★★★ Talking To Distressed Homeowners
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.
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 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, courtesy of Chris Sylvada, the founder of Simple Listing Solutions, a turn-key marketing system for REALTORS to position themselves as a neighborhood short sale expert:
“Hi, Mrs. Jones, 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.”
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.
My name is _______. Please do not be embarrassed, but I offer ethical and compassionate solutions to problems with real estate loans. My initial consultant is free. I can often refer you to other pre screened, ethical professionals in the fields of refinance, bankruptcy, or credit management.
Other times, I might be able to arrange for a quick and discreet sale and leaseback of your property, allowing you to preserve your credit, your reputation, and your day-to-day affairs. In some instances, people want to sell their property and make a clean break – moving some place else in order to begin building better times and better memories.
Whatever your goals, you can rest assured that I am not just another opportunist trying to make money at your expense. If I can help, and we can both come out ahead, then we need to work together. If I can’t help, then I can save you lots of time and anguish by referring you to people who can assist you.
Please take that first step of putting yourself back in charge of your life – contact me for some additional information and possibly a personal consultation.
At www.cdldata.com, we provide early, accurate and exclusive pre foreclosure data on homeowners that need your help. If you found this post informative, follow us on Twitter @ consumerdata
“Hey Homeowner, this is ****** calling with ****** about a property at _______. The reason for the call is that it looks like that property is scheduled for Mortgage Sale in the next few months. I was just calling to see if you had any interest in selling it before that point, or if you had taken care of the mortgage.”
If they say they have it taken care of, always ask..
“So it’s no longer going to be foreclosed on..?”
Just to be sure that they aren’t just trying to get rid of you.
If they ask how you got the info that it was scheduled for Mortgage Sale, just tell them it’s on public record (it will be public record by whichever city is selling it).
If they are interested, ask them roundabout how much they owe on the property, just so you can make sure it’s worth it to pursue. Just for verification!
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