PROSPECTING FORECLOSURES.
IT STARTS WITH THE NOTICE OF DEFAULT.
The prospecting process starts as a result of the homeowner receiving a Notice of Default. It is a legal notice filed with the county of records declaring that (usually) three payments have not been made and that the lender intends to force the homeowner to forfeit the property. Obviously making a prospecting call to the homeowner is the next step.
Even though making contact is difficult because the homeowners are embarrassed and do not want to talk to anyone about the problem, a sales script would help you. Quite some time before a the sellers received a Notice of Default, there are telltale signs that the sellers are in trouble. The lawn shows signs of neglect and maintainance if often deferred.
3 MONTHS TO SELL THE HOME.
You only have the opportunity to sell the property for 3 months (6 months in some states) from the time the owner receives a notice of default. The clock begins to run. The advantages of having the listing is that you have the inside track with the bank or lender because you should have had contact with them during the time that the mortgage was in default.
HOW DO I KNOW WHO TO CALL.
There are many sources of getting a list of the Notice of Default for a given area. Title companies have been a mainstay for receiving information about them. Try to get them as they are published because it becomes a foot race to see who gets there first.
A LIST OF FORECLOSURED PROPERTIES.
When a home goes from it’s owner to a foreclosed property owned by the bank, a list of foreclosure is the next go around for the real estate agent.
DIFFERENT KIND OF PROSPECTING
There is an entirely different set of procedures for prospecting the lenders and banks. It is closer to a “Business to Business” script in that you will be dealing with different departments, managers, assigned personnel and the secretaries of each.
A PROFESSIONAL SCRIPT.
Does there exist a professional script that I can buy that will help? We just happen to have a company that provides them.
There is a script for real estate agents called “Smooth-talker for Notice of Default / Foreclosure.” There is also a script called “Smooth-talker for Business to Business” which will work until we can produce a specialized script, “Prospecting Lenders and Banks.”
CHECK US OUT.
Our web site is: www.smooth-talker.com There is a dash, “-” between smooth and talker. More to follow.
Comments