Does anyone have any success stories of marketing to distressed homeowners?  I would like to do this as economically as possible!  Thanks for your help!

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Internet is the cheapest form. It takes LOTS of blogging and general advertising. It is an art that takes LOTS of practice to learn, I could probably teach a course on just THIS alone!! At one point in time, I had EVERY spot on the 1st page of google for anything related to short sales in Jacksonville!! Yes, EVERY spot on the first page! I'm pretty good at that.

We also teach about putting signs up in areas you want listings in. 100 signs with stands, maybe $300 investment.

both of those require work. If you aren't willing to do much work, set up a system to email out homeowners in Default. Those leads can be purchased from MANY resellers, however most will come from First American CoreLogic! The others are resellers of the data most times! This method will cost the most, but will require the least amount of work

We teach a great deal about this topic in our training course.

Hope this was some help Pamela! You'll find this site and network an awesome resource. Some of the forms and resources on the preferred partner site are also good to give to homeowners as well.
I am interested in putting up small bandit signs around the area that I farm and I am not sure what the least expensive way to do that might be. Maybe you could tell me how you did it. I would really appreciate it.

Mike I like to post bandit signs in my area to drive some trafic into the website, do you have some samples that you could recomend? what are the ones that have given you the best responce?

I am part of the lead machine but I a,m looking for ways to drive more trafic

 

Do you have the contact information of the correct department or person at First American CoreLogic where I can find out more information about the default lists they sell?

I agree with Mike. I spent $375 for bandit signs and $20 per month for a toll-free number. I have multiple websites and I spend about $75 for all of them. The toll-free number is usedon the bandit signs and it's just a voice mail that leaves general information about foreclosure. In my experience, distressed homeowners don't want to speak with us right away, but if you leave the right message on your v-mail, they will leave their contact information. I have several different websites, I blog everyday, I created a group on Meetup.com. I just started that group, but what I'm doing is offering a "safe place" for homeowners in distress to come and share their stories and learn of help that's available. We're having our first meeting later this month.

I check the MLS for neighborhoods that I know sold pretty high a few years back and are currently selling much lower. I walk those neighborhoods and talk to anyone I come across in the neighborhood. If no one is home, I have a "distressed property" business card that describes the services I offer and my website. A lot of my web traffic comes from that. In about 2 months, I've been able to keep 500 users per month on my site, and I'm finally starting to get leads trickling in. After I walk a neighborhood, the streets I walked are added to a database and I send snail mail to those houses. I alternate the snail mail between short sale news, news about their neighborhood, and general real estate news.

The key is to be consistent and be patient! It's going to feel like it's taking forever, but it will happen.
Tish, what a wonderful idea about the meet-up group! How has it been working for you?
How do those bandit signs work for you? Does your sign offer FREE INFO or ...? thanks for sharing.

Hi, hope all is well 

Could you please share where you got the 1800 # from ? 

I'm totally loving Mike and Tish's response. That is a great idea.

Do you have issues with the bandit signs? I keep hearing that they are "evil" but no one is telling me why. I can't find anything about them in Ohio's Code of Ethics regarding them.

I've been door knocking on some of them in nicer neighborhoods -- used to do a lot of these. However, after having a shotgun shoved in my face I backed down a bit. :p

Hi Toby,

It's not that the bandit signs are "evil" per se but they create a blight wherever they are located. I can't imagine anybody on this board wanting these signs in their neighborhood - it has the effect of saying indirectly that the neighborhood is in trouble which could affect your own property values.

Some municipalities will fine/penalize the owners of bandit signs. While this strategy might work for some agents, I think they are an eyesore and convey that an area is in a downturn.

Check your State and Local Laws.  Many Communities prohibit or restrict their use.

As one to "Cry out" about alot of things I see as an injustice, I see nothing wrong with bandit signs for the most part. They are against sign ordinances in most areas, that is UNLESS they are put on private property...

Yellow background with black letters get the best response studies have shown.

I'm a big internet guy. I've done decent with the signs, the leads aren't as good of a quality that I get from internet however. I'm lazy the last couple years and just work off my computer. I still don't believe I'm a realtor with around 100 listings but I almost never leave my office some days...

Of course I spend the majority of my time on the SSSN network now

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