Is anyone willing to share their techniques for prospecting Short Sale sellers?

 

I will go 1st:

I send out a few mail outs to individuals on the NOD list in my market.  I purchased my letters from http://www.copybymarte.com/pro/ShortSaleLetters.html and modified them to fit my needs.  I also use REDX to manage my letter campaigns.  It saves me a ton of time to have REDX find the owners information.

 

Don't goto REDX to purchase the service.  I did a google search for "red x discount" to purchase my version.  I think I was able to find a coupon code for one month free and free setup.  I think I saved $120.

Views: 4316

Reply to This

Replies to This Discussion

Mr. Walker -

1. what % of prospects reply to you and set an appointment?

2. what is your return on investment? In other words, how much do you invest in a prospect and  how much do you get in return?

 

Here's my plan:

I send a very polarizing message on postcards.

 

I target the price range of listings that I desire.

 

I never send anything till they've been on the NOD list for at least a month - in Nevada we've got a Mediation program that requires them to sign up within 30 days of NOD filing - and I've found that if you contact them in that early period -  you're wasting a bunch of postage on people that are trying to do loan mod's and avoid short selling.

 

I mail the identical postcard to them every 5 days for - total of 6 cards in 30 +/- days.

 

My investment is less than $1.50 per household.

 

My typical gross commission is $4,000

 

I'm getting about a 3% response (for an investment of less than $1.50 per address)

 

I mail to 100 households at a time.

Get my 3% response (3 appointments).

Meet with at least 2 of them.

I generally ACCEPT 1 listing. (rejecting the other as someone I don't want to work with).

I'm closing 80% of my deals with an average of around 100 days from list to close.

Thus - for an investment of $150 I'm taking home almost $4,000 (or a return on MARKETING investment of over 2,500%)

I'm adding staff and starting a new crop of 100 prospects every week.

 

Mr. Patton, 

 

Thanks for replying to this thread.

Between 2.5 - 3% of prospects respond to my mail outs.

 

I have a higher cost because I hand write the address on all of my mail outs.  I use no. 10 plain white envelopes, $.44 stamps, and my letter contains 1 - 2 sheets of paper (plain on 1st mail out and letter head on the remainder).  I usually mail out my 2nd piece 7 days after the 1st because a lot of NOD's do not provide the post office with forwarding addresses.  

 

How did you come up with a total investment of $1.50 per address when you send out 6 pieces on average?  Just the postage would exceed the $1.50 per address.

 


Michael Patton said:

Mr. Walker -

1. what % of prospects reply to you and set an appointment?

2. what is your return on investment? In other words, how much do you invest in a prospect and  how much do you get in return?

 

Here's my plan:

I send a very polarizing message on postcards.

 

I target the price range of listings that I desire.

 

I never send anything till they've been on the NOD list for at least a month - in Nevada we've got a Mediation program that requires them to sign up within 30 days of NOD filing - and I've found that if you contact them in that early period -  you're wasting a bunch of postage on people that are trying to do loan mod's and avoid short selling.

 

I mail the identical postcard to them every 5 days for - total of 6 cards in 30 +/- days.

 

My investment is less than $1.50 per household.

 

My typical gross commission is $4,000

 

I'm getting about a 3% response (for an investment of less than $1.50 per address)

 

I mail to 100 households at a time.

Get my 3% response (3 appointments).

Meet with at least 2 of them.

I generally ACCEPT 1 listing. (rejecting the other as someone I don't want to work with).

I'm closing 80% of my deals with an average of around 100 days from list to close.

Thus - for an investment of $150 I'm taking home almost $4,000 (or a return on MARKETING investment of over 2,500%)

I'm adding staff and starting a new crop of 100 prospects every week.

 

Postcard postage is only 22 cents each = $1.32

4 color / 2 side postcards are 3 cents each (5,000 qty) at PrintPlace.com = .18

 

Thus - $1.50 per household for 6 postcards mailed every 5 days over a 30 day +/- cycle.

 

NOTE: I also have learned from many of my clients they are FLOODED with solicitations in the first few weeks of the NOD filing - and have not even opened or looked at most of that mail... calling it SCARY MAIL. When you wait 30 days, you become about the only thing they see, as other agents have stopped mailing already.



Abraham Walker said:

Mr. Patton, 

 

Thanks for replying to this thread.

Between 2.5 - 3% of prospects respond to my mail outs.

 

I have a higher cost because I hand write the address on all of my mail outs.  I use no. 10 plain white envelopes, $.44 stamps, and my letter contains 1 - 2 sheets of paper (plain on 1st mail out and letter head on the remainder).  I usually mail out my 2nd piece 7 days after the 1st because a lot of NOD's do not provide the post office with forwarding addresses.  

 

How did you come up with a total investment of $1.50 per address when you send out 6 pieces on average?  Just the postage would exceed the $1.50 per address.

 


Michael Patton said:

Mr. Walker -

1. what % of prospects reply to you and set an appointment?

2. what is your return on investment? In other words, how much do you invest in a prospect and  how much do you get in return?

 

Here's my plan:

I send a very polarizing message on postcards.

 

I target the price range of listings that I desire.

 

I never send anything till they've been on the NOD list for at least a month - in Nevada we've got a Mediation program that requires them to sign up within 30 days of NOD filing - and I've found that if you contact them in that early period -  you're wasting a bunch of postage on people that are trying to do loan mod's and avoid short selling.

 

I mail the identical postcard to them every 5 days for - total of 6 cards in 30 +/- days.

 

My investment is less than $1.50 per household.

 

My typical gross commission is $4,000

 

I'm getting about a 3% response (for an investment of less than $1.50 per address)

 

I mail to 100 households at a time.

Get my 3% response (3 appointments).

Meet with at least 2 of them.

I generally ACCEPT 1 listing. (rejecting the other as someone I don't want to work with).

I'm closing 80% of my deals with an average of around 100 days from list to close.

Thus - for an investment of $150 I'm taking home almost $4,000 (or a return on MARKETING investment of over 2,500%)

I'm adding staff and starting a new crop of 100 prospects every week.

 

Would you be willing to share the postcard?

Abraham Walker said:

Mr. Patton, 

 

Thanks for replying to this thread.

Between 2.5 - 3% of prospects respond to my mail outs.

 

I have a higher cost because I hand write the address on all of my mail outs.  I use no. 10 plain white envelopes, $.44 stamps, and my letter contains 1 - 2 sheets of paper (plain on 1st mail out and letter head on the remainder).  I usually mail out my 2nd piece 7 days after the 1st because a lot of NOD's do not provide the post office with forwarding addresses.  

 

How did you come up with a total investment of $1.50 per address when you send out 6 pieces on average?  Just the postage would exceed the $1.50 per address.

 


Michael Patton said:

Mr. Walker -

1. what % of prospects reply to you and set an appointment?

2. what is your return on investment? In other words, how much do you invest in a prospect and  how much do you get in return?

 

Here's my plan:

I send a very polarizing message on postcards.

 

I target the price range of listings that I desire.

 

I never send anything till they've been on the NOD list for at least a month - in Nevada we've got a Mediation program that requires them to sign up within 30 days of NOD filing - and I've found that if you contact them in that early period -  you're wasting a bunch of postage on people that are trying to do loan mod's and avoid short selling.

 

I mail the identical postcard to them every 5 days for - total of 6 cards in 30 +/- days.

 

My investment is less than $1.50 per household.

 

My typical gross commission is $4,000

 

I'm getting about a 3% response (for an investment of less than $1.50 per address)

 

I mail to 100 households at a time.

Get my 3% response (3 appointments).

Meet with at least 2 of them.

I generally ACCEPT 1 listing. (rejecting the other as someone I don't want to work with).

I'm closing 80% of my deals with an average of around 100 days from list to close.

Thus - for an investment of $150 I'm taking home almost $4,000 (or a return on MARKETING investment of over 2,500%)

I'm adding staff and starting a new crop of 100 prospects every week.

 

I too started mailing to NOD's- plain envelope, handwritten with two sheets of paper inside. No response yet. I mailed to new NOD's total of 3 times every week. It's a great idea to wait a month before mailing to new NOD's. Mr. Patton, can you share  a post catd you are sending? I definitely want to start doing postcards - they are twice cheaper and I think many people don't even open the envelopes anymore.. Thanks!


http://survivingcalifornia.wordpress.com/2011/02/23/home-ownership-...

 

I'm headed out for the day - the link above will be the quickest way to show you the "general" polarizing nature of my postcard.

 

Check iStockPhoto.com, shutterstock.com, dreamstime.com for many illustrations you may purchase "on the cheap"

 

Linda Pillard said:

Would you be willing to share the postcard?

Abraham Walker said:

Mr. Patton, 

 

Thanks for replying to this thread.

Between 2.5 - 3% of prospects respond to my mail outs.

 

I have a higher cost because I hand write the address on all of my mail outs.  I use no. 10 plain white envelopes, $.44 stamps, and my letter contains 1 - 2 sheets of paper (plain on 1st mail out and letter head on the remainder).  I usually mail out my 2nd piece 7 days after the 1st because a lot of NOD's do not provide the post office with forwarding addresses.  

 

How did you come up with a total investment of $1.50 per address when you send out 6 pieces on average?  Just the postage would exceed the $1.50 per address.

 


Michael Patton said:

Mr. Walker -

1. what % of prospects reply to you and set an appointment?

2. what is your return on investment? In other words, how much do you invest in a prospect and  how much do you get in return?

 

Here's my plan:

I send a very polarizing message on postcards.

 

I target the price range of listings that I desire.

 

I never send anything till they've been on the NOD list for at least a month - in Nevada we've got a Mediation program that requires them to sign up within 30 days of NOD filing - and I've found that if you contact them in that early period -  you're wasting a bunch of postage on people that are trying to do loan mod's and avoid short selling.

 

I mail the identical postcard to them every 5 days for - total of 6 cards in 30 +/- days.

 

My investment is less than $1.50 per household.

 

My typical gross commission is $4,000

 

I'm getting about a 3% response (for an investment of less than $1.50 per address)

 

I mail to 100 households at a time.

Get my 3% response (3 appointments).

Meet with at least 2 of them.

I generally ACCEPT 1 listing. (rejecting the other as someone I don't want to work with).

I'm closing 80% of my deals with an average of around 100 days from list to close.

Thus - for an investment of $150 I'm taking home almost $4,000 (or a return on MARKETING investment of over 2,500%)

I'm adding staff and starting a new crop of 100 prospects every week.

 

Thanks!!

 

Here's a link an online printing company that offer a full series of NOD postcards to choose from: http://bit.ly/fBgUmI

 

@Michael Patton - What size card do you use?  

thanks for the tip.

Since you are sharing . . here's mine

I wrote an eBook about short sales and it brings me leads

Here was my process. . 

Compelling URL. .in my case it was AdiosLender.com

Create a compelling landing page to capture their names and emails

When they signed up, they automatically subscribe to a drip campaign from me

Facebook fan page

Twitter. .and I subscribe to anyone that is in my market area. . Twitter will send a message for me Mortgage underwater? www.AdiosLender.com

I use linkedin. .

I use craigslist

I use banners, signs, yard signs, QR codes

And a few other places . .

bottom line, my ebook gets me already willing to sign listing appointments

 

 

Mailing post cards or letters to the NOD doesn't work so well in GA, as the NOD notice only comes out 4-5 weeks prior to the actual sale date, leaving little time to get a response from the seller, list the property and  get an offer to submit in time to forestall the sale. The few I've listed as a result of my mailings have all gone to foreclosure before we could get an offer on the table. Lenders no longer are willing to postpone a sale just because the property is listed. They now need an offer in process.

 

I get the most leads from my online presence and referrals from past clients. My ActiveRain blogs produce good search engine results for me. And I promote my CDPE advanced website, www.BestAtlantaShortSales.com, on everything I do.

Fernando, could you explain a little more about how you use twitter? You say twitter will send a message for you for Mortgage Underwater?

How's that work?

 

Fernando Herboso said:

Since you are sharing . . here's mine

I wrote an eBook about short sales and it brings me leads

Here was my process. . 

Compelling URL. .in my case it was AdiosLender.com

Create a compelling landing page to capture their names and emails

When they signed up, they automatically subscribe to a drip campaign from me

Facebook fan page

Twitter. .and I subscribe to anyone that is in my market area. . Twitter will send a message for me Mortgage underwater? www.AdiosLender.com

I use linkedin. .

I use craigslist

I use banners, signs, yard signs, QR codes

And a few other places . .

bottom line, my ebook gets me already willing to sign listing appointments

 

 

RSS

Members

© 2019   Created by Brett Goldsmith.   Powered by

Badges  |  Report an Issue  |  Terms of Service

********************************** like buttons ************************