Converting Loan Mod Prospects To Short Sale Listings

I understand that a common challenge many agents who prospect for short sale listings by door knocking encounter is not knowing how to respond to the person answering the door who politely dismisses the information being offered with a statement as simple as,"We're having our loan modified."

If you've ever experienced anything like this and didn't like your response, read mine below (spoken in my language) and see if it fits for you. If so, I invite you to use this exact technique in your market. You'll find the tools right here and a practice video right here.


Scene: Front door of home targeted from my Pre-NOD list after meeting specific search criteria requirements.

"Knock, knock, knock..... " - door opens. I'm positioned several feet back and sideways (non-threatening) as if preparing to turn and walk off.

Home Owner: "Can I help you....?"

Me:  "Hi. My names __________ . I'm a local real estate consultant and I'm just out this evening meeting the neighbors and promoting a book I've put together and I wanted to put a few of these in your hands.

At this point I'd be holding out several of my money making business cards I created specifically for farming short sales that you can see right here. 

(cont): ...this may or may not apply to you but I know you know somebody here in San Diego who owes more on their home than it's worth and I know they'll want one of these. They can log on and for the next week they can save $37 bucks and get it for free. This book holds their hand and walks them through the process of a real estate short sale showing them step-by-step how they can sell their home at it's current market value for FREE! Their lender pays everything. They owe nothing. They get out from underneath the house. There's no foreclosure on their credit report. They walk away."


Home owner: "Well we're having our loan modified because...."


Me: "Wow that's great! Has it been approved already? Can I ask you a question? If you were flying across the Atlantic, even though you didn't expect any issues with your flight, wouldn't you still want to know where the emergency exits and life vests were located?Think of this book as your emergency exit and parachute combined if for whatever reason the loan modification turns into something you suddenly don't want to do or doesn't work out. You don't have to use it. Just keep it."

Now what?

Now I just left a viral ebook that positions me as a short sale guru in the hands of someone who owes more on their home than it's worth and probably knows others in the same boat.

Not bad.

At every door and with every conversation I create and leave open a stronger possibility of potential future business by delivering the right message, to the right market, at the right time and by utilizing technology to follow up for me in a meaningful but automated way. Ordering my book gifts them with the information they seek while capturing their email address so that my 10 letter automated drip campaign with free advice and tips can continue to provide value while positioning me as their #1 option and making it easier for them to connect with me.