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Short sale leads are everywhere

As we gear up for 2013, short sales is on most Realtors’ minds, and many are surprised to learn that the leads are not difficult to find. Here are three tips on finding short sale leads.

short sale leads

short sale leads

Generate Leads in 2013

If you are like most folks, you are probably beginning to think about your business plan for 2013. In fact, you may already set a goal to obtain more short sale listings in the coming days, weeks, and months.

People cannot believe it when I say that short sale leads are everywhere – you just need to know what to look for.

Here are three great ways to uncover short sale leads:

  1. Identify Properties in Pre-Foreclosure. Through your local title insurance company, the public records, several third-party vendors, and even your MLS, you can identify the properties in your area where the borrowers are facing foreclosure. Anyone who is facing foreclosure (and who is not actively selling his or her home as a short sale or attempting a loan modification) could certainly be a viable short sale prospect.
  2. Locate Neighborhoods Built When Property Values Were High. The market was at an all-time high with respect to property values in the mid 2000s. And, there are so many developments and master-planned communities with properties built at that time. Given this fact and the notion that the mid 2000s was characterized as a time of stated-income, interest-only, and negative-amortization loans, there’s a likely possibly that you may strike gold–if you can identify those folks that may need your help today.
  3. Build a Strong Referral Business. Aside from your friends, your family, and the parents of the other kids on the your child’s soccer team, there are other excellent ways to build your referral business. Develop a mutual referral network of service providers that would be interested in sharing referrals. Include landscapers, plumbers, electricians, and school teachers among others. However, the key to your success will be consider the individuals that know someone that knows someone that may need your help today. To me, adding accountants and attorneys to your network should be a no-brainer.

While there are many other great sources of leads, these are three good ones to consider. Step one is to identify and locate short sale prospects. Your next step is to work on lead conversion. So, it’s a good idea to develop a strong marketing and conversion campaign. After all, it’s pretty darn rewarding to see your prospects become active listings in your portfolio.

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Written By

Melissa Zavala is the Broker/Owner of Broadpoint Properties and Head Honcho of Short Sale Expeditor®, and Chief Executive Officer of Transaction 911. Before landing in real estate, she had careers in education and publishing. Most recently, she has been able to use her teaching and organizational skills while traveling the world over—dispelling myths about the distressed property market, engaging and motivating real estate agents, and sharing her passion for real estate. When she isn’t speaking or writing, Melissa enjoys practicing yoga, walking the dog, and vacationing at beach resorts.

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