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The Often-Overlooked Opportunity in Real Estate Listings
By plrprousers | September 16, 2009
Real estate investors often think that they will not find leads in real estate listings. They believe that owners of distressed home will not want to wait around for an agent. Investors spend lots of time and money finding deals in alternate ways. These ways include 800 numbers, bandit signs and stalking down deserted properties.
But you should never neglect good sources of leads on investment properties. Real estate listings hold more promise than you might expect. There are certain things that you can determine from a real estate listing. You might end up with a great investment opportunity thanks to this information.
Never neglect free sources of deals. Use real estate listings to locate great investment properties. Always keep an eye open for these flags:
* Look for houses that have 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. If they had time to spare they would wait it out. The owner may need out if they have just dropped the price.
* FSBO (For Sale By Owner) houses are good targets - Selling a property on your own can be overwhelming. They may be glad to just get out of their situation. Since they are not paying commission they may take a lower offer.
* A good sign is when a property offers owner financing - This type of risky financing is always more perilous than bank loans. 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.
As you can see, the real estate listings are a great source of leads. Pick up your local real estate listings and start spotting potential deals.
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