Can Pre N.O.D leads be purchased via Foreclosure Radar? I am currently purchasing leads from another source, but am interested in learning more re: this website. If Pre N.O.D leads aren’t available, then how do I benefit from this service vs. getting the N.O.D leads from Realist (tax records) myself and at no charge? Thanks for any input you can share!
I’m not sure what your experience have been, but we have largely found that pre-NOD leads (often referred to as 60-90 day late leads) are a waste of time. Still too early in the process and folks are not yet ready to make tough decisions. Also, since it is credit data, rather than public records data, you have to include disclaimers which greatly impact effectiveness.
Where you’ll see a huge difference between us and other sources is the ability to filter the leads and work smart rather than hard. For example you can easily:
- Identify just new NOD’s since you last searched using our saved search functionality.
- Identify NOD"s where there is only one open loan on the property. It is a LOT easier to negotiate a loan with one lender than two.
- Identify NOD’s from specific lenders - the reality is that some lenders are far easier to get short sales done with then others. If you haven’t already be sure to review our Short Sale Report.
- Identify NOD’s that are not listed (where we have coverage).
Then after searching you can easily sort the results such that you can focus on the ones that are least upside down, and / or which have the most time before the foreclosure sale.
Anyone who says that all the NOD’s are already listed is out of their mind. We are finding only about 10% are listed, and that in most areas there are hundreds with only one loan. When it comes to short sales - we make ALL the difference.
How do we indentify NOD’s not listed?? Does your system do that or do I bounce the report off MLS?
We have listing data for many, but not all areas. If we have it, then it is as simple as setting the criteria to “No” for Listed.
Can you please repost or send the Short Sale Report?
Few agents have the “stomach” for approaching homeowner in distress. That is largely because homeowners are either angry or in some stage of denial or just do not trust anyone that approaches them and appears to know their personal business. Of course there are the agents that are great at this but it is definitely an acquired skill. Most real estate marketing is about meeting people and getting conversations started about real estate. I think the market approach is so much easier than the direct approach. Not to mention this allows you to find those people in your farm area that are not yet late but are headed that way. Since ForeclosureRadar provides the results of trustee sales the very same day we suggest watching for bank owned homes that have just become bank owned and walking the neighborhood to let people know. This is not only good for the safety of the neighborhood but it also allows you to look for potential buyers and is a great way to segue into a conversation about avoiding foreclosure. Everyone wants to know about the new bank owned properties. Why not use that as an easy way to start a conversation. Plus, when you have the published bid, opening bid and the winning bid the day after the sale you automatically establish yourself as the foreclosure expert!