Thread: Foreclosures and short sale help

I dont want to bring bad news, however going that route will leave you compeating with thousands of other agents. Most of the websites are seeking upfront fees and wont deliver results. Most banks will not give an agent with no listings are sales, a home to sell without some special circumstances. They have plenty of agents with experiance to choose from.

Given your situation I would suggest taking over your wifes business or helping her.

Otherwise to generate your own leads ask your broker for help, ask your wife what she does, contact people you know and ask for work or just call expireds. Do what you can, you have some great motivation, I wish you luck.

Thanks for the reply, we dont have thousands of agents in our area our population is 97,000. I live in the Sierra mountains in a gold mining town. It is a tourist area, but brings a lot of buyers from the San Francisco area. I have worked off and on with my wife for the past 4 years doing mostly the work of getting ads in the paper, designing the flyers, and some paper work when she is overloaded. I am hoping that with your last REPLY my thread does not turn into a negative. There is a real estate agent in this area that has been working for the same amount of time as my wife. Within the last year he has managed to curb the market here in short sales. He has only worked for one broker for a short amount of time. They did not teach him, since it was the same place my wife worked. He learned this on his own and I am sure he is somehow generating leads specifically from the internet for short sales. I also believe he must be using a company that helps him find the clients that are close to needing a short sale for their home. I dont mean to be rude, but I was pretty clear in my thread that I was looking for websites that agents have used in the past that worked for generating short sales. I would also like to know the basic process of representing yourself as an agent to the banks for REO'S, I just need an idea on how it works and I will research the rest. I am sure that there are some agents out there that did this on their own, starting from scratch and have some very positive and instructive information. I am not interested in the negative aspects of Real estate. I work as a Gen. Contractor and have seen the real estate market fall first hand. I have watched my wife work 12 hours a day for the past 4 years, mostly as a taxi driver for people that are just looking for a tour guide in this area. I Know about the negatives of the market, but see positives and for me it is having information on short sales and Reo's. I am just asking for any websites people have used in the past that worked well for them. I also spent many hours looking up expired listings, stuffing envelopes with flyers I understand the points you have brought up, but really am not asking for my thread to go in that direction. I appreciate your reply, but am looking for a different type of information.I hope that a professional in the field of short sales and Reo's will answer this thread with some helpful website lead generating information. Thanks,

Hi there,
I might just have the thing for you. Check out your message inbox or just visit my website by clicking the link in the signature.

For the most part you are going to have to put in the work and make the contacts.

The best web sites are Equator and RES.NET

Equator is bank of america's web site, sign up for the free access don't pay them any money. Once again this will get your name out there. I know of people who have gotten listings by just doing this, but its rare, and they were already top producers.

To get REO listings, find out which bank has the most foreclosures in your area and call them. Best time would be Friday afternoon. Ask who handles their foreclosures and who they outsource to. Follow up and be consistent. Don't hassle the asset managers, they are busy. Don't call them on Mondays.

For short sales find who got "notices of default" and "pre-forclosure" warnings recently. I think it is available to the public through the local court house. Go there and ask.

I get this online with a local company and I cold call these people.

This is the most direct route.

If the property was in minimal time of foreclosure due, the only answer is a short sale. But the problem is, you can't define the right value that you want in the property.

If you can't pay the monthly installments of mortgage then you should consider yourself in short sales and foreclosure.If you want to avoid foreclosure and you don't have enough money to pay off all the amount then you have one option which is very daring one that is short sales of your property.

Originally Posted by Laurence.mex

For short sales find who got "notices of default" and "pre-forclosure" warnings recently. I think it is available to the public through the local court house. Go there and ask.

I get this online with a local company and I cold call these people.

This is the most direct route.

I have always believed that the best source of information is public record. A lot of businesses still use it (lawyers, chiropractors, etc.) Newspapers usually have a legal notices section and if your area is sufficiently modern enough, the county courthouse usually has civil dockets online. This may seem primitive and time consuming, but the information is fresh and hasn't gone through a bunch of other hands before you get it.
Good Luck!