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Add You - Real Estate Foreclosures - A Real Estate Agent's Guide Part 1
Once relegated to the classified advertising section of the local paper, real estate has jumped to front-page headlines and covers of national magazines. Leaders in the real estate industry are weary from interview requests for their perspectives on market conditions, the ongoing battle with the banking industry looking for entry into residential real estate brokerage, online brokerage commission discounters and investigations into their business practices from the U.S. Department of Justice.The headlines threaten a correction in real estate prices, protectionist real estate trade assoc
Another type of Post-foreclosure is the property purchased by an Investor. Often times these Investors have established relationships with Agents in a market. However, a wise Agent can still re-position themselves so they get a shot at them.
Conclusion
So, for the most part, the best source of new leads from Foreclosures can be found in Pre-foreclosures. This new source of business could mean another 100 - 600 new, very motivated (seller) leads that are desperate for your professional help. And that's only for a market of 100,000 homes. Your market could have even more.
Why hasn't this opportunity been made available before?
Well, before now, all the pie
When you’re trying to find that perfect car, it is easy to fall prey to smooth talking salesman, we have all experienced the Shark and Minnow type feeling, getting smooth talked while having that bad feeling on the inside. It happens everywhere in each state, in each city, generally multiple times. But why is this? We all need a car, but why is the sales model so crappy to be blunt. Where does the root lie? And it is a lie.It all starts with a need, or what we think we need. But where does this need come from? As you guess it, I have the answer, status. In America, we are bombarded with
So, if you'll share a few minutes of your time with me today, I promise to add a little insight to your life on Foreclosures and how they can be a source of new leads for sellers that ultimately end as listings. Before I start, and end up generating even more emails and calls, please know that by no means is this short little email's intent to answer everything about Foreclosures. I will simply answer the most frequently asked questions that we've fielded over the last few months.
There are basically only three types of Foreclosures:
1) Pre-foreclosure
2) Foreclosure
3) Post-foreclosure (REO).
Pre-foreclosure
Pre-foreclosure describes property in a state of default prior to the Foreclosure Auction. A property enters the Pre-foreclosure phase once the lender posts a notice of public record that the property owner is behind, and they intend to exercise their right to Foreclose the property. The amount of time before auction varies from state-to-state but averages between 3 - 6 months.
So, a Pre-foreclosure is a property where the owner is behind on payments (usually at least a couple of payments), and the bank has recorded official notice to the public that they will take back the property if the owner does not arrange for an alternative plan.
As you may wisely project, a homeowner in Pre-foreclosure can be a fairly motivated seller and have a strong desire to sell once they understand (or decide) that selling is their best way out of trouble. An Agent skilled (or trained) in dealing with these types of sellers can get the property listed and sold before the auction date.
Pre-foreclosures can be an excellent source of about 100-600 new leads per 100,000 households.
Foreclosure
You cannot do much with a home in this state. Typically, depending on the area and lender, 24 - 48 hours before the auction is too late. At that time, the home goes to the highest bidder at an auction, which is typically held at the county courthouse steps (location may vary depending on the area).
I won't go into too much detail now, but the Foreclosure tactics at the auction can be very fruitful for an Agent. As you can imagine, there are a plethora of Investors & Bank contacts that a wise Agent can take advantage of. All of which could lead to new business.
Although for the most part, once the home goes to auction, it's not a good source of seller leads... that is unless you can make contact with a bank or investor representative that may want to list with you once they take possession of the home.
Post-foreclosure
A home in this phase is typically what Agents think of when they hear a property labeled as a Foreclosure. The bank has taken back the property from the homeowner and now refers to the home as Real Estate Owned (REO for short).
Many Agents think these are a lost cause because there is often a local Agent who has positioned themselves to get the lion's-share of the REOs in any given area. This may or may not be true, and an Agent can re-position themselves so they can get a chance at these properties.
Another type of Post-foreclosure is the property purchased by an Investor. Often times these Investors have established relationships with Agents in a market. However, a wise Agent can still re-position themselves so they get a shot at them.
Conclusion
So, for the most part, the best source of new leads from Foreclosures can be found in Pre-foreclosures. This new source of business could mean another 100 - 600 new, very motivated (seller) leads that are desperate for your professional help. And that's only for a market of 100,000 homes. Your market could have even more.
Why hasn't this opportunity been made available before?
Well, before now, all the piec
When you find yourself in serious debt and realize that you are in over your head, the most important thing that you can do is to work with a debt consolidation agency to work out the best possible debt settlement that you can. A debt settlement is a way to satisfy your creditors by paying a pre-negotiated lower payment which they agree to accept as full payment for your debt.The first thing you should do when negotiating a debt consolidation settlement is to ask that the interest being charged on your account be waived or greatly reduced. This is important because if you don’t get yo
There are basically only three types of Foreclosures:
1) Pre-foreclosure
2) Foreclosure
3) Post-foreclosure (REO).
Pre-foreclosure
Pre-foreclosure describes property in a state of default prior to the Foreclosure Auction. A property enters the Pre-foreclosure phase once the lender posts a notice of public record that the property owner is behind, and they intend to exercise their right to Foreclose the property. The amount of time before auction varies from state-to-state but averages between 3 - 6 months.
So, a Pre-foreclosure is a property where the owner is behind on payments (usually at least a couple of payments), and the bank has recorded official notice to the public that they will take back the property if the owner does not arrange for an alternative plan.
As you may wisely project, a homeowner in Pre-foreclosure can be a fairly motivated seller and have a strong desire to sell once they understand (or decide) that selling is their best way out of trouble. An Agent skilled (or trained) in dealing with these types of sellers can get the property listed and sold before the auction date.
Pre-foreclosures can be an excellent source of about 100-600 new leads per 100,000 households.
Foreclosure
You cannot do much with a home in this state. Typically, depending on the area and lender, 24 - 48 hours before the auction is too late. At that time, the home goes to the highest bidder at an auction, which is typically held at the county courthouse steps (location may vary depending on the area).
I won't go into too much detail now, but the Foreclosure tactics at the auction can be very fruitful for an Agent. As you can imagine, there are a plethora of Investors & Bank contacts that a wise Agent can take advantage of. All of which could lead to new business.
Although for the most part, once the home goes to auction, it's not a good source of seller leads... that is unless you can make contact with a bank or investor representative that may want to list with you once they take possession of the home.
Post-foreclosure
A home in this phase is typically what Agents think of when they hear a property labeled as a Foreclosure. The bank has taken back the property from the homeowner and now refers to the home as Real Estate Owned (REO for short).
Many Agents think these are a lost cause because there is often a local Agent who has positioned themselves to get the lion's-share of the REOs in any given area. This may or may not be true, and an Agent can re-position themselves so they can get a chance at these properties.
Another type of Post-foreclosure is the property purchased by an Investor. Often times these Investors have established relationships with Agents in a market. However, a wise Agent can still re-position themselves so they get a shot at them.
Conclusion
So, for the most part, the best source of new leads from Foreclosures can be found in Pre-foreclosures. This new source of business could mean another 100 - 600 new, very motivated (seller) leads that are desperate for your professional help. And that's only for a market of 100,000 homes. Your market could have even more.
Why hasn't this opportunity been made available before?
Well, before now, all the pie
Your home is on the market to sell. In the last three months, you’ve had only a few lookers, but nothing’s happened. You keep thinking, what will help it sell?You’ve put out flyers. You’re planning an open house. Recently, you’ve dropped the price a little. Your house is still for sale. The days on the market continue to climb.It’s time to regroup.Home buying is picking up as we come out of the winter months. However, the homeownership rate is expected to only increase by two percent this year. The increase will be generated between March and August, due to the end of scho
As you may wisely project, a homeowner in Pre-foreclosure can be a fairly motivated seller and have a strong desire to sell once they understand (or decide) that selling is their best way out of trouble. An Agent skilled (or trained) in dealing with these types of sellers can get the property listed and sold before the auction date.
Pre-foreclosures can be an excellent source of about 100-600 new leads per 100,000 households.
Foreclosure
You cannot do much with a home in this state. Typically, depending on the area and lender, 24 - 48 hours before the auction is too late. At that time, the home goes to the highest bidder at an auction, which is typically held at the county courthouse steps (location may vary depending on the area).
I won't go into too much detail now, but the Foreclosure tactics at the auction can be very fruitful for an Agent. As you can imagine, there are a plethora of Investors & Bank contacts that a wise Agent can take advantage of. All of which could lead to new business.
Although for the most part, once the home goes to auction, it's not a good source of seller leads... that is unless you can make contact with a bank or investor representative that may want to list with you once they take possession of the home.
Post-foreclosure
A home in this phase is typically what Agents think of when they hear a property labeled as a Foreclosure. The bank has taken back the property from the homeowner and now refers to the home as Real Estate Owned (REO for short).
Many Agents think these are a lost cause because there is often a local Agent who has positioned themselves to get the lion's-share of the REOs in any given area. This may or may not be true, and an Agent can re-position themselves so they can get a chance at these properties.
Another type of Post-foreclosure is the property purchased by an Investor. Often times these Investors have established relationships with Agents in a market. However, a wise Agent can still re-position themselves so they get a shot at them.
Conclusion
So, for the most part, the best source of new leads from Foreclosures can be found in Pre-foreclosures. This new source of business could mean another 100 - 600 new, very motivated (seller) leads that are desperate for your professional help. And that's only for a market of 100,000 homes. Your market could have even more.
Why hasn't this opportunity been made available before?
Well, before now, all the pie
I’d like to outline five different powerful tools that are used by all power closers. Anyone who masters these skills who does not possess them already will surely see profound results. The first concept is that power closers are intensely goal-oriented. Talk about goals and goal-setting these days seems to have become very clich?. In spite of this tendency, super-successful individuals who are driven to accomplish well-planned and clearly defined goals are distinguished from those who are mediocre. They know exactly what the bottom line is and exactly what they have to
Although for the most part, once the home goes to auction, it's not a good source of seller leads... that is unless you can make contact with a bank or investor representative that may want to list with you once they take possession of the home.
Post-foreclosure
A home in this phase is typically what Agents think of when they hear a property labeled as a Foreclosure. The bank has taken back the property from the homeowner and now refers to the home as Real Estate Owned (REO for short).
Many Agents think these are a lost cause because there is often a local Agent who has positioned themselves to get the lion's-share of the REOs in any given area. This may or may not be true, and an Agent can re-position themselves so they can get a chance at these properties.
Another type of Post-foreclosure is the property purchased by an Investor. Often times these Investors have established relationships with Agents in a market. However, a wise Agent can still re-position themselves so they get a shot at them.
Conclusion
So, for the most part, the best source of new leads from Foreclosures can be found in Pre-foreclosures. This new source of business could mean another 100 - 600 new, very motivated (seller) leads that are desperate for your professional help. And that's only for a market of 100,000 homes. Your market could have even more.
Why hasn't this opportunity been made available before?
Well, before now, all the pie
Earned value (EV) is one of the most sophisticated and accurate methods for measuring and controlling project schedules and budgets. EV has been used extensively in large projects, especially in government projects. PMI is a strong supporter of the EV approach because of its ability to accurately monitor the schedule and cost variances for complex projects.Although it is sophisticated, EV can be scaled to be appropriate for any size of project. The key is in the project planning.There are three primary advantages to using EV: 1. Accuracy in reporting 2. Ability to deal
Another type of Post-foreclosure is the property purchased by an Investor. Often times these Investors have established relationships with Agents in a market. However, a wise Agent can still re-position themselves so they get a shot at them.
Conclusion
So, for the most part, the best source of new leads from Foreclosures can be found in Pre-foreclosures. This new source of business could mean another 100 - 600 new, very motivated (seller) leads that are desperate for your professional help. And that's only for a market of 100,000 homes. Your market could have even more.
Why hasn't this opportunity been made available before?
Well, before now, all the pieces were not readily available. Today, the technology is in place, the turnkey business-in-a-box-system is built, and the market for this business is very ripe & growing.
So, if you are tired of your competition and are interested in carving out a brand new niche for yourself that 99% of Agents don't know about, you can find out how by visiting our website.
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