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Old 01-18-2010, 11:48 PM
 
Location: Los Angeles
42 posts, read 118,303 times
Reputation: 29

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Have any agents here gone doorknocking specifically targetting properties with negative equity or positive equity once they have defaulted on their loans?

I am trying to get scripts for both of these situations. For the negative equity we can help the homeowner by doing a short sale for them, so what is the best way to tell them this?

Is it best to tell them we found the information out through the public record? Is there a more subtle and less agressive way of telling them this?

For the ones with positive equity we can tell them we have a buyer and we can buy in cash and close in 10 days. Or we can do an equity sale. Are there any suggestions on scripts for approaching this?

Have you yourself done this? How were the results?
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Old 01-19-2010, 01:31 AM
 
Location: Huntington, NY
7,738 posts, read 10,854,424 times
Reputation: 3481
Quote:
Originally Posted by armenh View Post
Have any agents here gone doorknocking specifically targetting properties with negative equity or positive equity once they have defaulted on their loans?

I am trying to get scripts for both of these situations. For the negative equity we can help the homeowner by doing a short sale for them, so what is the best way to tell them this?

Is it best to tell them we found the information out through the public record? Is there a more subtle and less agressive way of telling them this?

For the ones with positive equity we can tell them we have a buyer and we can buy in cash and close in 10 days. Or we can do an equity sale. Are there any suggestions on scripts for approaching this?

Have you yourself done this? How were the results?
How about asking them if they know anyone/any neighbor who could use your help and leave some information? Telling them you know their situation could be embarrassing for them or turn them off.

I'm about to try this myself...
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Old 01-19-2010, 08:46 AM
 
Location: Hermoso y tranquilo Panamá
11,856 posts, read 5,665,201 times
Reputation: 46795
Quote:
Originally Posted by Elke Mariotti View Post
How about asking them if they know anyone/any neighbor who could use your help and leave some information? Telling them you know their situation could be embarrassing for them or turn them off.

I'm about to try this myself...
Excellent advice, Elke. Now when I practiced in the States, I never did the door knocking thing. I would though slide under front door or put between door jam/door say a flyer letting them know the different ways I could assist them. But when I was a newbie I heard too many horror stories of people being ticked off at agents just showing up at their door, so when i went to farm an area I did it that way. If just general farming would maybe do something seasonal like a card, calendar etc., but since you and the OP are both looking at targeting specific groups of individuals, maybe pass around the same type of information to everyone in that area and then the people who really do need help won't be embarrassed; plus, who knows? Maybe say a neighbor is one step short of being in a bad situation who gets your flyer and goes 'man I really needed this right now' and that person wasn't even on your list.

And when I say flyer, of course I mean high quality paper, color, details well written, etc. I'll be interested to hear what kind of response you get by door knocking - guess I was a woose lol 'cause after other agents told me some of their experiences, I found other ways to get out the info but not have a pitch fork thrown at me

PS good for you all for thinking out of the box and being 'proactive'.
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Old 01-19-2010, 04:05 PM
 
Location: Columbia, SC
7,033 posts, read 11,161,829 times
Reputation: 3555
Quote:
Originally Posted by Elke Mariotti View Post
How about asking them if they know anyone/any neighbor who could use your help and leave some information? Telling them you know their situation could be embarrassing for them or turn them off.

I'm about to try this myself...
I disagree. Might as well not beat around the bush. The biggest problem you have with people in that situation is they've already been fighting off lender calls and probably other people offering help. They aren't ignorant to the situation by now. Tell them who you, what you do, and ask if they could avoid foreclosure and it didn't cost them anything to try would they be interested. A handwritten note is more likely to be read by them than printed fliers.
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Old 01-19-2010, 04:21 PM
 
Location: Cary, NC
19,691 posts, read 31,496,365 times
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When I knock doors I just say, "Have you considered the cost if your soul is lost? I have some valuable information I'd like to share with you."
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Old 01-19-2010, 04:48 PM
 
Location: Lead/Deadwood, SD
895 posts, read 1,403,263 times
Reputation: 751
I will not lie or mislead people to get there business, nor will I tell them my intentions are different than they are. Simply ask them if they would like your assistance tell them what you do - and depending on which way the conversation goes would dictate my pitch to follow, more than likely you should have close to half a dozen pitches - Maybe try CMA door packets and DON'T put them on only the distressed owners door, hit the whole block - I live in a small area, if I went door to door seeking listings only for properties from people that were facing foreclosure, regardless of my intentions my name would turn to mud after the first half dozen or so - I would rightfully be looked at as a bottom feeder.
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Old 01-19-2010, 06:04 PM
Status: "It's 5 o'clock somewhere." (set 23 days ago)
 
Location: Mountain Ranch, CA The heart of Calaveras County
6,175 posts, read 11,595,668 times
Reputation: 4950
By all means use a script, because that way you won't be forced to listen to anyone or their situation, which might then be actually useful to them.
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Old 01-19-2010, 07:03 PM
 
Location: Salem, OR
10,993 posts, read 18,889,531 times
Reputation: 6945
Quote:
Originally Posted by MikeJaquish View Post
When I knock doors I just say, "Have you considered the cost if your soul is lost? I have some valuable information I'd like to share with you."

Does it come with information on how to get to those pearly gates? 'cause the folks that seem to knock on my door seem think I'm missing my chances.
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Old 01-19-2010, 07:06 PM
 
Location: Salem, OR
10,993 posts, read 18,889,531 times
Reputation: 6945
Quote:
Originally Posted by DMenscha View Post
By all means use a script, because that way you won't be forced to listen to anyone or their situation, which might then be actually useful to them.

You know I have a friend who is an agent whose hubby lost his job as the market tanked. They went into default (but were able to get back on track and not lose the house) and she said she had about 15 people knock on her door, about 100 letters and several cards and such left at the door/send via mail.

She is in a tiny town. She said about 3/4 of those folks seemed slimy. So that is what you are up against. She said only one person that knocked on her door seemed legit. The rest, she thought were slimy.

So...long story short. Scripts probably aren't going to help you. Being genuine will.
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Old 01-20-2010, 01:04 PM
 
Location: Illinois
718 posts, read 1,142,712 times
Reputation: 949
Realtors always talk about this being a "profession"...or "professional this and professional that"....and then they "door knock" for business. My CPA does not door knock, neither does my dentist or physician or attorney...but the "pizza guy" does. Why perpetuate the myth people already have of realtors.
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