Realtors

Real Estate Road Kill: What a Brilliant Idea!

Written By: Karen Deis Loan Officer Magazine

Has this happened to you?

You have a purchase transaction in your pipeline. The deal is a short
sale. You, the Realtor have been negotiating with the lender for oh,
say, four or five months now. The lender finally decides to sell at a
lower price. The buyer cancels the deal.

Right now, most MLS systems have a method to report “short-sale
listings” BUT do not have a way to sort out which ones have already
been negotiated with the lender.

Enter Danny Poulos & Richard Butler! They have had literally
hundreds of deals vanish from their pipelines, due to the length of
time it took to negotiate the short sale transactions.

Because of the problem with the MLS not being able to distinguish
between negotiated and non-negotiated deals, they decided to
become the clearinghouse for their local real estate agents. They
asked them to provide them with the information on all of their
listings of short-sale bank approvals, listed them on his website, and

was born!

When you read this article, you will not only learn how he got real
estate agents and mortgage brokers to participate, but more
importantly, how they got over 800 leads to add to their database
(over half being new people) and you can view the video with some
major press coverage!

Oh, by the way…they’ll be launching this nationally in a few months
…so you might want to contact them or email them, if you are
interested.

Danny Poulos has been holding real estate training classes for real
estate agents for years. He has had hundreds of agents attend
classes, but the most popular one, for the last year-and-a-half has
been “short-sale negotiating” class.

However, what he found (and this is no surprise) is that, while agents
want to learn how to talk the short sale talk, they don’t want to do
the work. So Danny has been instrumental in helping them negotiate
with lenders whenever there is a transaction like this going on.

One day he sent an email blast with his idea about the concept and
then asked them to provide a list of properties with the MLS
numbers. The response was nothing short of amazing.

RealEstateRoadKillUSA.com (Where vultures become real estate
moguls…. I personally love the tag line!) You will find a list of
properties (already approved by the lenders) but you won’t find
links to the listings themselves. Danny’s reason being, “We include
the MLS number and encourage them to call their real estate agent
for more info. If they don’t have an agent, we can recommend one
to them.
We also tell them that before they make an offer on any of these
properties, they need to be pre-approved and encourage them to
start with Elite Lending.”

In addition to being the clearinghouse for short sales, the true value
lies in the leads he generates every single day. When you visit the
site, you will notice that you can elect to sign in or bypass this
option. To date, Danny has had over 2200 people visit the site, with
over 800 opt-in emails.
If a real estate agent opts in, an email is sent thanking them for
visiting, a little bit about the concept, that it’s free and the rules for
placing their listings on the road kill site. Agents can also register for
training at www.ShortSaleOps.com.

If a consumer registers, an email explains that all the prices have
been negotiated; that they need to have an approval letter to make
an offer on any of these properties and they can also download the
entire list which has been created in an Excel spreadsheet.

He encourages them to drive around and view the properties and
then contact a real estate agent if they want to view any of them.
He also asks them to keep checking the site as new properties are
added every day.

To sum up the brilliance of this idea:

1. It’s a clearinghouse for negotiated short sale listings

2. It’s another way for real estate agents to market their listings

3. It’s a lead-generation source for Elite Lending

4. It’s a pre-approval opportunity

Be the first to offer this unique concept in your area of the country.

Email djpoulos@elitelending.biz.

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