REO Pro - Real Estate Default Professionals

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Hi all,

Now that REO listings have all but dried up out here in Phoenix, I have been searching for alternate methods of finding listings (I prefer to list rather than work with buyers) and because short sales are now driving the RE market here I started researching ways of finding people who need help.

Having worked as an REO listing agent the past 2 years I noticed that about 7 out of 10 people won't even try to do a short sale and just walk away from their home. To me this is not only very sad but crazy!

I spent 3 days searching the internet for a reliable list broker company that could sell me a fresh 60 day late list (be very careful if you decide to do this, ton of flaky companies out there).

After reading reviews until my eyes crossed I came upon 2 companies that appear to be reliable. I purchased 3000 leads for $725.00 and they send me 500 per month, for 6 months, which is what I requested.

I just sent out my first 500 letters, which should be in their mailbox by this coming Wednesday, and I will let you know what kind of response I receive.

I just completed my CDPE designation (Certified Distressed Property Expert) and was surprised that this training actually taught me quite a bit and feel very confident about my abilities (I have successfully completed only 3 short sales prior to training).

Anyways, I was curious if anybody else on REO-PRO has tried this and what kind of response did you get?

Thanks you guys!


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I was using 2 postcards. One had a tag line of "Foreclosure is NOT your only option" and the other was "You have options to foreclosure". I also did 2 letters which basically told them that I would help them in anyway possible and it would not cost them any $. My response so far is a little less than i was hoping for. I have 1 SS listing and 3 more I am working loan mods on from mailing about 1000 pieces out.

I am going to take another approach on my next mailing. I am going to send out a 1 page newsletter that gives the reader free information about loan mods and also advises them with short sales. I kind of think of it as "blogging" but it is a hard copy and mailed to 30 & 60 day late people. From all of the courses on direct marketing i have been through, they all say the 3rd and 4th letter to same person gets the best response.

I'll let you know what happens. Working on the newsletter today and hoping to mail next Monday..
Just found these marketing materials:

Pay it Forward
Hey Mark. Please check your regular email. Thanks.
just did. sent you a response and my latest postcard. :)
I've sent out 2 mailings so far. My first was a small postcard to 500 that are 60 and 90 days late. I didn't get any response. The second mailing to the same was a letter introducing myself. I have gotten one phone call from a woman who wants to try for a loan mod. I'm contemplating helping her submit for one even though she is thinking of filing for bankruptcy. So, unfortunately nothing great so far.

I had set it up so I would mail to the same 60/90 days lates every 2 weeks up to 4 times. However, I'm wondering if I would get a better response if I just mailed to those that already have NODs. I know they say it's better to get them before everyone else knows (seeing the NOD on public record). But judging by my first 2 mailings, it seems that it may be too early especially because they're pushing loan mods. What's your opinion?
Well, I went to vista print and ordered 700 jumbo cards saying" Dont walk Away.... you have options"..... etc- they are really nice quality, cost 199.00/1000... I used "realist" which is free from my board.. I pulled all preforeclosures for the last yr in 3 zipcodes..... there were 5200in the last 3 months..... w/in 7 miles of my home..... OUCH- pricey... I ended up sending 700... they are arriving today and yesterday... I dont know how I will do...... but, I do suggest you look into realist... I can pull anything... ( our taxroll states whether an owner is in foreclosure or not)....this is pulled by realist and can give u a great excell list for the mailings.....
I paid aprox .38 to address and ship per card... ( about another $200).... will do it for 4 months......
Right now I'm working on a news letter as well.... just a tri-fold 1 pager...... it will go out in 10 days or so.... willl keep u posted... pls let me know how you do...!!!
Regards, Rose


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