What keywords should I tell my Realtor to look for in the MLS?

I have a realtor that is willing to do assignments with me. We talked today and she asked me to send her an email with the type of properties I'm looking for. I have watched some real estate investors touch on this subject.

Its just that they didn't go into detail with this topic.

So far I know we should tell them to look for.....

-expired listings
-homes that have been on the market for over 90 days
-As is
-Motivated sellers

I was just wondering if anyone else can tell me if there are more keywords that I should include.

If you guys have any suggestions please post them.

Jon Frame

Wholesaler · Nazareth, Pennsylvania

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Oct 10 '10, 08:54 AM

Your Realtor will probably not give you the expired listings, that means they are no longer listed and they are not guaranteed a commission.
The biggest thing right now is REO's but you cannot do a typical assignment on those so you should probably look into doing double closes depending on your market. I never really looked for key words. As an example you just tell your Realtor to look for 3+ bedroom properties under 50k in a certain area or zip code.

Jennifer W.

Real Estate Investor · New York

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Oct 19 '10, 07:18 PM

Frederick,

If you are working with the agent and have developed a rapport, they will definitely provide you with expired listings. The best key words are the following:
Needs tlc
Handyman special
Divorce
Estate Sale
Bank Owned
Motivated Seller
Transferred
Make Offers
Bring Offers
Reduced
REO
HUD
Seller Financing

Hope that helps! Good Luck!

Chris Walker

Real Estate Investor · Glen Allen VA, Virginia

41 posts
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Oct 21 '10, 10:36 AM

I've narrowed down my criteria to what I will buy. Instead of casting a big net with whatever keywords I might want to buy, I apply the tightest filter:

Bankowned.
60 Days DOM
priced at 25K
SFR.

That's what works for me.

Define your niche a little tighter and the filter gets better.

CHAMPAK SHAH

· Stone Mountain, Georgia

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Oct 21 '10, 02:39 PM

Hello --Determined --smart investor
You stole most of my words--
any way few more here --

Vacant
No Equity
Short Sale
Investors Welcome

And yes- you can get expired listings --
Best is to make agent a friend --make sure
to impress --convince that you are a serious Investor / Buyer and not wasting time --have
professional Business Cards and proof of funds if possible --

As far as Commission Guranteed -- you tell
agent and expalin your business goals and that
you will use her ( him ) as Buyer's Agent and
make offers through him ( her ) -- and even offer
extra 1% commission on first three deals --

At the same time --interview three or five agents who has experience --in REO, Short Sale etc and have closed 10 or more deals in last six months ---

Also Chris - is right --you need to define your
area --farming and then also niche --either Short Sale, REO, Rehabber , buy and hold, wholesaler , lease option etc --
Work Smart not Hard --

Curtis Gabhart

Developer · San Diego, California

84 posts
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Oct 21 '10, 07:34 PM

A great place to find great deals is pending and contingent.
Look at deals that make you go "ship, I wish I would have bought that"
then call and find out if it may fall out, lettnem know you are interested if it does, see if they will give you an idea when contingencies are up and keep following up.

I have bought quite a few great properties this year with that method.