★★★ Talking To Distressed Homeowners

You should have a script prepared when communicating with Distressed Homeowners:

Script when calling or knocking on the door of  Distressed Homeowners 30-60-90 days late on their mortgage payment.

Drawing from our experience with what has worked well for other agents and convinced in the “soft sell approach”, here is a script you can use when knocking on the doors of Distressed Homeowners reported 30-60-90 days late on our Pre-NODs mortgage lates.

“Hi my name is _________ with _________. Recently, I have help several families in the neighborhood who were upside down in their mortgage resolve numerous financial issues concerning their home. Our records show your home is upside down, is there anything I can do to assist you about your home? Do you know anybody who could use my services? Here’s my card, don’t hesitate to call me if you have any questions”.

“Good morning. I’m ______ with ______. I specialize in assisting homeowners who may be facing difficult issues. Is having help delaying or stopping foreclosure a service that any of your neighbors or friends may want? You may know somebody”.

“I’m a neighborhood real estate and distressed homeowner expert. I offer ethical and compassionate solutions to problems with real estate loans. If you know anyone, co-worker, family member, friend, someone in the gym, that owes more on their house than what it’s worth or is having a hard time making their mortgage payment, please have them contact me”.

“It’s not about me, I hope you (or they) call me, Thanks for your time, Mr. Homeowner”.

At CDLData.com, we provide early, accurate and exclusive Pre-NOD or PRE-Foreclosure data on Distressed Homeowners before their hardship reaches any public file.

Having a Script Prepared:

When you are face-to-face with a distressed homeowner, your goal is to make an emotional connection. In theater, all actors are scripted because they are trying to build emotional excitement with the audience. In the same way, you should have a script prepared instead of “winging it.” You have a small window of opportunity to introduce yourself as someone that genuinely cares about their plight. Many realtors and investors mistakenly blurt the first words out of their mouths in a pre-foreclosure deal and never recover.

Based on the feedback we’ve received from clients that deliver their message of hope and solutions in person, the soft sell approach works well. Armed with our early, accurate and exclusive Pre-NOD and Pre-Foreclosure data, you will know exactly which homeowners in your area are falling behind on their mortgage payment. Yet you should not profess any inside knowledge that the homeowner is struggling to make their payment. Rather, you should present yourself as a neighborhood real estate expert that is canvassing the block. Here is some sample verbiage to use when delivering your message of hope and solutions in person to position themselves as a neighborhood short sale expert:

“Hi, Mrs. Homeowner, my name is ________, I’m a local real estate expert, hopefully I’m not interrupting dinner, I’ll be real quick. I’m not sure if this applies to you, but I know you know someone. I provide ethical and compassionate solutions to problems with real estate loans. If you know someone that is struggling to make their house payments, or they owe more on their house than what it’s worth, I can help. So, I’ll let you go, just want to get this in your hands (pass a flyer or door hanger) – if you know a friend, family member, co-worker, neighbor, please tell them to go to the website on here, to learn more about some options they have to get from underneath their homes, help their family, and save their credit. Thanks for your time Mrs. Jones, enjoy the rest of your evening.”

Getting your foot in the door… literally.

There is nothing more personal than door knocking.

How many ads can pull a football fanatic out of his chair, during an exciting football game, to see or hear your advertisement? The answer is none. One-on-one door knocking is powerful and effective because it delivers your message face-to-face. No other marketing medium has that impact. “We have only one shot at these homeowners,” says a Century 21 broker in Southern California. “And we don’t want to blow it.” Several clients report phenomenal success with taking the personal approach by knocking on the door of a distressed borrower to deliver the message of hope and options, yet you shouldn’t walk up the steps unprepared.

Sample letter to send to Distressed Homeowners

Here is an introductory letter I came across that offers solutions to problems with real estate loans. I like it because there are no bells and whistles – it’s straight down the middle. This person portrays them self as an adviser with several options on the table. I think it is much better to educate homeowners on the array of options available to them (forbearance, refinance, Deed In Lieu of Foreclosure, etc ) than to only pitch a short sale, because the message you send is that you have the homeowners best interest in mind. It can’t be emphasized enough – before a homeowner allows you to work with the lender, they have to trust you.

As I explained in an earlier post, repetition produces the best results when offering your help to homeowners that have defaulted on their mortgage payment. If the first letter doesn’t generate a response, a second and third letter is in order. Subsequent letters should escalate in tone and urgency by explaining the consequences of doing nothing, and stress the magnitude of what the homeowner will experience if they chose to go into hiding.

Sample Letter

Dear Homeowner Name,

Your Name

At CDLData.com, we provide early, accurate and exclusive Pre-NOD and Pre-Foreclosure data on Distressed Homeowners that need your help. If you found this post informative, follow us on Twitter @ consumerdata