Crazy Lead Generation Idea Using Loan Mods as Your Cover – 04/07/10
Kevin Kauffman and Fred Weaver of Group 46:10 pop off on a interesting new lead generation idea using a free loan modification service as your “cover story.”
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About the Authors
Kevin Kauffman & Fred Weaver
Kevin and Fred the founders of Group 46:10. Over the last 10 years Kevin and Fred, and their team have closed tens of millions in real estate all over the country and have created some of the best training for agents in the market. Kevin and Fred are also highly sought after teachers whose work has helped agents all over the country build their own next level real estate business.
Thanks for the great outback contribution guys.
I know this thread hasn’t been touched in years, but I’m curious if anyone is still following this. With the new legislation on loan mods is this concept of sending a postcard message to do a loan mod while switching them to a Short Sale allowed anymore?
Idea I will try, send a cheap postcard (click2mail)to people in foreclosure. Basic info: “FREE short sale, FREE loan modification, FREE foreensic loan audit” and point them to a website and toll free # to capture their info. Get the appointment, help determine best option and if a loan mod might work, send them to NACA (they provide the free loan mod). If loan mod fails, they come back to me.
First off where is the best resource on how to do loan modifications? Then we need to learn that step by step so we can help people start a loan mod. The next hurdle will be to get in front of enough people to tell them about the loan mod class… very, very awesome idea guys! Once I learn the loan mod process I will host a class and let you know how it goes…
I’m the best source in America on loan mods. 100%….. THEY DO NOT WORK! 1 out of 100 people qualifies. So, I’ll give you all the step by step that you need, looks just like a short sale lead call, just bring up the fact that you don’t do them, and then sell them on why Short Sales are the best and most responsible ways to sell in this market!
Script for loan mods:
CLIENT:
I have submitted a loan modification package or hardship package to the bank.
SS AGENT: Great, we encourage all of our clients to consider ALL of their options before doing a short sale. Now, it’s our experience and opinion that for 90% of people, loan modifications don’t work, so we are ready, willing and able to handle your short sale once you determine that a loan modification is not the best option. Let me tell you how our process works, and what is required to work with us….this is where you cover $500.00 investment, the process, requirement for short sale financial package, etc… and expectations, etc. Also, talk about the PROS of a short sale here, after the 1st part.
ANOTHER ONE ON I WANT TO STAY IN MY HOME:
CLIENT:
I heard the banks are reducing the principal amounts to keep people in their homes.
SS AGENT: Yeah, on the streets, there are many lies that are being told, and most of us don’t have the insight and perspective to know what’s really going on. We’ve learned that pertaining to real estate, NOTHING IS EVER WHAT IT SEEMS! So, there are hopeful conversations that balances are being reduced, but the reality is that they are NOT, at least not in any significant numbers. Out of over 300 recent interviews with clients who did loan mods, I have talked to 2 that have received balance reductions, and I was not able to see or verify their paperwork, I just took their word for it.
There is even a new NEWS story about a possible 1.5 billion bailout for AZ, NV, CA, Michigan, and FL that is supposed to be for this purpose. We have seen this over and over too, the government bailouts never work, as they always have too many hidden strings attached for the programs, and generally, the program is not ultimately beneficial for the bank, the homeowner, or sometimes for BOTH.
As I mentioned before, there are many benefits to a short sale, they are……. HERE YOU TALK ABOUT THE PROS OF A SHORT SALE!
Always acknowledge their objections, then POST them up with the lead into HOW WE DO THE SHORT SALEs…if you are not scripted on short sales, it’s a circle conversation of no fruit. If you are scripted, then it’s 5 minutes and a listing. OUTBACK! Coach
WOW…that video got me really really wound up! Thanks birthday team!
WOW Coach I love the enthusiam!! But wouldn’t it be a good lead generation topic to show how you “start a loan mod” and then tell them the numbers and after they try, because we know they do not work, keep an 8 x 8 on them then 33 touch and get them when they are fed up?
From my experience people still want to try a loan mod and if we host classes which will get contact info they will come around.
I know you probably have some high “D”, and scripts do work, but many of our clients had to try and find out the hard way…
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