Foreclosure Prospecting

When prospecting any foreclosure investor that knows their salt one of their first questions that will come is "Do you door knock?". If your answer is no, you lost yourself an investor. If your answer is yes, YOU BETTER PROVE IT. Because when push come to shove; and you haven't produced; your clients will know you lied. Then statistically speaking your former clients will tell 12 people how you lied to them. So, before you speak check every fear at the door, for when your hand reaches that solid core be prepared for what comes. The person on the other side of that door is scared, in denial, angry, addicted to some drug (usually a alcoholic, statistically speaking in Washington), has a savior medical issue (mental impairment or physical), and will have a story to go along with all of it. And unless you can muster the empathy and will to patiently LISTEN, you are in the wrong area of work. 

Next, knowing you have the courage to deal with what is on the other side. You need prospects. How do you get prospects? There are many resources. I prefer realtytrac.com they manage the most extensive foreclosure research site I have see online. You have to pay of course, but if there is money to be made, it is usually not free to get there. Don't be afraid, you need at the data you can collect to limit your possibility of failure. But at the same time don't be afraid to mess up, because human dynamic predicts you learn the most from failure. So enjoy the lesson, and don't do it again.

After you have formed your prospecting list, and knocked on many doors after most likely weeks of labor. You obtained an interested party, do not ruin it trying to take them for the bottom dollars. You will put your self back at the end line with all of the other people knocking on their door.  So remember WIN/WIN. You get what you need and they get what they need. Be honest, if they ask you about your profit, show there is nothing to hide. With that honesty, you will create a business that has many return clients.