In part one we had spent considerable time together establishing
that a Pre-foreclosure is the best source of leads for you as
an Agent. If you haven't read part one yet, you can review it
by visiting this link.
Click here for Part 1
So, how do you take that Pre-foreclosure lead and turn it into a listing? I'm glad you asked because that is exactly what we'll cover today together.
Before I get into the step-by-step on how to do it, I want to cover
one very important point. How do we get the Pre-foreclosure lead?
Pre-Foreclosure Information
There are just about as many sources for foreclosure information
as there are for leads for other sellers that may want to sell their
home. With Pre-foreclosures however, there are some even better
(specialty) sources of this information.
"Real Time Data on
Foreclosures"
Foreclosure Data Service Providers, like RealtyTrac, provide (sometimes up to the minute) real time data on foreclosures in any particular area. These service providers are often tied into your local county recorder's office. When a property goes into default, a legal notice is filed for public viewing. These foreclosure data service people are tied into your local recorder's office so they get this information the minute it gets published and forward the data to you.
It gets better... They take the data regarding the property and merge the homeowner's name, liens on the property, the fair market value (estimated), and sometimes even the homeowner's phone number.
How good (current) is this information?
Well, the information is only as good as your local county recorder's
office. If they are computerized (most are nowadays) and up-to-date
with inputting the data into their system, you can get information
that is very current.
Are foreclosure data service providers the only source?
No... In some counties (especially the ones that are a little behind
the times) your local title / escrow company can be a great source
for the data. If you have an established relationship with one of
these companies, ask them if they have their own data collection
system in place. They often have a staff member at the county courthouse
who helps other real estate professionals (YOU) obtain the data.
They may even give you access to their system. It sure beats going
to the courthouse (which you could do) and getting the data yourself.
Prequalification
Now that you have the information and know who has just entered into default
on their property, what do you do?
"Some Can Be A Total
Waste Of Time"
Well, the next step for you is to pre-qualify or generate interest. Believe me... some of these leads can be a total waste of time. Don't get me wrong! I said some, which translates to a small percentage. But those very few can waste enough of your time that it's well worth having a prequalification system like we've built in our Foreclosure Mastery™ program.
Do you want to build your own Pre-foreclosure Prequalification System?
Here's how... I suggest that you create a letter or a postcard
(or a campaign of them) that you send to the homeowner who just
entered this stage of foreclosure. Here are the ESSENTIAL elements
for you to include:
1) You must first gain their attention by focusing on their
problem from their perspective. Help them feel their pain, but
also help them understand that this challenge is a very common one
and that they are not the only ones in this mess.
2) You have to warn them and differentiate yourself from your
competition. Who is your competition? The Greedy, Underhanded,
Despicable Real Estate Investor.
You must also establish that the reason you are different is your fiduciary responsibility to act in their best interests.
3) You have to prove your case by sharing with them your
experience and establishing your credibility. You should
also focus on building value for the client regarding saving
them time, money, stress, etc.
4) You have to wrap up this communication with a little hope and
a call to action. Give them a gentle reminder that time is
not on their side and that's exactly why they need an expert (YOU)
to help them.
Getting The Listing
Once you've gotten in contact with the owner by mail the next step
is the phone.
"Your Confidence Will Win a Face-to-Face Appointment"
You may have received a call from them once they've acknowledged
there's a problem, and talking with you just may be the answer to
solving it. Or you've picked up the phone and started using some
great phone scripts (like the ones included in Foreclosure Mastery™).
I suggest scripts because a homeowner in this type of dilemma must
feel good about the person talking to them. How you achieve that
is the image you portray by having your ducks in a row. Your
degree of confidence will win a face-to-face appointment over
the phone, and that can be achieved using scripts.
Once you get yourself in front of the client, you do it all over
again. Everything that you've communicated to them in your letter(s)
or postcard(s) has to be revisited. These sellers are very motivated.
If you thought that emotion was hard to control when you were in
front of sellers before, just imagine when you turn up the heat
on those emotions and your would-be clients are now in a do-or-die
situation.
"The Rest of the Listing Presentation Will be Easy"
Once you hit it out of the park building trust & credibility,
it's time to close the deal. The good news is that the
rest of the listing presentation will be easy. In fact, you may
not even have to go through your standard listing presentation.
If you do well with the first half of your meeting they likely won't
care to hear how many homes are on the market or why you need to
price it at $$$.
All they care about is that you know what you are doing, you
care about helping them, and that you can rescue their equity by
selling their home as quickly as possible for the greatest amount
of money.
Conclusion
So, for the most part, the best source of new leads from Foreclosures
can be found in Pre-foreclosures. This new source of business
could mean another 100 - 600 new, very motivated (seller) leads
that are desperate for your professional help. And that's for
a market of only 100,000 homes. Your market could have even
more.
Why hasn't this opportunity been made available before?
Well, before now, all the pieces were not readily available.
Today, the technology is in place, the turnkey business-in-a-box-system
is built, and the market for this business is very ripe & growing.
So, if you are tired of your competition and are interested
in carving out a brand new niche for yourself that 99% of Agents
don't know about, you can find out how by visiting our website.
>>>
Show
Me How! <<<
Regardless of how you start or started working with Foreclosures,
I highly encourage you to invest in training along the way. I have
personally gained thousands of dollars in Real Estate Investing
Profits from and investment of less than $20 in a book.
Keep on Learning and Keep on Investing,
Dan Matejsek, VP
RealEstateChampions.com
P.S. If you'd like to get a bigger piece of the Foreclosure
Real Estate Profit Pie, start Foreclosure Investing on your own
behalf, and would like some very affordable, excellent training
click
here.
|
