You could be causing upwards of 80% of your target market not to call you, because of what you might be saying through your advertising.  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

2008/2009 NAR Event Speakers and Panelists

Get your CDRS Certification TODAY!  www.CDRSCertified.com

 
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4 Comments on Short Sale Marketing Tip! Most Sellers don't want to sell... initially.

JUN
21
414,568 Points 2 Featured Posts Localism Sponsor Outside Blog

Thanks for sharing this valuable information about hard-earned knowledge. It's so wonderful to find that you are willing to share in order that others may prosper.

11:05am • #1
148,539 Points 6 Featured Posts Outside Blog

That's an interesting approach.

I would think that by the time most homeowners have contacted you, they've exhausted all of their other options to hold onto the home.

11:11am • #2

Thank, Vickie!

 

Ralph, one of the very interesting things we have found is this.  Regardless, of what the homeowner has done to determine what potential options may be available to them, usually as a result of first speaking to their bank, psychologically, they still would rather not lost their home, even if it is the most realistic option.  Now, there are certain areas around the country where homeowners very much know they're upside down, or that there is absolutely no way they can continue to stay in their home, even if their loan/interest rate is modified.  In many other areas, where the fallout of the local market conditions aren't so dire, or depressing, you'll have the tendency to find more homeowners who want to believe they can work something out to stay in their home, even if 50% of the household income has gone away through divorce, unemployment, death, etc.  I must say that if we sense through our conversation with a homeowner, that it makes sense for them to stay in their home, because of the availability of current government programs, etc., then we'll do what we can to push them to do their due diligence.  Without realistic options, distressed homeowners don't have real choices.  If we can help to turn over all the playing cards for them, meaning options, then we know that this will ultimately build trust and rapport, if and when they actually do need to sell.

11:43am • #3

Good points here Michael; I have been marketing directly for short sale listings for a while now and so far I haven't seen it cause me to lose someone not in distress.  But it makes sense that we need to listen to our clients more and more and let them lead themselves to whatever type of listing they are.

What's the old saying, "we have two ears and one mouth"?

Thanks again for sharing what you are seeing works and sometimes more importantly, what is not!

2:26pm • #4

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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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