27 Ways to Get Listings

#11: Foreclosures Foreclosures can be tough because the situation inherently involves people facing hardships. However, foreclosures can still be a great lead source. You just need to keep some important things in mind. Obviously, anyone who's facing hardship is in a sensitive spot. They're going through hard times. If you come into that situation from an insensitive place, you're going to make a lot of people angry and tarnish your reputation. So you need to have a big heart, and you need to go in with an intention to serve. You need to be kind and compassionate to the people you're dealing with. If you're not prepared to do that, don't get into these lead sources because they're not for you. Don’t let that disclaimer deter you, though, because foreclosures can be a really good source of leads. It’s just that they're also very different from your standard clients who are selling for other reasons. Just keep that in mind if you are going after any leads in which hard times are involved. If you look at the stats, a lot of people in foreclosure situations fell onto hard times because they lost a job or had some sort of health issue come up. In most cases, some sort of catastrophic event happened in their life. The best way to approach folks facing foreclosure is to explain their options and to educate them on things they need to know. Then, if they do decide to list, they’ll probably use you as their real estate agent because you built that trust with them. Unfortunately, people in these situations get a lot of people harassing them, so if you approach them in that same vein, it's likely not to end well. #12: REO / Bank-Owned Homes Real estate-owned homes (or REO homes) and bank-owned homes are properties that have been foreclosed upon and are now owned by the bank or another company. When this happens, you're obviously not dealing with someone in hardship anymore. At this point, it's all about the bank or company and building a relationship with the employee selling that home. A member of our team works right now for a bank selling REO homes, so she knows a lot about this. She tells us that the agents who have their paperwork and processes together and are ready to serve the bank the best deal are usually the ones who get the listings. The great thing about REO homes is that if you can establish a solid relationship with the bank, you can nab tons of repeat business. It's a really good niche. I know there are agents out there absolutely crushing it.