Short sales are a large portion of the market. With many sellers running into challenges from job loss to adjustable rate mortgages there are a number of homeowners in would like of help and they do not grasp where to turn.
To reach these home owners needs the right strategy and ways and unfortunately many real estate agents make tragic mistakes that forestall them from reaching the house owners who need the foremost help.
Think about avoiding the following pitfalls when you are pursuing short sale homeowners.
1. No marketing message – A marketing message offers a seller prospect a clear and concise reason to pick up the phone and call you for help. Short sale home owners are in a totally different place than most individuals and as a result they need a promotional message that speaks to them. Most agents begin targeting sellers with no thought of “why” a house owner should call them. If you think that someone should call you because you’re “honest” and “helpful” then you will not be obtaining any calls.
2. Not mailing enough – Sending 100 items of mail and then complaining that you just didn’t get any calls will not get you to the extent of taking 10 or 20 listings monthly. To require enough short sale listings it’s imperative to mail consistently and to enough people thus you can see if your mailings are working. Take into account sending no less than five hundred items and have a plan that spans a minimum of 6-12 different mail items for those 500 people. That can provide you an idea if your promotion is working.
3. Not sending a variety of mailings – Each market is completely different and sellers in your area might be a lot responsive to postcards or letters, but you will not apprehend until you test. Sorting out what your market can reply to needs sending each powerful postcards and letters. Track when you send every mail piece to find out where you’ll get the most important results.
4. Not having a dedicated website – Several agents send powerful direct mail and even have nice pay per click campaigns with traffic being sent to a generic real estate site. This leads to lack luster results and most agents scratching their heads to find out what’s going wrong. Consider having a focused website that speaks to the challenges of a short sale prospect.
5. Lack of follow up – Calling or emailing a prospect one time will not cut it. Follow up ought to be consistent and automatic to confirm that you give prospects the most effective chance to reach you. As an example a simple email follow up ought to last a minimum of 45 days to get the foremost from your marketing.
When you’ll be able to avoid these prime mistakes you may give yourself the best opportunity to take short sales monthly. You will not be ready to avoid each mistake; but, simply knowing the above and putting an arrangement in action to get around them will keep you ahead of your competition and taking short sale listings quickly.
Another great article by Maitland Real Estate
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