Create More Short Sale Testimonials

By: Nick J.
Submitted: 06:34PM on Monday 15 June 2009

Whether you've been investing in Real Estate a long time or are just getting your feet wet you've probably realized the power of testimonials. They are used in all sorts of marketing and they'll continue to be used because of their effectiveness. Chances are you've seen testimonials and read one that you felt related to you or your situation and that is I believe their intended purpose.

When using testimonials for Short Sales, I find they are extremely helpful in helping the seller/client feel comfortable with working with you. It will be hard for you to implement this strategy just starting out and I'm not sure I would risk suggesting you make up a few but as you go along I'll bet you'll find better success implementing the strategy I'm going to lay out for you here.

The need to have the seller/client feel comfortable with you is essential to your future success and having the seller/client refer business to you. You'll find that as you start to build a good testimonial base you'll start getting smart about it and show the potential sellers/clients testimonials that relate exactly or very closely to their unique situation allowing them to see that you're able to help them out the same way you helped out the previous client.

Getting the testimonial isn't the hard part; as long as the seller feels comfortable with you they'll be more than happy to write a short testimonial for you to show future clients. It's when you get the testimonial and how it's structured that will set you apart from the rest of the crowd.

Most investors either new or experienced will most likely only get testimonials after a successful deal which is fine. I personally like to get two or three testimonials from the same seller/client at various stages of the Short Sale transaction. The reason being NOT all Short Sale transactions are successful. That being said you're missing out on some really great testimonials in mean time that can still help you and benefit your business.

This may seem a little exhaustive and overwhelming but as you do it more and more yourself you'll understand that it is very effective. These are the three times in which I receive testimonials:

· After successfully closing them & have signed paperwork

· After successfully receiving an acceptance letter from lender

· After successfully closing the transaction

Remember that NOT all Short Sales are successful therefore by capturing a quick testimonial you'll still build credibility for future sellers/clients.

Keeping this within the lines of ethics, you'll need to structure the separate testimonials properly. You certainly do not want to ask a seller/client to provide you with a testimonial saying that you were successful in completing the transaction when only initially having them sign the paperwork but rather have it structured accordingly to the progress of the process.

Once you've got the paperwork signed and have answered all their questions they should feel very comfortable and happy to be working with you, what a great time to ask for a quick testimonial about how easy it's been starting the process and how they feel working with you. You'll want to coach them a little bit on how to structure it. Start by showing them previous testimonials if you have them, if not verbally do so. Make sure it's short, sweet and to the point. Here is an example:

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Nick and his team have very helpful in working with us to get this process started, they have answered all our questions and have made my husband and I feel comfortable working with them. We look forward to a successful ending and are excited that we're able to work with Nick along the way.

Mary, Glendale AZ
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Notice that it mentions nothing about anything past that point, only that they've been please with the progress so far. This is an excellent example of a testimonial that does not violate any Ethics and provides credibility for future clients even though you have not yet been successful moving forward with this particular seller/client.

The same can be said and done for the next two steps. Once you get an approval you have the seller/client write another quick testimonial, this is a great time to ask for one because at this point you've shown your ability to get the approval and the seller/client is happy with your performance.

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Nick and his team have shown their ability to successfully work with the lenders. We're grateful and happy with the progress we've had working with Nick and his team. We know our chances of successfully getting through this are better that we have Nick and his team on our side.

Mary, Glendale AZ

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Now we've only gotten so far and really haven't completed the short sale but we have two really great testimonials for us to keep. Regardless of the short sale being successfully completed or not we're going to be able to ethically use these testimonials for future use.

You can obviously do the same if and when you do successfully complete the short sale, cash your check and move onto the next one. However think about it if you were not able to get any testimonials and you were not successful in completing the short sale. You do not expect to get a good testimonial after failing to complete a short sale do you? You certainly don't want your testimonials to portray that you have not been successful in completing short sales in the past.

Successfully integrate this method of getting testimonials and you'll find yourself having much greater success than those who wait until the end to get them.

Reminder: these were only examples, please obtain your own true testimonials.