Short Sale Prospecting

By
Real Estate Sales Representative with #1 Advantage Realtors

I have been working tirelessly trying to get short sale listings.  So far I have sent 2 letters to the mortgage brokers in town asking them to send me leads that they could not refinance and are facing foreclosure or adjustable rate they can no longer afford. 
I have had some response form this, but minimal and no leads.

My newest effort is a post card.  I have this post card printed on jumbo card stock 5.5x8.5 in full color.  I have sent over 500 post cards to 2 different neighborhoods.  Both of these neighborhoods are fairly new starter home additions.  The type of neighborhood you find a lot of foreclosures in.  Well, I have had ZERO response from this card and need to figure out what I can change to get better response.  Here is the front of the card:

Short Sale Post Card

One the back it reads:

Call us if:
*You have to sell but don't have enough equity
*You are behind on your mortgage and can't get caught up.
We want to help you! 260-70.......
*Must be able to prove a Financial Hardship

In an effort to improve my short sale prospecting, I would love to hear your opinion on my post card.  I would also like to hear what you do to solicit short sale listings.

Comments (18)

Vicente A. Martinez
Prudential Douglas Elliman Licensed Real Estate Salesperson - Woodhaven, NY
Realtor, Brooklyn - Long Island - Queens Homes
Joe I love this postcard. It has all the elements of a great marketing piece. Best of luck and keep doing what you do.
Oct 15, 2007 05:39 PM
Paul Moye
Benchmark Realty - Franklin, TN
Broker, GRI, SRES
Awesome prospecting tool! I moved you to a featured position on the Short Sale Specialists page
Oct 17, 2007 03:30 AM
Joe Leksich
#1 Advantage Realtors - Fort Wayne, IN

Vincent & Paul,

Thanks for the reassurance.  I thought it was a good post card, but have had no response from it yet.  I suppose it is a numbers game.

Vincent, thanks for bumping me up to featured so I can get some more views!

Oct 17, 2007 05:31 AM
Vicente A. Martinez
Prudential Douglas Elliman Licensed Real Estate Salesperson - Woodhaven, NY
Realtor, Brooklyn - Long Island - Queens Homes
Hi Joe, it was actually Paul who bumped you up to feature (just giving credit where credit is due). Have you tried going back 3+ months and mailing this postcard to homeowners that are perhaps a little more anxious?
Oct 17, 2007 06:19 AM
Stella Barbour
NoVa Brokers LLC - Vienna, VA
Principal Broker, Serving Virginia and Maryland
Great postcard.  It takes time for people to make that decision.  You may get calls when they become more behind.  
Oct 19, 2007 01:56 PM
Robin Willis
eXp Realty - Tucson, AZ
CDPE, SRES, Associate Broker
Joe, You could contact your title company and get a list of names of people who are behind in paying their property taxes.  Chances are, they are also behind on mortgage payments and these would be the folks who might respond to your postcards.
Oct 25, 2007 10:48 AM
Lowell Caro Jr.
Keller Williams - Las Vegas, NV
REO Broker and Market Advisor

I like the post card as well.  My team and I are doing some short sales in Las Vegas.  I'm doing a post card campaign as well.  I'm not sure how the geography is in Indiana, but I target zip codes that are convenient for me to service.  Our title companies out here will provide a notice of default list from which my admin assistant hand addresses the post cards and sends out.  Nevada is a non-judicial foreclosure state, so it may work differently out there.  We get the NOD list from my title company, sort the addresses by zip codes and mail to the zips I've selected.  If you can take this approach, you aren't just blasting a neighborhood hoping to find the people that need your help.  If you are able to access the same info in Indiana, I'd be glad to go into more detail with you.  As I said, I'm not familiar with the foreclosure process or timelines in Indiana, but Vincent had a good suggestion.  I hit the same people three times.  One thing I would be careful of is "openly/outwardly" advising homeowners not to make their payments.  Good luck and keep working it!

 

Oct 26, 2007 03:42 PM
Lyn Sims
Schaumburg, IL
Schaumburg Real Estate Agent Retired

Great piece, why not try the smaller local newspaper flyers in your area. They are more reasonably priced.

Just have the copy cut down to the size you want.

 

Oct 30, 2007 07:32 AM
Victoria Altadonna
Elite Premier Properties - Rochester Hills, MI
Real Estate Consultant
Joe, I love doing post cards and have always been successful doing them.  HOWEVER, I have been told that they dont work anymore.....Target the homeowners that you KNOW are already in trouble, check the list in your county for foreclosure filings. Send the cards, and make the phone calls. People are in denial and of course will wait until the last minute to try to bail themselves out. Short Sales are alot of work, are you sure that is something you want?
Oct 30, 2007 12:05 PM
Joe Leksich
#1 Advantage Realtors - Fort Wayne, IN

Thank you all for you possitive feedback.  That is what I needed to hear.

I am going to head to the courthouse this week and see how I can get a list of the NOD's and start mailing to them.

Oct 30, 2007 02:02 PM
Kim Zajan -- Oviedo FL Real Estate
Prudential Florida Realty - Oviedo, FL

Really cute postcard.  I have found with postcards and letters that it takes a few mailings to get a response.  Maybe if you sent the postcard every 2 -4 weeks?

 

Oct 31, 2007 03:49 AM
Anonymous
John Lopez

Hi Joe,

No Fluff here!

You posted a comment looking for an opinion on your post card, Yes?

It's all RETAIL!

 

 

Success To All,

 John Lopez

313-258-1001

realestatemichigan@yahoo.com

www.MichiganInvestorNetwork.com

 

 

Nov 01, 2007 04:07 AM
#12
Darla McIntosh
Prudential Florida Realty - Fort Myers, FL

It seems that 9 out of 10 numbers are on the do not call list? Anyone had any luck with that?

Dec 10, 2009 06:35 AM
Vickie Nagy
Coldwell Banker Residential Real Estate - Palm Springs, CA
Vickie Jean the Palm Springs Condo Queen

Thanks for sharing your post card. I'm researching today, becuase I need to get started on some mailings.

Feb 01, 2010 07:09 AM
Pamela Carter
Ed Price & Associates - Trinity, NC
Realtor, SFR - Archdale/Trinity NC Real Estate

I know this is a couple of years old, but I like it!  Thanks for sharing.

Feb 11, 2010 02:19 AM
Marty and Laurie Gale
Utah Realty - South Jordan, UT
Utah Realty | 801-205-3500 | UtahRealtyPlace.com

It's amazing how many short sales go to foreclosure!

May 04, 2010 02:37 AM
Grace Keng
Keller Williams Realty Cupertino - Cupertino, CA
CRS, CDPE (408) 799-8887

What is best post card working for you now?

Grace Keng

Sep 01, 2010 12:36 PM
Anonymous
Bruce

Try/conact your  title company rep, ask for information on properties on properties closed between 2004 and 2006. This is when most of the bad loans were made.  Got  this idea from a sucessful investor

Jul 17, 2011 01:38 AM
#18