How do I find motivated sellers?? - Posted by rachel

Posted by steve on January 25, 2000 at 14:29:16:

For starters, you’re not likely to find sufficiently motivated sellers by using realtors. Realtors tend to work with folks that THINK they need to sell, but don’t really have the same pressures to sell that the truly motivated have. As cut-throat as it might sound, one way to measure whether a property owner is sufficiently motivated is whether they’ve gotten to the point where they are selling just to cut their losses, eg. they’re so far in the hole that they just want to get away from a debt. There are other measures, to be sure, but most of them have an element of desperation as an underlying cause.

For comps, cultivate relationships with title companies. Many of them will feed you as much information as they can, in hopes of getting some work out of you. If you stick to one geographic area, you’ll get to know it pretty well, and soon you’ll know about all the sales going on and what kinds of things are influencing values.

How do I find motivated sellers?? - Posted by rachel

Posted by rachel on January 25, 2000 at 12:34:23:

Hi!
I’m a newbie! I’m trying to work this system for a few months, but haven’t had success yet. I’m working with realtors and making offers, either low priced all cash, or creative financing, but seems like the sellers aren’t motivated enough. I haven’t had any accepted offers. I’ve also responded to ads in the paper. Should I advertise that I buy houses? If so, what should I say in my ad?
If I do get responses, how do I get comps if I’m not working with a realtor?
Thanks for listening, and I appreciate your advice.
Rachel

Re: How do I find motivated sellers?? - Posted by JohnWe (NoCA)

Posted by JohnWe (NoCA) on January 27, 2000 at 12:46:28:

octitle will work for most locations around the country.

Re: How do I find motivated sellers?? - Posted by David Alexander

Posted by David Alexander on January 25, 2000 at 21:50:28:

Run I Buy Houses ads, Call on Ads, Signs That say I buy Houses, Get people calling you.

My ad reads

I Buy Houses
I Take Over Payments
Any Price, Any Condition, Any Location
Quick Close
(xxx)xxx-xxxx

There are lots of variations depending on what kind of deals your trying to put together. Be it all cash deals, taking over payments, owner financing.

Open up your newspapers and see what is there, look in the pennysaver type papers.

David Alexander

Re: How do I find motivated sellers?? - Posted by JohnWe (NoCA)

Posted by JohnWe (NoCA) on January 25, 2000 at 19:04:56:

For comps, try www.octitle.com

For motivated sellers, I guess keep trying different methods until something works!

If you’re working with realtors, make sure they’re representing you, and not the seller. In most cases they represent the seller, so it’s a little tricky to get the real truth on what’s going on. On the other hand, a real good realtor that’s on your side is very hard to replace.

Good luck!

Re: How do I find motivated sellers?? - Posted by Rob FL

Posted by Rob FL on January 25, 2000 at 15:02:48:

Ron LeGrand has 2 How-to-articles concerning this very subject. Read those.