6 Tips About Motivated Sellers
| March 2, 2009 - Posted In: Real Estate Investing Articles |
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By: Brandon of Brandon’s Real Estate Investing Tools
The “Motivated Seller” is quite possibly the most used real estate investing buzz word of all time. If you’ve spent anytime in the real estate investing business you know what I’m talking about.
If you’re just starting out then it’s time you get to know the motivated seller.
What’s A Motivated Seller?
A motivated seller is someone who has a “problem.” There are many types of problems a seller can have. They may be going through the foreclosure process, divorce, probate, they may be out of town owners on a vacant property etc. etc.
Quite frankly the list of problems someone can have is a long one and too depressing to think of – just know that they have a piece of property, they’ve fallen on hard times and they need to sell their house immediately.
The Secret To A Great Deal
For you to make a profit on a property regardless of your exit strategy you need to get the property under contract at a significant discount.
A motivated seller is much more willing to sell their property for a lot less because they need to get out. You want to find those individuals who needed to sell their house yesterday and provide the necessary solutions.
What If They’re Not Motivated?
It’s tough to get someone who’s not motivated to sell their property to sell it to you at a deep discount. The homeowner with a property listed on the market at the full retail price and has no problem holding out for months to get their price is not motivated.
They will be extremely tough to negotiate with and it’ll potentially be a waste of time. You’re looking for those individuals who needed to sell yesterday.
What’s The Best Way To Find Motivated Sellers?
The best way to find a motivated seller is to have them find you! If you have a seller calling you because they saw one of your ads, boy are they motivated!
Over time you’re going to build a marketing strategy that’ll bring in leads day in and day out. When you;re first starting out however I recommend you learn before you spend money on advertising. You need to understand real estate wholesaling and investing before you start advertising.
What If I Can’t Afford Advertising?
It’s important to advertise your business using both free and paid methods. But, the most important way to advertise your business is to build your network and create relationships. Once you start networking and building relationships you’ll see your profits grow exponetially!
Some of the best ways to find motivated sellers won’t cost a penny while some methods like mailing letters, newspaper ads and TV commercial will be expensive but the returns can be huge. It’s important to create a blend of methods that work for your business.
Track Your Motivated Sellers
When someone calls you with a house they want to sell always ask how they found you! I cringe when investors ignore this question during the telephone conversation. You will always want to focus your marketing efforts on methods that work.
Now that you know what The Motivated Seller is learn how to find them with 26 Ways To Find Motivated Sellers.