Posted by Houserookie on June 28, 2003 at 18:29:58:
Redline, well…this discussion has gone too far. I don’t take offense at anyone, or you. Life is really too short to sit and stress to death. I’m not the brightest guy and I know this. Everything I’ve learned, I learned from someone else.
On the mortgage info. Sorry, I can’t factor the laws in all 50 states. If you feel a need to ad fact, then do it.
From now on, I’ll just add a disclaimer to everything I say. “…subject to your state law which can
also vary by legislative session.”
The FTC now has a national DO NOT CALL list where people can register their phone numbers. This will essentially make them off limits to telemarketers and the like. There seems to be very few exceptions. NJ has it’s own law, which goes even further.
Does anyone know more about it and how it will hinder our ability to, say … “cold call” people in preforclosure to offer our services? If I am reading this right, it would become illegal if they were registered.
I haven’t read the law. I don’t plan on reading the law. I only make a couple of cold calls a month. I only do this when I want to BUY a house. I don’t see how this could be constured as marketing, or a sales pitch, since I am not selling anything. So I am not going to worry about.
This fact sheet says that “surveyors” which I am sure means those looking for information to compile can call. It doesn’t say anything about the info being used later for something else, like a targeted letter. Could that be a loophole?
Two things if I am observing right. One, everything I read deals with interstate calls NOT intrastate calls and two, EVERYONE is allowed to call between 8am and 9pm (when you would probably call anyway) as long as you indentify you are selling something. I guess you could create a script in such a way that would cover you without coming right out and saying that. Also, for those that have access to Haines or other CD based RE info, at least with Haines Criss Cross they include the National do not call people in their database. So, you can always use that.
It seems that any investor who calls someone in preforclosure is now violating federal law (if they have registered in the DoNotCall database) and is subject to an $11,000 fine per call.
I’ve read the messages below, and calling to “provide help” or “following up on a letter you sent” doesn’t seem valid. It sounds like if someone wanted to take you to task, this could be costly.
This sucks for anybody who wants to be proactive in the business and do calling to preforclosures that maybe they didn’t get a chance to knock at. I’d love for someone to tell me I’m wrong.
I call people in pre-foreclosure to help them. As the previous poster said if you call them to help them their should not be a problem. You are offering to help them for free, if they argue, just remind them they are going into foreclosure and you are their to save their ass.
If they dont want help, and it is a nice house with good comps, etc. I will get my partner ready and we will pick the house up at auction. Business is business, and I have not had many problems other than people being in denial when I call them. However, I am following up to a letter that is sent out to them. Most of the time thses get thrown away unopened. I am just calling to offer my help.
Re: National DO NOT CALL List … - Posted by Houserookie
Posted by Houserookie on June 27, 2003 at 17:38:50:
Redline,
We’ve discussed this topic in the past. Basically,
the penalty can be up to $10,000 per violation. The best solution is to have “them” call you. Provide callers with valuable information and capture their contact information. If they call you first, then you have a right to call them back with more info.
I don’t call anyone in preforeclosure offering to sell them anything. Instead I either call to help them (I may put them in contact with a mortgage broker for no fee) or I offer to buy their asset (house). I don’t see how this would violate the law.
How do I get on this list? I got a good one the other day. Some guy calls and says, “we sell children’s books and just want to make sure you have children in your household under five years old.” Sure thing pervert! I innocently said, “no, someone’s given you wrong information sir, my wife and I don’t have any kids”.
Hmmm, I just thought of something. Maybe this could be good for the direct mail industry (which I am in now) if they can’t cold call, maybe they will do more direct marketing. That would be nice for some of us.
A local TGI Fridays (about 3 miles away) sent a sales team recently door to door in my neighborhood to show their new menu, take a survey and give out coupons.
“EVERYONE is allowed to call between 8am and 9pm (when you would probably call anyway) as long as you indentify you are selling something.”
Incorrect. If they are NOT registered then you must call between these times (as per usual). If they ARE registered there is no calls, with a few exceptions.
I posted below, but I started to think about this and I think all ya’ll are wrong. I’m open to debate.
Here’s my reasoning.
When I’m sitting at dinner, and the pesky telemarketers call, they are calling to sell me a product or service. Key word: sell.
When you call the preforeclosure person, you aren’t telemarketing. You aren’t trying to sell. You are looking to buy.
Think about it. There’s a big difference between the two. Big difference. I’m comfortable going to the judge saying, Your honor, I thought the guy might be interested in selling, so I used the most common means of human communication, the phone." This is totally different from Sprint, Papa Johns, etc. They are calling for customers. You are calling to buy something this guy might have for sale. It’s not the same thing. While he may still get irked, like with the telemarketers, the intention is not the same. You reasonably thought the guy might have something to sell, so you called. That’s totally different from soliciting a customer.
>> I’ve read the messages below, and calling to “provide help” or “following up on a letter you sent” doesn’t seem valid.
Absolutely correct, no one is calling to “help” unless it’s the local church. These guys are calling to make money from the homeowner. If you call about my $100,000 house that I owe $60,000 on, and I deed it to you, then you made $40,000 on that call. I mean, ANY sales person could say they are calling to “help” the recipient. Yes, they would be much happier with new siding, or a new car or a new whatever. Wasn’t it nice of me to “help” them?
Secondly the mailing of a letter does not constitute a “business” relationship, so a follow up to the letter is not valid.
The TSR applies to any plan, program or campaign to sell goods or services through interstate phone calls. This includes telemarketers who solicit consumers, often on behalf of third party sellers. It also includes sellers who provide, offer to provide, or arrange to provide goods or services to consumers in exchange for payment.
Notice is says “Interstate Phone Calls” …
I live in the Miami area, and the closest “Interstate Phone Call” I could make would be to Alabama, and I have no intention of working foreclosures up there.
Most of should be safe restricting calls to our own state, at least as far as the Federal list is concerned. If you have a state list, that is a whole different story.