Capturing the attention of potential vendors can be tricky, especially if this person has recently vacated the market. In this post, we’ll be showing you the ultimate formula for writing a withdrawal letter and explaining why they’re so important to your marketing strategy.
Writing targeted letters to withdrawn properties doesn’t need to be daunting, these are the main things you need to consider:
- Address the vendor using their name or house number. *
- Be sure to reference the potential reasons they might have withdrawn.
- Introduce yourself and talk about your agency’s success.
- Support this with social proof, such as a testimonial or case study.
- Always ensure you’re using your agency’s tone of voice and branding.
*: This can be done by uploading your CRM data into your prospecting software which should allow you to automatically attribute homeowner names to addresses, so long as they’re in your database.
How to write the perfect prospecting letter for withdrawals.
1. Make things personal
Every prospecting letter needs an eye-catching opener to draw the reader in and speaking to your reader directly is always going to do that, having shown to increase campaign effectiveness by three times. In each letter, try writing directly to the vendor addressing them by name or by using their address.
2. Remember to always stay sensitive
As you know, not all withdrawals occur because of simple reasons like difficulty finding a new home or achieving the right price. It’s important to recognise this case in the opening of your letter, so as not to offend any receivers.
Try writing something like this:
“There are a few reasons why you might have withdrawn from the market and maybe now isn’t the right time to sell due to personal circumstances.”
3. Consider some of the other reasons why the vendor may have withdrawn from the market.
List them down to use in your letter, so you can directly target every reader no matter what their reason was. You can note reasons within your letter like this:
“If you withdrew your home for any of the reasons below, I’m confident we can help you.
- Your property didn’t gain the interest levels you were expecting.
- You didn’t secure the offers you were looking for.
- Interest was high, but you couldn’t find a property to purchase yourself.”
4. Use your brand USPs to offer a solution to these reasons.
Using these reasons as a marker, think about what your agency can do to counteract the issues the vendor previously faced with real-life examples and experiences as your evidence.
Think about your brand USPs, how can you weave them in as solutions to real issues vendors face when selling a property. Are you a friendly business? Do you have any awards or special recognition for your performance? Are you a large multi-branch agency? All of these factors work together to help you stand out.
5. Still have space to write more?
You don’t want to overwhelm your prospective client but if there’s space to write more, it’s the perfect opportunity to include a testimonial - or highlight your 5-star rating on Google or TrustPilot!
6. Make sure your details are clear.
Round off your letter with a clear call to action - for example, contact us for your personal consultation or an honest valuation. Then, finish with your contact information so any interested homeowners can get in contact with ease.
7. Finish on a high.
After your letter has taken shape, it’s time to think of a great ending. Be sure to close with a firm statement that leaves no hesitation, like this: ‘I look forward to hearing from you’.
Targeting withdrawn properties in your area can be a great way to win instructions and grow business for your agency. But what if you could get someone to do it for you? While prospecting to withdrawals is valuable, it can be time-consuming and busy agents may not always have a free moment spare - that’s where automated prospecting software comes in.
With tools such as Spectre, you can automate the canvassing of withdrawals with handy triggers that start from 3 weeks post-withdrawal up to 24 months post-withdrawal.
But that’s not all… Avoid spending time staring at a blank screen by utilising Spectre’s AI Content Generator to write your letters in seconds. Simply, fill out your tone of voice, USPs and what you want each letter to say and watch them be written in front of you, just like magic.
If you’re intrigued to find out how Spectre can help streamline your prospecting, visit our webpage here or speak to our sales team to get a demo.
As we already know, the last two years have seen a major increase in withdrawals returning to the market so it’s vital that agents, like you, use this behaviour to their advantage. By targeting the withdrawn listings in your area with our letter formula, you could increase your rate of new business and make 2023 your best year yet!
