Notice of Default & Foreclosure prospecting is a function of making contact using sales scripts.
(Page 6)
If Notice of Default, Forelclosures and Short Sales comprise 30 to 50% of your market ... and you don't call them, .... you're ignoring a sizable portion of business leads.
When Notice of Default filings & Foreclosure listings & Short Sales are at an all time high, you should go after whatever is "currently hot" in your marketplace.
Calling Notice of Default notices & Short Sale mortgage reductions and Foreclosure notices are not like "cold calling."
Calling on Notice of Default notices and Short sale listings and Foreclosure notices are considered highly "targeted" prospects. They have done business with real estate agents before and a business relationship has been established.
As for so-called "do not call" lists, a Notice of Default notice or a Foreclosure notice does not apply. Some would say not to worry about about "do not call" lists. They're fair game.
Regarding the homeowner who has received a Notice of Default notice, for every 100 calls you make, approximately ....
20 will refuse help no matter what you say.
50 will list with a real estate agent that they perceive as professional & are familiar with the Foreclosure process.
30 will choose to let the home go into forclosure.
If you don't make the call .... you won't get the chance to help the prospect.
Obtaining listings from Notice of Default notices and Foreclosures notices and Short Sales listing are a function of not only making more calls, but of getting more listings from the prospects you do call on. Prospecting Notice of Defaults and the homes in foreclosure chould be the lifeblood of real estate agents.
Listings that result from prospecting Notice of Default filings and prospecting short sale listings and Bank foreclosures will not come to you, "you" must go to them. You have to find a way to contact the prospect who has received a Notice of Default notice which subsecquently may result in a Short Sale listing.
A certain number of foreclosures and short sales and bank foreclosures may find their way to you through other marketing methods but a vast number remain in the hands of the competition.
If you lack the capacity to reach the homeowner who receives a Notice of Default or who may be elgible for Short Sale mortgage reduction and then gets a foreclosure notice, you will remain on the sidelines while others get their business. You are held hostage by not establishing yourself as capable of prospecting the Notice of Default filings and Short sale mortgage mitigation.
It's an expensive proposition to depend on passive methods to reach Notice of Default filings and the resulting Short Sale loan reduction.
If you don't prospect Notice of Default filings and Short sale listings and Foreclosure notices, you get stagnant and lose your edge. Inevitably your listing inventory and subsequently you sales will go down the longer you are away from prospecting Notice of Default filings and Short sale listings.
If you don't at least call the Notice of Default filing and the resulting Short Sale, you can't possibly get the listing. It goes without saying that if you're out of prospects you're out of business. Prospecting the Notice of Defaults filings and Short Sale mortgage modifications will keep you in business during these tough times.
Someone must talk to a prospect who receives a Notice of Default to get the business of a homeowner who has received a foreclosure notice. You must offer foreclosure assistance you must offer Short sale loan modification to be credible.
The closer you are to being that "someone" offering foreclosure assistance and short sale assistance, the more valuable you become. If you are responsible for obtaining new business then everyone else owes you a debt of gratitude.
The wheels of industry will turn with us or without us. You must be on the racetrack to compete and win especially when giving Notice of Default assistance and Short Sale assistance and giving foreclosure assistance. You won’t get all the business but you’ll get your share as long as you try.
At present, in 2009, the bank foreclosures and foreclosure notices and Short Sale assistance are the lifeblood of salespeople. Right now, is the most important activity for getting listings in the United States is following the Notice Of Default filings and Foreclosure notices which result in the Short Sale listing.
Success rule number one in prospecting bank foreclosures and prospecting Short Sales and prospecting Notice of Defaults is to meet the prospect "in person." It goes without saying that you must meet the prospect in order for a person to do business with you.
There's no substitute for getting out and meeting people that receive a Notice of Default filing that result in a Short Sale listing. It’s easy to fall into the trap of putting things off, thinking that you can make up for lost time by just making more calls tomorrow.
Remember, “Today is that tomorrow that you were going to do so much about yesterday.” When you call on a Notice of Defaul listing or a Foreclosure listing and are told that your competitor just got their business, you’ll realize how important it is to be persistent.
Salespeople should know how many calls are "normal" to get a new Notice of Default filing or home in foreclosure notice to meet with you. Real estate agents may experience a lengthy lead time for getting the prospects present home sold and an equally long time to find another. From there it's a matter of establishing a ratio of how many calls it takes to make sales presentation. The ratio of prospects who list with you can then be established.
The majority of salesperson’s give-up at some point, usually sooner rather then later when it comes to calling on a home in foreclosure or a home with a Notice of Default.
Everything including homes in foreclosure depends on a Real estate sales person prospecting by making contact by telephone contact or in person. It’s a basic assumption in real estate prospecting that all real estate agents want more sales. We’re all in the business of selling something.
A Real estate brokers business won't exist without someone attempting to reach a new potential prospect who has received a Notice of Default. Going back a step, you can generally trace the origins of every current customer and account to someone prospecting the homeowner.
The revenues from prospecting pays everyone's salary and provides their entire livelihood. Only those who don’t have to prospect for a living have a hard time understanding why you should invest in a product such as a foreclosure script and Notice of Default script and an Expired listing script that will increase production.
Yor're future job security is a stake. Everyone would like to take it easy and coast once in awhile. That's just not possible with a Notice of Default or a bank foreclosure that has a life expectancy of 90 days.
Hard is it may sound, prospecting "now" will provide your business with customers in the future. Your future job security rests on the prospecting you do today. Going without a foreclosure script or Expired listing script may put you out of the running.
The Notice of Default soon becomes a foreclosure home and eventually a bank owned home. And the foreclosure notice of today will be bank owned home in three to six months.
Every business has a different period of time that prospects turns into customers. It may be sooner or later, but the time will come when any gap in prospecting will show up because Notice of Default and foreclosures are occurring dailey. The Notice Of Default listing will result in a Short Sale listing that subsequently results in a foreclosure listing.
Notice of Default homes and Short Sales homes and bank owned homes are not going to go away anytime soon. Foreclosure help and Short Sale assistance is needed now!.
A savy real estate business will always need salespeople who prospect using Notice of Default scripts and Foreclosure scripts.
Now that Notice of Default home listings and bank owned homes are so important, salespeople are in a position to help more than ever.