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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
Stevens Point, WI
Richie Alan Naggar
Pacific Palisades, CA
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.
Fred Griffin presently...
Untill they say yes or no.
Pacific Palisades, CA
What Nestor & Katerina Gasset said about Florida. We have bazillions of them; most of them will not make it to Court for several years.
Ryan Huggins - Thousan...
Thousand Oaks, CA
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.
Tony and Suzanne Marri...
I would offer them a solution so they call you.
I would not call them. If you mail out info you can do it often .
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.
For listing it is worth the trouble to contact. Most will not likely to sell.
As for a buyers save ur time.
Till they buy or die!
Rancho Cucamonga, CA
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.
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).
I like the thoughtful response and approach offered by Richie Alan Naggar.
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
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.
This is a very difficult niche to get into.
Evelyn Johnston nailed this one!
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.
Face to face contact.
When you visit foreclosures, you sometimes see a stack of mailers.
One time is not enough. You are specialized to help the homeowners who are in default?
Once is not enough for any leads, Greg. Minimum 3 times.
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.
Greg Marchese - I am sure they will have some tutorials on how to approach them. And it should be empathy rather than seeking business.
When I was a repo king (not really) I would contact prospects twice a week for three weeks in a row
Don't do foreclosures. We have very few of them in my market area.
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.
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!