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Door-Knocking Tips for Lates
- 1. Door-Knocking Tips for Lates Effectively reaching prospects who are late on mortgage payments
- 2. Tried and True Technique • Door-knocking is not a thing of the past • It’s an effective way to make contact • Distressed homeowners require a special approach
- 3. It’s All In Your Approach • Don't try to close the deal on the porch • Try a soft sell approach. • Share information and resources. • Let the homeowner know there is a way out.
- 4. Your Data Is Useless With the Wrong Approach • You have only a few seconds to gain their trust; don't blow it. • Many agents start conversations with: “I understand you are falling behind on your mortgage,” or, “the bank is reporting that you are 60 days late on your house payment…” • NEVER mention that you know they are late
- 5. Put Yourself In Their Shoes • Late on your mortgage. • Stressed about the payments. • Embarrassed that this is happening at all. • Would you want to talk to a stranger who opened with the thing you'd most like to keep hidden?
- 6. A Better Approach • Don’t say anything about them being late • Present yourself as a local real estate/foreclosure prevention expert • Offer to share free resources with anyone who knows someone who is struggling.
- 7. Why Does This Work? • You're not singling them out • You're just providing information to the neighborhood
- 8. Making A Good First Impression • Knock, then stand away from the door • When you hear someone coming, turn your head away to disarm the homeowner • When they come to the door, step back • You don’t want the homeowner to feel threatened
- 9. What to Say • Introduce yourself as local real estate expert • “I’m sure you know someone having a hard time making their mortgage payment or owes more on their house than what it’s worth.” • “There are a lot of ways to avoid foreclosure.” • Leave them with a brochure and/or card
- 10. The Main Thing The biggest sentence to get across is “I don't know if this applies to you or not, but I’m sure you know someone.” This non-threatening statement disarms the homeowner and presents you as a compassionate, concerned person whose objective is only to help.
- 11. Have Something to Offer • Do you have a brochure covering the basics of avoiding foreclosure? If so, make sure it's up-to-date and attractive • If you don't have one, create one • More thorough and visually appealing than a flyer
- 12. The Long Game • Soft-sell approach builds trust • A follow-up may be in order • Unless specifically requested not to, you now have license to keep in contact with them
- 13. Takeaways • Never mention being late on their mortgage • Be empathetic • Build trust and go slow
- 14. Don’t Have Late Leads? We have data on homeowners 30, 60, and 90+ days late on mortgage, refreshed monthly direct from the credit bureaus. Click here to get more info. For more tips and scripts, visit our website.