Real estate has defiantly been slow here in Indiana. The only thing that seems to be moving are distressed sales. So in an effort to keep my business steady I am trying to work with short sale listings. I have done a lot of them in the past and I know there is a great need for them. The problem I have run into is that most people who are in need to don't know what to do and stick their head in the sand.
So, how do we prospect for people who have to sell their homes but have no equity to do so or are currently delinquent don't realize there is a better answer than foreclosure?
I have run an ad in the Real Estate & Homes Mag and have had no results from that.
My newest thing is sending letters to mortgage brokers soliciting business from them. My letter basically talks about how the lending market has changed and how there are a lot of people out there who have ARMS that are adjusting and they don't qualify to refinance their home. Unfortunately these people can no longer afford the payment and have no equity to sell. What do they do?
I ask the mortgage brokers to send these people to me and I ask them to participate in the marketing of the home by providing rate sheets and a yard sign. I tell them I will send all purchase leads I get from that listing to them (as an incentive to send me leads).
I am now working on a post card to send out to starter neighborhoods, where I see a lot of foreclosures/short sales. Hopefully this proves to be profitable.
Well I want to see what everyone else is doing to get Short Sale leads. What is the most effective marketing to do? If anyone is interested in my postcards or letters, I am happy to share.