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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I have been mailing NOD homeonwers for a few months now. I direct them to my short sale website or they can call me directly. Most homeowners prefer to use the internet before they are ready to make contact directly with a person. You typically need to contact the homeowner 5 times before they respond. I have a series of postcards and letters I send them over a 2 month period. I also advertise in the small local paper and thirty nickel. Again, directing them all to my short sale website. The website will give them some information but they will need to fill out the contact form to get the full info. After they fill out the contact form, I have a series of emails they receive over the next 91 days to stay in contact with them.

The best advice I can give you is to look on www.prostepmarketing.com. I use their short sale website, postcards, letters and tools. It has been very successful for me.
Thanks, Amber, this is great. The advice I have gotten from this group has been invaluable. I am now pointed in the right direction and feel that I have the support behind me from the Short Sale Network. Thanks again to all that responded to my request!
Yes. I do a lot of direct mail marketing to distressed property owners that are normally for sale by owners. The key is getting the right message to the right recipient repeatedly. I will usually receive a response somewhere between the 4th and 6th mailing. In the past, I would send letters every 3 days, but now I've beefed it up to every other day. I use a heavier weight paper because I don't use envelopes and that'll save you money on envelopes. Hope this helps!
Vanessa,

Are you doing mailings currently? I stopped mailing over a year ago as the response had dropped to zero. With all the TV, radio and newspapaer ads for loan mods, it has been challenging to say the least. I was sending 12 pieces over 2 months and getting no response, when I had averaged 5% response before. I would appreciate your thoughts on this. Luckily my referral business has kept me going, however more would be better!
Thanks!
Jill:

Yes I am. You might want to check your message and your methodology. You don't want to give out too much information in one mailing, but you also want to make sure that your mailing provides the 'what's in it for me" factor to your recipient. Be sure to relay the message of 1) what you're offering, 2) the benefit of what you're offering, 3) why the recipient should utilize your service in obtaining what you're offering, and 4) ALWAYS, ALWAYS, ALWAYS conclude with a "call to action". For instance, you may opt to create a letter campaign that's geared towards delinquent FHA mortgage holders advertising the advantages and benefits of the FHA Pre-Foreclosure Program. Remember, your message needs to be compassionate and not too "gimmicky" because the reality is that your recipient may be facing one of the most difficult situations that they've ever had to encounter in life. Make sure that your intentions are good and not "just to earn a commission"...anyone who's doing short sales should make sure that they're really interested and passionate about helping others (IMHO). Above everything else, be sincere. Lastly, be consistent. You might want to use a task management system (such as Top Producer) to keep your mailings on schedule. You will see results. Let me know how it works out for you!
Thanks for the tips Vanessa. This is a very helpful discussion!
I have had good luck with the Bandit Signs



I have found that it is best to concentrate your signs in one area so a potential client sees it more than once. I also found that late Friday is the best time to place the signs as many towns take them down pretty quickly. They will stay up through the weekend before town workers take them down. I usually start from a busy exit and than try to place several signs in each direction of the exit.

Glad some others got in this discussion, this has turned out to be a very helpful post. We used to do our signs late Thursday, as the sign cops are too lazy to pick up signs on Friday in our area...

At least they'd make it through the weekend typically

I'm exclusively internet locally. I get all the listings I can handle and then some. I do get some from referrals as well.
Mike could you post a link..if its still relevant...for April on AR...cant seem to find her...or the referral thing you were talking about
Thanks
Tony
http://activerain.com/april5050

http://activerain.com/action/agents/show_associates/april5050

I don't think she uses it like she used to a year or so ago, as we are pretty established around the country now and also have our pick of agents on THIS site. Even agents who aren't preferred partners. She used to spend a pretty good bit of her time on there hunting down agents to refer listings to. Thats how she got 30K points without even blogging OR inviting people...

I try to stay active on there myself. Because we originally started on there, we have ALOT of friends on Activerain. Dawn Maloney, Tony Marriott, and Larry Story are a few off the top of my head that are active on there that we've referred a bit to. I know there are MANY others...
Gotcha
Very interesting..I recognize the name of one of your preferred agents in Houston ....Guillermo Coronado..I run into his listings all the time.
I look forward to being able to become a preferred member myself soon:)

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