How to Make the Most of Real Estate Listings
Often real estate investors believe that real estate listings are not good lead sources. They think that distressed property owners will not have the time to wait around for an agent. There are many investors who decide to spend a great deal of time and money finding leads other ways. These alternatives often include staking out deserted properties, using bandit signs and 800 numbers.
But you should never neglect good sources of leads on investment properties. Using real estate listings can often get you better results than you think. A real estate listing will help you determine certain things. Spotting these things could lead to a good investment opportunity.
You should not neglect to use free sources of leads. You can and should use real estate listings to locate good investment properties. You can look for the following “flags”:
* Keep an eye out for houses that have been listed a long time - If a house has been listed for a long time, the owners may be getting nervous. However, they may not realize that they have options other than their realtor. Your contacting them could be a lifesaver as far as they are concerned.
* Check for lowered prices - People who drop their asking prices are often motivated to sell. If they had time to spare they would wait it out. Drops in price may indicate an owner’s need to get out.
* A FSBO sign is a good sign - People who are selling their property on their own may be feeling overwhelmed. They may be happy to not have to deal with the situation anymore. They might also be willing to take a lower offer because they are not paying a commission.
* Check out properties that offer owner-financing - Creative financing is an inherent risk. It often involves working with buyers who do not have excellent credit or who cannot get bank loans. Property owners willing to take this kind of risk generally are motivated sellers.
It is probably clear now that real estate listings are a great source of leads. Use your local paper to spot potential deals in real estate listings right away.
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Tags: distressed property, investment property, MLS, motivated seller, real estate investing, real estate investor, real estate listings