Find Motivated Seller Leads in Real Estate
If there’s one area that distinguishes the struggling investor from a superior redeveloper, it may not be aptitude, wealth, or personality, but rather a system for finding motivated sellers. As a successful real estate investor, a vital skill-set knows how to find motivated seller leads in 28 days or less. Therefore, through the leads, an investor reduces the waste of valuable time convincing sellers that parting with their home is a good idea instead of working with sellers who are passionate about moving ahead with a deal.
Kingdom Valley is an excellent real estate project with a valid No-Objection-Certificate. Moreover, the property is available at a highly affordable payment plan that is payable in instalments.
Who are Motivated Sellers?
A motivated seller is an individual keen to get rid of a property in their possession. Therefore, a motivated seller is a property owner who will fulfil at least one of the following conditions:
- Ready to sell the property at a very reasonable price which is usually 10-30% below market value.
- Ready to sell the property at highly reasonable terms, consisting of aspects like no money down, 0% interest, financing, and furthermore.
5 Step Guide on How to Find Motivated Seller Leads in 28 Days or Less
Motivated sellers are present everywhere around us; we have to identify them and act accordingly. Below is a 5-step guide on how to find them in 28 days or less.
1. Develop Your List
The first step is all about finding the correct list of motivated home sellers and then sending them marketing pieces—commonly in the form of direct mail—that compels them to you or your team. Furthermore, there are several kinds of lists, but it is generally a good idea to initiate with one or two and build out from there. Here are some different types of motivated lead lists you could obtain and market to:
- Attorneys (Probate, divorce, estate, etc.)
- Absentee owners
- Out-of-state landlords
- People who own homes free-and-clear
- Properties with liens
- Homeowners in probate
2. Establish Your Marketing
Once the targeted list creation, the next step is to establish marketing collaterals. These include:
- Direct Mail Piece: Postcard, letter, lumpy mail, or brochure
- Website Squeeze Page: Where motivated sellers will visit your page and share their contact info
- Phone Lead-Acquisition System: This is as straight-forward as a Google Voicemail account or as complicated as a customer service team
The direct mail piece is the most necessary as phone scripts or website copies adapt quickly, but no leads will materialize unless you get your direct mail pieces linked with potential sellers.
3. Send the Direct Mail Out and Wait for A Response
Once the list of seller leads compilation, it is time to launch the initial direct mail campaign. An acceptable response rate for direct mail is approximately 4-5 per cent. Therefore, if you send out 250 pieces, you can expect around 12 responses. Moreover, this is the lightest week on your 28-day seller lead calendar. Furthermore, incredibly personalized letters lead to the best response rates, including handwritten addresses on the envelope or notes written on lined paper.
4. Filter the Leads
Once the seller leads respond, the next step is to schedule a phone call or meeting to discover the maximum amount of information regarding the seller and the property. This includes factors like the reason behind selling the property, how long they have lived there, the monetary amount they are expecting in exchange, who is on the title etc.
5. Follow Up
Schedule reminders to follow up with your seller leads. Moreover, this can be through an email or a phone call. Estate Land Marketing recommends a follow-up, and the reason behind it is that time is required to cultivate trusting relationships, and not all of your leads will feel ready to sell right away. Therefore, once you’ve initiated the process, it takes some time before a lead starts to feel ready to sell. Thus, scheduling a follow-up and maintaining contact with your leads will help you catch them at just the right time.
Tips for Negotiating with Motivated Sellers
Here are a few points for negotiating with motivated sellers:
- Identify the motivation: Identify the source of the owner’s motivation to sell since the circumstances assist in navigating the negotiation process.
- Present a low offer: Some motivated sellers are receptive towards accepting an offer lower than the initial one. Therefore, it is advantageous to present a low offer.
- Wait for a price reduction: If a motivated seller’s property is on the market for 30 days or more, they will often reduce the price.
- Determine other substantial factors: Identify sellers’ hesitations and ease their concerns to build trust and conclude a successful transaction.
Finding motivated seller leads in 28 days or less is relatively easy. You need to segment your list of buyers, provide them with marketing materials that speak to them on a deeper level, and communicate conversationally. Furthermore, consistency and patience lead to the fulfilment of real estate dreams.