PRE-FORECLOSURE BLUES - HELP! - Posted by jerry

import · July 15, 2002, 11:44pm

Posted by al on July 16, 2002 at 10:12:50:

Hey Jerry

To simply answer your question, there is no ‘proper’ way to approach, other than to contact them ANY way you can.

I know some people who strictly drive to homes and then there are some who strictly call OR write. But to ensure the best results -DO IT ALL.

I work a few counties and to drive to them all would be a bit much (since I work full-time and have a family). So I either call or write them. And the surrounding counties I’ll take the time to visit personally (AND write and call if need be)

If you want to find really motivated sellers, try contacting the people on your list that have a trustee sale date set - they’re at the last stage of the pre-foreclosure stage and are probably a little bit more motivated

hope this helps!

Al

import · July 15, 2002, 11:44pm

PRE-FORECLOSURE BLUES - HELP! - Posted by jerry

Posted by jerry on July 15, 2002 at 23:44:27:

So I pay my money for a pre-foreclosure list. I get the list daily with the day’s new cases. It’s the newest info as soon as the case is filed by the lender. I didn’t start working the list right away because I was still in the midst of learning enough to make me comfortable with calling them. I let the list sit for a month (knowing full well that some names were getting stale) and then started gathering the phone numbers of those properties in areas where I have interest. I figured that by waiting like this, I’d be talking first to the oldest ones who may be closer to the sale (auction) date, then moving toward the more current ones who are still shell-shocked finding out that their home is being foreclosed on. In this way, I would be getting educated about the various responses from each group.

After getting almost all of the numbers in my target area, I began phoning them. I try to sound like a neighbor: “Mr. Jones? Hi, my name is Jerry Smith and I live over in NextTown. I’m calling in the hopes that I can help you stop your foreclosure and buy your home. Is there a chance we might talk about that? I pay cash and we could close in a week if you’d like.” If that sounds terribly clumsy, please don’t throw tomatoes. It FEELS clumsy. I’m getting a pretty consistent spread of: 1. It’s been taken care of, 2. We refinanced, 3. Thanks, not interested, 4. Phone disconnected, 5. Listed it with a realtor.

I’m realizing that I don’t know what the heck I’m doing. Some people I’ve spoken with believe strictly in knocking on the door. Is this the only right way? It’s hard for me to believe that there isn’t an effective way of prospecting off of these lists by telephone. I hate to think I’m wasting this resource, although I’m accepting my failure as temporary since I needed the experience of breaking the ice and starting to talk to real human beings anyway.

So my question to the experienced folks in our esteemed group is: What is the proper approach? Is there a script for calling pre-foreclosures that is effective? Thanks for your help.

import · July 17, 2002, 10:46am

Not to say that this won’t work, but - Posted by JT-IN

Posted by JT-IN on July 17, 2002 at 10:46:42:

Jerry:

Your best approach by far is to knock on the door…

These folks will get lots of mail… that will go unopened, in most cases. The only way you will know that they got your message is to be face to face with them. Now, does this work every time, no… but it works far better than the postman does.

You must be realistic… working Pre-f’s are not for evryone; in fact, I really don’t like it myself. But, I am in the foreclosure business, so it is part of it. Whenever I work with someone new, and we drive around to look at these houses, they are amazed at how I have no reservation of walking up and knocking on the door. It is just something that you need to get comfortable with… Now what do I say…? Not much, certainly no lightning phrases, mostly just Hi, I stopped by to see if I can help you out of this problem that has developed… Sometimes, in fact most times, they will tell you a cock and bull story of how it is all taken care of, etc. ic an usually tell if it is bull, or straight. But none the less, you won’t get them all; but leave a card in their hand, be pleasant, and maybe they call you…

I might mention as we talk one or two ways that I have been able to help Joe and Mary over on Main St. that had a similar problem… Sometimes this “similar situation” stories will break down the barrier, as they realize that you have done this before, and maybe they are not unique…

Just the way that I view things…

JT-IN

BTW: If I were going to do mailers, I would use postcards, as on their way back from the mailbox, at least you have a shot that they might get your message… enroute to the trash can. LOL

import · July 16, 2002, 5:23pm

Re: PRE-FORECLOSURE BLUES - HELP! - Posted by Winston, CT

Posted by Winston, CT on July 16, 2002 at 17:23:46:

Congrats on doing something! I like your approach. Most people just read and talk about what iffs. I like your approach. Just say “get a pen”, leave your name number and remind them you can help fast, as these may call you back when they get desperate enough once reality sets.