Do you want to get into the foreclosure business?

By
Real Estate Agent with Godzyk Real Estate Services

Once again this morning, sure enough at 830am sharp the phone rings with soemone trying to solicit my foreclsoure business. They want to clean them, maintain them, plow snow, change locks and make repairs.


As far as contractors...there is nothing worst than an unprepared person calling me or coming into my office looking for work. I wanted to write this to give not only people in NH but throughout the USA tips of what banks and what agents look for when looking for people to complete work.
________________________

The first step is to make sure your business is registered and you have obtained liability insurance. (most brokers will not hire individuals, only real businesses)

You should then look up to see who the leading agents are that handle bank owned homes in your area. Then go see them. Make sure you are dressed neat and presentable. Bring a business card and brochure of what you can do.

Do not sit and call every real estate agent in your area. Agents want to put faces with voices and what they can offer. If you cold call all you will do is get "im all set" over and over.

Offer free estimates on short notice.

Give them a below market price to attract more customers

Complete the job within the deadlines you are given

Do a great job, better than average (over and above)

Once an agent finds a good worker, chances are they should come back again to you  when they have more work.

You can also drive through the areas and look for overgrown yards with real estate signs, offer to meet the agent and give them a free estimate.

The hardest way is looking towards national preservation companies, you will have to go through an application period. They are very strict and pay less than working direct with agents.
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A couple of big no no's

Do not take anything form homes when giving estimates

Do not ask if you can take anything for the homes.

If you get the cleanout job, you can do what you want when you remove everything, dont risk this job or any further work by wanting to grab some lawn chairs or an old tv.

When meeting with agents be clean, smell nice, be respective and use pleasnt language. You want to be professional to be treated professional.

_____________________

I am sure other agents have alot they can add, please leave all your comments on this subject.

Updated Feb. 9, 2011

 

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Rainmaker
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Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID

So true Scott!   It is like anything ....treat it like a business above all!   I know times are rough but being clean and neat doesn't cost much....no matter what type of a business you are in!

February 09, 2011 08:48 AM #1
Rainer
33,044
Terry Bishop
RE/MAX Excalibur - Tucson, AZ

People think they can make a lot of money doing this, and with the unemployment situation as it is, many people believe this is an "easy way" to earn money.  Many people honestly do not realize the requirements needed for the "clean up" and when they do, i.e. licensing, insurance, ability to act quickly, they quickly decide this may not be for them.  It isn't fast money!

February 09, 2011 08:57 AM #2
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Rainmaker
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Scott Godzyk

One of Manchester NH's Leading Agents
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