Motivated sellers in divorce?

7 Replies

Can motivated seller leads be found through people going through divorce? Is it a bad idea to send direct mail to divorce lawyers asking if they have clients that want to sell their homes during their divorce?

Originally posted by @Tony Marcelle :

Can motivated seller leads be found through people going through divorce? Is it a bad idea to send direct mail to divorce lawyers asking if they have clients that want to sell their homes during their divorce?

 The lawyers will ignore you. They can't give away that kind of confidential information. Besides, you need both signatures of the couple in most cases and in most states. How likely are they going to be to sell without getting an official real estate opinion of the property? If they are going through a divorce, the court will probably require an appraisal. 

There are far better ways to find motivated sellers. After the divorce has settled in and one party is trying to make the payments instead of having two people make the payments, reality sets in of how stupid getting a divorce was in the first place. THEN they are motivated. I've seen it over and over again, a couple could have worked out the issues, (Yes in most cases they can) but they won't just step back and take a deep breath and think about what they are doing, They married for a reason and that reason still exists. By the way, I've been married to my one and only wife for 40 years. Yes, had tough times, that's why I know what I know. We got through it, together. On purpose, together. The good times do come again. ;-) 

You will just have to wait until they realize they can't make the payment on their own.

Originally posted by Account Closed:
Originally posted by @Tony Marcelle:

Can motivated seller leads be found through people going through divorce? Is it a bad idea to send direct mail to divorce lawyers asking if they have clients that want to sell their homes during their divorce?

 The lawyers will ignore you. They can't give away that kind of confidential information. Besides, you need both signatures of the couple in most cases and in most states. How likely are they going to be to sell without getting an official real estate opinion of the property? If they are going through a divorce, the court will probably require an appraisal. 

There are far better ways to find motivated sellers. After the divorce has settled in and one party is trying to make the payments instead of having two people make the payments, reality sets in of how stupid getting a divorce was in the first place. THEN they are motivated. I've seen it over and over again, a couple could have worked out the issues, (Yes in most cases they can) but they won't just step back and take a deep breath and think about what they are doing, They married for a reason and that reason still exists. By the way, I've been married to my one and only wife for 40 years. Yes, had tough times, that's why I know what I know. We got through it, together. On purpose, together. The good times do come again. ;-) 

You will just have to wait until they realize they can't make the payment on their own.

 Thanks for telling me that. I almost wasted my effort contacting lawyers. I was just figuring some "creative" marketing tactics. Congrats on 40 years of marriage. That sounds tough to do these days.

@Tony Marcelle I actually think divorce attorneys could be a potential source for acquiring deals. I wouldn't necessarily waste money sending them direct mail but I would still contact them and let them know what I'm looking for and tell them if I could be of help to any of their clients to please keep me in mind and/or pass along my info. It can't hurt to try!

Hit them both on FB using custom audiences.  Use a 20 second video that sends them to a landing page.  Come up with something witty and thought-provoking -- not easy but possible -- and see who clicks on it.  You can even retarget them with a follow up add, based on the amount of seconds they actually watch. 

The hard part for me is getting a reliable list of names.  I've not even tried to jump into this segment yet.

@Mark Sewell and @Tony Marcelle  The only Divorced List that I know of is a "Recently Divorced". People who have self-reported in some sort of survey within the last 12 months that they are "recently divorced". It's owner occupied only and can be paired with 2+ year ownership. The assumption (but not guarantee) is that it's the marital asset.

From what @Account Closed says that might be the way to go.

@Tony Marcelle I've marketed to divorce leads before. My only issue is there usually aren't enough leads available in my market to land a deal. I've always been at odds with this list, as well as probates because I feel like you're profiting from others misfortune.

I haven't used attorneys to get these lists. However, I have used Investor's Title Toolbox to pull them. I believe it's pulling records from the county when the homeowners file for divorce. Their datasets are updated often. I would check them out if you're going to be pulling a large number of these types of leads consistently. If you're marketing to them, then I WOULD NOT mention their situation in the mail piece. In lists like this, you want to still come off like you're just interested in buying a house and you're blanketing their area with marketing. If you start discussing their divorce, then you can lose credibility and it might freak them out; I know I would be. What you can do is indicate that you buy inherited properties, properties that need repair, properties from sellers that are going through a divorce, etc. You can mention it, but don't single that situation out. Hope this helps.