, which I’ve always been a big advocate of. So when I look at this, I always say, OK, well, if you’re going to get into direct to seller marketing, let’s start with like how large of an audience that you should be going after.
Mike Hambright (04:36.346)
Hmm.
Justin Silverio (04:36.588)
So from there I can tackle and we can identify like how many records you should be pulling and how many leads and deals you should be getting per month.
Mike Hambright (04:45.924)
Yeah, and as somebody that has a mail house, I’m sure you, there’s always people over the years that are like, I hand wrote like 50 postcards and I didn’t get any responses. And when you hear that, you’re like, why would you? It’s like 50, right? And so I think, and I think people have kind of come around to it, but especially for newer folks like.
Justin Silverio (04:59.68)
Right.
Mike Hambright (05:06.71)
It’s probably shocking how many people, how wide that net needs to be to try to generate leads, right? So how do you kind of figure out, I mean, we could talk about direct mail, but there’s also texting and cold calling. There’s a lot of ways to get ahold of people. But how big does your net need to be to really start to see some actual activity?
Justin Silverio (05:12.45)
Yes. Yeah.
Justin Silverio (05:19.021)
Yeah, yeah, yeah.
Justin Silverio (05:28.034)
Yeah. And I like to think about this, not just from a direct mail perspective, but just marketing in general. So we’ll start with just marketing in general. So when somebody is getting into direct to seller marketing and they’re like, okay, I want to, I want to get this started. I generally tell them they want to look at a population size of about 125,000 to about 200,000 in population. From there, they should be able to pull a number of different lists. So I always recommend if they’re going to do it themselves, right? But there’s other platforms and services.
Mike Hambright (05:33.54)
Yeah.
Justin Silverio (05:57.497)
that can help you pull lists and gather lists from predictive stuff all the way to, you you can go into a different list provider and pull the lists yourselves. But if you’re doing it yourself and you wanna get kickstarted, I always recommend that you pull a bunch of different lists. So absentee, equity, related party, trust list, right, tax liens, driving for dollars, like getting all those niche lists. So pull a bunch of those lists and bring them all together and then identify, you know,
the number of records that you should have. So when you do that, when you start with a population of 125 to 200,000 in population, you should probably get a list that’s about 10 to 13,000 records. You’re not gonna market to all of those people, okay, especially if you’re starting out. But the goal is to pull all those lists in and then to layer and identify which ones have more motivating factors than others, okay? And generally what we find is that the top 2,500,
to 3000 records is usually where you want to go to and start spending your energy on them. And if you’re starting out and you want to start mailing yourself and writing letters or whatever it is that you want to do, you can start there. But at least you’ve honed in to the top 25 to 3000 people instead of just guessing from all the 13,000 that you had originally. So that’s kind of like the goal always is to like hone in. And just to to step back, I always
When I look at high quality versus not as high quality records, I generally want to spend more time or more money on the higher quality, less time and less money on the lower quality. And to give you an example, I might send direct mail to those top 2,500, but I might do cold calling or use a cold caller or if somebody wants to do text messaging to all 13,000.
That’s one approach that you could do is where you’re doing the cold calling. You’re going to get through those a lot more, but do it to your whole list, but really hone in on direct mail with the top prospects.
Mike Hambright (08:05.84)
Yep, yep, yeah, or you could change the frequency too, right? So one of the things we do like with a virtual machine is we have kind of an A list. It’s like almost like an 80, 20 split of like the highest quality, 20 % if you will. We might mail every 30 days versus every 60 or 90 days or something. I mean, it depends on your budget. It depends on your goals, but the hotter the leads, the more frequently and the more ways you should probably be trying to touch them, Yeah, yeah, yeah.
Justin Silverio (08:09.998)
Of course. Yes.
Justin Silverio (08:17.4)
Yes.
Justin Silverio (08:29.774)
100%. Absolutely. Yep. Yep.
Mike Hambright (08:32.206)
So what do you, we haven’t talked about this offline, but one of the things, we, you know, for us, Investor Machine is very much a data company. We’ve got like 60 people in our data department, data scientists, all sorts of stuff. What’s been interesting is we find, you know, we used to think like, hey, a probate is the most valuable lead like anywhere. And then we found out that that’s actually not the case. And there’s certain data points in certain markets that are very different in different markets, which is kind of wild. So we used to treat everything the same way nationwide. And now we look at it differently.
county by county because like, you I guess, you know, to put it another way, like you give an example, like probates aren’t as valuable in Florida maybe because like there’s a ton of old people that are like, a lot of people are dying, but it doesn’t mean that they have a house for, I mean, there’s a lot of, you know, there’s a lot of things that might not apply in some markets over the other. So how do you kind of do, you know, what are your, what’s your philosophy? Do you treat different markets differently? Is it?
Like how do people kind of learn from what’s working in their market?
Justin Silverio (09:35.809)
Yeah, as far as that, I mean, we don’t have as depth of a data and understanding from the data perspective as you do with a lot of people on the data side. For us, we generally will pull, if we pull any list for people within Open Letter, we’ll pull a combination and talk to the investor themselves. So if they’ve done any type of direct to seller marketing in the past and they understand what’s working and what isn’t, we’ll kind of play off of that. But otherwise, if they don’t, will still, we will start with those general lists.
until they start to do some marketing and then we’ll hone in and talk to them about, you got this deal, which list were they on? So we can hone in on that because sometimes, you you can get down to the location based and you can say, okay, this worked well for somebody else, but then it’s also strategy based. So if you have two investors and one investor is only doing wholesaling, but then somebody else is doing wholesaling, rehabbing, they have a real estate agency.
Mike Hambright (10:13.477)
Yeah.
Justin Silverio (10:32.472)
they might be able to actually curate more deals through different motivations or reasons that they got on the list. So we do it from a perspective of like, okay, let’s look at the real data of like who’s calling back and where you’re getting your deals and then let’s dig into those a little bit more.
Mike Hambright (10:38.958)
Yeah. Yep.
Mike Hambright (10:49.614)
Yeah, that’s great. Yeah. It’s interesting too, because for somebody that we put a lot of effort into trying to predict who’s going to sell, there’s still a lot of people that sell. I mean, if I think back about, you know, I’ve flipped hundreds of houses here in the Dallas market, and there’s a lot of houses that we bought from somebody that, you know, they were, they had a lot of equity and they were older, but they didn’t have…
mowing leans, they didn’t have, they might’ve had a probate, but it was like the spouse died 10 years ago, so it’s off the radar. But you just never know, like I think of some of the people in even my family, my grandparents and stuff like that, at some point they just got really sick and they passed away, but there was no public records that would’ve indicated that. wasn’t, I mean, until the death happened, right? But it wasn’t like, I mean, we’ve bought a house, so to give you an example, like we might’ve bought a house from somebody’s elderly mother, and they’ve decided she’s fallen down a couple times,
Justin Silverio (11:17.742)
Mm-hmm.
Justin Silverio (11:30.518)
Right? Yeah.
Mike Hambright (11:42.294)
decided to put her into assisted living or move in with them or something like that. But there’s no mowing liens, there’s no IRS liens, there’s no tax liens, there’s no late payments, there’s no issues in the data. Right? And so when folks are using guys like us or you to find those, don’t forget that there’s a bunch of people out there that the data just can’t probably predict that they’re going to sell at some point.
Justin Silverio (11:54.914)
Mm-hmm.
Justin Silverio (12:08.142)
I like that you brought that up. That’s a really good point because I’m thinking back to one of the deals that I did and and why you should still, you know, market to your full list or as much as you can based on budget because I came across a property that, you know, the person lived there for a long period of time. She had some equity. You drive by the house. It looks fine. And she calls me. And once you walk into the house, I mean, there was trash above my going above my waist. Like the house was just an absolute mess inside.
And she was like desperate to sell the house because she needed to move out of there because she was in and out of the hospital from illness because there was so much mold around the house. So otherwise from the data or even driving by the house, it looks completely fine. But she I think she might have just been on for long term ownership. So, yeah.
Mike Hambright (12:46.919)
wow.
Mike Hambright (12:56.676)
Yeah, yeah. That’s one of the general challenges with the driving for dollars kind of model. Not to knock, you we’ve got friends that have apps in those spaces, not to knock anybody on that. But the visual side is one thing, right? But you might see a house that looks totally distressed on the outside and you would say, that’s a good lead, but.
They could just be a hoarder that has no financial problems. And then the house right next door, somebody could have passed away last week, but the house looks tidy and you never would have even put that on the list, right? So it’s just one more data point, if you will, but you don’t know the whole story for sure. Yeah.
Justin Silverio (13:21.155)
Mm-hmm.
Justin Silverio (13:32.726)
Absolutely. Yep, absolutely. Yeah, and that’s why matching up the different motivating factors with driving for dollars or if they also have a tax lien or something like that, that increases the likelihood that there is some sort of distress rather than just, yes, absolutely.
Mike Hambright (13:47.532)
it starts to the whole, more of the story, right? Yep, yep. So let’s talk a little bit about, I wanna talk about kinda this omnipresence. We’re kinda hinting at it right now of how you can’t just use one channel per se. I know, for example, I always, mean, just like you, we run a mail company, but I never check my own personal mail.
Justin Silverio (13:56.323)
Yep.
Mike Hambright (14:06.776)
Like my wife handles it, most stuff goes in the trash. Like that wouldn’t apply to me. I don’t watch, I mean, I watch TV, but it’s mostly streaming networks and stuff. like a TV ad, I would never see it. I haven’t watched network TV and like ever. Text, I see every text I get, right? But I get pissed if it’s spam, by the way. But anyway, I don’t answer the phone if I don’t recognize the number. So everybody’s different though. Like, you know, I know my grandma answers every call she gets because it might be a doctor or something.
Justin Silverio (14:22.818)
Yeah, yeah.
I’m the same, yeah.
Mike Hambright (14:36.72)
Like they never know who it’s gonna be. And it’s like, well, most of it is junk, but you know, they answer every call where I do the opposite, right? And so everybody, I think sometimes the real estate investors are guilty of like trying to market to the way that they would wanna be marketed to, but they’re probably not their avatar. Yeah, so let’s talk about kinda the importance of different channels and then obviously the importance of them, many of them, kinda be layers in an overall campaign.
Justin Silverio (14:50.648)
Mm-hmm.
100%. Yeah.
Justin Silverio (15:03.052)
Yeah, okay. So even talking about direct mail, right, which we’ve been talking about already, even the different types of products or the mail pieces that you’re sending will curate different responses. So just to give you an idea, like for me, I probably wouldn’t look at a postcard or anything like that. But if I received what looks like a handwritten envelope and invitation style envelope, I’d likely, even if I suspected
Mike Hambright (15:30.895)
Yeah.
Justin Silverio (15:30.988)
that it was kind of something that it was like solicitation, I’d probably still open it just to make sure that it wasn’t. So are there are forms? Yeah, I know.
Mike Hambright (15:37.838)
Yeah. And then you’re like, damn it, they got me. You thought it was like an invite to a party and it’s like them trying to sell you insurance.
Justin Silverio (15:44.919)
Yes. And I can and I always laugh and appreciate what they did to just get me to open it. But but we start thinking about that and building like a full direct mail campaign is like, OK, not just like we’re going to send them direct mail, but what types of touch points and mail pieces that we’re going to send them to curate different responses from different people. So older people might respond better to handwritten letters, more professional people, maybe, you know, number 10 envelopes with types.
So we vary that up. the variation within direct mail is important. And then going on to that, we talked about combining the direct mail or just different forms with different channels. And that is actually really powerful. We’ve a significant increase in response rate when you combine both of them. So if you’re sending a mail piece and then following up with a cold call, you can refer to that mail piece and say, hey, I just sent you something in the letter.
I just sent you a letter in the mail about your property. I just want to make sure you receive that. Right. So if you’re leaving a voice message or you’re talking to the person that curates, you know, specificity. So they almost think that you’re specifically reaching out to them. It’s not a solicitation. You’re going directly to them. And you can also do that as a follow up with a text message, you know, depending on people’s comfort of texting. Like you said, I do the same thing.
If there’s like a one on my text app, can’t have that notification. I have to close it out so I always look at my texts. But you can follow up a direct mail piece or combine text and direct mail to make sure that you’re talking about the other form of marketing that you’re doing because that generates and that will really spike up your response rates. So those are the types of things that I like to do to combine them in addition to what we already mentioned where
you’re going after a larger list, maybe do something a little bit cheaper or less time and energy with like cold calling or just hire a cold caller to reach out to those large ones while you’re spending more time and money on the more quality ones.
Mike Hambright (17:51.93)
Yeah. Yep. And especially on inbound marketing, like, you know, pay-per-click, SEO, things like that, combined with direct mail, like it’s a powerful kind of one-two punch. let’s be honest, like anybody, there’s nothing that I do that’s high dollar, like, you know, I’m researching a car or buying a house or whatever. Like I go.
Justin Silverio (17:58.063)
Mm-hmm.
Mike Hambright (18:14.37)
online to research that company or that person or whatever. So even if you don’t put it on your direct mail, people still go Google you and say, let me find out about these like Dallas home buyers or whoever, right? They’re going to go look for you.
Justin Silverio (18:27.362)
Mm-hmm.
Mike Hambright (18:27.448)
And so two things there, one, if you’re not advertising, they’re less likely to find you, and so you probably just sent a lead to your competitor or competitors. But the other thing is, is if they go to your website, the direct mail drove them to your website, and now you can retarget them and you’re following them around on Facebook and everywhere else. You just look more professional because you’re like, man, these guys are everywhere. They’re the real deal, right? People just, it’s not, most people are not.
Justin Silverio (18:45.325)
Mm-hmm.
Mike Hambright (18:50.584)
pissed that they’re seeing you everywhere. They don’t really understand the tech behind it necessarily, but they’re like, wow, they must be legit. They’re like everywhere. Like this is a big company and it might just be you in a bedroom. But, but all those things kind of work together, right? So they like mail drove people online and then you started following around with ads and next thing you know, you’re meeting with them to make an offer.
Justin Silverio (19:02.1)
You
Justin Silverio (19:12.576)
Yeah. And it’s just like anything, right? The more times that they see you, the more trust and rapport that you’re to build because you look like a legitimate company. And that’s really the name of the game. And that is a great aspect that you mentioned is making sure that you have an online presence. That is really important. Nowadays, everyone’s basically Googling to see who you are and see the reviews or anything like that. So that is definitely important.
Mike Hambright (19:18.426)
Yeah. Yeah.
Mike Hambright (19:37.552)
Yep, yep. So let’s talk about maybe some best practices on, we just talked about retargeting, but the best kind of retargeting you could do is being great at follow-up. You generated a lead, I like to say where there’s smoke, there’s fire. So you gotta make sure you’re talking to people essentially forever until they tell you to stop or until you buy the house, guess, or until they sell it, I guess.
Justin Silverio (19:51.587)
Yeah.
Justin Silverio (19:57.039)
Exactly. That’s exactly right. that’s, you know, when people go through and if they use this strategy that I just mentioned, you spend it, you spend some time and effort and energy. And even if you pay for a list of data, you’re spending a lot of money on that data. So the first rule in any type of marketing is you need to be consistent. I think that rule outweighs any other rule in marketing is just be consistent and constantly market to those people until, like you said, they either sell or tell you to
you know, not market to them anymore because that is, that’s the number one key to success. I always say you can send really bad marketing, but if you do it consistently, you’ll get more deals than if you send good marketing inconsistently.
Mike Hambright (20:38.094)
Yeah, that’s probably true, yeah.
So let’s talk about like best practices for follow up. mean, sometimes that’s texting and calling, sometimes it’s email, sometimes it really probably should be all those things. It could even be additional direct mail follow up, right? We found like our very best follow up list to follow up with our leads you’ve already generated. When a lot of real estate investors, by the way, they think I already generated the lead, I don’t need to mail to them anymore. But it’s like, well, those are the best leads, why wouldn’t you mail to them? So let’s just talk about what best practices for follow up looks like.
Justin Silverio (20:51.598)
Yeah.
Justin Silverio (21:02.612)
it’s… yeah.
Yeah, so follow up on leads is critical. mean, you and I both know that probably 80 % or more of the leads that you get in, you’re actually closing the deal on the follow up, not when you originally talked to them. And that’s always the biggest challenge when you start out is because you don’t really have a good lead follow up process, but it’s absolutely critical. So some of the aspects on the lead follow up, it’s much easier now because if you’ve talked to them and have their consent of like being able to talk to them again,
you know, text messaging isn’t going to be as bad as it was when you haven’t got their consent that you can text them. So making sure that you have a good cadence and follow up is critical. And even if it’s just to reach out to say, Hey, has anything changed? And the way that I like to do that is when I ask people and they’re like, Hey, you know, now is not a good time. Maybe I’m looking to sell in six months. I generally, my way of follow up is I always cut that in a half or a third, and then I start following up.
because circumstances can change much earlier than they think. So if they said follow me in six months, I might start following up with them in about like a month and a half, two months and say, hey, just wanted to check in, see if anything, you know, changed, if not happy to chat with you, you know, later on just to get that touch point and get right in front of them. Direct mail is a good form as well for some follow ups. I don’t think you need to be
as driven on direct mail because I always like to look at it as I follow the communication style that I have with the person. So if I was sending them direct mail, that seems like a little bit more informal than a calling somebody. Once they I’ve had a communication and talk to them. Now I feel like my communication style should be on the phone mostly because it’s much more personal. So I try to do that more often either through texting or calling.
Justin Silverio (23:01.71)
And then add layering and direct mail if I still can’t get through to them on the phone or by text. And email is another great form because now if you have the email, they know who you are, you can send a message to them, so that’s another form. the importance of just keeping front of mind is absolutely critical.
Mike Hambright (23:07.93)
Yep. Yep.
Mike Hambright (23:21.348)
Yeah, and I think that that approach, you know, needs to be more of like trying to become that trusted advisor to people, right? And not necessarily following up and saying.
Justin Silverio (23:32.322)
Mm-hmm.
Mike Hambright (23:36.336)
Do you still have that house for sale? Do you still have that house for sale? It’s more of like, hey, I was in the neighborhood and just thought of you, thought I’d check in. I mean, don’t say like I’m peeking in your window right now or anything like that, creepy, right? But it’s more of just like happy Thanksgiving, I’m thankful for our relationship and looking forward to the opportunity to help you when the time’s right. Just like little things that feel like it’s personal.
Justin Silverio (23:46.51)
Mm-hmm.
Justin Silverio (23:50.382)
.
Justin Silverio (23:59.759)
Of course.
Mike Hambright (24:00.846)
You know, the trick for us always is, as real estate investors and folks that run companies to serve real estate investors is, how do you make things feel personalized when you’re trying to do it at mass? Like any thoughts on that?
Justin Silverio (24:10.35)
Mm hmm. Right. I mean, as far as that, it’s hard to do if you don’t have a good system and way to automate that, because if you’re dealing with, I mean, if you’re dealing with 100 leads, it’s going to be much easier to do that. Right. You’re going to generally remember the conversations that you had, be a little bit more specific to it when you’re going in mass. It’s going to be a little bit more challenging. But you can still do that, because I think that if you have generally.
you know, there’s might be four or five different scenarios of somebody’s like, hey, I’m not looking to sell or I want to sell, but at a high price or your offer is too low, right? You can put them in these different buckets, but still have commonalities between the communication that you have with them. So the thing that’s really easy to do is like, if you’re going to consistently follow up with them by phone, the other thing that you can tag on the backend is just a text message. And you can have text message templates or even do one
manually right after that. But I usually like to piggyback two forms of follow up after each other when I’m doing something manual, because the manual is going to have a personal conversation. But if not, I can text them, look at the last conversation and let them know. And again, when you’re in scale, you still have, you likely have acquisitions teams. So they can be as, you know, they’re going to have a little bit more time to be able to call back. So that’s generally how I like to do it is those four or five different scenarios.
create some automation flows to them, but then when you have that personal, you know, talk with them, send them a personal message every now and then. It doesn’t have to be all the time, but because they get that personal note from you once, the other couple times that you automate, it won’t seem as automated.
Mike Hambright (25:52.472)
Right, yeah, that’s great. What are your thoughts on where tech is going, kind of the future with AI and tech in our industry for real estate investors in terms of like, in terms of marketing, Legion, relationship building, all these things, like there’s this looming AI over the top of everybody and people think it’s just gonna do my job for me. I mean, it’s more of a tool, right? There’s gonna be some things that people could probably eliminate from doing, but where do you see it going?
Justin Silverio (26:19.03)
Yeah, I think in the real estate investment industry anyways, I think we’re a little bit behind in tech in other industries. So I think we have a little bit of catching up to do. As far as AI, like you mentioned, there needs to be some strong education behind it because I think a lot of people are relying on it a little bit too heavily and taking it for what it is. But I do see a huge, very important place in our industry.
And I think that’s gonna come into play not only with any CRM or software platform that you work with, but it’s gonna just be more in day-to-day tools. So I think it’s gonna make the automation and like you were talking about, the follow-ups so much more specific. Everything’s gonna have much more specificity to that specific lead that you’re talking to. And it’s gonna sound really personalized. So I think it’s from a…
from a lead generation standpoint, things are gonna get, it’s gonna seem like somebody’s talking to you directly. And with everything else, I think it’s gonna get a little bit more, it’s gonna get much more sophisticated and where people are not gonna be able to tell the difference between marketing and somebody literally following up with you.
Mike Hambright (27:32.56)
Yeah, yeah, it’s an interesting time for sure. And it’s hard to imagine, know, 2025 is going to be interesting for sure, but it’s hard to imagine five years from now even, you know.
Justin Silverio (27:44.119)
The rate at which it’s changing is incredible. mean, you even get these AI prompts of when somebody you call in, AI is answering the phone and talking to you and it’s pretty wild.
Mike Hambright (27:56.719)
Yeah.
Yeah, that will all be widely used probably by the end of this year, even like literally. I mean, there’s some programs out there now that are voice agents. So it’s hard to imagine. mean, obviously there’s robots coming. She’s not really joking, but know, Elon’s creating these robots, right, that are not that expensive. And my wife is like, these are our future ranch hands for the ranch. Like, can we get some of these guys to like go cut down weeds and mow and stuff like that? was like, I don’t probably.
Justin Silverio (28:16.12)
Yeah, right.
Justin Silverio (28:27.276)
Yeah, it’s wild. That’s amazing.
Mike Hambright (28:27.494)
when the time comes. Hey, if folks want to connect with you, reach out and learn more about you in any way, where can they go?
Justin Silverio (28:36.364)
Yeah, I mean, they can go to either open letter marketing dot com or in velo app dot com or they can just shoot me an email. I mean, I’m pretty pretty open. So if they want to email me, Justin at open letter marketing dot com, you’re welcome to shoot me an email. Ask me any questions. I’m pretty much an open book.
Mike Hambright (28:53.732)
Great to see you. Thanks for being on the show today.
Justin Silverio (28:56.386)
Thanks so much Mike, I appreciate it.
Mike Hambright (28:57.892)
Yeah, guys tech’s moving fast, so make sure you’re staying on the cutting edge of it or you’re aligning yourself with people that are because you don’t want to get left in the dust. So, appreciate you joining us on today’s show. See you next time.
Justin Silverio (29:08.911)
Thank you.