Issue 37

In This Issue:

• First Impressions Can Make or Break Your Business
• Positive News from Default Research and the National Association of Realtors!
• Commercial Foreclosures – Where, How, and Why to Find Them?

While many business owners hyper-focus on the bottom line, it is actually a line of communication to new clients that is key to growing the business. Don’t get me wrong, current clients are the lifeblood of any business and they have to be a top priority. The fact is, though, that any business needs to grow, and that can be done in the foreclosure business by opening an honest dialogue with potential clients about how you can help them. At Default Research, we try to keep that line of communication wide open between myself, our office staff, and our new clients about how our fresh list in their area will allow them to have a distinct advantage over their competition.

In this month’s newsletter, we feature a new section of our web site that provides sample letters to help our clients start that conversation with their prospective clients using effective, relevant, and clear messages. Default Research partnered with Marte Cliff who has years of real estate writing experience that can become your number one tool to help your business. Her sample letters and ideas are great, and she is able to provide personalized letters for you as well.

Our communication to you continues in the newsletter as we explain the value of commercial properties and also provide our clients with good news about the recovering economy. As always, please feel free to speak openly with me about real estate, foreclosures, or Default Research. I look forward to hearing from you!

First Impressions Can Make or Break Your Business
What kind of first impression does your business make?

You’ve heard it said, “You never get a second chance to make a first impression.” And in business, those first impressions are often made by your marketing materials.

Whether it’s a print ad, a letter, an e-mail or your web copy, those who read it form an opinion of you – good or bad – and they form it quickly …usually in less than seven seconds.

Your marketing copy represents you. In a sense, it becomes you – just as if you were out in the marketplace talking to those thousands of readers in person. That means your written words have to do everything you would do if you were there yourself:

• Exhibit your professionalism
• Demonstrate your knowledge
• Acknowledge their problem, their concern, or their need
• Offer understanding
• Suggest a solution that shows you care about them

Whew! That’s a lot of work for one little bundle of words. And it’s a lot of pressure on you, knowing that the words you use to present yourself and your business to the marketplace will determine whether a prospect will call you, want to learn more about you, or dismiss you altogether.

This task is getting tougher all the time, for two reasons:

First, because we’re living in an age of skepticism. Every time we turn on the TV or pick up a newspaper, we see another story about someone in a position of trust who lied, cheated, stole, or abused. So along with everything else, your marketing copy has to convey the feeling that you can be trusted.

Second, because everyone is on information overload. Your message has to grab attention immediately or no one will even read it, and if it’s too long, or if the copy looks “heavy,” they’ll stop before they finish. That’s one reason why a drip campaign with many brief messages can be more effective than one long message.

How can you accomplish all this? With care. With taking the time to plan your messages, write them, and then edit and polish until they shine. Try to set aside at least a few hours on two different days, because it’s far easier to spot errors after you’ve left the copy alone for a day. It’s also easier to identify places in your copy that might be confusing to your reader or that simply don’t flow well.

If you can, enlist a partner or friend to proofread your message before sending it out. Just as you use a mirror to check that your hair is combed, your face is clean, and your clothes look good before you head out to meet a new prospect, use a second set of eyes to see that your marketing materials are clean, polished, and have no wrinkles to detract from that positive first impression.

For sample letters and more information please visit our resources section.

Positive News from Default Research and the National Association of Realtors!

According to Default Research and the National Association of Realtors, it is safe to say that the real estate market is making a slow but profitable recovery. Default Research reported last week that pre foreclosures are dropping in our major coverage areas, and year over year numbers are dropping an average of 40 percent each month.

In addition, the nation got good news from the National Association of Realtors last week that existing home sales rose 6.8 percent from February 2010 and 16.1 percent from March 2010. The study included single-family, townhomes, condominiums and co-ops, and cited major contributing factors such as favorable market conditions and the first time home buyer tax credit. In addition, inventories have continued to fall on a national level for the past year and year over year sales have increased for the past nine months.

Although the country is facing high unemployment, under employment and many homeowners still underwater, both reports show a positive trend for the national economy as a whole.

Commercial Foreclosures – Where, How, and Why to Find Them?

Due to the increasing demand for commercial foreclosures, Default Research has put together a table below of our top 10 list of cities with commercial foreclosures. Although there has been a slight decline in the first quarter of 2010 for commercial properties, the demand from our clients has never been greater and Default Research posted over 1,000 commercial properties during that time.

The primary cause of commercial foreclosures is due to the stricter underwriting standards imposed by lenders in the recent years. Therefore, when the owner fails to pay their mortgage or is unable to refinance a mortgage, the property is posted on our ever growing pre-foreclosure list. Many of these properties with positive cash flow are unable to obtain credit leading to foreclosure, but also pose a lucrative investment for private equity.