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This Old House - Do-it-Yourself

4 Tips To Find Motivated Sellers In Your City

Written by Posted On Monday, 16 April 2018 06:30

Do you own a real estate company? One of the most important things you need to do is to find motivated sellers and not just a few, but lots of them. It is a prominent thing to do as every other processes and operation are solely based on it. If you fail to find a good number of motivated sellers, you might end up closing the business.

Motivated seller: what is it?

It is a broad term actually. If we go by definition, it is a real estate property owner who wants to do one of the following things:

He/she wants to sell a real estate property for a very small price:

It does mean that he is willing to sell his property at a very low rate, about 10 to 30% of market value.

He wants to sell his property with flexible terms and conditions:

Sometimes, with no interests and no money down.

Here comes a very common problem: first of all, it is quite impossible to find such an insane person as he has to agree to your terms and conditions and interests. Can you find a person who can offer a ridiculous offer made by you?

If you are planning to put your weapons down, wait. It is possible to find such sellers in the market who is willing to lose all and give away everything without any benefits. There are many such sellers out there who fall into this category and all you need to do is to churn them out and that is all.

Here is a list of things you need to do to find such motivated sellers and it will make your profits handsome.


Getting The List:

First and foremost, you need to find a list of such motivated sellers who want to sell their properties. There are many types of lists available and you need to look at almost all the numbers. You might come across lists such as absentee owners, attorneys, out of state landlords, foreclosures, properties with liens and homeowners on probate.

There are many companies that can offer such lists of motivated sellers and all you need to do is to find such lists. Once you get the list, send them out your marketing documents. You can call them personally or mail them about your offers.


Preparing Marketing Materials:

When it comes to convincing these motivated sellers to give away their properties for almost anything, it is imperative that you have sound marketing collaterals. It might consist of emails, web pages, postcards, brochures, a conference call speech and many other things.
Out of all, emails are very important as they will directly go to the seller's mailbox and he is going to read it. If he does not find it interesting, all your efforts will go in vain. Hire best graphic designers and writers to come up with a creative and engaging mail copy. You need to basically sell the idea the best way you can by adding fancy buzzwords such as: “get your very own fully renovated home office with funky office furniture items at this property.” Something quirky and creative along those lines.

Send The Mail To The Sellers:

It is a time that you deliver the mailer to the motivated sellers. Once you are done with it, you will start getting responses from them. The response ratio is about 4 to 5%. don't lose your heart if you get fewer responses. It happens sometimes.

Filter Those Needs:

Schedule phone calls with sellers who have responded to you. Ensure that you discuss in details with each seller and find out why they want to sell out their property. Also, tell them what you are offering to them.


Though it is considered a hard job to find motivated sellers, you can find a good number of sellers who actually want to sell their properties at your terms and conditions. 


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