A little preparation, some short sale genius and following the points below, it's a cinch to make a hit of that first meeting with the homeowner. You have three steps to follow in preparation of the short sale deal meeting.
1. Head to the County Courthouse: This is where you'll find the General Warranty Deed and get the Power of Attorney signed. These two documents have a gap that needs your work to put in additional information. Go to your county recorder's office, look for specific information (You can find what you need to get at Real Estate Investor.com), and copy & paste this information into the documents.
2. Make two copies: Make two copies of your research and all your papers and put your copies into separate manila folders. This serves as a hedge against losing time and effort in lost paperwork.
3. Find a Notary: The warranty deed and power of attorney require a notary stamp when they are signed. This is more of a step to complete right after the meeting about your short sale deal with the homeowner. It's a good idea to make sure you have a notary in place that you can visit.
There are plenty of public places to meet the homeowner in; like a coffee shop or bank. Banks have a notary on the spot and it's free. We suggest doing the meeting in the person's home since people are hesitant to talk about their private matters in a public area.
Short Sale Genius Tips for the Short Sale Deal Meeting
You can easily understand the flow of the preforeclosure meeting with your clients by looking at it in four separate segments.
1. Creating a Bond: This is just like walking into the house, doing a little tour and greeting family members. Make small talk and look up some topics to discuss beforehand if you are shy or nervous about the meeting.
2. Collecting the Homeowner's Documents: Collect the six documents you need in order to get started on the short sale deal. If you have documents that need to be filled in, give them to the homeowner to work on during the meeting.
3. Sign the Documents with the Homeowner: Some Homeowner start to get nervous when it comes time to sign with you. They'll find this part of the preforeclosure deal scary, so it's important you make this as painless as possible.
4. Wrap up the Meeting: End the meeting with your clients, so you can get back to the office and get started on the next steps of your short sale deal.
Just to make certain you hit every note right when first meeting about the short sale deal with the homeowner here are a few more of our short sale genius tips:
o Show that you understand the homeowner's situation and care, but don't feel sorry for them.
o Be up front and don't throw surprises at people. Let the homeowner's know all the good and the bad about your short sale deal. Also make sure you disclose all essential business information with them.
o Mirror the homeowner's gestures-if they talk fast, you talk fast; if they slouch, you slouch, etc. Not too much though, or you'll end up making the clients uncomfortable by mimicking.
o A checklist is great. Check things off one at a time and keep track of what you've done as the meeting progresses.
o Give praise when something is prepared properly and on time by the homeowner. When they don't have things ready, don't scold them, but let them know that they should have had it ready.
o Don't waste time at the meeting. Once you're done with bonding and rapport don't waste time chit-chatting while doing the short sale deal paperwork.
o The financial document can take a really long time. It's best to get the information you need and complete the short sale deal document yourself later.
o Do not stare at the homeowners. You don't want people to feel like you can't wait for them to sign. The homeowners are always wondering if they are going to get scammed in preforeclosure situation. To make them feel more comfortable, you might want to excuse yourself and go make a phone call. This is short sale genius!
o Be absolutely clear that they can take all the time they need. People can get very nervous when they have legal documents in front of them.
o Confirm that the client understands all the documents and processes. Tell them about REIShortSales.com where the homeowner can check the status of their preforeclosure if you are working with us.
o Go through all the documents again and make sure all the lines are properly filled out and everything is signed for this short sale deal.
o Give the homeowners a business card. No matter how many contacts you have in place, like the website, the homeowners need to know that you care.
Used properly and followed to the letter, these short sale genius steps and tips will help ensure that you have a homeowner signed on for your short sale deal. There are a lot of tips here, but if you keep them handy and read through them before each meeting they'll stick in your mind and help that meeting go well.
1. Head to the County Courthouse: This is where you'll find the General Warranty Deed and get the Power of Attorney signed. These two documents have a gap that needs your work to put in additional information. Go to your county recorder's office, look for specific information (You can find what you need to get at Real Estate Investor.com), and copy & paste this information into the documents.
2. Make two copies: Make two copies of your research and all your papers and put your copies into separate manila folders. This serves as a hedge against losing time and effort in lost paperwork.
3. Find a Notary: The warranty deed and power of attorney require a notary stamp when they are signed. This is more of a step to complete right after the meeting about your short sale deal with the homeowner. It's a good idea to make sure you have a notary in place that you can visit.
There are plenty of public places to meet the homeowner in; like a coffee shop or bank. Banks have a notary on the spot and it's free. We suggest doing the meeting in the person's home since people are hesitant to talk about their private matters in a public area.
Short Sale Genius Tips for the Short Sale Deal Meeting
You can easily understand the flow of the preforeclosure meeting with your clients by looking at it in four separate segments.
1. Creating a Bond: This is just like walking into the house, doing a little tour and greeting family members. Make small talk and look up some topics to discuss beforehand if you are shy or nervous about the meeting.
2. Collecting the Homeowner's Documents: Collect the six documents you need in order to get started on the short sale deal. If you have documents that need to be filled in, give them to the homeowner to work on during the meeting.
3. Sign the Documents with the Homeowner: Some Homeowner start to get nervous when it comes time to sign with you. They'll find this part of the preforeclosure deal scary, so it's important you make this as painless as possible.
4. Wrap up the Meeting: End the meeting with your clients, so you can get back to the office and get started on the next steps of your short sale deal.
Just to make certain you hit every note right when first meeting about the short sale deal with the homeowner here are a few more of our short sale genius tips:
o Show that you understand the homeowner's situation and care, but don't feel sorry for them.
o Be up front and don't throw surprises at people. Let the homeowner's know all the good and the bad about your short sale deal. Also make sure you disclose all essential business information with them.
o Mirror the homeowner's gestures-if they talk fast, you talk fast; if they slouch, you slouch, etc. Not too much though, or you'll end up making the clients uncomfortable by mimicking.
o A checklist is great. Check things off one at a time and keep track of what you've done as the meeting progresses.
o Give praise when something is prepared properly and on time by the homeowner. When they don't have things ready, don't scold them, but let them know that they should have had it ready.
o Don't waste time at the meeting. Once you're done with bonding and rapport don't waste time chit-chatting while doing the short sale deal paperwork.
o The financial document can take a really long time. It's best to get the information you need and complete the short sale deal document yourself later.
o Do not stare at the homeowners. You don't want people to feel like you can't wait for them to sign. The homeowners are always wondering if they are going to get scammed in preforeclosure situation. To make them feel more comfortable, you might want to excuse yourself and go make a phone call. This is short sale genius!
o Be absolutely clear that they can take all the time they need. People can get very nervous when they have legal documents in front of them.
o Confirm that the client understands all the documents and processes. Tell them about REIShortSales.com where the homeowner can check the status of their preforeclosure if you are working with us.
o Go through all the documents again and make sure all the lines are properly filled out and everything is signed for this short sale deal.
o Give the homeowners a business card. No matter how many contacts you have in place, like the website, the homeowners need to know that you care.
Used properly and followed to the letter, these short sale genius steps and tips will help ensure that you have a homeowner signed on for your short sale deal. There are a lot of tips here, but if you keep them handy and read through them before each meeting they'll stick in your mind and help that meeting go well.
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