No LUCK with Short Sale Mailings
Remember these two basic realities...
1. Return on direct mail is less than 1.5% So, if you mail out 100 pieces you generally receive ONE RESPONSE almost not worth the effort...
2. 70% of all homeowners that have been foreclosed. Never reached out to find out what their options were.
maybe... they are experiencing one or most likely all of the following:
Afraid to answer the phone, Afraid to open a piece of mail they don't recognize and are even Afraid to answer the door.
kinda makes it hard to reach these people..ya think!
Any ideas out there...?
Replies to This Discussion
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Permalink Reply by Rick Trono on
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Ben,
Your message to Nate is correct and let me add the following...
If your adresssee's name(s) are NOT handwritten, legible and the names are not spelled correctly...DONT SEND IT OUT...short seller's are sensitive and look for reasons NOT to open your mail piece.
Ben Benita said:Nate - giving out more of the "good stuff", HANDWRITTEN envelopes guys, ALWAYS and without exception....
"Wa wa wa...but Ben it takes too long" -
Well make the time or find someone to do it for you (if you are not willing to do this, quit complaining about your only having 5 or 10 listings).
Door knocking - again as Nate noted, when you order the lists, mapquest and other sites (or a good GPS), can be certain to guide you to your destination via a few of the homes on your NOD lists....make the time, make it happen
"Wa wa wa.....but Ben I do not like to knock on doors"
Well, then see what I just wrote, quit complaining about only having a handful of listings, and, know that YOUR BEING "UNCOMFORTABLE" MIGHT HAVE JUST LOST SOMEONE THEIR HOME.
ANYONE here that has helped a homeowner get through, and, saved them from foreclosure, can attetst that their hearing from you was ONE OF THE BEST THINGS THAT EVER HAPPENED TO THEM!!!
Something else touched on - MAKE YOUR SCRIPT (and you had better have one) about the homeowner....as Nate noted, if the Homeowner thinks you are in it for your paycheck only, you will hear LOTS of "let me think about it"
One of the BEST books you will ever FIND on marketing -
Any of the "NO BS" book series by Dan Kennedy
and also,
most any sales information you can find from Brian Tracey (just spend 7 minues looking him up on YouTube and see what he has to say about selling).
NOW GO HELP SOME HOMEOWNERS!!!!!
Accordng to general statistics, there are more than 2,000,000 people in this country going to bed tonight HOPING TO HEAR FROM SOMEONE JUST LIKE YOU!!!!
Having been there myself, I would have gladly welcomed someone at my door back in 2005 when I put my family through bankruptcy, we lost 11 properties BECAUSE AGENTS WERE TOO SCARED TO KNOCK ON OUR DOOR!!!!
Think about that, had you knocked on my door back in 2005, BOOOOOOM, 11 property listings dumped in your lap, instead....11 properties lost to foreclosure.....
Anyway, go help some homeowners.
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Permalink Reply by Jim Stewart on
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@ Rick Trono,
When I was at Jones I always used "leave-behinds". Brochures usually, sometimes door-hangers. Best time of the day was always after 3:00 as people got home from work but before 6:00 so as to not interrupt dinner. Our goal was to meet a minimum of 25 people per day and potentially up to 50 (this was just after to dot com bust so biz was really tough) so I usually started in the mid to late morning and went through the afternoon. On average I would have to knock on three doors to get fact to face with one person. In the evening I would hand-write a thank you letter to each of those people I met that day. As Ben said above, yes it's a pain in the ass but well worth it. Then the next move was to call all the people I sent thank you's to and ask them if they got my thank you letter. That also was the first opportunity to ask them to buy an appropriate security (or in the case of real estate ask them to list). On average it took 5-7 contacts to make a prospect a client. When you first start with Jones they make you door knock for about 60 days straight, every single day. After that it becomes more of an "as-needed" or "as-desired" thing depending on the quality of your prospect list. At some point after the first two to three years you don't need to door knock in that business anymore, if you've done things right that is. They do have a fantastic system if you follow it. I was scared to death when I first started but got to the point where I much preferred door-knocking to dialing for dollars. That's what I like so much about real estate--getting out of the office and engaging the world!
Rick Trono said:
Jim,
In your trading days - Did you have a Plan for your door knocking that you did each week? Did you use "leave behinds" What worked ? What didnt? Did you doorknock every day? Best time of the day ?
I never door kocked... any tips you can share would be greatly appreciated
Rick Trono
Jim Stewart said:I was a stock broker with Edward Jones from late 2000 to late 2002 and literally knocked on thousands of doors. Never once did I get a door slammed in my face even though the stock market was totally tanking at that time. Door knocking works and you will be totally amazed by the results. I need to get back in to it again now in real estate!
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Anyone here care to reveal their script for door knocking/cold calling DQ borrowers?? I don't think any of us compete against each other.
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Permalink Reply by Jeff Payne on
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This has been a great post! We talk alot about the mechanics of a short sale but the business side of it is very important too.
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Permalink Reply by Jesse Hammond on
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I like to door knock expired listings and have had great success at it. I have been reluctant to do it with short sales because of the "embarrassing nature" of being in financial problems. If you don't mind me asking what do you tell them?
Jesse Hammond
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Permalink Reply by Deidre St. Romain on
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Kidding? You are their "hero"...you are there to help them and THAT is what you say. "I see that your home is off the market and since I work in this neighborhood I am dropping by to see how I can help you sell your home if you are still interested?...opens the door and gets the conversation flowing...the rest will come naturally. If you approach it from that vein you will have success! Go, knock, be successful!
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Permalink Reply by Ben Benita on
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I will share 1 of the "rules" we have for door knocking the late lists or foreclosure lists:
NEVER USE THE WORD "foreclosure"....
It will IMMEDIATELY put persons on the defensive, and, you may not be talking to the person who actually KNOWS about the foreclosure or payment status.
I have had a number of homeowners that respond to our ads, generally the husbands, who say:
"Ben, I might lose my home to foreclosure next week and my wife has no idea....can you help me"
If you show up at this guy's house, and, speak to his wife about their "foreclosure" or "impending problem", you could be in for World War III....
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Permalink Reply by Shari P on
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I appreciate this tip!!
I'm not afraid to door knock. I mean, I did it a couple of hours a day, 5 days a week, 25 contacts a day from 2004-2006 and I got a ton of business. HOWEVER, I have tried on and off the past couple of years to door knock NODs with zero success. I always brought up the words NOD and foreclosure quickly. The owner would immediately tell me they just got current or they were working on a loan mod with the bank already. I would say 90% were stand-offish. Additionally, I did not have a good confidence level because I was nervous about coming off like a tacky money-grubber trying to benefit from their loss.
I read Jim's opening script idea of just treating the door-knock like any other door-knock and then mention possibilities for people behind on their mortgages to see where the conversation goes. Ben, do you have any words of wisdom to add regarding NOD door-knocking scripts?
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Ben that was my fear. Sadly I get calls too often where on spouse has no clue that the house is in some state of forclosure. So how would everyone approach the person that answers the door?
Jesse
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I think treating it like a standard, random door-knock would be best to start with. "Hi, I'm a local Realtor specializing in this neighborhood and wanted to stop and introduce myself... blah, blah, blah" Then at some point say "By the way, one of the things I specialize in is helping people who are behind on their mortgage payments. If you know any neighbors or friends who are having trouble I can usually help them sell their home without any cost to them and potentially have them walk away owing nothing to the bank...." or something of that nature. Then let them take it and run.
Jesse Hammond said:
Ben that was my fear. Sadly I get calls too often where on spouse has no clue that the house is in some state of forclosure. So how would everyone approach the person that answers the door?
Jesse
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That's good stuff Jim!
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Jim,
Thanks for sharing...appreciated by all
Jim Stewart said:Anyone here care to reveal their script for door knocking/cold calling DQ borrowers?? I don't think any of us compete against each other.
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