New properties are going into foreclosure every month at an alarming rate. Despite the frequent news of government help and assistance, at any given time approximately 2% - 5% of all mortgages in America are in default. The amount of distressed seller leads (DSLs) BGS3 receives increases daily however there are many others that are never reached who are waiting to be found. The daily pursuit of multiple lead streams plays an integral part in reaching as many distressed sellers as possible in your area. Are you relying on a single form of marketing to gather DSLs? If you are like most successful business owners, you know never to put all of your eggs in one basket!
If one is to be successful in the short sale/ real estate business, the ability to incorporate diversified marketing strategies and create multiple lead streams is imperative. BGS3 provides one lead source to its partners of homeowners who are 30 days, 60 days, and 90 days late on their mortgage payments. Using the leads provided by BGS3 can supplement your short sale business with more home appointments, but relying solely on these leads as your only lead source is not recommended. Are there other leads you can tap into besides your monthly DSLs? Yes! To get your minds thinking about some possible avenues, I would like to present a few marketing ideas that are working for me.
I hope you are already taking advantage of the lis pendens leads at your county courthouse. They are free, plentiful, and very lucrative if used properly. I have been very successful with newspaper ads offering help and information on “Three Things Your Lender Doesn’t Want You to Know,” and a variety of other titles. Have you thought about advertising in the Yellow Pages in the Foreclosure or Bankruptcy sections? I am still getting phone calls on an ad I placed in the Yellow Pages two years ago! Does your email signature say that you are a Certified Program 3648 Representative? Your clients need to know where you specialize!
I am more than willing to take your phone calls throughout the week to assist you as you experiment with these alternative lead source options. If you would like additional training on any these topics, please set up an appointment with my department at clientrelations@bgs3.com to get started.
Written by: Ryan Richins, Manager, Client Relations
