In Ben Kinney’s listing presentation, he discusses the “Foreclosure Triangle.” The premise is that the number of foreclosure properties on the market is getting worse, not better, which is going to drive down the value of homes in most areas. Ben uses a simple diagram to clearly present this dilemma to prospective sellers. Watch this video to learn about handling price objections during the listing presentation and encouraging sellers to list their property sooner rather than later.
The image is based on data published by DS News, a real estate publication that reports default and delinquent rates by county and state. The stats for Washington used in this example are:
- 10% of all homeowners are 30 days late on their mortgage
- 5.9% are 90 days late on their mortgage. (This group almost never recovers)
- 1.6% are foreclosed but are not on the market yet
- .3% are foreclosed properties on the market
Make sure you listen through the end of the video… Ben Kinney throws in a little-known tip for female and minority real estate agents looking to gain a good advantage in our current market!
This video clip was recorded during the RainCamp event hosted by ActiveRain in December, 2012.