How to Target Short Sale Listings with the Right Lists

More and more Rainmaker real estate agents are marketing to sellers facing foreclosure.  But how do you find those prospects?

In today’s new market, real estate marketing is a marriage between print and web marketing.  Often the first step is a highly targeted list for economical and effective mailings.

Four target lists that work:

1. Search MLS: Identify neighborhoods with high proportion of short sales and foreclosures by searching MLS.  Search specific fields for “REO” or “bank-owned” if your MLS supports that search.  Also, search comments field for “subject to bank approval” or “possible/potential/approved short sale” and other keywords to target high concentration neighborhoods.
2. Predictive Micro Markets: In many areas there are pockets of new construction that were purchased 3-5 years ago (2006-2004) that produce high concentrations of prospects.  Rainmaker real estate agents look for areas where first-time buyers and/or aggressive financing (zero down, option arms, interest only, etc.) were prevalent.  Searches by purchase price, by purchase date and by year built are effective.
3. Obtain Lists: Arrange with your local title company to e-mail you foreclosure filings regularly.  Consider buying the pre-foreclosure (Notice of Default) lists or scrubbed prospects by phone from services, such as RealtyTrac.
4. Past Clients: Many Rainmaker real estate agents discover a large number of there past clients and sphere homeowners need information about short sales, especially if prices have dropped significantly.  Headline: “Curious about short sales?  We can help.”

Remember, your concentrated mailings will also produce “equity sellers” as well as short sales.  Targeted mailings are a great way to earn more commissions with less effort!