Greg Marchese, Specializing is Luxury and distressed properties (Prestige Real Estate Group)

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Rainmaker
2,424,404
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

This is sensitive subject for many entering into or already in foreclosure. I suspect they would need various types of help & counsel in return for helping you. Follow up? Be sensitive and caring. You will know what to do

Aug 19, 2016 06:40 AM
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
Get It Done For Me Virtual Services

Sorry, I did not click to your profile to see what state you are in. 

Here in Florida those are not working out too well, since most people who are in pre-foreclosure have been there going on 10 years now with not paying their mortgage payment. They have no incentive to do a short sale. :) 

In the 3 towns closest including ours- there are over 800 of these. They don't answer their phones, most change their #s, and they are oblivious to the barage of mail. 

Again, depends on if your state is a deed state or a trust deed state. 

Aug 19, 2016 09:32 AM
Rainer
128,785
Harjeet Bhatti
MB Financial Bank - Schaumburg, IL
Home Mortgage Consultant 44 States

Untill they say yes or no.

Aug 19, 2016 07:04 AM
Ambassador
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Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

What Nestor & Katerina Gasset said about Florida.  We have bazillions of them; most of them will not make it to Court for several years.

Aug 19, 2016 02:19 PM
Rainmaker
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Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Short Sales are such a small part of our market these days I cannot exactly remember, but it seems like I had an 8 letter series I sent out. Usually by the third letter they were calling me.  

Aug 19, 2016 01:02 PM
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Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I would offer them a solution so they call you.

Aug 19, 2016 08:18 AM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I would not call them. If you mail out info you can do it often . 

Aug 19, 2016 07:34 AM
Rainmaker
2,896,269
Richard Weeks
Dallas, TX
REALTOR®, Broker

Do you have cash buyers ready to pull the trigger?  If yes send them a letter.  Let them know you have buyers who can pay cash, close quick, but the house as is, and no realtor commission involved.

Aug 19, 2016 04:59 AM
Rainmaker
984,759
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

For listing it is worth the trouble to contact. Most will not likely to sell.

As for a buyers save ur time.

Aug 19, 2016 04:50 AM
Rainmaker
1,238,672
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

Till they buy or die!

Aug 19, 2016 04:40 AM
Rainmaker
534,300
Tony Lewis
RE/MAX of Valencia (Hall of Fame) 30 year Valencia Resident - Valencia, CA
RE/MAX Valencia, Stevenson Ranch, Santa Clarita

Greg Marchese a short sale demands far more work that is worthwhile in the current market.  I suggest getting back into traditional real estate and trying to avoid working with a short sale now as lenders are not very cooperative in a market that has risen so fast.  This in in my service area anyway, yours may be quite different.

Aug 20, 2016 12:33 PM
Rainmaker
1,211,254
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Greg,

Pre-foreclosure can last a long time and most owners have zero motivation to move.  Some out here don't pay the mortgage, but have 4 new luxury cars, a nice boat and a high-end truck to pull it with.

Your best bet is to offer solutions to those that are interested in a solution.  You need to really understand how they work though, because some like Short Sales can be tricky and the banks don't always know how they work (my broker actually had to teach a few of the big banks how to do them).

Aug 20, 2016 08:11 AM
Rainmaker
3,241,576
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I like the thoughtful response and approach offered by Richie Alan Naggar.

Aug 20, 2016 01:07 AM
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Your efforts might be better spent by personally contacting law offices specializing in helping distressed homeowners and offer your services with CMAs, and your Market Opinion on expected DOM, etc. The rest will follow

Aug 19, 2016 11:08 PM
Rainmaker
1,404,164
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

If I was having trouble paying my mortgage and was in danger of losing my home and was dealing with all the anxiety that went along with my life troubles, the last thing I would want would be multiple calls from an agent. If I got one call, I'd take their information "just in case" and I'd tell them I would call THEM if I needed their services and to please not call back. If they called back, their information would go in the garbage.

I just think pre-foreclosure homes are very very tricky and require a lot of tact and kindness.

Aug 19, 2016 10:51 PM
Rainmaker
4,796,551
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

This is a very difficult niche to get into.

Aug 19, 2016 10:13 PM
Rainmaker
3,049,971
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Evelyn Johnston nailed this one!

Aug 19, 2016 10:08 PM
Rainmaker
1,505,347
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

I would also tell them about short sales. The people are mostly in denial so maybe every 2 weeks but then I'm sure they are inundated with attorneys offering help.

Aug 19, 2016 10:01 PM
Rainmaker
5,264,623
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Face to face contact. 

When you visit foreclosures, you sometimes see a stack of mailers.

Aug 19, 2016 09:29 PM
Rainmaker
1,477,956
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

One time is not enough. You are specialized to help the homeowners who are in default? 

Aug 19, 2016 06:53 PM
Rainmaker
633,936
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Once is not enough for any leads, Greg. Minimum 3 times.

Aug 19, 2016 06:15 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

I am sure that the people on this list are used to ignoring mail, it may take quite a few interesting mailings to get through.

Aug 19, 2016 05:23 PM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Greg Marchese - I am sure they will have some tutorials on how to approach them. And it should be empathy rather than seeking business.

Aug 19, 2016 02:54 PM
Ambassador
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

When I was a repo king (not really) I would contact prospects twice a week for three weeks in a row

Aug 19, 2016 02:46 PM
Ambassador
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Don't do foreclosures.  We have very few of them in my market area.

Aug 19, 2016 01:21 PM
Rainer
302,029
Melissa Jackson
Citiwide Alliance Realty - Weatherford, TX
Helping You Make The Right Move

I will be back to check out your answers.  When I for my licenses, I wanted to work in this niche.  A few years ago our area was saturated. These people need someone to help them see there is a way out. 

Aug 19, 2016 10:52 AM
Rainmaker
725,330
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Up to 15 touch points (that's stretching it to the MAX), lots of detail there, getting face to face is very important. NODs are public, I can obtain them through the RPR or other feature that comes with your MLS benefits. If you must pay for them, I personally prefer ReboGateway for the ease and organized format (I believe I pay $500./year for that).

Greg, partner up with an experienced default expert on your first few default transactions. Get the deals done, split the commission, learn big time!

Aug 19, 2016 07:59 AM