Preforclosures or other cold soliciting

[Sherry Solomon]

I am pretty new to the business, and have the opposite problem of most newbies. Typically you hear that it's hard to find your first few clients. I actually have a decent number of (buyer) clients. But there are just no houses.

My clients are all interested in a very small and specific area (one which is also in high general demand). I am desperate to find houses. I want to knock on doors and am hoping to get some been-there-done-that advice. There is one house that has been in preforclosure since October. A few months back, I hand-delivered a letter (taped it to their door). It was hand-written, warm, sympathetic, etc. I never heard from them, and I'm not really surprised. Now, with the Spring market thus far disappointing me as far as inventory goes, I am considering knocking on their door.

Any tips? Dos/Don'ts?

I am also thinking about just knocking on doors generally. This market is so crazy that everything is selling for crazy prices. So it's a good time for this kind of strategy, I think, but i have no idea how to pick a house to target. Any ideas or suggestions would be very much appreciated.