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Short Sale Prospecting Techniques

Posted by Abraham Walker on March 26, 2011 at 5:30am in Short Sale Discussions

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.

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Replies

  • FightForHomeowners March 30, 2011 at 7:43am

    Hi. Rick Sharga, from Realty Trac, mentioned that it was illegal to use Pre-Nod lists. Does anyone know if this is true or not?

     

    Thanks!

  • Michael Patton March 28, 2011 at 12:37pm

    The small size 4 x 6 or 4.25 x 6.... same low cost for postage.

     

     


    Abraham Walker said:

    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?  

  • Kathy Wegwert CDPE March 28, 2011 at 2:21am
    Is anyone subscribing to a service to get the names and address to mail out?  I understand there are companies who have information for those that that have rec'd NODs 30 days, 60 days etc?

    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.

     

  • Fernando Herboso March 28, 2011 at 1:20am

    Elva: When someone wants to follow you on Twitter . . .Twitter will send an email message on your behalf. .

    I find people from my area and I just ask to follow them.. .

    They  in turn will receive an email from Twitter saying. . 

    www.AdiosLender.com is now following you 

    with my loaded picture/ad/free with a question that most people are facing today. . 

    mortgage underwater? 

    AdiosLender.com

    They may not want to follow you. . but they are curious to see what is Adios Lender about.. .(caveat:there is a limit here. .be careful) 

    Then there is Facebook, Linkedin . .another ways to market it yourself that most people don't  know about.. .

    Essentially is just thinking out of the box and pretending you're your best customer. . .how do I find thy self? 

     

     

  • Elva Branson-Lee March 27, 2011 at 3:37pm

    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

     

     

  • Elva Branson-Lee March 27, 2011 at 3:33pm

    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 Herboso March 27, 2011 at 6:53am

    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

     

     

  • Frank Shamoo March 27, 2011 at 6:11am
    thanks for the tip.
  • Abraham Walker March 27, 2011 at 6:02am

    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?  

  • Alexandra Germon March 27, 2011 at 5:16am

    Thanks!!

     

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