Are Real Estate Listings Right for You?
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 may include bandit signs, 800 numbers and locating deserted properties.
You know that you should never neglect solid sources on leads for investment properties. However, real estate listings often hold more promise than you might think. There are certain things that you can determine from a real estate listing. Spotting these things could lead to a good investment opportunity.
Do not neglect a free source of leads. Use real estate listings to locate great investment properties. You can look for the following “flags”:
* Keep an eye out for houses that have been listed a long time - For starters, it is possible that the owners are getting nervous. They might not know that they have options other than a real estate agent. They may consider your interest a lifesaver.
* Check for lowered prices - People who drop their price may be getting motivated to sell. After all, why would you take less money if you did not need to sell fast? Drops in price may indicate an owner’s need to get out.
* FSBO signs in yards or listings are promising - It is possible that FSBO owners are getting overwhelmed. They may just be happy to be out of the situation that they were in. They might also be willing to take a lower offer because they are not paying a commission.
* Properties that offer owner financing have big potential. - Creative financing by nature is risky. Usually it involves working with buyers who cannot 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. Use your local real estate listings to spot some potential deals today.
