3 Ways To Find Motivated Sellers
1. For Sale By Owner (FSBO) Sites
Every Real Link real estate investor that's serious about buying houses should contact homeowners who are attempting to sell their property without a real estate agent. The For Sale By Owner can be found on websites like FSBO.com and Craigslist. Investors must develop their cold calling skills. The contacts should be personal in tone. Investors should let homeowners know who they are and their desire to purchase properties. Investors should get to know the homeowners and what their needs are. Let them know someone is concerned about them and their situation. Provide them with the real market value of their property and what’s happening with the market in their neighborhood.
Many people who list their home on FSBO.com do so to keep from paying a real estate commission. Unfortunately, many of them have their properties priced too high. They may not want to accept that at first, but the longer their home is on the market, the more receptive they will become. If investors are persistent and make daily contacts, they will be in a position to make the purchase.
2. Real Link Direct Mail Campaign
Letter campaigns are another effective method used to buy properties. Currently, real estate investors are conducting lots of transactions as a result of letter campaigns. Investors should send letters to absentee homeowners. Some of them will be motivated to sell their property.
It is difficult for home owners to manage or own real estate when they live out of state. Oftentimes, they must pay someone to manage the property for them. If repairs are needed, the homeowner cannot save money by doing it themselves. Therefore, they may have high home maintenance expenses. Property taxes may be higher for out of state owners. All of these expenses may offset any profit the homeowner may receive from renting the property. If the property remains vacant for an extended length of time, the expenses may exceed the income and the homeowners will by motivated to sell.
3. The MLS (Multiple Listing Service)
Real link investors can find properties to purchase utilizing the Multiple Listing Service. The properties listed on the MLS are placed there by real estate agents, who are trying to get the highest offer for their clients and make a commission. However, real estate agents understand the market. They know when a seller refuses an offer, that seller has essentially purchased the property back for the amount they refused. The real estate agent can help sellers understand how it could be in their best interest to accept an offer from an investor, even if it’s lower than they were expecting.
All real estate investors should attempt to establish a relationship with an agent. Real estate agents who understand the business are a valuable asset to the investor. Real estate agent who partner with investors, are able to make a profit even if the purchase price is low, because they may be able to conduct more transactions. It’s also an advantage for real agents to have a relationship with an investor in case they have a seller who needs to make a distress sale. If investors establish a relation with a real estate agent it will be a win-win for both the agent and the investor.