Are you one of the TOP real estate agents, running TO short sales instead of AWAY from them? Short Sales will dominate the market, for the next 3 - 5 years so you're smart to learn the process and take advantage of the short sales. Need more lead sources?
In some neighborhoods, you can go door-knocking and almost every house will be a short sale. Short of that, here are major strategies that I recommend:
1. Getting pre-NOD leads from a credit bureau. In other words, homeowners who have missed several mortgage loans payments (therefore they will probably default) but have not yet had a Notice of Default filed. You will pay for the lead per each homeowner info you receive. The leads will probably include: mailing address, possibly a phone #, but not an email address.
2. Getting NOD leads from a foreclosure database. I have found this to be the most effective source of leads. Start with your local service area, a specific zip code or 10-mile radius around your street address. Select those that recently had a NOD filed but have not yet had a NOTS filed. (Once a Notice of Trustee Sale is filed, it is nearly impossible to stop the foreclosure and it's a lot of time & energy spent on putting out a crisis fire.) You won't get phone #s or email addresses so door knocking is your best bet (homeowners in default do NOT open their mail). Remember half of them don't live at the house any more, but often the tenants will give you their contact info.
3. Getting home owners to respond to your web site. This requires advancted web site skills and SEO search engine ranking coding, and probably some large monthly fees to stay at the top of search engines. This is not quite as effective as #1 and #2 because you have to wait for the homeowner to find YOU; and they may not be in your geographic area. Besides, these homeowners may not have a computer or may not find you in their search.
Here's to your success,
Regina P. Brown
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