Successful Prospecting with Debbie DeGrote – Notice of Defaults or NODs
Another great source of business is NoDs, or Notice of Default. Over the years of coaching, the last 17 years of coaching some of the best real estate agents in North America, many of them worked aggressively the Notice of Defaults. Now, they’re unique in that you do have a lot of information about this homeowner, what they owe, and when their property is going to go into foreclosure. Now, you do need an approach that is sensitive to their situation. So, for an example, many of my clients tell me that mailing information doesn’t always work. They throw it away with the junk mail from the bank. Calling them, sure, you can call them. And yet an incredibly effective way is to actually go and see them. Face to face. Telling them “I don’t work for the bank. I represent homeowners like you who are struggling, who don’t know what to do, and might need to sell their home.” Now, the ratios are, you know, you may not catch many at home. But you’re going to increase that when you go at certain times of day. Late afternoon. Saturday morning. Sunday afternoon. And the results are actually pretty good, you know. When you speak to them face to face, you’re sincere and you’re helpful. You may not get them right away, but with a little bit of follow-up, you can have a really good conversion rate with this particular category of prospecting.