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Short Sale Leads
Written by Anita Knight
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Distressed homeowners need hand holding when they are about to lose their home. Most of them are going to be hard to reach and they need an experienced, professional realtor to help them realize that a short sale may be their best option to save their credit score.
We specialize in providing realtors with the names and addresses of people that are la te on their mortgage and are prospective clients for a short sale. 60 day late homeowners are ideal, as the homeowner is getting farther in debt and is starting to realize that they may not be able to catch up on their mortgage. At 30 days late most homeowners are confident that they are going to catch up and keep their home, and some of them do. At 90 days late the realtor may not have enough time to complete the short sale before the bank decides to proceed with the foreclosure.
When approaching a short sale, prospect realtors also need to stress that even if the client is in the process of a loan modification the odds are against them that the bank will approve it.
As a realtor you must be empathetic with the homeowners that need help with a short sale and gain their trust. One of the most common questions realtors ask about marketing for short sales is what to do, how to market, what works, etc. Not all realtors specialize in short sales, and through networking you can meet successful realtors and share marketing tips. In addition to knocking on doors, direct mail is still the most effective means of marketing. Only about 15% of the population is not on the Do Not Call list, so if you plan on telemarketing you are missing 85% of your prospective clients. The people that are not on the Do Not Call list most likely have caller ID, so you have to hope that they will answer their phones.
One of the most effective direct marketing campaigns I have seen was sent by a local realtor. She sent a simple note card with an empathetic, sympathetic hand written message and included her business card. She hand wrote the envelope so it looked like an invitation or thank you note. Most people will open something like this thinking it is a personal card. Letters and postcards are also effective, but keep in mind that short sale prospects want to know that you care about their situation and you are qualified to sell their home in a timely manner. Short sale prospects need to be aware of the clock ticking away and the urgency to list their home.
For other tips on marketing to short sale prospects please contact Anita Knight at Black Book Data, anita@blackbookdata.com or 888-818-3282, ext 108.
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