There are various sources you can turn to in order to find motivated sellers. Today, I’d like to go over three excellent sources to find such leads, so you can continue to enjoy success in your real estate investment journey.
- For Sale By Owner (FSBO) Or For Rent By Owner (FRBO)
Those that have posted their homes FSBO or FRBO are motivated to sell their homes. Whether they posted their ad on Craigslist, Redfin, Trulia, etc., they’re at least a little bit motivated in order to go through the trouble to post a classified ad.
Now, they may not realize how to really go about selling their home on their own. They might not realize that most homes don’t sell FSBO. But this is where you come in. This is where you can approach them and help them see that you have a solution to their problem. They want or need to sell their home as soon as possible for a particular price. They don’t want to list it with a realtor because they don’t want to pay the 10-15% closing costs.
Many times, you catch them at the correct time when they are tired of trying to sell and their motivation is high. It is all about timing and their situation.
- Expired Listings
Another great source to find motivated seller leads are expired listings. These are the homes that were listed by a realtor on the MLS for a certain amount of time but didn’t sell. Therefore, the listing expired. These are the homeowners that are motivated to sell. After all, their home just spent six months or more on the market unsold. They may be sad or frustrated. They may be upset with their realtor and realtors in general. This is where you can come in and present to them another option – the Subject-To strategy, so they can sell their home fast for a price that is a win-win for both of you.
A third excellent source for motivated seller leads are absentee owners. These are folks who own a house but do not live in it. They own it, but they have another address. A great way to find these houses is to do a search at the tax assessors office and pull the list from there or buy a list form a provider like Listsource.com. You can market to them via snail mail or if you can retrieve their phone number and give them a call.
Leads are important, so the more leads you get, the more opportunity to land and close deals. Become familiar with these sources for finding motivated sellers and target them often. You should be able to get quality leads when you’re consistent and follow through using the strategies I teach.