Step By Step on How to Find Motivated Sellers.
If you want a simple step by step guide to find motivated sellers, you have found the right place.
Step ONE to find motivated sellers: Select a list that most likely has motivated sellers.
Mailing lists that will make it easy for you to find motivated sellers:
- Notice of Default List. These are people that have received a notice of default from their bank. Basically, they missed a couple of mortgage payments and the bank has started the foreclosure process. Definitely one way to find motivated sellers, people that stopped paying and the bank is after them.
- Bankruptcy List. This is a list of people that have filed for bankruptcy. As in they can’t afford to make their payments on their debt. One key with this list is to ensure that they own a piece of real estate that you are interested in, as some of these people will be renters and marketing to them will be of no use. Another great list to find motivated sellers.
- Divorce List. Often times when people go through a divorce and there is a house involved, it will need to be sold. People in this circumstance often times just want the house sold quickly. This is a great list to go after. This is another list that you need to make sure they actually own a piece of real estate. And another great list to find motivated sellers.
Step TWO to find Motivated sellers: Get and clean the list to find motivated sellers.
- Notice of Default List: There are a number of ways to acquire a notice of default mailing list. One way is to subscribe to a local news source that provides information on a regular basis. You can also buy this type of list. By finding a good list broker to buy the list from, they will also have the ability to filter the list by property type and property details. So, if you are looking to find motivated sellers of condos, you only target condo owners.
- Bankruptcy Mailing List: This mailing list can be found a couple of ways also. You can dig throughout the court records at www.blah.com, or you can purchase it. As you have probably figured out, if you spend your time digging through records, it may be cheaper in price wise, but it will cost you a lot of time.
- Divorce List: This mailing list it typically not for sale. It will require you to either dig though local court records yourself. Or, if you are really smart with your time, you can hire someone to do it.
Now for cleaning the mailing list.
The first step is to remove duplicates. Yes, even when you buy a mailing list, you need to check it for duplicates and remove them.
The next step, especially for the lists that you didn’t buy, will be to ensure that they own real estate. This step will involve searching property records in your area to see if the person on the list actually owns real estate and isn’t a renter.
Step THREE to find motivated sellers: Mail a proven marketing piece and get motivated sellers calling you.
This is the easiest part. Well, it can be if you have already tried and tested multiple mailing campaigns and you know what works best. I would recommend you mail a handwritten letter in a hand addressed envelope. By mailing a letter in a hand addressed envelope, the letter will get opened. By using a handwritten letter, you will ensure your message gets read. Now, ensuring you are using the proper message in your letter is obviously another key to ensure you find the motivated sellers you want.
When you are ready to find motivated sellers for yourself and have them calling you give us a call at 619-565-1411 or email James at James@UpperHandMarketing.com.
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