5 Ways to Find Quality Motivated Sellers

Are you looking to buy a new home in a competitive neighborhood or city? Good luck. You are probably competing with thousands of other interested buyers trying to move in as well.

Or are you a real estate investor looking to snag your next property, to hold as a rental? Other investors probably have more money than you do.

Buying off the MLS can be very difficult in a hot market like this one. If you want to buy a house right now, you need to learn how to find motivated sellers.

These are the people who haven’t quite listed their home for sale to the public yet, but are experiencing some type of life circumstance that requires them to get rid of the house fast.

Need some tips on finding motivated sellers? Keep reading below to learn the secret real estate tips that can help you succeed in this market.

1. Understand Who Needs to Sell

Before you can find motivated sellers, you need to know who the motivated sellers are. What makes a seller motivated enough to sell their house fast and for lower than market value?

Many times, a homeowner will pass away, and the house will pass to one of their adult children. If the event was unexpected, the new homeowner won’t know what to do with the house and is likely dealing with grief and stress.

The house becomes another burden for them to account for, and they need it gone, so they can focus on the things that matter. This is common in neighborhoods that trend towards long-time homeownership.

Other times, a couple will be going through a complicated divorce, and need to sell the house fast so that the funds can be split, and both can part ways.

And still, others might get a new job opportunity in another city or state, and need to sell right away, so they can buy a new home and move in time to start their new job.

These are a fraction of the reasons that people are motivated to sell, but some of the most common. In order to find a certain type of person, you have to know what you are looking for.

By understanding where these people are coming from, once you get connected with them, you’ll know how to speak to them and have the empathy needed to learn how to close more deals.

2. Advertising to Motivated Sellers

Have you ever seen a sign on the street corner that says “We buy houses for cash” with a phone number at the bottom? These signs are present in almost every city.

The reason they are everywhere? They are surprisingly effective. While most of your signs will be ignored every single day, there will eventually be one day where the right person sees your sign at the right moment and gives you a call.

They will be desperate, and just want the deal to get done right away, so they can focus on other things.

Signs do take a bit of money to make, and a bit of time to put out in the city. But if they can lead you to just one deal, then the effort and expense were definitely worth it.

You can also advertise on billboards, or online with your own website. You can run Google Search ads or just focus on SEO to drive local, relevant traffic to the site.

You can even work with marketing companies that can help bring motivated sellers directly to you, such as Amplify My Business. Check out some of their reviews here to see how effective it is.

3. Driving for Dollars

Driving for dollars is a popular strategy for investors, but works just as well for home buyers looking to get a good deal on a fixer-upper.

All you have to do is drive around various neighborhoods throughout your city. Scan the houses on the road and look for properties that are kept well. Look out for long grass, a full mailbox, old roofing shingles, and an otherwise neglected home.

Once you know the address, you can write it down. Property owners are public records, so you can search online to figure out who to contact to try making an offer on the property. You might be able to find a phone number. But you’ll at least get their mailing address, so you can send the ma handwritten letter.

If the home is vacant, there’s a good chance the owner wants it off their hands. It might be an existing investor, who can no longer keep up with all of their properties, or who is trying to retire from active management.

4. Estate Sales and Garage Sales

Interested in finding leads for real estate before everyone else does? You need to read between the lines a little bit.

While most people who have garage sales aren’t planning to sell in the near future, some will be planning to sell. For many people, having a garage sale is their first step toward preparing their property for sale.

If you can catch them early enough, you can make an offer now, giving them the chance to sell fast, without having to get the property in selling condition.

And if you see estate sales, those will definitely point to a potential home sale. Estate sales occur after a homeowner passes away, and the family doesn’t know how else to get rid of all their belongings.

5. Asking Around

Finding homeowners who want to sell is easier when you have real conversations with real people. Is there a particular neighborhood you’d like to buy in? You can simply go for a walk through the neighborhood. If there are any homeowners outside, doing yard work, strike up a conversation.

Tell them where you’re from and that you’re looking to buy in the neighborhood. The neighbors will know everything you don’t, such as who is planning on moving, who recently passed away, and so forth.

If you’re friendly, there’s virtually nothing that people won’t share.

Cracking the Code

Motivated sellers are everywhere. In every city, people are going through difficult life circumstances and need to get property off their hands as fast as possible. Buying from these people is just a matter of finding them at the right time.

It takes a lot of work to figure it out, but it will pay off handsomely for you—and for them, once you do.

Looking for more home buying information? Head over to our blog where you’ll find other helpful articles now.