What to say to a distressed property lead

[Daniel Claroni]

My fiancee and I have been "driving for dollars" and have been sending out mailers to properties that look neglected and/or just kind of look like crap compared to the neighborhoods they are in.

We just started this, but I am curious what is the best thing to say if I do get a call back from some of these people? Do I let it go to voicemail so I can get more details, or will that basically give up the lead? I work full time so I might not be able to answer during the work day anyways.

Some of the owners are out of state, but there are others that live in the property. Either way, I don't want to offend anyone by indicating their property looked crappy lol.

[Thomas J. Clifford]

I *DO NOT* have any experience with discussing distressed properties, so maybe take my 2 cents with multiple grains of salt...I DO, however, have experience with cold calling and door knocking for insurance sales, and I am a 10 year veteran 911 operator who has experience with communicating delicately!

I can't speak for this method of "prospecting," but maybe check what your voicemail message is. If it's your personal phone number, callers might be hesitant to leave a message - If your voicemail greeting says, "Thank you for calling ____________ (whatever you may have identified yourself or company as). I am sorry I missed your call - I'm likely working with another home seller in your area. Please leave a message and I'll be in touch soon!" they might be more likely to leave you a message. At the very least, if they called you I imagine that opens the door for you to attempt a generic text message back to that same number to attempt to continue the conversation....

As far as what to say if you DO get into a conversation with them, you can maybe say something to the effect of, "I'm particularly interested in houses in your neighborhood, because of __________(Location is good, close to a hospital, XYZ, blahblahblah). I really appreciate the fact you took the time to call!" And use that as a chance to do some phone screening as to whether or not they seem like a viable lead. You'll probably have to have some questions pre-thought out that helps you decide what you consider viable....I imagine then if you decide you want to look at the place, try to set up a meeting at the home...

That meeting is where you discuss how ugly their house is - lol! Of course, I wouldn't SAY that, but it gives you an opportunity to talk about the distressed look of the place. Talk about any projects they undertook while living there (complimenting THOSE). Also talk about things they may have wanted to upgrade in the property but never could. What made them call you - what kind of repairs are NEEDED - so on and so forth....By the end of the meeting, you both will have "itemized" the areas that need work, and that gives you a jumping off point with how low THEY are willing to sell for, and how justified you are when you give them an idea of how much you'd buy for...

The BP podcasts with Michael Quarles was great with this - He was on episode 77 where he discusses talking with these potential sellers with some finesse...He also was on episode 81 speaking more to marketing strategies as a whole. They are both fresh in my mind since I listened to them last week and again today!

Again - take what I say with a grain of salt - But if they're calling your phone because they are responding to your mailer, you already know that they're at least a little interested in what you have to say. If you're hitting up distressed properties in the first place, I cant imagine that they'll be too offended - they probably KNOW the house needs some TLC!

If anyone has any input on this I'd love to follow this thread also - if my take on it is flawed, please let me know! I'm here to learn and discuss!

T.