Finding motivated sellers is one of the biggest challenges of real estate investors. Some investors just leave their startup businesses as they fail to find such motivated sellers and some don’t find it consistently. In any case, it is not good for your business. If you want to succeed in this cut-throat competition, it is solely based on motivated sellers you find and that too regularly. It is the best trait of the successful real estate investors and believe me, it is not hard to find. There are many portals such as Real Acquisitions that can help you out to find such motivated sellers.
According to a research, there are 5 million homes that are available to sell every year and the numbers are increasing every year. There are some investors who have a strong grip of this art and some are trying hard to get such distressed sellers. Everyone is finding one thing in the market- motivated sellers.
Yes, we use the phrase motivated sellers, but not all of them are motivated to sell their properties and the first thing that you need to do is to identify such sellers first. It takes efforts to identify such sellers and then convert them to sell their properties as prices you desire.
Questions To Ask To The Motivated Sellers:
You should be good at identifying the signs of such sellers. First of all, let’s understand the definition of the motivated seller- it is someone who want to sell his property at low price or with flexible terms.
One of the best ways to identify such sellers is to ask some questions to them. Believe me, it will reveal too much:
Why Do You Want To Sell Your Home?
Sometimes, a seller will answer to you upfront with an actual reason such as he wants to relocate to some other city or he wants cash instantly or some other reasons. However, it is not as easy as it seems while reading this piece. You need to use your interpersonal skills to get the right answer. Ask some tricky questions and he will give up. Identifying the real reason is the first thing that you need to know. It will also help you to make a deal with him. For example, if he is looking for a quick cash, you can use your negotiation skills to offer the best price he cannot refuse.
How Quickly Is The Seller Want To Sell The Property?
It also helps you. If a seller is not in hurry, he might turn stubborn while negotiating. It means that he does not have any pertaining issues to sell the property so fast. Here, you have to take care while discussing the deal. In other case, if the seller wants to sell the property immediately, you can use it in your favor. It will ensure that you can make a deal on your terms. In any case, you need to know the answer.
Which is the tentative price he is expecting?
Every seller wants the best price for the property. At least, they wish to get the price as per the market prices. Hence, you need to understand what is in his mind. Ensure that the seller opens his heart out during the first meeting.
Is The Price Flexible?
Some sellers deliberately ask for a high price and then negotiate a bit to get maximum price for the property. In such cases, you need to ask whether the seller is ready to negotiate a bit when it comes to fixing the price or not.
Analyze The Property:
It is not the question, but a tip to understand the psych of the seller. Check out whether the seller has listed his property on different listing websites. Whether an agent is representing the seller or not. What is the price has dropped down in recent times or not.
Finding a seller is not the only thing that helps you. You need to understand his needs and desires. Aforementioned questions might help you out to know the seller to make a good deal. You can get real estate lead software offered by companies such as Real Acquisitions to get good leads.