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Mortgage Broker Short Sale Training
[July 27, 2008] by Broker-Trainer
Filed under: Mortgage Broker Short Sale Training

Short Sale Training for Mortgage Brokers

In my discussions with you, I’ve also introduced my system for working this business that works and that works consistently! If you really think about it, a foreclosure investment course (or any real estate investment course for that matter) should focus on giving you repeatable results, not just something that may work for a few select people.

Now, let’s continue this next series of posts, which continues an important series on prescreening preforeclosure sellers. Since we’ve now covered both business basics and marketing, as well as the basics of sales and negotiations in working with preforeclosure clients, let’s see where we are at right now.

What is prescreening?

Sales and Negotiation Part I – How you come across

Sales and Negotiation Part II – Information is king

Sales and Negotiation Part III – Persuasion and rejection

Handling objections

Summary- statements that get results

Every sales situation that exists has some form of objections that may come up. Objections may just be in someone’s mind or they may also be spoken. As a real estate investor who is interested in pursuing the pre foreclosure market, know that how you handle objections is a critical part of your interaction with sellers.

There are four main types of objections that a seller in pre foreclosure may raise:

Time

Money

Credibility

Alternate Scenario

A time objection is typically one where they doubt your ability to get the job done in time to meet their needs. This doesn’t mean they don’t think you can help them. In fact, it may just be their way of saying they are concerned about the time issue. Keep that in mind as you work to reassure them of what you can do.

A money objection is similar to a time objection in that the seller’s own awareness of their lack of home equity or available cash may come across as doubt that you can help them. Keep this in mind when a money objection comes up.

Short Sale Training

A credibility objection is one where they openly (or silently) question your professionalism or experience. When you ask the right questions and present yourself in a professional manner, this type of objection is fairly rare as the seller will have no reason to question who you are.

Last, we have the alternate scenario objection, where the seller presents other ‘options’ that they have, other than working with you. This is usually a bluff, or at least a defense mechanism so that they feel more comfortable in an otherwise intimidating situation. I suggest acknowledging that they have other options and then keep right on showing them how yours is best. Never discount another options they have; just promote your own for the best results.

The key to remember is that, once you effectively handle a seller’s objections, they should have no reason to not work with you. If they still are hesitant or are still saying ‘No’, they may still have objections that you have not addressed. Keep working at it and you will get more deals successfully negotiated!

I’m sure you can now see how important the sales and negotiation aspect of prescreening will be to your business and also how the overall content of my free foreclosure investment course allows you to follow this business at a pace that matches your lifestyle. Since you are in the mortgage lending business already, the idea of selling and negotiating with clients should be something that you are well on top of, again a huge advantage you have over other investors. The mortgage lending business is intimately tied to real estate and puts you in a great position to profit from the booming preforeclosure market. Please take the time to review the action steps and tips from all of my recent posts and make sure you’ve paid attention because we’re going to move onward and forward and I want you to be in an ideal position to act upon what you are learning. Stay tuned, I have so much more to share with you, and all the best to you in success.

D.C. Fawcett

The Short Sale Expert to Mortgage Brokers

To get a Free Short Sales Training Course, go to:

http://homesavers.infusionsoft.com/go/fcfb/foreclos/

Short Sales Training for Brokers

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