How to Effectively Door Knock Homeowners for Foreclosure Deals

Did you know that I have a full kit for you to take with you to go out door knocking looking for deals? It comes as a digital file that you can either keep on your digital device or that can be printed off and organized into a binder, which is how I personally keep mine. If you didn’t know or haven’t gotten it, there is absolutely no excuse as to why you don’t need it! Let’s go over, together, what is included in this awesome tool and how you can use it when you go out. After you have this, all you will need is yourself, a little preparation, and the local foreclosure list where you are looking for your property.

Step 1: Preparing Your Foreclosure List and Route

Step 2: Approaching Homeowners with Confidence

How do you start the conversation with the homeowner? It can be intimidating for sure, but keep it simple! You could say something like, “Hi there, I see you have a pending problem with your property. I specialize in helping folks like you have more time to spend in their house. I use a ‘Fed Up’ program that will buy you more time before going into foreclosure. Which of these are you using?” Then, you will have the brochure with you, and they can tell you which they are using and where they stand with that. (I also have a series in my podcasts that walks through each of those options and teaches you how to convey them to the homeowner! Go check those out to gain some tips and insight.)

Building a Connection: Understanding the Homeowner’s Situation

Use the time given during the first visit to learn about the homeowner. What are they doing to try and keep their house? How is it going? Don’t be rude and nosy, but show kindness and understanding. You are at their home, and they are in distress! Use this time to build a foundation and relationship with them. You aren’t there to be a bully but to help them. Our motto here at Dwanderful is “People before Profits,” and we truly stand behind that! Let the homeowner know that you aren’t there to snatch up their home, but that you are there to help mentor them through the process, and then if it becomes apparent that they are not going to be able to stay in their home, you will be there to step in and help out.

What to Do When No One Is Home: Leaving a Personal Touch

What if you knock on the door and no one is home? This is where your preparation comes into play. Leave them a “Sorry I missed you” card in their door! Make it personal; put their name and address on there and how they can reach back out to you. If you leave these, make note of it! We aren’t going to leave it up to them to reach out, but we will look in the phone book or online for their contact information so that we can call or reach out on social media.

The Importance of Staying Organized: What to Keep in Your Binder

Let’s talk about your binder now. In that binder, you will have your “Just do it” forms, the “Sorry I missed you” cards, authorization for release forms, homeowners agreements, purchase agreements, power of attorney, and then flyers and promo photos that you can leave about town. Keeping all of this in a simple binder makes you much less intimidating and way more approachable than carrying a briefcase around! Keep it organized and labeled so you can quickly and easily find what you need without fumbling around in front of the homeowner. If you do business in an unorganized way, that isn’t going to give them very much confidence in you!

Securing the Deal: Handling the Homeowners Agreement

So now, you’ve spoken to the homeowner, and your intentions have been established. What do you do when the homeowner says, “Yep, I’d like to work with you”? Pull out that Real Estate Purchase Agreement for Properties in Foreclosure and the Homeowners Agreement. That homeowner’s agreement NEEDS to be signed, or there cannot be any deals. Those documents are legally binding and need to be notarized. This shows that they understand what you are offering them and that they agree to the terms. This covers you and is helpful to them to be able to reference back to.

Mastering Your Contract: Key to Successful Negotiations

You NEED to know your contract like the back of your hand. Knowing your contract will make you able to fully explain to your homeowner what you are offering them and also make both parties aware of what their rights, protections, and expectations are. Knowing your contract will also help you to be comfortable with what you can reasonably offer to the homeowner.

Leveraging the “Fed Up” Package for Seamless Transactions

Having my “Fed Up” package is going to be your step-by-step guidebook on how to make these deals work for you and the homeowner in a legally safe way for both parties. What makes this package even better is if you pair it with the webinar Bill and I have that will teach you exactly how to use it and explain line by line how your contract works. We will walk you through each step!

Always Be Prepared: Why Your Binder Should Be Your Constant Companion

Keep your binder with you in your car everywhere you go because you never know what you will encounter while you are out. Maybe you will strike up a conversation with a distressed homeowner; maybe you will see a billboard where you can put your flyer or a place where you can put your bumper sticker or bandit sign. Be aware of your surroundings and be open to talking to folks. If you give a distressed homeowner the time to talk, they will tell YOU why they need you and how you can help.

Educate Yourself: Resources to Boost Your Confidence

Now is the time to soak up all the information we have to give you and the education we provide. We will hold your hand and walk you step-by-step through your first rounds of door knocking and help you gain the confidence to help homeowners in need. Not finding what you are looking for on our website? Shoot me a message on social media, and I will be sure to get you links to everything you will need to get started!

Conclusion:

Now that you have all the tools and knowledge at your disposal, you’re ready to take on door knocking with confidence and professionalism. Whether you’re just starting or looking to refine your approach, having a well-organized binder, understanding your foreclosure list, and mastering the art of communication with homeowners are crucial steps in your journey. Remember, at Dwanderful, our motto is “People before Profits,” and this mindset should guide every interaction you have.

If you’re looking for additional support, you don’t have to go it alone. Visit our website, Dwanderful, to explore more resources and tools tailored for real estate investors like you. You can also book a consultation with us to discuss your real estate strategy and get personalized advice to help you succeed. Let us be your partner in this journey, providing you with the education and support you need to make a positive impact on homeowners and your business.

Frequently Asked Questions:

1. How do I approach a homeowner who is in distress?

Approach the homeowner with empathy and understanding. Start by introducing yourself and your intention to help. Use simple, clear language to explain how you can assist them. Building a rapport is key—show them you are there to help, not to take advantage.

2. What should I include in my binder for door knocking?

Your binder should include essential documents like “Just do it” forms, “Sorry I missed you” cards, authorization for release forms, homeowners agreements, purchase agreements, power of attorney, and flyers. Keeping these organized will help you present yourself as professional and prepared.

3. What if the homeowner isn’t home when I visit?

If no one is home, leave a personalized “Sorry I missed you” card. Include their name, address, and your contact information. Follow up by looking up their contact details and reaching out via phone or social media.