REI Marketing Tips

I spent a few days this past weekend at Preston Ely’s FreedomSoft event.  It was a lot of fun, great networking, and I got to meet a bunch of great people.  Actually before FreedomSoft even began, we had a small Mastermind at our home in Encinitas.  We had Darrel from here in San Diego, who is absolutely KILLING IT with short sales right now.  We also had Ed from IL, and Tim and his wife Suzanne from TX.  Also joining us was Minx from NYC, one of my coaching students who started with me last year.  Here’s a picture of us:

San Diego Mastermind 2010

We all shared a lot and learned a ton from each other, and came away with specific action plans to grow our business in 2010 to new heights.

The purpose of this blog post however, is to give you some insight into what is the best way to convert a lead into an appointment, and then into a deal.

I have a new realtor on my team, and I recently got a lead from one of my websites.  I had the realtor qualify the deal over the phone, and set up the appointment.  I had put him through some training, and I explained to him that you should ALWAYS email the client the paperwork in advance of the face to face meeting.  I do this because:

1. Short sale packets can be extremely large and overwhelming for someone to sit down and sign all at once, right away.  Letting the homeowner review the documents in advance can help you close the deal on the first in home visit.
2. I tell the homeowner that they should review all of the documents in advance of my arrival.  That way I can clarify any questions they have either before, on the phone, or once I arrive.  If I send the documents in advance, it removes the “I want to think about it” objection (more on how this isn’t even a legitimate objection in California)
3. The homeowner needs to gather all of their documents such as paystubs, bank statements, tax returns, etc.  By giving this to them as a “homework” assignment a few days before the meeting, they have an opportunity to gather all of this information in time, so you can submit a complete, accurate short sale packet the first time.
4. Even if the homeowner DOESN’T review the information, when I arrive for the appointment, I am in much more control of the situation, because I’ll just assume that they reviewed everything and printed it all out.  In fact, if the homeowner hasn’t looked at anything, it allows me to close the deal that much more easily because of the homeowner’s feeling of obligation to the time and effort we spent preparing the documents to send to them.

So here’s what happened: my realtor said that he spoke with the homeowner, but he DID NOT send him the short sale documents in advance.  I told him that when he shows up for the meeting with a huge stack of paperwork, it could be very intimidating for the homeowner to sign everything.

So my agent heads out there with paperwork in hand, but the homeowner has never seen it in advance.

So guess what happens?

The agent arrives, the homeowner says “I want to think about it” and he doesn’t pick up the paperwork.  My agent just wasted time driving to an appointment and then leaving with no deal in hand!  What a waste of everyone’s time.

I think that this convinced him to believe me and he’ll now start sending the short sale packet to the homeowner in advance!

My advice to you, moving forward, would be to send the package to the homeowner in advance.  Here’s a little script you can use when on the phone.

“Well Mr. Homeowner I look forward to meeting you on Thursday at 4pm at 123 main st in San Diego.  Now what I’m going to do it to send you a list of all of the documents that you’ll need to collect.  Things like paystubs, bank statements, etc.  Don’t worry about writing it down now, I’ll email you a list.  I’ll also email you all of our agreements.  I would like for you to print them out, and review them BEFORE I arrive.  If you have any questions, I’ll be able to answer them in advance, on the phone, or I can answer them for you this Thursday at 4pm.  This way, our meeting time will be much faster, and you’ll have had a chance to review everything before our meeting.  Doesn’t that sound like a good idea and the best use of our time, Mr. Homeowner?”

Now going back to my realtor, who didn’t send the package in advance, here is one sales strategy that you can employ, and how I would have handled that situation.  Here in CA the homeowner is given a 5 day right of refusal.  This means that up to 5 days after signing the deal, they can change their mind and back out.  So had I have been on the appointment, I would have closed the deal by telling the homeowner:

“Mr.  Homeowner, I know you want to think about this.  In fact, so do I, and so does the state of California.  You see, by law, you get a “5 day right of refusal.  That means that even after you sign all of these documents today, you have 5 days to changes your mind, and cancel.  We both know the foreclosure clock is ticking, and I’m out here anyway.  So to make best use of our time, and the time that is ticking with your home headed towards foreclosure, let’s get all of these agreements executed today.  That way, if you decide in the next days you want to cancel, no problem.  Otherwise, we’ll have to come back, and we’ll lose all of that time.  I’m sure you’ll agree that sounds like the best plan to help stop this foreclosure as soon as possible.”

Well there you have it.  But I would like to hear back from you.  Please tell me what state you’re in, and what you do: send the paperwork in advance, or show up with it and try and close the deal right then and there.  I’d love to hear what you’re doing and what’s working for you.

Have you ever received a lead for your preforeclosure investing business from the Better Business Bureau?  We have!  In fact, we’ve experienced an uptick in leads from them recently, and a new lead as fresh as this morning led me to write a blog post about it.

Unfortunately for those of us in the foreclosure prevention industry, there’s been more than a few bad apples who have spoiled the bunch.  Foreclosure scams have made things difficult for many honest, legitimate investors who run their business with nothing but integrity.

One of the things that I suggest to new investors is to immediately get their business approved with the Better Business Bureau.  It does cost money ($515 last time I checked) and does take time to get approved (1 year for online accreditation) but it is WELL worth it.

If you’re a new investor but you can tell a homeowner that you have a “Perfect Track Record” with the Better Business Bureau that is just HUGE for your business!

Not set up with the Better Business Bureau yet?  No problem!  Did you realize that when you subscribe to The Foreclosure Marketing Machine you instantly become part of the SaveMeFromForeclosure.com “family” and can now tell homeowners that SaveMeFromForeclosure.com has a perfect track record with the Better Business Bureau and an “A” rating? It’s HUGE helping you close deals!

Want to INSTANTLY get a foreclosure prevention website, a perfect track record with the BBB, outsourced loan mod and short sale partners, use of a new professional video, “done for you” press releases, exclusive access to leads, new free reports, advertorials, door knocker scripts plus a whole lot more?  Check out www.TheForeclosureMarketingMachine.com right now and you’ll be amazed the program that we’ve put together for you!  In fact, not only will the BBB exposure help generate more leads for you, but you’ll get EXCLUSIVE access to all of the leads in your county, PLUS we’ll even give you 100 FREE leads every month of homeowners who are either 30, 60 or 90 days past due on their mortgages (your choice).

There has never been a better time to set up your business for success in 2010, and reserving your very own SaveMeFromForeclosure.com territory is one of them.  You can check out everything right now, including a very special “case study” video right now at www.TheForeclosureMarketingMachine.com.

No matter what, your business, especially in the world of preforeclosures, needs an independent 3rd party to verify its validity to prospective clients.  What are you doing to address this?  You can build it yourself (you should), or you can have it done instantly for you (you should do this as well).

Wednesday I had the pleasure of having lunch with California’s top short sale attorney.

He was kind enough to let me pick his brain on certain nuances that come up in California.  More importantly though, he gave me some great insight on what is going on around the country, not just in California.

I took a few pages of written notes, and even more mental notes, but here are a couple of big take-aways that I wanted to share with you:

1.  Deals you find by yourself are best, but better if you take care of agent out of the goodness of your heart.
We discussed at length doing deals where the property is already listed, and we both agree that trying to convince many agents that our “creative” way of doing short sales can often be a frustrating experience, and a waste of time.  That’s not to say that it can’t be done, but we both agreed that if you have good marketing, and can get to the seller directly, you’re in a much better position.  One idea he shared with me was to allow a realtor (one that you have a good relationship with, or one that you’ve been trying to court into getting all of his listings and buying them) is to let them represent you on the transaction.  The banks are used to paying a commission anyway, so why not throw someone a “bone” and put some money in there pocket.  This idea was taken a step further by even suggesting to the homeowner that they might want representation, and providing them with an agent (referred by you of course) to put a smile on the face of a couple of agents…which could lead to a lot more deals for you!

2.  Keep your paperwork consistent
We had a standard practice in our business of using one contract for deals where the property was NOT listed, and another one for listed properties to keep the agents happy (by seeing a familiar contract).  He pointed out to me that I’m making things more confusing for our acquisition specialists by making them have and complete 2 different sets of contracts.  “Standardize” he said, and make the contracts work for all transactions, realtors involved or not.  Made sense, and we made that change in our business today.  (NOTE: some of you might be thinking “you sure are a bonehead Justin” and while that might be true, I’m far from perfect, and learn new things in this business every day.  I have no problem admitting if I’ve made a mistake or not doing something the best/smartest way possible).

3.  Pay your “A” listing realtor well
If you’re going after listed properties, pay the “A” realtor well.  They’re getting paid on the discounted price, so why not pay them 4% instead of the “standard” 3%.  This will show the “A” listing agent that you’re serious about putting money in their pocket, and make them more motivated to work with you in the future.  If you pay 4% realtors will be excited about working with you, and the “word” will get out that you’re a serious investor who takes care of agents

Those 3 ideas were just the TIP OF THE ICEBERG…

We discussed a TON of other things, and we finished lunch with a LOT more to discuss.  Fortunately for you, I’ve arranged for a special training with this attorney.  It’s not until March 31st, but go ahead and block out that time in your calendar NOW.  We’ll be covering lots of great information, and of course I’ll remind you closer to the date.  For now, put Wednesday, March 31st at 6pm PST/9pm EST in your calendar.

Ever heard of “Ning”. It’s social networking site.

The difference however? It can be VERY niche specific.

And that’s what I’ve done with it (or at least hope to do with it).

You see, I get asked ALL of the time, from investors, “Justin, where can I find an agent who is investor friendly? One who “gets” short sales, and back-to-back closings?”

Well, since we have a pretty decent sized community here at REIMarketingTips I’m guessing that I have a bunch of people who are both realtors AND investors, and who “get” the way we do short sales. I set up a Ning so that whether you’re an investor, or an agent, you can set up a profile, and hopefully find someone in your geographic area to work with.

I also figured that the Ning could be PARTICULARLY effective for those of you who get out of state deals, and need a local realtor to help you get a property re-listed and sold.

Anyway, if you’re an investor looking for more realtors to help you with your deals, or you’re an investor-friendly realtor looking to get more listings, head on over and create a profile, and may we all network and profit together.

If you’re a realtor, head over, create a profile (takes 3-4 minutes) and then let people know what areas you can pull comps for and set up listings for.

If you’re an investor, post what areas you’re investing in, and where you’re looking for realtors to help you with your listings.

If you’re working on a deal with Indy Mac, or you’re curious about lender buyouts and the FDIC really work, watch the short video below:

Feel free to leave a comment, I’d love to know what you think.  For me, in a word, I’d describe it as “sickening” (especially knowing how Indy Mac has rejected certain short sale offers)

Last month I said that I would be writing updates as to how exactly I was rebuilding my preforeclosure business for scratch in a brand new market, San Diego, CA.

Well I have been more on the “taking action” side of things rather than writing blog posts with updates (sorry).

But this Thursday night, I’m going to reveal exactly what I’ve been working on since I arrived here 1 month ago, and show you exactly how you can put the very same things into your business.

I’m hosting  a very special webinar training (with NO outside guests) revealing exactly what I’ve been doing in my business over the past 30 days, and how it’s already generating leads for me.  This special training will take place this Thursday evening, February 11th, at 5pm PST/8pm EST, and you’ll need to register for it right here.

Here are just a FEW of things that I’ll be covering on this very special training:

- The new Free Report that we just wrote that pre-sells your prospects for you (you actually overcome all of their objections by getting this free report in their hands)
- The “advertorial” style ad we use to get homeowners to download this free report in droves
- The simple 1 page website that we use to get the homeowners to download the free report (you can rip mine off, please!)
- How we use the telephone to screen out the tire kickers and lookie-lous (to get only the most qualified leads calling)
- The secret “door knocker” leave behind I’m using to get more eyeballs on this ad
- The press release template that we use in our local market to get more eyeballs on this ad and simple 1 page website

- The new sales letter I wrote for homeowners who are facing foreclosure (and why it’s my “best yet”)
- The two golden bonuses I am using to help me close the deal
- The secret way that I am delivering this letter (without paying for postage)

- The fax cover page I am using to blast realtors and get them to send me their short sale deals
- The “Guarantee” I put in this fax to skyrocket the response rates (and weed out the “you can’t do that” realtors)

Register right now for this training at 5pm PST/8pm EST this Thursday night, February 11th:

https://www2.gotomeeting.com/register/354124146

On this special training on Thursday night at 5pm PST/8pm EST I’ll also reveal:

- The new integrated web submission form and telemarketing script I created for my telemarketer (all online)
- The phone number retrieval AND “Do Not Call” tool I’m using to get phone numbers for prospects in a matter of minutes
- The place where I found an EXPERIENCED telemarketer for only $3/hr

- The door knocking script I’ve given my door knocker (chock full of the most common objections and how to overcome them)
- The best place to find your door knockers (so you don’t have to do it yourself)
- The one thing that your door knockers simply MUST do each time they go out for you (to maximize efficiency)

All of these tools have ALREADY helped drop short sale deals into my pipeline, and I’ve only been living in San Diego for 4 weeks now

Join me as I reveal all of the juicy information LIVE this Thursday night at 5pm PST/8pm EST on a very special training
call.  I invite you to join me and rip off, copy and steal all of my best stuff on this special training!

I’ll “see” you on call this Thursday night!

Dreama and I got the final report back on all of the people who purcashed FreedomSoft last night.

We decided to film a quick video, with a special guest, to announce the winners of the two contests.
Without further ado, here are the winners of the 2 contests:

We had an absolute blast during the contest, and congratulations to everyone who entered.

Dreama and I really looking forward to meeting all of the FreedomSoft Bonus prize winners here at our Mastermind in sunny San Diego, CA.

Also, special congratulations to Ken Hong, who selected www.unif2004.org as his charity of choice for our donation to the Haitian Relief Effort.  Dreama and I are proud to make a donation from SaveMeFromForeclosure.com

I just got word that FreedomSoft is closing its doors on Tuesday night.

Dreama and I talked about it, and we’re going to raffle off 1 round trip plane ticket to San Diego for one lucky person who gets FreedomSoft through our special link before Tuesday night.

This is in addition to the first bonus package that we announced on January 20th (note the first 40 seconds of the video to see our place in San Diego:

Then we added an EXTENDED bonus package on January 21st:

Then I proved to you (on January 3rd) with a check for $2,200 that I earned without EVERY talking to a homeowner, that I’ve been using the SAME outsourcers that you get with FreedomSoft for my loan modifications:

Well now Dreama and I want to add the chance at winning free round trip airfare out here for Preston’s VIP event and our private 1 day Mastermind. All you have to do is pick up a copy of FreedomSoft through our special link.

Here’s a recap of the bonuses for you 1 last time:

New, Improved Amazing, Insane Bonus #1:

Private Networking & Mastermind Event at Justin & Dreama’s Ocean Front Beach Home.

When you purchase the Platinum (VIP) version of FreedomSoft by visiting http://www.REIMarketingTips.com/freedomsoft Preston is going to invite you to 3 day FreedomSoft event in March in San Diego, CA. Justin & Dreama are going to host a special VIP Mastermind event at their private ocean front beach home for people to come and mastermind. This special 1 day Mastermind event will be held the day BEFORE the FreedomSoft event begins (and if you missed out the video of how amazing the location of the mastermind is, watch the first 40 seconds of the first video I did):

• Learn what’s working right now
• Learn what’s not working right now
• Discover how Justin & Dreama travel all of the time and enjoy life
• Meet other like-minded investors, superstarts, and “A” players
• Hot tub, swim, surf, cocktail hour and bonfires
• Exclusive access to pick Justin & Dreama’s brain about how they have built a real estate investing business in 3 different markets
• Plus much, much more

New, Improved Amazing, Insane Bonus #2:

Waived Set-Up Fee For Your Very Own SaveMeFromForeclosure.com County

When you purchase the Platinum (VIP) version of FreedomSoft by visiting http://www.REIMarketingTips.com/freedomsoft Justin & Dreama will WAIVE your $2,497 set-up fee to get your very own county at SaveMeFromForeclosure.com. To see exactly what is included in your SaveMeFromForeclosure.com county please visit http://www.TheForeclosureMarketingMachine.com. We have NEVER made this offer before, so this is a fantastic chance for you to grab this.

New, Improved Amazing, Insane Bonus #3:

Get entered into a draw to win a brand new Dell Inspiron Netbook computer (Winner to be announced after FreedomSoft closes, which is Tuesday at midnight).

New, Improved Amazing, Insane Bonus #4:

For every single order place at http://www.REIMarketingTips.com/freedomsoft Justin & Dreama will make a donation to the relief effort in Haiti. To make things even more interesting, if you are the FIRST person to order after this video is placed on the Internet, just forward us the name of the charity of your choice, and we’ll put EVERY single donation that we make to the charity that you chose!  UPDATE: Congratulations to Ken Hong from Sacramento, CA for getting to decide where everyone’s donations will be going.  Ken decided on www.unif2004.org.  Great Choice Ken!

New, Improved Amazing, Insane Bonus #5:

Get entered into a draw to win free round trip airfare tickets to San Diego to come out for our 1 day Mastermind PLUS Preston’s FreedomSoft training event and party.  (Winner to be announced after FreedomSoft closes, which is Tuesday at midnight).

DISCLOSURES:

• If you buy Freedsoft through my affiliate link, Preston pays me a commission
• To qualify for the bonuses, you MUST order the Platinum (VIP) version of the software.  If you purchase the GOLD or SILVER level of the software you WILL NOT be eligible for my bonuses
• Once you activate your SaveMeFromForeclosure.com county you will NOT have to pay a set-up fee, however, there is a monthly fee associated with each county that you will have to pay.  To see a list of available counties, please visit www.TheForeclosureMarketingMachine.com

Dreama and I have decided to up the ante for anyone who orders FreedomSoft through out special link at www.REIMarketingTips.com/freedomsoft. In addition to the 2 original bonuses, we’ve added 2 more bonuses. Watch the video to find out exactly what they (you could win a new computer, and do something charitable!)

(Actually, before you watch the video, make sure that you grab the FREE business blueprints that Preston & Pete giveaway right here. I’ve personally been through this video and had a few “ah-ha” moments and implemented things into my business already. Get the blueprints here, if you haven’t already)

New, Improved Amazing, Insane Bonus #1:

Private Networking & Mastermind Event at Justin & Dreama’s Ocean Front Beach Home.

When you purchase the Platinum (VIP) version of FreedomSoft by visiting http://www.REIMarketingTips.com/freedomsoft Preston is going to invite you to 3 day FreedomSoft event in March in San Diego, CA. Justin & Dreama are going to host a special VIP Mastermind event at their private ocean front beach home for people to come and mastermind. This special 1 day Mastermind event will be held the day BEFORE the FreedomSoft event begins (and if you missed out the video of how amazing the location of the mastermind is, watch the first 40 seconds of the first video I did):

• Learn what’s working right now
• Learn what’s not working right now
• Discover how Justin & Dreama travel all of the time and enjoy life
• Meet other like-minded investors, superstarts, and “A” players
• Hot tub, swim, surf, cocktail hour and bonfires
• Exclusive access to pick Justin & Dreama’s brain about how they have built a real estate investing business in 3 different markets
• Plus much, much more

New, Improved Amazing, Insane Bonus #2:

Waived Set-Up Fee For Your Very Own SaveMeFromForeclosure.com County

When you purchase the Platinum (VIP) version of FreedomSoft by visiting http://www.REIMarketingTips.com/freedomsoft Justin & Dreama will WAIVE your $2,497 set-up fee to get your very own county at SaveMeFromForeclosure.com. To see exactly what is included in your SaveMeFromForeclosure.com county please visit http://www.TheForeclosureMarketingMachine.com. We have NEVER made this offer before, so this is a fantastic chance for you to grab this.

New, Improved Amazing, Insane Bonus #3:

Get entered into a draw to win a brand new Dell Inspiron Netbook computer

New, Improved Amazing, Insane Bonus #4:

For every single order place at http://www.REIMarketingTips.com/freedomsoft Justin & Dreama will make a donation to the relief effort in Haiti. To make things even more interesting, if you are the FIRST person to order after this video is placed on the Internet, just forward us the name of the charity of your choice, and we’ll put EVERY single donation that we make to the charity that you chose!

DISCLOSURES:

• If you buy Freedsoft through my affiliate link, Preston pays me a commission
• To qualify for the bonuses, you MUST order the Platinum (VIP) version of the software.  If you purchase the GOLD or SILVER level of the software you WILL NOT be eligible for my bonuses
• Once you activate your SaveMeFromForeclosure.com county you will NOT have to pay a set-up fee, however, there is a monthly fee associated with each county that you will have to pay.  To see a list of available counties, please visit www.TheForeclosureMarketingMachine.com

FreedomSoft is the lastest and greatest software to hit the planet and was developed by Preston Ely from Real Freedom Properties. I’ve put together a “NEVER DONE BEFORE” bonus package that you’ll get if you pick up a copy of FreedomSoft through my link.  NOTE THAT YOU MUST SIGN UP FOR THE PLATINUM (VIP) version of FreedomSoft to qualify for my bonus. Watch the video below to get the details:

FreedomSoft launches to the public on Thursday, January 21^st at 12:07pm EST (9:07am PST). When you purchase the Platinum (VIP) version of FreedomSoft through my special link at http://www.REIMarketingTips.com/freedomsoft you’ll qualify the following amazing, insane, bonus package:

Amazing, Insane Bonus #1:

Private Networking & Mastermind Event at Justin & Dreama’s Ocean Front Beach Home.

When you purchase the Platinum (VIP) version of FreedomSoft by visiting http://www.REIMarketingTips.com/freedomsoft Preston is going to invite you to 3 day FreedomSoft event in March in San Diego, CA. Dreama & I are going to host a special VIP Mastermind event at our private ocean front beach home for people to come and mastermind.  This special 1 day Mastermind event will be held the day BEFORE the FreedomSoft event begins:

• Learn what’s working right now
• Learn what’s not working right now
• Meet other like-minded investors, superstarts, and “A” players
• Hot tub, swim, surf, cocktail hour and bonfires
• Exclusive access to pick our brains about how they have built a real estate investing business in 3 different markets
• Discover how we travel all of the time and enjoy life
• Plus much, much more

Amazing, Insane Bonus #2:

Waived Set-Up Fee For Your Very Own SaveMeFromForeclosure.com County

When you purchase the Platinum (VIP) version of FreedomSoft by visiting http://www.REIMarketingTips.com/freedomsoft we will WAIVE your $2,497 set-up fee to get your very own county at SaveMeFromForeclosure.com. To see exactly what is included in your SaveMeFromForeclosure.com county please visit http://www.TheForeclosureMarketingMachine.com. We have NEVER made this offer before, so this is a fantastic chance for you to grab this.

DISCLOSURES:

• If you buy Freedsoft through my affiliate link, Preston pays me a commission
• To qualify for the bonuses, you MUST order the Platinum (VIP) version of the software.  If you purchase the GOLD or SILVER level of the software you WILL NOT be eligible for my bonuses
• Once you activate your SaveMeFromForeclosure.com county you will NOT have to pay a set-up fee, however, there is a monthly fee associated with each county that you will have to pay.  To see a list of available counties, please visit www.TheForeclosureMarketingMachine.com