Dialing for short sale leads

For the past 6 months or so, I have been executing telemarketing campaigns to generate short sale leads. We start out with old loan modification leads generated on the Internet or by direct response to a TV ad. These leads are then uploaded to a predictive dialer and agents log in remotely to start dialing the campaign.

The script goes something like this..

Hello, this is ____from the Mortgage Help Center, we are following up on the inquiry you made in____________, did you get the help you were looking for? (pause) Do you still need help with mortgage or would you be interested in selling your home?

If the answer is yes, the telemarketer transfers the call to the agent.

The campaign has had mixed results depending on the area we have been targeting. Below you will see the number and type of leads we got.

2000 calls to Southern California 32 loan mod leads 1 short sale lead.

1000 calls to New York City 16 loan mod leads 4 short sale leads.

1000 calls to Las Vegas 22 loan mod leads 7 short sale leads.

The conclusion I draw from these campaigns is that if you are trying to generate short sale leads, you must be able to offer the homeowner that is intent on saving their home alternatives to a short sale - loan modification. After that process has been exhausted, then a short sale is appropriate.

Here is the 5 step strategy that I recommend.

1. Align yourself with a local, reputable loan modification company or attorney.

2. Execute a marketing campaign to contact people who have previously inquired about loan modification.

3. Take loan mod apps from homeowners and pass them on to your partner.

4. Get short sale leads from your partners old book of failed loan mods. (about 65% fail)

5. Repeat