Sunday, July 10, 2005

Door Knocking on Saturday

Yesterday I went door knocking on several prospects that I have had in my file for the last 2 months. The purpose is to get rid of any fear in knocking on someone's door to speak with them about their foreclosure situation. The results were:

81xx 17ave - spoke with HO (homeowner) and they were visibly upset after several knocks, the HO was agitated with the multiple knocks and said, "I don't want to be a XXXX but..." SLAM the door! Alot of the dust moved from it. The HO gave feedback about the following - 1. lack of business cards and 2. lack of business address (as I previously proposed meeting at a Dunkin Donuts to outline a plan of attack)

87XX 17ave - spoke with tenant who was a very good guy who was sharing alot of info about where the HO was, I shared with them a little about the situation and asked him about the HO, I saw the HO and spoke with him. The house was newly renovated 2 months ago and is now being rented with negative cashflow. HO has import / export business that is viable. HO just was disorganized in paying the mortgage. Good person.

7x Bay 2x - HO wasn't home and dropped off a letter to his bro in law. Bro in law is a good guy working in NYS Sanitation.

2xx Bay 3x - HO wasn't home and dropped off a letter to followup.

5x Bay 3x - talked with neighbor regarding the reason for vacancy, the issue is it is in court for 2 parties fighting over ownership. 1 party has ownership due to unethically having the previous owner deeding property in the will before being deceased. The remaining heir is fighting for full rights to the property.

Lessons Learned:
* My style lends itself that I have business cards. Many of the HO in preforeclosure want to feel that there is someone reliable and professional to help with their situation. Female HO are very volatile.
* Better marketing collateral - business cards, letters, etc... (it is amazing how small things can build or destroy credibility in front of the client)
* Door rings no more than 3x. More than that it becomes a hard sell. If the owner is hiding then leaving a letter w/ business cards seem to be the best way.
* Fear is to be tamed. I don't feel it can be totally eliminated for myself. It is a defensive mechanism but instead I concentrate on the vision behind the vision to assist HO in preforeclosure and at the same time get paid for it. Building the system.

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