Many times investors think that they will not find leads in real estate listings. They think that if people have distressed homes they will not have time to wait around for an agent. There are many investors who decide to spend a great deal of time and money finding leads other ways. They may spend time using bandit signs, 800 numbers and offering rewards for information on 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. You can determine a certain set of things from a real estate listing. These things could help you spot a good potential investment.
if they are good, do not neglect free sources of leads. Use real estate listings to help you find good investment properties. Keep an eye out for the following flags:
* • A house that has been listed for a long time - For one thing, the owners may be getting nervous. They might not realize that there are options outside of a realtor. They likely will consider your interest with excitement.
* Check for lowered prices - Houses with recent drops in price often are owned by people who are getting more motivated. After all, if you had all the time in the world you would wait for your asking price. A drop in price can be an indicator that the owner needs out.
* FSBO (For Sale By Owner) houses are good targets - Selling a property on your own can be overwhelming. They may just be happy to be out of the situation that they were in. Because they are not paying an agent, they may also be willing to take a lower offer.
* Check out properties that offer owner-financing - Creative financing is an inherent risk. It often involves working with buyers who do not have excellent credit or who cannot get bank loans. A property owner who will take this risk is often a motivated seller.
You can see now how real estate listings are actually 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.
Gavin King is the Designated Broker of Realty In Idaho.
