A group of possible customers you can identify and reach. You will find that a successful Realtor is one that is constantly reaching out to new people and introducing themselves to the community. It can be done in many ways. Whether through targeted mailings, advertising campaigns, open houses, public relations activities, special offers or through many other creative ways. The name of the game is for homeowners to reach out to you. This activity is often underdone as it usually requires an investment of time, expense, and effort but the rewards are well worth the costs.

The most important word in the above statement is “REGULARLY”. The single greatest mistake  most realtors make is failure to stay in touch with existing customers on a regular basis. Accounting firm PriceWaterhouse-Coopers recently did a study and found that 70% of customers who leave a supplier name the reason as lack of contact, follow-up and individual attention. That study relates to you as a Realtor and the importance of staying in front of your community, neighborhoods, and farming area.

This is one of the most important points of promotion. If you don’t keep in front of them, your clients, SEO, and community will eventually forget about you or get poached by your competition. On the other hand, they already have trust in you, so if you simply keep in front of them with a newsletter or regular promotion, who are they going to think of first when they need you again? Realize that by constantly reaching out to new homeowners and gaining them as clients for life, you are constantly building a bigger and better future for yourself and the community.

Isn’t it great to find an economic resource for staying in touch. I think Postcards are it. Savings, economy, and time are best accomplished through postcards. It even stands apart from other types of direct mail that requires more from you. To start your time; you don’t have to write lengthy catchy letters that you hope will capture attention. Most business owners struggle over what to write and lack the skills to communicate their business in a clever or convincing way. Plus, you don’t have to stuff envelopes! Which takes me to the next reason, economy. The postal rates for postcards over direct mail is less, sometimes half the cost. This can add up quickly depending on your mail out. Now add the cost of printing, paper, and labor, your savings using a full color postcard is still far less than direct mail and most advertising methods. They are like an open invitation to do business with you.  The more times it is read and seen by other prospects, the more clients you  have.

For great examples of Short Sale, Buyer/Seller, and Client For Life postcards look to QuickImpress.com. They have lowered their prices which makes postcard marketing even better! Here’s to your success.

Right here in the good ole American mainstream culture, the following colors are associated with certain qualities or emotions:

Red –excitement, strength, sex, passion, speed, danger.
Blue –(listed as the most popular color) trust, reliability, belonging, coolness.
Yellow –warmth, sunshine, cheer, happiness
Orange — playfulness, warmth, vibrant
Green — nature, fresh, cool, growth, abundance
Purple –royal, spirituality, dignity
Pink — soft, sweet, nurture, security
White –pure, virginal, clean, youthful, mild.
Black –sophistication, elegant, seductive, mystery
Gold — prestige, expensive
Silver — prestige, cold, scientific

So how important is color? Consider these powerful facts from various marketing studies:

·         Color increases brand recognition by up to 80 percent.

·         Color improves readership as much as 40 percent.

·         Color accelerates learning from 55 to 78 percent.

·         Color increases comprehension by 73 percent.

·         Color ads are read up to 42 percent more than similar ads in black and white.

·         Color can be up to 85 percent of the reason people decide to buy.

It’s very important to know which emotions will trigger your target audience to buy your product or service. To accomplish this goal takes a combination of attributes. Images and colors are the quickest way to draw a consumer in. In our quick paced society, you have three seconds max to make people pause and notice you. Seldom is that accomplished with words only. Another study found these interesting facts:

92%  Believe color presents an image of impressive quality
90%  Feel color can assist in attracting new customers
90%  Believe customers remember presentations and documents better when color is used
83%  Believe color makes them appear more successful
81%  Think color gives them a competitive edge
76% Believe that the use of color makes their business appear larger to clients

Whether a person knows it or not, a certain color will trigger a certain response. If you want their response to reach out to you, know your colors and their related response. Display your brand color to all members of your community. There is no future for your brand unless it has support, and that means getting your brand recognized by everyone. Try it with Postcards!

Lastly, you need emotionally responsive words. They are important, but should never stand alone. There are words that generate an emotional response. Applying emotionally responsive words to your marketing products will increase your sales, but should never be taken out of content.  Keep in mind industry specific information that applies to your products/services, and make sure your offerings fall in line with your industry. Failure to do that will destroy your credibility and reduce the trust you are trying to build.

Many of you know QuickImpress and they just updated their look and incorporated the science of color. They will soon add a beautiful art gallery to indulge your senses. Your marketing efforts are the first or last that a consumer knows of you. Make it good and make it memorable. Here’s to your success.

Whatever the catalyst, the lender wants to hear from the borrower just what happened to cause them to be in the financial situation they are in.

If the bank is going to consider taking a short sale, they need to be convinced that something drastic has happened to the borrower that will make it impossible for the borrower to recover and that it is in the bank’s best interest to accept a short sale on the defaulted mortgage. The following is an example hardship letter (Of course details change according to each Distressed Homeowner).

DATE:                                                                ACCOUNT NUMBER:

BORROWER                                                     AGENT CONTACT (LENDER)

PROPERTY ADDRESS_______________________________________________________________________

RE: HARDSHIP LETTER

We have purchased our family’s home in 2002. At this time we had the income to support the mortgage.

Since then, as you know, our country has experienced one the biggest housing market crashes in history. This, combined with the rising food and gas prices and current slowdown in the economy, has affected our ability to pay our bills on time.

Our adjustable interest rate mortgage payment has increased from ($) to ($) since we first purchased the house making it especially hard to keep it current. And in the last couple of years our home has lost about (55%) of its value making it difficult to refinance it since the equity we once had is now gone.

In early 2007 my father was diagnosed with cancer and need substantial medical support which included a nursing home which was all very expensive. He has since passed away in October of the same year and my husband lost his job and has since taken a significant cut in pay. We love our home and neighborhood and do not want to lose it, but we have come to realize that we can’t afford it any longer.

With our combined incomes of only $40,000 annually and by exhausting all of our savings, IRA’s and college funds, we were able to keep up with our mortgage and stay current until June 2008. Since then, we have no longer been able to keep up and tried to get partial payments, payment plans, and to refinance; which were denied on all account. In August of 2008 we put our home up for sale with (Agent Name and Brokerage) who specializes in pre-foreclosure properties and short sales.

At this point we are trying to avoid foreclosure and/or bankruptcy and would like to discuss with you the possibility of getting a (short sale, loan modification, refinance, repayment plan, reinstatement, forbearance, deed in Lieu) that could be beneficial for both parties. I know that a foreclosure would affect me for years to come, I ask that you please assist me in avoiding this.

Enclosed, please find copies of the our financial statements. (include documents that offer proof of financial hardship: Copies of any unpaid bills and/or late notices you have received in the last 6 months. Including: credit cards, car payments,…Past 2 months of Proof of Income. Including: paycheck Stubs, social security,… Last quarter’s profit and loss statement if self-employed, Past 2 years of income tax returns, and last 3 months of bank account statements.)

We truly appreciate any effort you can make to help our family through this situation.

I/we, (Home Owner Name/Co-signer Name), state that the information provided above is true and correct to the best of my/our knowledge.

Sincerely,

Obviously short sales are more difficult than your average buy/sell, but if agents want to maintain or grow a successful business, learning how to work a short sale is vital. It’s not going away anytime soon. We still have another huge hurtle when the adjustable rate mortgages flex their muscle in the coming years. To see a list of 27 documents every Short Sale Packet must have just click on the image below.

Your marketing efforts are the first or last that a consumer knows of you. Make it good and make it memorable. Here’s to your success.

If your marketing activity doesn’t include postcards, you’re overlooking a highly effective and very low-cost sales tool. Here are 10 reasons postcards should be part of your marketing program…

1. Postcards Work for Any Business, but they are highly effective for the Real Estate industry.

2. Using Effective Custom Cards is Simple and Uncomplicated
Postcards usually work best when the message is brief and the postcard looks at first glance like a message from friend. Here is an example:

3. Printing Postcards is Easy and Inexpensive
After choosing your custom card, your next step is simply to choose how many you wish printed. Usually, your cards will be in the mail and on their way to you within 48 hours.

4. There’s a Special Low Postage Rate for Postcards
You can send any quantity of postcards by First Class Mail in the US for only 23 cents each. The only requirement is that your postcards must be at least 3 1/2 x 5 inches but no larger than 4 1/4 x 6 inches.

5. Postcards Almost Always Get Read
Because postcards are delivered “ready to read” most folks will read it, even those who speedily throw direct mail away.

6. Postcards are effective for Generating Web site Traffic
Remember that a postcard is used to stay in touch with and drive people to you, not as a sales pitch. Use your postcards to generate leads not sales. You are the salesperson and can close the deal when they call or email you.

7. Postcard Multiply Themselves
Postcards are like small billboards. They are often hung on a refrigerator or given to friends and family, providing more bang for your buck!

8. Markets Can Be Precisely Targeted With Postcards
Once you have a list of consumers who have similar needs you can send them information on the postcard that is relevant and personalized. This creates the scenario that the recipient thinks you are talking directly to them. For instance, working short sales is very lucrative and will be for several more years. It makes sense to send “Foreclosure” or “Short Sale” postcards to neighborhoods that are in distress. You can also send clever “Buyer” postcards to high rent areas that reminds them of the new buyer tax incentive and great deals on homes.

9. Marketing Results Are Easy To Measure
Postcards normally generate over 90 percent of their total response within 7 to 10 days. This enables you to quickly and accurately evaluate the results of a postcard campaign.

10. Postcards Conceal Your Marketing from Competitors
Most advertising uses mass media where your competitors hear or see what you are doing – and copy it. Postcard marketing is personal. Only you and your prospects are aware of what you are doing.

Postcards are a very cost-effective and efficient way to market your business. Combine that with their ability to generate a high response rate, and you have a tremendously powerful marketing tool. Here’s to your success.

     The number one reason a short sale is delayed is due to not providing all the information the lender requests to process a short sale. The file will sit abandoned until all the documents are received. This is another reason why Loss Mitigation Departments are responsible for handling 200 or more files a month. Borrowers submit incomplete packets and the loss mitigations put their file at the bottom of the pile.
      To avoid this costly and sometimes fatal error, review the checklist below. It may be helpful next time you are submitting your file to the lender. Some of the items below are for your records only, but necessary in obtaining all the information you need for your Short Sale Lender Packet.
      Here are the 27 documents you need:
Typical
1. Bank Statement
2. Bank Stubs
3. Listing Agreement
4. Tax Returns
5. Paycheck Stubs
6. Buyers Approval Letter
7. Purchase and Sale Contract
8. Preliminary Closing Statement
Letters
9. Short Sale Disclosure
10. Escrow Letter
11. Cover Letter: This is the introductory letter that you send along with your package outlining the transaction to the lender. Each lender would receive their own proposal.
12. Hardship Letter: The Hardship Letter should explain how the seller got into financial trouble and must convey the basic message that the seller can’t make payments AND does not foresee any way that they will ever again be able to make any payments.
Disclosures
13. Short Sale Disclosure
Forms
14. Authorization to Release Form : You need this initial document. If you do not get this signed you can’t speak to the bank at all.
15. Homeowners Financial Worksheet: This should be very comprehensive. I have developed a 4 page worksheet that lenders will appreciate.
16. Damage and Repair Photo Notes:  If the property needs repair this will influence the bank. You should supply the repair estimate with pictures and general contractor estimates that the normal homeowner would pay for these items…not necessarily our costs.
17. Property History View
18. Estimated Carrying Cost
19. Market Statistics
20. Listing History                                  
21. Comps
22. Marketing Photo Notes
23. Price Change Log
24. Repairs and Property Damage Form
Checklists
25. Homeowner’s Document Checklist
26. BPO Appointment Checklist: You may have learned how critical it is that we influence the BPO. The lender will hire an appraiser or a realtor to go to the house and determine the value of that property. Make sure you are the contact person who meets them at the house and lets them in.
27. HUDS: The HUD-1 Net Sheet shows how the money is to be dispersed at closing. The lender looks for recognizable and unacceptable red flags, such as: excessive commissions in this transaction, any cash going to seller etc. Make sure you understand how the HUD is supposed to be prepared.
     Obviously short sales are more difficult than your average buy/sell, but if agents want to maintain or grow a successful business, learning how to work a short sale is vital. It’s not going away anytime soon. We still have another huge hurtle when the adjustable rate mortgages flex their muscle in the coming years.
     I hope this list is helpful. I’ve heard from many agents that simply having a list for reference is helpful. However, if you don’t want to re-invent the wheel I have the Letters, Forms, HUD’s, Disclosure, and Checklists available as a download. These are proven effective. I priced similar packets on the web where they are asking hundreds of dollars. My business structure is centered around our new economy and streamlined so that agents who need this information can take advantage of it. Priced at $29  it’s a great resource that could make a difference in the success of your next Short Sale.
     Remember that every short sale is different, and will have different guidelines, but if you use this list as a guideline you should quickly, easily, and accurately complete a short sale packet, and have the lender review your file.

Your marketing efforts are the first or last that a consumer knows of you. Make it good and make it memorable. Here’s to your success.

     Postcards are a key tool in today’s world of economic, effective,  marketing.  A brief message or enticing offer combined with captivating design and graphics will generate sales, inform customers, and increase brand awareness.  Your marketing efforts are the first or last that a consumer knows of you. Make it good and make it memorable. Here’s to your success.