Tuesday, May 23, 2006

Kathy Kennebrook - Finding Motivated Sellers

The first national speaker who presented at the Foreclosure Summit was:
Kathy Kennebrook, The Marketing Magic Lady.

She discussed formulating a marketing strategy to locate prospects, and pre-screen them in order to construct offers. The 2 different market strategies discussed were shotgun (e.g. using bandit signs), and rifle (e.g., targeted direct mail). She focused on the latter, since that is her specialty.

Here are some general hints and tips she mentioned:
* Follow-up is critical; very few prospects will call after only one mailing
* The Spanish language market is hot - put a translation of your markeitng materials on the opposite side of all direct mail flyers, and hire interpreters by the hour (or hire someone bi-lingual) when a prospect calls.
* Give prospects multiple ways to contact you (email, phone, US mail, etc.)
* Use a checklist or script when speaking to prospects to ensure that you get all the info you need the first time (i.e., it doesn't look good to keep calling them back because you forgot to ask something)

Here is a list of some potentially good direct mail campaigns:
* Out of state owners
* Burnt out landlords
* Military transfers
* Probates
* Pre-foreclosures
* Vacant properties
* New luxury home owners

Overall, she was a very good presenter, and if you want to ramp up your marketing via direct mail - I am sure that this is an excellent program. She provided a lot of valuable info (only some listed here) - but spent a little too much time (25 mintues) trying to sell her packages.

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