Going Door To Door
I'm a new investor and I'm debating whether this is a good strategy. It seems like everyone mails out postcards but far less people go out there knocking on peoples doors. Luckily I have a lot of free time to go out there and do this. Any advice, tips, opinions or scripts dealing with this method would be greatly appreciated. I'm sure there are many other newbies out there like myself that could use your help.
Thanks, Adam
Go door to door and i believe your a success. who walks into your private life anymore?? we just get those telemarketing & email & direct mail things . Face to face at the door is living
Adam,
I have never gone to a door for a foreclosure. But I do go when I see a FSBO, Most people are more willing to talk to me in person, than when I call them about the property.
When I knock I'm usually not buying for myself, I am usually looking for a deal to make a purchase offer to assign to a qualified buyer.
But I think the personal contact is a good thing. It is easier to overcome objections.
Lori
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I go door to door, but I just started this week and havent got a deal yet, so I dont know if I'll be much help. I like it a lot, and I think I should land a deal if I keep at it, I just have to keep modifying my techniques till I get it right. I try to stick to 3 zip codes in my area, they are mostly nice houses in
nice areas and the homes in foreclosure are normaly close to each other. In fact there were two seperate streets I went to on the same night where there were two houses on the same street in foreclosure. I also try to do at the least of 3 houses a night, 15 a week so I average around 60 hosues per month, but I did 9 the other night which on took about an hour to do, and could do 20+ per night if I wanted to. Oh BTW, I normaly do this around 630-830 PM, it seems to me a good time to do it and with work and other things its about the only time I have.
This is the basic script I try to stick to;
"Hello, sir/mam, my name is James, and I found that you may be facing a foreclosure." " I specialize in dealing with foreclosures, owners,
and the banks. I can help stop your foreclosure, and get you back on your feet." If you havn't already done so, I would like to sit down with you and discuss some possibilites in helping you out"
I got it of another investor here on TCI, Im gonna try to keep modifing it till I get one I really like that works well.
So far the responses havent been great, mostly cold shoulders, but I've given my cards out and we'll see if they call in a month or so when they get desperate. I am also going to focus more on houses that have been in foreclosure for at least 60 days, that way they should be more eager to work somthing out with me. And Im also sticking to mailing so I hit the rest of the town, and I think Im going to start putting up bandit signs.
Best of Luck ,
James
Quote:
On 2004-03-06 00:35, Jimbezy wrote:
I go door to door, but I just started this week and havent got a deal yet, so I dont know if I'll be much help. I like it a lot, and I think I should land a deal if I keep at it, I just have to keep modifying my techniques till I get it right. I try to stick to 3 zip codes in my area, they are mostly nice houses in
nice areas and the homes in foreclosure are normaly close to each other. In fact there were two seperate streets I went to on the same night where there were two houses on the same street in foreclosure. I also try to do at the least of 3 houses a night, 15 a week so I average around 60 hosues per month, but I did 9 the other night which on took about an hour to do, and could do 20+ per night if I wanted to. Oh BTW, I normaly do this around 630-830 PM, it seems to me a good time to do it and with work and other things its about the only time I have.
This is the basic script I try to stick to;
"Hello, sir/mam, my name is James, and I found that you may be facing a foreclosure." " I specialize in dealing with foreclosures, owners,
and the banks. I can help stop your foreclosure, and get you back on your feet." If you havn't already done so, I would like to sit down with you and discuss some possibilites in helping you out"
I got it of another investor here on TCI, Im gonna try to keep modifing it till I get one I really like that works well.
So far the responses havent been great, mostly cold shoulders, but I've given my cards out and we'll see if they call in a month or so when they get desperate. I am also going to focus more on houses that have been in foreclosure for at least 60 days, that way they should be more eager to work somthing out with me. And Im also sticking to mailing so I hit the rest of the town, and I think Im going to start putting up bandit signs.
Best of Luck <IMG SRC="images/forum/smilies/icon_cool.gif"> ,
James
James,You need to change your script. You are giving the homeowners being foreclosed on too much information. People are turned off when people know too much of their business. Try changing your introduction to Hi,I am James a real estate investor and I understand you are wanting to sell your house? Would it be convienient to sit down and discuss it with you now or would later be more convienient? I feel this would be a less offensive approach to the homeowner. Let the homeowner tell you they are in foreclosure especially if the auction is 2-3 months off.
Well, while there's some sense to not telling them too much about yourself, you do want to state a clear purpose why you're there, and that is to see if they need help. I don't even use the word foreclosure with them, people get all jittery from it. Also use negative phrasing; stressed people hate hard closes or intimidating questions. "Good evening, my name is Joe, I noticed your house may be in a bit of a trouble and I'm here to see if you needed any help with that but you probably already took care of it?" (Slightly nodding your head). From here just listen and observe. Never argue with them and always try to find out what is it that got them out of the foreclosure if they claim so. Good door knocking!
Oh, and never walk into the door if its answer by a beautiful wife and the husband is not home – this is actually very dangerous and will never get you any good deals closed…
I go door to door, and have more success than letters. After you go out enough, you begin to develop your own little sales pitch. I basically tell them that I am a foreclosure specialist, that i deal directly with the banks and the attorneys to find a solution, and that it is of no cost to them. I then hand them a business card and ask if they have a few moments to discuss. If they say no, I say, well you have my card, if anything comes up, feel free to give me a call, if they say yes, I go in and talk with them. Even the ones who say no, may end up calling. I got a call thursday on my way out to go to appts, about an auction thats happening this tuesday. I told him, I can stop it, but because of the short period of time I have to work, the only solution is to sell the property, putting some money in their pocket. I should be wrapping that one up this weekend.
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