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How Any Real Estate Agent Can Generate New Leads and Listings from Foreclosures

The title of this article is quite a bold statement, but if you will allow me a couple of minutes of your time today, I’ll show you how you can tap into a whole new real estate niche that most agents don’t have. I do not know. It’s not that they don’t know; it’s just that they haven’t put two and two together.

This new source of Real estate leads It could mean another 100 – 600 new highly motivated prospects (salespeople) who are desperate for your professional help. And that’s just for a 100,000 home market. Your market could have even more.

Why has this opportunity not been available before?

Well, before now not all parts were available. Today, the technology is in place, turnkey business training systems in a box are available, and the market for this business is very mature and growing.

Foreclosures will be the next big thing in real estate Leads

Coaches Corner {tm} newsletter subscribers (over 350,000) often ask us, “What’s the next big thing for real estate agents?”

Well if you asked me that specific question to Generation of real estate leadsI would have to say Foreclosures and pre-foreclosure they are going to be the next big thing for New generation of real estate leads.

You’ve probably already heard that real estate foreclosures, as of the April 2007 US Foreclosure Market Report up 3.325% (New Hampshire).

Foreclosure Rates Keep Growing

Recently, USA Today ran an article about the fact that 75% of new home mortgages in California are undocumented loans (some industry experts call them lying loans). These undocumented loans allow the homeowner to use their reported income and often allow them to borrow more money at a higher debt-to-income ratio than they could traditionally. Non-document loans have become very prevalent in recent years and are now widely used throughout the country.

In my opinion, most of these loan-liars are embryonic foreclosures. It’s likely only a matter of time before homeowners get into trouble and go into foreclosure.

Over a million real estate foreclosures each year

According to RealtyTrac®, with whom we have established an exclusive partnership, the number of foreclosures will likely exceed 1.2 million this year if we continue at this rate. To read the full press release of May 15, 2007 for the RealtyTrac® United States Foreclosure Market Report, click here.

What this means for the average real estate agent in a market with 100,000 homes is that about 127 new properties will enter some state of foreclosure per month. Some of the not-so-average counties will see 431 new foreclosures per month for those same 100,000 households. So that means there will be 14 new real estate foreclosure listings per day for every 100,000 homes.

If you had the home seller information in a timely manner and were equipped to deal with this specific type of lead, it could mean 100 to 500 new leads each month in a market with 100,000 homes.

Most real estate agents don’t know how to handle foreclosed prospects and generally view them as junk prospects. Therefore, there is very little competition for you in this niche if you become a real estate foreclosure expert.

Combine that with a highly motivated home salesperson and you have a recipe for success in generating new leads.

Do You Know Your State’s Foreclosure Rate? If it is only the national average, will have 1 foreclosure for every 783 homes, like a good part of the country? How many homes do you have in your market and what does that amount to in foreclosures? A lot, no matter where you live!

Foreclosure rates are growing almost everywhere and there are already a huge number of potential customers where you live, so take action and equip yourself with as much information about real estate foreclosures as possible. The information will help you create a new real estate foreclosure niche in your area and help you grow your real estate business.

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