Marketing Effectivley Prior to Notice of Default
I get calls every day from Short Sale agents that inquire how they can get in contact with clients that are currently 30,60,90 days late on their note and have not received a Lis Pendens yet. The main issue is Lis Pendens listings tend to have a bad closing ratio. Most of the time low conversion ratios are attributed to the information going public at a certain period. In which case the market becomes loaded with telemarketing, mail and circulars. The second strongest matter is that often once an Lis Pendens has been announced, the borrower may have already abandoned the home.
This is where our function comes in to relieve the issues mentioned above. Our operation has the ability to get listings of borrowers as they have missed a payment, instead of after an Lis Pendens has been published. By targeting borrowers in this situation they are ideal for short sale leads. The clients have just neglected their second or third deed payment and they need to make a determination soon if they need to be able to keep their dwelling and credit. It is now time for you to make contact and educate the borrower about the possible benefits to enter into a short sale dealing.
