Insider's Guide to Finding Distressed Homeowners: What Real Estate Agents & Investors Need to Know
What are Distressed Sellers?
Distressed sellers are: Out of State Absentee Owners, Vacant Houses, Delinquent Homeowners, Property Tax Delinquent, Bankruptcy, Utility Shut-offs, Divorcing Homeowners, Empty Nester's, Free and Clear properties. Also, Circle Prospecting Geo Leads and Farms are great.
Benefits of Distressed Sellers
Flexibility. You can get started with distressed sellers on a low budget. - High profit potential - You can make a lot of money with distressed sellers. - Little risk - There is minimal risk associated with distressed sellers. - Low skill level - You don't have to have special skills to do distressed sellers. - High Potential for Success - If you have a good strategy, you have a high chance of success. - High Pay-off - You can see quick and substantial returns from distressed sellers. - Little Competition - There are not many people doing distressed sellers for real estate investing. - Easy to Scale - You can easily expand your operations as you get more experience. - You Can Do It from Anywhere - You can do it from your laptop or anywhere you can access the internet. - No Residual Risk - Once you close a deal, you no longer have to worry about it.
Distressed sellers best practices
When focusing on distressed sellers for real estate investing, it's important to follow these best practices: - Choose a successful script - You must have a proven script that works. It's important to adapt it to fit your specific needs. - Stay focused on the script - You can't deviate from the script. You must stay focused on your goal. - Have a plan for objections - You must be prepared to deal with objections. It's important to have a strategy ready to respond to these objections. - Be patient - You must be highly patient when conducting marketing for real estate investing. - Have a positive attitude - You must have a positive attitude when conducting telemarketing for real estate investing. - Have a system to follow-up - It's important to have a system to follow-up with the people you've spoken with.
Appointment setting best practices
When setting appointments for in-person meetings with potential sellers, it's important to follow these best practices: - Prepare your script - Use the same script you use for cold calling. - Speak slowly and clearly - Nobody likes to be rushed on the phone or by a salesperson. - Be friendly - Be extremely friendly and polite when setting appointments. - Be persistent - You have to be persistent to find sellers who are open to receiving offers. - Be persistent - You have to be persistent to find sellers who are open to receiving offers. - Keep a log of your calls - Record the date and time of each call you make and whom you call. - Follow-up on all your calls - Call back everyone who doesn't respond to your first call.
Tips for successful marketing of distressed sellers
- Keep a positive and enthusiastic mindset - Nobody likes a negative person. - Be positive and friendly - Be friendly and positive when you're on the phone. - Be sure of what you're selling - If you're not sure of what you're selling, you're going to lose potential customers. - Be confident in your product - Your customers must believe in your product. - Be disciplined - You must be disciplined and organized. - Be patient - You must be patient and consistent. - Don't let rejection get to you. Keep learning - Keep learning more about telemarketing and growing as a salesperson. - Have a written script - You must have a written script to follow. - Have a positive attitude - You must have a positive attitude to succeed. - Be persistent - You must be persistent to succeed.
The importance of attitude in your efforts
Your attitude is extremely important when contacting distressed sellers for real estate investing. If you have a positive and enthusiastic mindset, you're going to be much more successful than if you have a negative mindset. If you're excited, you're more likely to persuade your customer to accept your product or service. Negativity and pessimism turn off customers and prevent them from buying from you. No one likes to be around a negative person. If you're negative while communicating with distressed sellers, you're going to turn off your customers and prevent them from buying from you.
Tools and resources for distressed sellers
Auto-dialers - These can help you reach more customers. - Phone numbers - You can find phone numbers for potential customers through Pioneer http://www.pioneerdatasolution.com These resources can help you find people who are open to receiving offers on their homes.