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Foreclosure letter marketing

By Adam Zagel

Real Estate Agent with John L Scott Real Estate 200405254

January 02, 2010 09:32 AM

Se I began this blog I say Happy New Year to everone.

My question is two fold.

First would anyone like to share a sample of a letter that they send to people that have entered foreclosure proceedings try to get a listing from them?

Second if you have tried this line of marketing how successfull have you been and what have you done correcly and not done correctly?

Any input is greatly appriciated as I have a letter that I have created that I think works but I am also not the best writer.

Below is the letter.

Dear Sir or Madam,

I understand that you are going through a difficult time right now making mortgage payments. Getting a notice that your home has slipped into foreclosure is a very stressful situation. You have worked hard to realize the American dream of home ownership and may be scared that the dream may turn into a night mare. Fortunately in many situations, there is way to preserve your credit and possible equity you have earned on your home. I am a professional broker who can offer you valuable real estate advice to help you make the most of this difficult time.

As you may already know, having foreclosure on your credit history can cause a lot of problems not only now, but well into the future. In this market it may even be possible if you qualify to do a short sale on your home. Short sale is a way to avoid foreclosure but it is not a get out of my mortgage free card. I can explain how a short sale may work for you if you contact me quickly.

Prolonging any action can result in continued foreclosure proceedings and in the end losing any equity that you have worked hard to gain. You will probably receive numerous letters and flyers saying that they can help you with this situation. I only warn you because some of them will try and take your home and not give you any equity in return.

I am an experience agent living in Clackamas County and am very familiar with each area market. If you'd like to contact me immediately please call my cell phone at

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Larry Bergstrom

Crescent Realty, Inc. Spanaway, WA. - Spanaway, WA

CNE, CRS, GRI

I like the idea Adam. However, be sure that the letter goes to someone who is in foreclosure. If they're not, they can get real nasty.

Jan 02, 2010 10:02 AM

Adam Zagel

John L Scott Real Estate - Oregon City, OR

Brad,

The list I use is home that have had a recorded Notice of Default which is the first process of foreclosure here in the STate of Oregon.

Thanks.

Jan 02, 2010 10:08 AM

Evelyn Johnston

Friends & Neighbors Real Estate - Elkhart, IN

The People You Know, Like and Trust!

Sometimes people get nasty even if they are in foreclosure. They are not sure how you knew about them!

Jan 02, 2010 02:10 PM

Bill Somerset

Re/Max Realty Group - Dover, NH

ABR, e-PRO - Realtor - NH Real Estate Agent

I like the idea. It's kind of a hard subject to approach. I think any assistance you can offer someone is great!

Jan 04, 2010 02:17 AM

Chris Oliver

Century 21, Preferred Properties - Reynolds Plantation, GA

I don't know how you can do a short sale and still get equity for the homeowner?? None of the banks I have dealt with would even consider it and isn't this a really short time frame? I know that many times a bank will agree to work on a short sale and then take the home in foreclosure as negotiations are ongoing.

Jan 04, 2010 05:02 AM

Heather the Realtor Orlando, Lake Mary

LemonTree Realty - Orlando, FL

First Time Home Buyers, Bank Owned Homes

The thing you have to remember is those people most likely are dodging phone calls and mail that they dont know who it's from. Try being sympathetic and face to face with them.

Jan 04, 2010 01:04 PM

Laurie Logan

Keller Williams Realty, Inc., Broker Associate - Madison, WI

South Central WI Real Estate

Hey Adam,

I would edit out much of the bulky text - use an attention getting intro - summarize your 'special values' in bullet points - quick close with some 'be careful' points of advice.

Remember, these folks may be in denial. If not, they are probably frustrated, probably angry.

You also need to have some qualification system to sort the folks you can help, from those that you probably can not.

Good Luck!

Jan 04, 2010 10:55 PM

Thank you all for the advice.

Laurie do you have an example of the attention getting intro or a letter you would like to share? Please email me.

Adam

Jan 06, 2010 05:27 AM

Brett Reichel

Homebridge Financial Services - Rancho Cucamonga, CA

MLO 210215

Adam - the letter is fine, I think the key is what you do with the letter. You need to have other follow up systems in place to really reach these folks. Many of your fellow Realtors are sending out letters, you just have to find a way to be different. Reach them via e-mail, knocking on the door, more mailings, whatever works to get their attention. Lotsa work, and a few confrontations, but it can work!

Brett

Mar 21, 2011 05:59 AM

Foreclosure letter marketing

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