Monday, November 28, 2011

Foreclosures, Love Em or Hate Em but List Em

    Yesterday, at Climer School of Real Estate, we talked about listing expired listings. The day before that, we talked about calling forsalebyowners.

    Here is another source of listing prospects that we can not ignore. People that cannot make their mortgage payments and are being foreclosed on are certainly prospects.  They are moving.  We don't know exactly when but it is for certain. 

    Short sales are 50% of the market in Orlando.  Half of the possible listings are people that can't make their mortgage payments.  They can't make their mortgage payments.  Their house is worth $150,000 and they owe $225,000 to the mortgage company. 

    Many Realtors tout themselves as being short sale experts.  I am a short sale expert.  How can you be a short sale expert?

    Step one, get a listing on a house where more is owed on it than it is worth and it is being foreclosed. That should not be hard to find. Next teach yourself what to do next.  How do I know this will work?  This is how I learned to do it twenty years ago. 

    You can go to seminars and get designations.  Nothing matters until you get a listing.  You will find it easy to list foreclosures if you call and talk to people that are being foreclosed.  They are looking for a solution. Did I say you would find it easy. Easy.  They don't have to pay you a commission and you can get them several thousand dollars at closing from the bank. How can it get easier than that.

    You can work on ways to get them to call you if you have patience.  If you are impatient, go to the clerk of the circuit court, find out who is being foreclosed and get in touch with them.  Do not over complicate this.

    As I mentioned about forsalebyowners and expired listings, if this sounds like it will work but you don;t quite know how to start, Attend my forty five hour post license class soon.  You have to take this class somewhere before you renew your Florida real estate license for the first time.

    If you want to learn how to start your real estate career, join me at Climer School of Real Estate in Orlando. .  Call Kathy at 407 822 3926

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