Often real estate investors believe that real estate listings are not good lead sources. They think that people with distressed properties will not have time to wait on an agent. Investors spend lots of time and money finding deals in alternate ways. These ways include 800 numbers, bandit signs and stalking down deserted properties.
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. These things might help you decide whether a listing is a good potential investment.
Do not neglect a free source of leads. Use real estate listings to help you find good investment properties. You should watch for these types of flags:
* Houses that have been listed for a long time. - If a house has been listed for a long time, the owners may be getting nervous. They may not know that a real estate agent is not their only option. Your contacting them could actually be a life preserver.
* • A house that has recently had the price lowered - People who are dropping their asking prices are often motivated sellers. After all, if you had all the time in the world you would wait for your asking price. Drops in price may indicate an owner’s need to get out.
* FSBO (For Sale By Owner) houses are good targets - It is possible that FSBO owners are getting overwhelmed. They may just be happy to be out of the situation that they were in. Since they do not have to pay an agent they may take a lower offer also.
* A good sign is when a property offers owner financing - Creative financing is by its very nature risky. It often involves working with buyers who do not have the credit to get bank loans. A property owner who will take this risk is often a motivated seller.
You can probably see now how real estate listings can be a great source of leads. Pick up your local paper and see how many potential deals you spot in the real estate listings right away.
