Using Real Estate Listings Effectively
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 may include bandit signs, finding deserted properties and running 800 numbers.
But you should never neglect good sources of leads on investment properties. The use of real estate listings might yield better results than you expect. You can determine a certain set of things from a real estate listing. These things could help you spot a good potential investment.
Do not overlook free sources for leads. Use real estate listings to help you find good investment properties. You should watch for these types of flags:
* Keep an eye out for houses that have been listed a long time - The owners might be getting nervous if a house has been listed for a long time. 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.
* • A house that has recently had the price lowered - Motivated sellers often are compelled to drop their asking prices. If they had time to spare they would wait it out. A drop in price can indicate that the owners need to get out.
* • FSBO (For Sale By Owner) - It is possible that FSBO owners are getting overwhelmed. They may be glad to just get out of their situation. Since they are not paying commission they may take a lower offer.
* Owner financing is a good sign - Creative financing is by its very nature risky. It may involve working with buyers who do not have enough credit to get a bank loan. If a property owner will take this type of risk then they may be a motivated seller.
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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