Use These Tools: Short Sale Prospecting

By James Dingman

I know, I know:  you hate Short Sales.  They are unpredictable and frustrating to say the least.  But, the reality is almost every REALTOR hates Short Sales . . . and that’s what makes them such a great opportunity.

Mike Ferry, the great real estate trainer and motivator, used to talk about the 180 degree theory of real estate sales success:  find out what everyone else is doing and do the opposite.  He’d probably agree that in a world where agents hate Short Sales, the smart thing to do is to specialize in them.

It’s a good fit for Help-U-Sell, too.  After all, our whole program is built around helping people solve their real estate problems in a way that saves them money.  Who better to help today than the homeowner who, through no fault of his or her own, is upside down and desperate for an answer?

It’s that kind of thinking that’s led Dan Desmond, Robin Rowland, Marty Castro and so many other sharp Help-U-Sell Brokers to take courses, revise marketing materials and gear up to go after this growing niche in their local real estate market.  If market trends and history mean anything, that’s a smart strategy most of us should adopt.

A couple of weeks ago, on the Tuesday Broker Roundtable call, Ken Kopcho shared a flyer a competitor was using in his marketplace to solicit Short Sale listings.  This Broker created the flyer in English on one side, Spanish on the other, put them into plastic door knob hangers and had them delivered in target neighborhoods around town.  Ken reported a noticeable spike in the competitor’s listing inventory.

Ken Faxed me the flyer and I wordsmithed it a little and have reproduced it below.  If Short Sales are a significant part of your market, why not use this bit of verbiage to begin a prospecting campaign for these special listings?  You could use this to create door hangers as originally done or convert it to postcards or even telephone dialogue.  Whatever you do, I’d love to hear how it works for you.

Dear Neighbor,

Many homeowners in today’s market have little or no equity; that is, they owe more in mortgage debt than their property is worth.  In these situations, lenders may accept less than the full amount due when the property is sold – a practice that is commonly known as a Short Sale.   Today, more than ever before, you may be able to take advantage of this option.

My company has been negotiating between 10 and 20 Short Sales a month.  We will negotiate with your lender to accept less than the amount owed and forgive the difference.

I am convinced that, with our approach, we can help you sell your home.  With a Short Sale, you can basically list your home for FREE, since my fee is paid by the lender – all the while protecting your credit rating!

If you find yourself behind on your payments or owing more than your home is worth, complete the following questionnaire and call me TODAY at XXX-XXX-XXXX.  You may also email me at XXXX@XXXX.com or Fax the form to XXX-XXX-XXXX.

****

(English)

Quick Short Sale Survey Form

Property Address _____________________________________

Are you behind or struggling to make your mortgage payments? Yes     No

Do you NEED to sell this home?     Yes     No

Do you owe more on your home than it is worth?     Yes     No

Are you living in the property now?     Yes     No

Additional Information  _____________________________________

Call XXX-XXX-XXXX or email this survey to XXXX@XXX.com or fax to XXX-XXX-XXXX

For more information, call me today.

Sincerely

J. Sellingman

Listing and Foreclosure Specialist

****

(Spanish)

Quieridos Duenos de Casa

Muchos propiedades in el mercado de hoy tienen poca o ninguna equidad; es decir el vendedor debe cerca de o más que la propiedad merece.  En estas situaciones, los bancos pueden aceptar menos que la cantidad llena debida, comúnmente conocido como “una Venta Corta.”  Ahora más que alguna vez, usted puede aprovechar esta opción.

Nuestra oficina hace ventas cortas con un promedio de 10-20 mensuales.  Negociaremos con su prestamista para aceptar menos que la cantidad debida y perdonar la diferencia.

Soy convencido que, con nuestro programa, podemos ayudarle a vender su casa.  Con una Venta Cort, usted puede poner básicamente su casa en la marketa gratis, ya los costos son pagados por el prstamista Y mentras co proteccion de su credito!

Si usted se encuentra detras en sus pagos o debido más que su casa merece llene el cuestionario abajo y me llman HOY al XXX-XXX-XXXX or correo electronico, XXX@XXX.comor numero de fax al XXX-XXX-XXXX.

****

Cuestionario de Venta Corta

Dirección de propiedad:______________________________

Esta Retrasado o batallando para complir con su pago de casa?    Si     No

NECESITA vender su casa?     Si     No

Se debe mas que el valor de su casa?     Si     No

Vive usted en esta propiedad?     Si      No

Informacion Adictional: _____________________________

Para mas informacion llame al XXX-XXX-XXXX

Sinceramente,

 

J.Negocios

Especialista de Venta Corta

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