Prospecting Distressed owners

[Michael Phillips]

Hey everyone.. I’m a realtor out in Erie pa, I’m wondering if there’s any agents who prospect distressed owners and if so, what’s your best approach ? I’m having trouble with that, thanks a lot !

[Patricia Steiner]

Most distressed owners are "distressed."  Many have, for all practical purposes, lost decision making control.  And, once a property gets into Lis Pendens, securing title insurance is impossible since the title is "in play."  The opportunity is BEFORE the distress begins. One place to market is in communities that have a large segment that are underwater on mortgages.  That information is readily available from an online search and then you can reach out in that specific market.

And, most of all, get your message solid. There's nothing like being contacted by a stranger during one of the worst times in your financial/personal life.  

Think it through, know the segment, don't over-promise, be careful with your message.  Hope this helps.