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May 24, 2024 PropStream

Pursuing Pre-Foreclosure Leads: 3 Cold-Calling Scripts for Agents

Have you reached out to homeowners facing pre-foreclosure lately? Home foreclosures are on the rise—and many of these owners want to sell quickly to avoid a negative impact on their credit.

However, reaching out to leads facing financial difficulties can be tricky. These owners often receive unwanted calls from debt collectors, mortgage companies, etc., hoping to buy their homes for far below market value.

So, how do you turn a pre-foreclosure lead into a potential client? The right pitch is a great place to start. In this article, you’ll get practical tips for cold-calling pre-foreclosure leads and several scripts you can use immediately.

Table of Contents

Create Your Pre-Foreclosure List: PropStream It!

Key Takeaways:

  • Reaching out to pre-foreclosure leads can be valuable—but it can also be difficult to know what to say.
  • You can improve your cold-calling success by expressing empathy, researching, being concise and consistent, and following the format of a perfect pitch.
  • Using a cold-calling script can help you save time and avoid anxiety on the phone. Feel free to use the scripts in this article!

5 Tips for Cold-Calling Pre-Foreclosure Leads

The average success rate for cold-calling is 4.82%. But you can improve your chances by following best practices like the ones below.

1. Lead With Empathy

Before calling, take time to think about how the person may be feeling about their situation. Remember that although some people facing pre-foreclosure are eager to sell, many would much rather find a way to stay in their homes.

Empathy is a mixture of expressing understanding and support and actively listening. Let owners share their concerns about the foreclosure or selling process with you. This can help build trust and rapport, an essential ingredient in any agent-client relationship.

2. Be Concise

Avoid spending too much time talking about yourself. Be brief as you communicate empathy and explain who you are, why you’re reaching out, and how you can help. Then, give your lead a chance to respond.

3. Research Before Calling

People facing pre-foreclosure may have little patience for agents who don’t understand their situation. Before cold-calling a lead, research how foreclosure works in their area, where they are in the process, and any options available to them right now.

4. Be Consistent

Cold-calling works best when you’re consistent. Research shows real estate professionals experience a success rate of 10-20% when they make about 20 cold calls daily.

5. Use a Script

No matter how well you know your selling points, talking to someone on the phone can be intimidating and cause you to forget critical details or misspeak. To avoid confusion or anxiety, use cold-calling scripts that are tailored for pre-foreclosure leads.

We’ll give you several pre-foreclosure cold-calling scripts later in this article. But first, let’s take a quick look at the ingredients of a perfect pitch.

The Anatomy of a Perfect Pitch

In general, the ideal pitch follows a predictable pattern:

pre-foreclosure leads

Once you have an outline, you can begin writing a personalized pitch. You can also use one of the scripts below. 

3 Scripts for Cold-Calling Pre-Foreclosure Leads

Pro Tip: Feel free to tweak or combine the following scripts to match your situation.

Script #1: Focus on Solutions

“Hi, [Lead Name], this is [Your Name] calling from [Your Real Estate Agency]. I specialize in helping homeowners facing difficult situations like foreclosure. I can only imagine how overwhelming this situation must feel right now. Please know that you're not alone in this. I'm calling to see if I can help you explore all your options. Whether it’s finding a buyer quickly, negotiating with your lender, or connecting you with financial advisors, I’d be happy to guide you every step of the way. Would you be interested in discussing how we can navigate this together?”

Script #2: Focus on For Sale by Owner (FSBO)

“Hi, [Lead Name]. I’m [Your Name] from [Your Real Estate Agency]. I noticed your home is listed ‘for sale by owner,’ and I wanted to offer my support. I know selling a home can be challenging, especially when facing pre-foreclosure, so I commend your efforts. As an agent, I’ve worked with numerous homeowners facing situations like yours, and I’d be happy to offer you my expertise. Would you be interested in scheduling a consultation? [If they express hesitancy:] I understand you may have reservations about working with an agent, but I’d encourage you to consider the benefits it could bring. I can help you streamline the selling process, attract more qualified buyers, and achieve the best possible outcome for your situation. Let me know if you’d like to schedule a time to meet."

Script #3: Focus on Swift Action

"Hi, [Lead Name]. This is [Your Name] with [Your Real Estate Agency]. I understand this may be a challenging time for you, and I'm calling to offer support. I have experience helping homeowners avoid foreclosure by selling quickly, and I can help you explore your options and find the right solution. You certainly have options, such as negotiating with your lender or selling your property. Given your stage in the pre-foreclosure process, you may desire quick action and results, and I’m ready to work along your timeline. Would you like to schedule a consultation to discuss your situation more?”

Cold-calling pre-foreclosure leads is easier with the proper scripts. 

Create your list of pre-foreclosure leads, perform research, and collect contact information using PropStream so you can start using the scripts in this article today!

Activate your free 7-day trial today to enjoy 50 complimentary leads.

Psst! Enroll in our free course, Lead Strategies for The Modern Agent, for more free scripts!

Published by PropStream May 24, 2024