Foreclosue Training - Expense or Investment - (page 3.)
A method like Jeffery Ringolds , author of Massive Foreclosure Profits , is not only filled with technical but critical marketing information as well.
Technical knowledge is a must, a solid grasp of foreclosure concepts such as: pre-foreclosures, bank auctions and REO's, the effect of liens on properties, tax consequence of short sales etc..
All of these concepts can be learned as they are constants in the foreclosure world.
However, the best most effective training is seller focused with a critical emphasis on HELPING the distressed seller, mainly in the pre-foreclosure stage. These homeowners are in a world of trouble, stressed out, angry and
possibly in denial and who wouldn't be? Losing your home has to rank as one of the top stress inducers ever.
Remember, anyone can learn the cold hard facts of foreclosure, however connecting with the troubled seller and providing a solution which hopefully: lets the seller seperate from the mortgage with dignity, keep some equity, keep their credit intact is a special skill.
So, to succeed as a foreclosure investor you absolutely MUST gain the trust of folks in the early pre foreclosure stage - that's where the money is and that's where your training needs to be - focus and invest your training on these techniques and you will be making more money than you know what to do with.
Training Will Avoid Costly Mistakes
Knowing what NOT to do or say is just as important as what to do or say - especially to a distressed owner in preforeclosure stage. Why blow a sale that could have netted you a nice 5 figure check because you didn't know how to handle a seller objection? Foreclosure training will return big dividends, deal after deal, because you won't consistently do or say the wrong things when dealing with homeowners. For example, one of the top foreclosure programs available today Alexis McGee - Six Steps to Mastering Foreclosures puts "seller objections" under the microscope as they are considered "part of the natural selling process". Take a look at how a seasoned foreclosure investor thinks about, examines and disects "objections" :- Validate the objection
- Ask questions
- Uncover the real concerns through questions
- Write common objections
- Adapt to ups and downs
- Objections are buying signals
- Understand what is going through the mind of the seller during the sales process
- Price Objections - America's favorite
- Forget the quick fix
- Press hot buttons
- Don't give up too early on the deal because of objections.