Let's Get Started - Your First Phone Call From The Homeowner by D.C. Fowler
Now that you have a general understanding of a short sale and you are fully operational it’s time to secure your first deal. Assuming you have either done some form of advertising, made direct contact through a foreclosure listing, or by word of mouth, you are now ready to get started. If your phone does not ring immediately don’t panic. Sometimes homeowners will hold on to your number until they feel like there is nothing that they can do on their own. When it finally does ring you will respond along these lines: “Good Morning, Real Estate, how can I help you?” or “Good Afternoon, John speaking!” Avoid greetings such as, “Good Morning, Thank you for calling ABC Real Estate Company!”
Some people that call are a bit skeptical and by mentioning your company name they become more concerned with whom you are rather than how you can help them. The proper response to anyone that asks for more information or references would be, “I’m a private investor that specializes in obtaining properties pre-foreclosure. If your property qualifies then I may be able to take your property off your hands and help you avoid any further damage to your credit.” You want to eliminate the perception that you are a huge company with lots of offices and employees.
Besides, someone that has a potential foreclosure hanging over their head most likely will feel more comfortable speaking with an individual rather than a corporation. You are someone with a possible solution to their problem, get straight to the point and do not waste anytime attempting to justify your service offering. If it is not right for that individual then move on to the next. Don’t get me wrong; don’t be rude or obnoxious because you will have some people that won’t go any further until they feel comfortable with who’s on the other line.
What I’m saying is if you feel that someone is being difficult although they are the one with the problem, then you have to decide whether or not it is worth your time. I have had people call me that gave me a hard time at first but after I met with them face to face and explained how I can help, they immediately warmed up.
Once the ice is broken then it’s time to take down some personal information. Try not to sound like you are reading from a script but rather hold a conversation and get your questions answered in that manner. (Go to the back of the book and review the property profile sheet). Use this form every time you get a prospect on the phone. Make sure that you fill the form out completely, this will give you all of the information you need to start your initial qualification. If the homeowner is facing a possible foreclosure they will often let you know that they are behind on their payments or have received calls or letters from their lenders. You let the person know that you may be able to work with their lender to delay or even prevent the foreclosure. Ask to set up appointment to see the property ASAP.
I usually ask to come and take a look at the property the same day. If you don’t, they may speak with another investor. If you can’t meet with them the same day ask them to please not speak with anyone else until you can sit down face to face with them. Often, homeowners will agree to your request and be very open minded when you meet with them.
D.C. Fowler has been a real estate investor for 15 years specializing in the area of pre-foreclosure/short sale investing. He has bought and sold over 200 homes in Georgia, Florida, Louisiana, and Tennessee using the same short sale techniques that he teaches in his course, Making Money with Short Sales: The Complete Guide to Acquiring Property Pre-Foreclosure. Mr. Fowler resides in Atlanta Georgia. He also spends many hours per month teaching his creative real estate investing techniques to other aspiring investors.
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