We've tried out several different ways to get more short sale listings. Of course there are the usual Lis Pendens - Notice of Defaults. We've also chased down short sales that expire with another agent, used Google, Craigslist, and other methods. But, the Lion's Share of our listings come from the Lis Pendens. First off, there are more of these people you can market to versus any other lead source.
Because of that we've put a lot of our time into converting these leads. You probably already know about the biggest problem with Lis Pendens leads. Most of them want to keep their home. They want a loan mod. But, banks are reluctant to approve mods. Most of the time, they won't reduce the payments as lot as the homeowner expects.
Most agents craft their marketing about how they're the best at short sales. The problem is that pre-foreclosure homeowners won't pay attention to those ads until they are ready to do a short sale. Most home owners who want a mod view selling as defeat. If they go that route, then they've given up. The thought repulses them. And your letter about how to short sale probably repulses them as well.
I've been chasing pre-foreclosures for years. They don't decide to sell until they absolutely have to. That's why I decided to give them what they want. That way my marketing message will be in their brain long before any other agent's. The homeowner in foreclosure will already have opted into my marketing. Once they decide to sell, they will already know who I am.
They will call me before all the other agents. The other agents were only willing to help when it involved them making money. I was willing to help whether or not I made any money. Now, don't kid yourself, I don't spend hours or time negotiating loan mods. I give them a free guide on how they can do it themselves. I've been working on this marketing strategy for a while. I finally have it tweaked and ready for other agents to use. Get more info on how to use this strategy for yourself at the bottom of this e-mail.
Here are a few examples of marketing strategies I use to sign up more short sale sellers.
1. The Lis Pendens farming strategy described above.
2. Free Loan mod kit offer to neighborhoods with high foreclosure activity. This helps us find the homeowners who will be short saling before anyone else does.
3. Short sales that expire with another agent. These are excellent leads, but there just aren't as many of them. However, they have the highest conversion percentage of al leads.
4. Google Adwords. A lot of people go online to research their options. A lot of these leads tend to be higher end home sellers, who have decided to short sale because they owe more than it is worth.
If you are looking for a marketing system to list more short sales, then consider ours. We use the above strategies to list a consistent number of short sales each month. After a lot of work, we got our pipeline system working. Now we are offering it to other agents.
Get more info: http://www.AgentLeadExplosion.com .
If you're running into problems with short sale files, then you probably need to look into the How to Escalate a File Course. Get more info at http://www.HowToEscalateAFile.com .
You can get a copy of all the fax numbers for congress and a fax template to send to them here: http://shortsaleagentadvocate.com .
Got questions about short sales? Just ask.
Ben & Chris Curry - The Short Sale Agent's Advocate
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