List Source pre foreclosure - very small numbers

[Declan Shanaghy]

I created a pre foreclosures list in listsource for my local area (SF Bay east area) I made it very specific - sfr,duplex,tri,quads, auction date within 2 months. 

It filters down from 1.5 million to 57 addresses. Now, even with the given that these 57 people should be highly motivated I'm wondering if it's going to pay off. This is my first time endeavor and I'm planning on setting up a website with squeeze page and call tracker to help out since I'm also working full time. So there are other expenses involved.

What are your thoughts on on the potential?

[Sean OToole]

I ran some quick queries using a service I'm very familiar with. ;-)

Here's what I found in Preforeclosure (meaning ACTIVE Notices of Default, which have not yet been cancelled, sold, or had a notice of trustee sale filed - something you can't do in Listsource).

Alameda County = 451

Contra Costa = 470

San Joaquin = 375

Solano = 262

Added targeting criteria = Preforeclosure & SFR + Condo + MFR2-4:

Alameda County = 427

Contra Costa = 458

San Joaquin = 341

Solano = 250

And for giggles (and to get really targeted), I added Absentee Owner that does not live in the same county, 30%+ Equity, Owner Age > 65 in addition to Preforeclosure & SFR + Condo + MFR2-4

Alameda County = 3

Contra Costa = 3

San Joaquin = 2

Solano = 4

I actually prefer creating lots of small lists (under 100!) that are very targeted. Makes it sooo much easier to write copy that is very specific to their situation and resonates. Especially because I know everyone else is just sending a generic blanket yellow letter saying the same thing with the only differentiator being their name and phone number.

Much better to have ten segments of lists under 100 getting individual messaging specific to their situation than just one list of 1,000 all getting the same message. Easier to manage smaller lists across channels with mail, phone, social, etc. The more you target, the more money you save and get better results.