During the first 4 years of building our business in Short Sales, and even to this day, we discovered a flaw in our conversational approach with prospective homeowners who were calling off our newspaper and commercial advertisements.  Here's what we found and we can almost guarantee that this tip will help you.  It was often that the very first question a homeowner would ask us, when calling off of an advertisement, was "Hi, I saw your ad.  Would you please tell me more about what you do?"  I found myself wanting to talk about everything under the sun that I did in my real estate business, especially talking about how our primary focus was to save homeowners from the devastation of foreclosure by helping them to sell their home through something called a Short Sale.  Amazingly, I has numerous people hang the phone up on me after I told them I could help in assisiting them to sell their home.  This is what was very interesting and as soon as we changed our approach, it drastically effected our business, in a very positive way.  What we found is that 8 out of 10 homeowners who called us off of an advertisement absolutely did not want to hear, at least for the first 15-20 minutes of the conversation, that we (our company) provided services in helping homeowners to sell their home if they were behind on their payments.  In a nutshell, this was simply an alternative they weren't ready to consider, yet.  No matter how far behind on payments a homeowner is, or how dire their situation is, most homeowners want to believe that they can still stay in their home, regardless.  I will tell you right now that if we sense that a homeowner can continue to stay in their home, and they just need a little help from their lender, either through a loan mod, or whatever their lender is offering, then we'll do everything to keep them in their home.  Unfortunately, we also know that many homeowners, regardless of how you slice it, will ultimately have to sell. 

So, if you are marketing for prospective short sale leads, and you mention anywhere on your advertisement that you help Sellers, who are potentially facing foreclosure, to sell their home, there is a very good chance you're causing upwards of 80% of your target audience not to even pick up the phone and call you, because they aren't ready to sell, yet!  When you get on the phone with a distressed Seller, listen carefully, seek to build the trust and rapport, and then, when you feel the moment is right in your conversation with them, talk about the possibility of them selling their home via a short sale.

Have a great one!

Michael Spickes

America's Home Rescue

Get your CDRS Certification TODAY!  www.CDRSCertified.com

 
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5 Comments on Interesting finding! Marketing Tip for Short Sale Leads

JUN
21
1 Featured Post

Very true statement. They always want to know how they can stay in their homes.

 

What's your thoughts on doing a short sale to a family friend or member with a different last name?

 

 

 

1:16am • #1
Localism Sponsor

This information is so timely.  I'm focusing more of my marketing to the Short Sale Client and you're insight has definitely influenced my future marketing and my understanding of the client.

3:21pm • #2

We're happy the information is useful.  We ran a tv commercial in our area back in 2003-2004, when Austin had one of the highest foreclosure rates in the nation, while most of the United States was still in a booming market.  The commercial produced tons of leads and TONS of calls, but to my surprise, I actually had many homeowners hang up the phone on me if I said I could help them sell their home... too soon in the conversation.  I honestly didn't know why some were hanging up on me and was completely perplexed, until a few homeowners, for whatever reason, said voluntarily that they responded best to me, because I didn't appear to be after just selling another house, like other people appeared to be.  The light bulbs turned on for me and converting listings increased drastically!

Michael Spickes

America's Home Rescue

Provider of the CDRS Certification Program

www.CDRSCertified.com

4:12pm • #3
1 Featured Post

You would think that's a no brainer. when I was marketing to people with NODs in my state, it wasn't "I want to sell your house", it was here are your options, let me look into your paticular situation and see how I can help.

 

4:23pm • #4

Some Realtors who are marketing primarily for short sale leads tend to focus their advertising toward thinking that people already know they need to sell, when in truth, they don't think they have to, yet.  Therefore, by saying "We assist homeowners in selling their home", if they're behind on payments, is often a presumptive error in their marketing approach.  Most homeowners will first have to like and trust you, before you open the conversation up to suggesting that they might consider selling their home.  Again, this isn't the case for all homeowners, but is for many.

4:50pm • #5

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Michael & Stacy Spickes

Austin, TX

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America's Home Rescue (2008 & 2009 NAR Speakers & Panelists)

Address: 3616 Far West Blvd., #117-354, Austin, TX, 78731

Office Phone: (512) 261-9200

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Short Sale Resources & Training for Real Estate Agents


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