How to find motivated sellers in a month
Ask any real estate investor what is their primary concern once they are up and running with their operations, and more often than not, they mention that their goal is to find motivated sellers in the market. Why motivated sellers? These are the kind of folks who can let you buy properties for less than market value. In fact, since they are in a hurry to sell, they are willing to price their properties comparatively low.
Like every real estate agent knows, finding a seller that is willing to go lower than fair market value is easily said than done. In fact, it might not be worth it for you if a seller insists on selling it higher than the market price. That’s why real estate investors are looking to find motivated sellers whenever and wherever they can.
To find motivated sellers, here’s a blueprint that real estate investors have relied on time and again. If you are looking to find motivated sellers in as little time as possible, then read on.
The Motivated Seller
For starters, a motivated seller is one who is simply looking to sell their place quickly and efficiently. They are not looking to haggle with buyers, and they are on a clock to dispose of their property due to various reasons.
They might consider listing their home with a realtor, but more often than not, they don’t. This is because they are looking to save money that may otherwise be pocketed by the realtor. Another reason they don’t opt for realtors is that the house could sit at the market for a very long time.
In such a scenario, a motivated seller will consider selling their home to you. Not only will you be able to take care of their problem quickly, but you will also be able to close the deal faster as well. And suppose if a motivated seller might be facing a foreclosure due to some unforeseeable life circumstances, you can help them navigate these waters efficiently.
In short, they need you as much as you need them. You are the solution and since you can help them figure out their situation quickly, they are willing to lower their asking price for the property. Real estate investors can get a 10% to 30% discount off motivated sellers in most cases.
Here is how you can find motivated sellers in a month.
First Week
You will have to consider finding some lists that give you leads to motivated sellers. Your first task is to get as many of these lists as you can.
You can get these lists by checking foreclosures, default lists. You can also get in touch with realtors and ask for expired listings. Check out some owner websites (FSBO) and see if some properties are on sale. Craigslist also helps. Be on a lookout for rented ads in online or offline newspapers. Search for properties with liens. Check with your attorney. Look out for vacant homes.
Second Week
Now you will need to start marketing yourself, letting people know about you and your services. Its essential for you to fine-tune your marketing strategy if you want to grow as a real estate investor.
Some of the ways that you can market yourself include:
· Landing page on your website
· Phone calls
Third Week
Devote this week to sending out direct mailers. The more you send, the higher your chances of being contacted by a motivated seller.
Fourth Week
This is the week to follow up. Make sure you tell marketing to route phone calls to you. Set up appointments with motivated sellers. Make sure you are working to establish a rapport with them, so consider spending time with motivated sellers and earning their trust. Have a conversation, be specific and engaging.
And that’s all there is to it. If done right, you will never have to worry about how to find a motivated seller again.