Pre-foreclosure People Wont Respond!
I have been trying to find some "opportunities" in the pre-foreclosure market. I am sending the people who are in the their first (insertions before the foreclosure sale) pubication a letter explaining that I can help them. After sending letters to 125 different people, I have had 2 responses in the past month! I dont understand why nobody is responding! Does anybody have any experience with this situation? Help!!!!
You response rate is about average for the number of letters sent out. Everyday go and knock on the doors of the houses you are most interested in. The problem with letters is that they may have 40-50 from different investors. You have to stand out from the crowd.
You need to do everything within your means to contact distressed home owners. Send letters, knock on doors, put up signs, put a ad in the paper and any thing else you can to find them.
The more you got out there the more responses you'll get.
Best of luck,
James
risk_tkr2,
Glad to meet you.
First you must understand what these pre foreclosure people are feeling. I like the following explanation.
Self-denial and the self-deception it requires are supposed to make life easier and safer than confrontation and accountability and the courage they demand.
The protection of hiding from reality appears innocent enough. Maybe it will go away if we pretend it's not real.
Maybe it will change if we just wait it out while denying its presence. Maybe, maybe, maybe. Doing life passively waiting for "maybe" to become a reality is to abandon ourselves to chance, to others, and to self-deception. That is hardly a formula for a sense of well- being. Rather, self-denial feeds on fear, anger, and self-doubt. It requires self-deception, manipulation, and flat out lying. The result is anxiety, depression, alienation and oppression.
We become a distortion of ourselves in this process, and our integrity is compromised as we become mired in our own lies. We lose touch with the truth. Rather than being protected, we are at great risk.
Eliminate the risk factor in your marketing efforts to overcome the sellers self denial and you will get responses to those letters.
John $Cash$ Locke
Damned, John, now those are some really big words all of which are applicable make sense and sound like my analyst on a good day.
In the meantime down on the point. If you really want to send letters. Make it simple and reflective of the realities of the day. We are on a spike. The prices are inflated beyond any concept of reality. Don't mean we cannot work with them.
The Letter:
Dear Mr. Grossenflick. I want to buy your house please tell me how much money you want. Just call me up and I will come over. I will bring a check.
Yours Truly,
Elmer Fudge.
Thats it. Times have changed this is what you do on a classic www.Spike.This has happened before? The only trouble is that there is a relationship between the spike and the bottom out. runs bout 1.75 up to a down of about .35.to .45. That is given no devaluation or other currency juggle. Japan a few years back did a very similar thing.
Cheers Lucius
It's a numbers game. As someone else previously stated that's not a bad response. Perhaps you should try to follow up with 2 or 3 postcards every week. Give them a call or knock on their door if the sale date is approaching.
Keep doing this, and maybe experiment with different letters to see which ones work better. Good luck, and don't throw in the towel just because it's a little tough in the opening round.
Quote:
On 2004-04-12 21:15, risk_tkr2 wrote:
I have been trying to find some "opportunities" in the pre-foreclosure market. I am sending the people who are in the their first (insertions before the foreclosure sale) pubication a letter explaining that I can help them. After sending letters to 125 different people, I have had 2 responses in the past month! I dont understand why nobody is responding! Does anybody have any experience with this situation? Help!!!!