How to Find Motivated Sellers

How To Find Motivated Sellers

In real estate investing, one of the hardest things to do is to learn how to find motivated sellers.

Motivated sellers are key to a good real estate investing strategy. Motivated sellers are crucial to making money with most real estate investing strategies.

How to Find Motivated Sellers – The Traditional Way

There are many old-school traditional places that you can go to look for motivated sellers. 

1. MLS – yes, there are still motivated seller deals to be found in MLS.

2. For sale by owner (FSBO) sites – sellers who can’t afford a realtor will list on FSBO sites

3. Online classified Ad sites – places like Craigslist and Kijiji (in Canada)

4. Talking to real estate professionals – start calling up Realtors and mortgage brokers, telling them that you are in the real estate business and you’re looking for deals.

How to Identify A Motivated Seller

By telltale signs, what I mean is actual words in the listing … in the ad that the motivated sellers are running, that might clue you in that they are motivated. Look for words in there that would indicate to you that the seller is motivated. 

Motivated Seller

One thing they might say in the ad is motivated seller. A lot of times Realtors will also put that in their listing just to let you know that there are some people that are really interested in selling their property fast. But an MLS motivated seller may not be that motivated. So be careful with those listings.

Fixer Upper

Another keyword is fixer-upper. So a fixer-upper property might be a property that requires repair. This is an assessment by the person running the ad 

Moving

Just moved is a good thing to look for. Moving is another word to look for. 

For Sale AND For Rent

Another thing to look for is people listing for both sell and rent or even rent to own. This is a very motivated seller. They are basically listing it everywhere and just trying to do something with it.

How to Find Motivated Sellers – Advanced Strategies

Finding motivated sellers can be challenging. However, with the right strategies, you can find motivated sellers and close your deals quickly. In this section, we will discuss the different ways you can find motivated sellers in real estate investing.

1. Direct Mail Campaigns

Direct mail is a traditional and still effective way of reaching out to potential sellers. You can create a list of potential sellers in your area and send them a personalized letter or postcard. Ensure that the letter is well-written, clear, and concise, and it should include your contact information. One good thing about direct mail campaigns is that they are targeted to specific audiences. You can send letters to homeowners who have been in their homes for a long time or who have recently inherited their properties. With the right targeting, you can increase your chances of finding motivated sellers who are willing to sell their homes. Use software like PropertyRadar to identify motivated sellers.

2. Search for Probate Leads

Probate leads are properties that have been inherited by someone who has recently passed away. In most cases, the heirs are not interested in keeping the property and are looking to sell it. Finding probate leads can be a bit challenging, but it can be a goldmine for real estate investors. Probate leads are usually available in public records, and you can search for them online. You can also reach out to probate attorneys, estate planners, and funeral homes to get information on probate leads. You can use Propstream to get access to a list of probate deals.

3. Networking

Networking is one of the most effective ways to find motivated sellers. You can attend real estate investment clubs or join real estate investment groups in your area. You will get to meet other investors, real estate agents, and other professionals who can help you find motivated sellers. Networking is an ongoing process, and it requires consistency and patience. You should attend meetings regularly and build relationships with other professionals in the real estate industry. You can also attend industry events and conferences to meet new people.

4. Online Marketing

Online marketing is another effective way to find motivated sellers. You can create a website, social media pages or use paid ads to reach out to potential sellers. Your website should be well-designed, informative, and easy to navigate. Carrot offers pre-built websites that are very affordable and very effective. You can also use search engine optimization (SEO) to rank higher on search engines. Social media marketing can also be effective in finding motivated sellers. You can create Facebook ads or use LinkedIn to reach out to potential sellers. You can also join real estate investment groups on social media platforms.

5. Cold Calling

Cold calling is a strategy that requires patience, persistence, and thick skin. You can call homeowners or landlords and ask if they are interested in selling their properties. The key to success in cold calling is having a good script, being confident, and having the right mindset. You can purchase a list of potential sellers and start making calls using a product like Batch Caller. Ensure that your call list is targeted and that you have researched the properties and the owners. You can also use software tools to automate your calls and track your progress.

Conclusion

In conclusion, finding motivated sellers in real estate investing requires patience, persistence, and the right strategies. Direct mail campaigns, networking, online marketing, probate leads, and cold calling are effective ways to find motivated sellers. However, you should also be creative and think outside the box to find motivated sellers. With the right strategies, you can find motivated sellers and close your deals quickly.

Disclosure: I may receive affiliate compensation for some of the links at no cost to you if you decide to purchase a paid plan. This site is not intending to provide financial advice. This is for entertainment and information only.

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