How to get motivated seller leads

Question

I am an absentee owner. I get direct mailers daily from cash buyers. I had a conversation with a cash buyer today and they asked me "what would you sell your property for?" My number was way over fair market value. He seemed frustrated. So I asked him "why would you think an absentee owner would be motivated to sell their property" Because that's what everyone says to do!! There is no list that targets motivated sellers. If there was then conversion rates wouldn't be 4%-3%

Then I asked him if he has a website, but he didn't. Why would I sell my house to someone who cold calls me, sends me a letter, and doesn't even have a website so I can see who I am selling my property to? The moral of the story, if you rank #1 on google in your market you will get all the leads so why spend money and TIME cold calling, direct mailing, or driving for dollars. Make the investment into your website and have motivated sellers to come to you!

Wale Lawal · Answer

@Dom BattezzatoMore often than not, a motivated seller has a strict timeline that they are trying to meet. Their goal is to move the property quickly, which is part of the reason why you may have access to it at a low cost. Due to this unofficial stipulation, it is not rare to find motivated seller leads.Here’s how to find motivated seller leads:Step 1: Finding the dataIn order to have a list that you can then use to advertise your desire to buy a property, you have to know where to find the data. One way to do so is by working with the county you’re targeting, as there’s a good chance that they will already have data that you may find useful.Head to the courthouse - Your local courthouse has a lot of data on file that could give great signals as to whether or not a homeowner may be a potentially motivated seller.Specialized websites can be useful too - Craigslist is another site to find motivated seller leads. You’ll want to find "For-Sale-By-Owner" (FSBO) properties, which the seller may mention in the post, although this isn’t always the case. If it’s not, begin a conversation and learn more about the property.A data provider can also go a long way - There are real estate data services that can also help you find a motivated seller leads list. You can find some great companies that offer you clean and straightforward lists, but the quality of these lists is often linked directly with the price of their services.Step 2: Developing the listDeveloping your list of motivated seller leads based on the data you have collected is the next step to achieving success.Property owners with delinquent taxes - As stated above, a property owner who is behind on their taxes for at least two years will likely be on the delinquent tax list and therefore public record. These prospective sellers are in need of capital or they may lose their home entirely due to penalties, fines, and tax liens.Out-of-state or out-of-county property owners - It’s also worth keeping an eye out for owners who live either in a different state or different county of where their property is located. This is because they may not be as attached to the property.Longtime property owners - If you find a property with an owner who’s had their property for 10 years or more, there may be a good chance the owner will seek to sell. The reason for this trend is simple—having more equity available allows them more freedom to spend on something else.Absentee owners - We define absentee owners as property owners who do not live in their property, which can sometimes be related to them living elsewhere, possibly because they moved.Read this blog for detailed information https://www.kiavi.com/blog/how...

All the best!

Don Konipol · Answer

Probably 99% of people who get interested in “wholesaling” leave the business without ever making a deal; most leave after a day or two of unsuccessful cold calling.  Those are the lucky ones because they only wasted a couple of days and probably not a lot of money.  The tougher pill to swallow are the people who’ve spent $40,000 on “education and mentorship”, another $30,000 on marketing, 60 hours of labor a week for 50 weeks, and now realize that going to work as a greeter at Wallymart would have been three times more profitable.  But before they are ready to admit defeat they need to do the following1. Participate in BP forums by getting mad at anyone who posts anything negative about wholesaling2. State how much money and success their “mentor” has and how rich and successful others have become as wholesalers3. Attempt to earn back some spent cash by turning into an “evangelist” for the guru, hoping to receive a $5000 “spiff” for every person they sign up for the full mentorship4. Set up a contractor company in hopes of making some money from flippers5. Try to force a refund in whole or part by threatening to bad mouth the guru and his program, or file a complaint with governmental authorities.

Scott E. · Answer

I also get calls, texts, and letters from wholesalers pretty often.

Personally, I don't care if the wholesaler has a website. That is totally irrelevant to my situation. All I care about is how much they are willing to pay for my house. And since I'm not a motivated seller, they are never anywhere close to what it would take for me to sell to them.

I've sold dozens of homes over the past 10 years and never once have considered whether or not the buyer has a website...

Winston Dottin · Answer

It would be very interesting to know exactly how you got started. Maybe this would give an insight as to how to or how not to do things successfully

Nate Sanow · Answer

You say this because your a solid, sophisticated investor on the best platform in the world. You’d be surprised how many landlords are mom pop types and sell off to wholesalers at a significant discount.

John Underwood · Answer

Well my business partner just got us a good house for 15k from a direct mailer. So it's a numbers game.

Many people have to sell for cash due to repairs needed and overall neglect.

They would stop sending the cards if it didn't pay off occasionally.

Dom Battezzato · Answer

It doesn't matter to me if a buyer has a website either (from an investor's point of few) but this is the mistake I see investors make. We must look it at from the perspective of someone who knows nothing about real estate, your everyday person who wants to sell their house. Now sure, motivated sellers sell their houses to cash buyers all the time without a website but I would rather be the one with a website that shows credibility. The reason I've been on both sides of the aisle and I know the data. I've seen which produces more. I've been barked at, the door slammed in my face, cursed at on the phone.

Winston, if you google "who buys houses in Connecticut" and click on the first google website you will see our website. As a new investor create a website like so that shows the value and is inviting from the perspective of your everyday person who is motivated to sell their house. How does it look, how does it feel, are the pictures raw and organic

Steven Foster Wilson · Answer

I agree with Scott. Honestly, when I cold call someone they never ask if I have a website. They are normally in their late 70's or 90's and it is all about the relationship building. Can I come through? Will I make sure the deal goes through. When they see that I can close things and I am serious, they have no problem.

Cheyenne Davis · Answer

I couldn't agree more. I could care less if a buyer has a website. Totally irrelevant to their ability to buy a property. However, I'd agree that most wholesalers, especially new ones, don't have the financial ability to buy a property. Still, nothing to do with a website, though...

Dom Battezzato · Answer

John, That's great to hear! What market are you in?

How to get motivated seller leads

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