How to Find Distressed Properties Plus Free Letter and Email Templates
Helping your clients through difficult life circumstances is one of the most rewarding opportunities in the real estate industry. Whether as a resource for information or substantial assistance - by helping them sell their homes. Either way, this time in their life is ideal for you to share your services and begin building a relationship of trust that can lead to years of referral recommendations.
How To Follow-up With A Client In Real Estate
Below are a few sample email templates we've created for specific life events that help you turn homeowners into sellers. All you need to do is customize, copy, paste, and then send.
When homeowners face foreclosure or short sales, they are often experiencing mental anguish or denial. Remember to be kind and straightforward in all communications. And share the specific experience you can provide and any information that will be helpful to them within your city, county, or state. Including packets of information from area nonprofit organizations can also sometimes be beneficial to the recipient and help you stand out from other real estate agents who may also be contacting them. For example, the information may include local counseling services for people going through a divorce or a death of a loved one. Anything you can do to be unique, better informed, and more useful will help your recipient see you as a valuable part of their solution.
How Can You Find Distressed Properties?
There are several different ways you can look for neglected or distressed properties. You can begin by checking tax records. Delinquent taxes are public records and could suggest the homeowners are in financial trouble. You can also check with your local courthouse for public records of delinquent mortgages. These homeowners may consider selling before they receive their foreclosure notice.
If you have investors ready to purchase homes that may need repairs before entering the market at full value, you may also consider finding distressed properties at the probate court. Unfortunately, the properties may have been abandoned due to unexpected life events such as a death in the family, a divorce, or it was inherited and not wanted. This property sale type may require a particular process within your local area.
REOs are real estate-owned homes. They are properties that the lender has repossessed. Extend your business network to include mortgage lenders and banks to increase your awareness of properties that they may be ready to sell at a discounted price.
Another group of people you can begin marketing to includes out-of-state homeowners. The idea of maintaining a home from a great distance doesn't seem as difficult until reality sets in and tenants begin requesting more and more repairs or the struggle of managing tenants becomes too tedious. By consistently sharing current market updates and your ability to help them secure the best value for their aggravating property may just lead to your next listing!
Email Template 1:
Homeowners facing foreclosure or short sale
Hello [Homeowner],
I am a real estate agent with [COMPANY], and I have been helping homeowners escape from underwater mortgages for [TIME PERIOD] years. I believe my experience can be of help to you.
Several decisions have to be made when your financial well-being is challenged. Just know that this roadblock is temporary and that you have options for getting around it.
Whether we're pursuing the foreclosure process or opting for a quick sale, I'll be with you every step of the way. You have a number of options available and a lot to understand with each, so it's essential to have an expert guide you through the process.
If you're interested in discussing your options and next steps, please don't hesitate to give me a call.
Sincerely,
[Your Name]
[Contact Information]
P.S. If you are already working with another agent, please disregard this letter.
7 Part Postcard Series for Short Sale & Foreclosure
Distressed homeowners need reassurance when contemplating their options. Set their mind at rest by showing them you understand their situation, and your knowledge can benefit. Unfortunately, not everyone is ready to deal with problems immediately. Use this postcard series to help your recipients come to terms with their current dilemma and help them feel safe in reaching out to your for guidance.
To be even more effective, if you have the email and address for your recipient, mail your selected postcard and follow up within 14 days, reinforcing the information you shared on the postcard and asking them to reach out with any questions they may have about the process.
Being consistent with the information you are sharing and your timing will help people remember who you are and your expertise. In addition, treating people with dignity and respect will help them trust you and work with you. Finally, don’t forget to share examples of how you have helped other clients in the past.
Email Template 2:
Homeowner Expressing Fear of Selling Letter Template
Hello [Homeowner],
I am a [your location] Realtor. I am writing to you today to ask you a very important question:
Have you considered selling your home this year but are concerned about:
- No place to go?
- Getting your home ready for sale?
- Staging your home?
- Don't want open houses?
If YES, please give me a call.
It is the perfect time to catch what may be the highest possible sales price for your home. Interest rates are low, and so is inventory, which means you have more buying power, and your home is likely worth more.
My colleagues and I are working with several buyers, and we have little to show them. Competition among buyers drives up home prices, and sellers are in the 'command chair.' As a result, many are getting well over the asking price for their homes.
OPTIONAL: I have enclosed some informational sales material about the [your location] market. Home values keep increasing.
Now is the time! If you would like to talk about your options, or maybe you know someone in the area who is considering selling, please give me a call at one of the phone numbers above.
Thank you very much,
[Your Name]
[Contact Information]
P.S. If you are already working with another agent, please disregard this letter.
Local Expert Postcard Series
Remind homeowners in your farm area that you are their local real estate expert. Show them you know about their neighborhood and the local market. Sharing this information helps them believe that you are the agent they can trust. Choose from our collection of local expert templates, or send one Local Expert Postcard a month as a marketing campaign.
It is natural for people to be afraid of what they don’t know or understand. As their real estate agent, part of your job is to walk them through every situation they may face along their real estate journey. This postcard series helps them understand the real estate process and how you will be with them every step of the way.
Maybe you remember studying for your real estate exams. Not knowing what would be on the exam was pretty nerve-racking. Well, your clients may be feeling the same way, not knowing what questions they should be asking and not sure who they can trust. So the more you can demonstrate your expertise and share stories about successful client experiences - the safer your new clients will feel.
Email Template 3:
Divorce or Dissolution of Marriage
Dear [Homeowner],
During a divorce, you'll likely have many questions concerning what happens to your home, your current mortgage, and even your credit. So whether you're selling or buying, I am here to help you understand all the available options so you can take the proper steps.
Selling your home can get complicated and add to the stress of divorce, so I'd highly recommend working with someone, even if it's not me, as opposed to trying to work this out on your own. I've assisted dozens of clients in selling or refinancing a marital home and can guide you through the process.
Just let me know via call, email, or text if you'd like to chat.
Regards,
[Your Name]
[Contact Information]
P.S. If you are already working with another agent, please disregard this letter.
Understanding Current Market Trends Postcard Series
Send a Market Trends postcard to showcase current housing market conditions and attract homeowners’ attention with straightforward and clear messages. Knowledge is power when it comes to selling or buying a home. Share your expertise about the latest real estate market trends and urge homeowners to act fast.
Clients who are going through a divorce or dissolution of marriage may not fully understand how to take advantage of their current equity. This postcard will help them remember that their house may still be a financial benefit in a very trying time. In addition, helping your clients stay up to date with current market trends is useful when you can follow up with emails using specific examples related to their current situation.
When people are experiencing an emotional rollercoaster, proceed with caution and tact. Remember to be kind in all your communications, and seek first to be their real estate expert and then their friend. Be upfront and honest with them at all times. Even if you have news, they may not want to hear. Become their trusted adviser, and you will receive referrals for life!
Email Template 4:
Affidavit of Death/Probate Letter
Hello [Homeowner],
Please accept our sincerest condolences for the passing of [Decedent's Name]. We wish you and your family stress-free peace in these difficult times.
We are contacting you because we understand that arrangements regarding the home at [Decedent's Address] will eventually need to be made. As such, and when you are ready, it would be our pleasure to assist you with making these arrangements should the need arise.
[About Your Company]
If you are interested in a hassle-free experience, please call me at [phone] or email me at [email].
Should you have any questions or need any other assistance regarding this property, we will do our utmost to help or refer you to a reputable member of our strong local network.
Thank you in advance for your time.
Sincerely,
[Your Name]
[Contact Information]
P.S. If you are already working with another agent, please disregard this letter.
Email Template 5:
Out-Of-State Homeowner Real Estate Introduction Email
Hello [Homeowner],
Owning a property located far away may be more challenging than you were expecting. Situations with tenants, nature, and ongoing maintenance can often bring you frustration and anxiety. I can completely relate as an experienced real estate agent and property owner.
I currently have buyers looking for properties with [number] bedrooms in [neighborhood name]. In addition, I have a few buyers looking for homes with some upgrades and others who want to update themselves.
Based on your property's current square footage and our current market, I would be happy to provide you with a complimentary comparative market analysis (CMA). Now, if you have made any upgrades, that will potentially improve your current home value. Let me know if you have made any upgrades or if your home is in its original condition by email or phone, and I will get your CMA sent to you.
I look forward to hearing from you,
[Your Name]
[Contact Information]
P.S. If you are already working with another agent, please disregard this letter.
Ideas for following Up:
- Drop by a CMA
- Drop by a quarterly newsletter
We love sharing these free resources with you to help you create a consistent and engaging marketing presence across your online and offline platforms. You can use the above template through email or snail mail. Either way, be sure to customize the message to relate as closely to the recipient's current situation as possible.
Are you interested in targeting a different group of potential sellers? Check out our other free emails here.
Need help?
Our Customer service team is ready to come to the rescue:
Call us: +(866) 777-3986
Monday through Friday 8:00 AM - 5 PM PST
Email: CS@Corefact.com
Related topics
5 Tips on Following Up with Leads
Five tips for following up with real estate marketing leads.
Read More
Free Email: Home Value Report
Here's a free email template you can use to follow up with your farm in quarter one. Let your farm know that you are the expert in home values in the area.
Read More
Four Real Estate Farm Prospecting Letter Templates
Use these letter templates to micro-target your real estate farm based on life events and other circumstances.
Read More