Every marketplace has a good percentage of absentee owners. Real estate agents need to understand that these owners are good for many listings this year; especially ones who own single family homes. Make them your friends by providing great information in a way that they cannot ignore you.

Here's how.

Where do I find them?

The best absentee owners to go after are the ones who own and rent out single- family homes while living in another area. You can find them through a local title company or the tax records. This will show you where they get their tax bills and, of course, where to send your correspondence.

Take a picture

Every absentee owner wants to know what his property looks like. Take the time to go out with your digital camera and take a picture of his property. Now, here is the important part, embed the picture in your letter! They will not throw your name away. The first letter should offer a CMA on their property. If you would like a sample, just e-mail me and I'll send you one.

How often?

Make a point of being in touch quarterly. That's right, just four times a year. Another important point is that every letter you send should have the same picture in it for a year. Then next year, you take another picture and so on. This is very inexpensive, but will generate results as long as whatever you send has the picture in it.

What information?

The first letter should offer a CMA as I already mentioned. The next should be the actual CMA on the property. The third letter should be statistics on the sales in your marketplace and whether it is an appreciating or depreciating market. The fourth letter should be another one of general information on your marketplace. You can find lots of information that would be interesting to someone who owns property in your area, but isn't there often.

Call

Now that you have sent them a letter, give them a call. You don't have to talk long, but make sure they received your letter. The conversation can go something like this, “Mr. Smith, did you receive the picture of your property that I sent? Would you like a complimentary market analysis so that you know what your property is worth?” This will definitely get the conversation rolling.

Build rapport

You can make these absentee owners your clients by the consistency of giving them information on a quarterly basis and then following up each letter with a phone call. These people may have no clue as to the current value of their property. You may also be able to help them by exchanging their property for maybe a duplex or triplex or bigger. The point is, if you go out of your way to help them with information, they will trust you and that trust is what you need in order to create a sale.

Results

Absentee owners are easy to tap into if you give them information and get their attention by using a picture of their own property. The results are incredible! Agents tell me all the time how great this works because they keep the letter because of the photo. I agree. Try this, you'll love it!

Published: March 19, 2002

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