I just did a search on BiggerPockets for “motivated sellers“. Guess how many items were returned…
We found 1,928 results for ‘motivated sellers‘.
This is not surprising. One of the (many) keys to being a successful real estate investor is to find motivated sellers.
For those not familiar with the term, a motivated seller is just what it sounds like; a person who wants to sell their property and has sufficient motivation. Their motivation may come from any number of reasons, such as getting divorced, relocating, inheriting the property, a retiring landlord, etc. This is different from just any seller, as a person who wants to sell their property and a person that needs to sell their property are at different points in the process and as a result will result in different quality of deals.
Many people seek out motivated sellers when they market. An example of this would be someone who markets to properties in probate, since the people who inherit the property more than likely do not want the property. Although I also seek out motivated sellers, often times I get leads of sellers who are not motivated at the present, but may become in the future. Below are the 4 steps that I take these sellers through in order to create a motivated seller.
Note: The critical aspect of this process is to spend a little bit of time and look out for the best interest of the property owner. If you put their best interests first, great deals and success will eventually come your way.
Step 1 – Determine Their Motivation Level
The first step when dealing with any lead is to determine their motivation level. When you first speak …read more