I am trying to get a realtor to help me find properties (expired listings, etc) and also a mortgage broker to help me find pre-forclosures. What should I offer them for helping me? How do I contact them? What do I say?
I am currently working on an expired listing campaign myself and I need help to know what’s a agood marketing piece that I can send.
First let try to answer your questions…You can offer your agent a $500 fee for any deals you do when he sends you expired listings , that’s what I did. I am not sure why you need a mortgage broker for preforeclosures, you can get those at your courthouse and sometimes online.
Back to expired listings marketing piece… I sent out about 100 postcards recently but did not get any results. I was thinking about trying a letter, I like that yellow letter idea that I heard about. Can we hear from thet pros as to what works best?
Thanks!
Be careful offering mortgage brokers incentives or fees to help you in finding preforeclosures. Read and study the RESPA guidelines. You do not want to enter into a relationship appearing uninformed.
Also, why offer anyone incentives for preforeclosures? Subscribe to the legal newspapers in your city and you will see the listing for 4 consecutive weeks before the foreclosure takes place. If you cannot afford to subscribe, you can find copies in the library or your closing attorney’s office.
Expired listings could be a good source, however, I just look for FSBO’s that are vacant or have a long distance number…they are motivated to sell, discount, and to make terms.
Rob