I’ve read quite a bit on foreclosures and short-sales and feel that I can do this and make it happen. With work and school and tending the kids and finishing my basement, that leaves very little time to work on this. What I’m wondering is what some of you have done, in the beginning, to get into the business of short-sales? Currently, I’m out knocking doors of people that have defaulted on their loans and/or taxes. Am I doing this right? What would be more effecitve/productive to find possible short-sale candidates? Thanks.
Sounds like a lack of time is getting you down. Let others do the work for you. If you want a list of Short Sales go get a Realtor involved that does Short Sales and write offers let them do the work. Short Sales will consume more of your time.
“Hello, [some various first time meeting hello stuff], I am here because I work with a group of real-estate professionals that specialize in the area of foreclosures and helping people avoid that from happening. We’ve been made aware that this home might be facing foreclosure, is that correct?”
Then I structure the conversation from there depending on the response.
However, I’ve been told that the word “foreclosure” is bad, so I modified things to this:
“Hello, [various small talk hello stuff], I am here because I work with a group of real-estate professionals that specialize in helping people out that might be having trouble making the payments on their homes (or I’ll say mortgages depending on spur of the moment gut feeling), is that the situation with this home?”
I say pretty much the same thing when I just call people.
Every person I contact has been verified to either be behind on their mortgages or taxes, so I’m not just hitting up random people. Also, all the things I say to them, I only say if I already have it setup and ready to go, so I’m not just making stuff up.
Your approach as far as knocking doors is good. When I knock doors I never use the phrase “your home is in foreclosure.” I try to use some psychological keys such as;
“Hello Mr. / Mss home owner. My name is Al and I work with XYZ - We can help Co. I was at the court house the other day and could not help but notice your Lender Publicly listed your home fore sale!
I’ve helped others in your situation and I believe I can help you too. So Mr. / Mss home owner, what can I do to help.”
Do you see what I did there? I made the lender the bad guy who Publicly listed there home for sale. Now I’m there advocate to jump in and help them out of there situation.
This approach works very well for me and I hope it helps. :biggrin