How to Find Motivated Sellers
One way to find motivated sellers is by going through classified ads or social media. Motivated sellers are those willing to sell an item at a lower price than its original value, as they desire a quick sale. It is key to know what you want to buy before contacting people.
To find motivated sellers, use public records, internet research and networking to make a list of property owners in the area. Strategize the best way to reach your list and draft sample messages. Real estate agents should combine internet tools with direct mail, phone calls and email campaigns, the basics of prospecting, to find and target motivated sellers.
Look for overpriced properties on market a while without selling. Contact the listing agent for more details. Motivated sellers may fix up and list cheaper, advertise more openly, show enthusiasm and make house available to view quickly. Wholesalers try finding motivated sellers to get profitable wholesale, flipping or buy-and-hold deals.
Strategies to Find Motivated Sellers
How do you find motivated sellers? Generating motivated seller leads is the back-bone of building a real estate investing business. Motivated sellers want to sell their home quickly, but what drives their desire to sell varies. Understanding the types of motivated sellers provides opportunities for investors to find great deals on properties below market value.
Divorcing couples, heirs, vacant home owners urgently relocating are common types of motivated sellers. Driving for dollars is an effective way to locate motivated sellers for new wholesalers with limited marketing budgets. Changes in life circumstances often result in motivated sellers. Legal processes forcing transactions motivate sellers nearing or in foreclosure to sell.
Types of Motivated Sellers
What are the types of motivated sellers? Owners with damaged properties from natural disasters that cannot afford repairs sell for lower prices. Property owners nearing foreclosure need to sell quickly for whatever price they can get to avoid foreclosure. Retirees settling in new locations are motivated to sell. Sellers wanting to diversify assets further are motivated. Financial, emotional, and property distress motivate sellers. Signs like price drops, days on market, and expiring tax breaks indicate motivated sellers. Distressed properties that can’t sell at market value due to factors like code violations and extensive repairs are easy for investors to buy low. Delinquent property taxes motivate sellers. REO banks want to sell inventory. Landlords with rental property and couples expecting babies need to sell. Job loss and income reduction lead to motivated sellers. Relocation and divorce force sales. Legal processes motivate distressed sellers nearing or in foreclosure to sell quickly.