| Right now so many of the homeowners in trouble | | | | are now facing imminent foreclosure. |
| are "upside down" in their mortgages that it's easy to | | | | Some have attempted to sell their homes - but hired |
| think that all distressed homeowners have no equity. | | | | real estate agents who didn't do the job. |
| But that isn't true. | | | | Unfortunately, too many agents are willing to go |
| This economy has hurt people in all income groups - | | | | along with a seller's hopeful ideas about pricing, rather |
| and some of those people who are in trouble | | | | than tell them the truth about the current market. |
| purchased their homes well before the real estate | | | | And, many agents are afraid to tell sellers just what |
| bubble began to grow. | | | | they need to do to give their home more appeal |
| These are people who had no trouble making their | | | | than the competition. Finally, some agents don't live |
| payments for the last 5, 10, or 15 years. They're | | | | up to the marketing promises they make. |
| responsible individuals whose homes should have | | | | The result is a home that doesn't sell and a |
| been an investment in their futures. And they would | | | | homeowner who is deeply depressed. |
| have been, had their employment not ended. | | | | They need assistance from a real estate professional |
| But... the economic crisis didn't discriminate. When the | | | | who will do three things: |
| job layoffs began, only those at the very top of the | | | | - Price their homes for a fast sale |
| ladder were immune. And many who are still working | | | | - Show them how to present for best appeal |
| have had their salaries drastically cut. | | | | - Market effectively |
| The result is that many of those who can no longer | | | | If you can do those things, you should be contacting |
| make their mortgage payments do have some equity | | | | these distressed homeowners before their time runs |
| in their homes. | | | | out. They need you far more than Short Sale sellers |
| They need help from a competent real estate agent | | | | do because they have much more to lose. |
| who will market their homes effectively and help | | | | If you're marketing from notice of default postings in |
| them put at least a few dollars in their pockets - | | | | the newspaper, or from lists, take the time to do |
| while helping them save their good credit rating. | | | | the research and see which of those homeowners |
| Sadly, many of these homeowners have become so | | | | do have equity. These homeowners need a different |
| depressed that they're not trying. | | | | contact letter - not the one you're sending to |
| They read all about HARP - the Home Affordable | | | | homeowners who need to do a short sale. |
| Refinance Program - and hoped that they would be | | | | The first step is to help them see where their last |
| able to refinance at a better rate. They also read all | | | | listing went wrong, and what you're going to do to |
| about loan modifications, and hoped that they would | | | | correct the situation. By giving good information you |
| be able to get a lower payment for a few years and | | | | will give them a new reason to hope, and to give |
| hold on to their homes. | | | | you the assistance you'll need to sell their homes |
| For most, the answer was "no." Both of those | | | | quickly. |
| programs have turned out to be pie-in-the sky. | | | | If they've tried to sell and failed, they aren't going to |
| They've helped approximately 300,000 when each | | | | trust you immediately. So begin a drip campaign that |
| was advertised to help 3 to 5 million. The banks "can" | | | | shows that you know the market and know what to |
| refinance or modify those loans, but they prefer not | | | | do. In other words, build some trust before you ask |
| to. | | | | for the listing. |
| Meanwhile, trying to use those programs has used up | | | | But hurry... some of your potential listing clients don't |
| precious months, and many distressed homeowners | | | | have much time. |