Basic Truths About What A Motivated Seller Is……. By remembering just a few basics, you, as a Real Estate Investor, can quickly determine whether or not a seller is motivated to sell their property. First of all, a motivated seller will ask questions like “how soon can you buy my house?” or “How can you help me get out of this situation?” or “How soon can you get here?” An experienced Real Estate Investor knows these are really good questions for a seller to ask.
There are two types of houses we are going to buy, either pretty houses or ugly houses and there are motivated sellers in both of these categories. When you are marketing to sellers, there are certain types of sellers who are much more likely to have a house they need to sell.
For example, I personally like working with out of state owners (folks who own a property where you live but don’t live there full time), heirs, divorces, vacant houses, estate and probate properties, military transfers and pre-foreclosures. These sellers are much more likely to have a house they need to sell “right now” and that’s the kind of seller you want to work with. As a Real Estate Investor, you may also run into landlords who are fed up with tenants ruining their properties over and over. These are all good sources of motivated sellers. Most of these sellers are folks who don’t live in these properties.
Okay, so how are you, the Real Estate Investor, going to identify a motivated seller? First of all, don’t be afraid to ask questions. This is a basic truth in the real estate investing business. The more willing a seller is to answer whatever questions you ask, the more motivated they are. Never be afraid to ask “Is that the least you would take?” You might be really surprised at the answer to this question, especially if you are dealing with a motivated seller.
For example, I recently worked with a seller who was asking $205,000 for a property in good condition worth $275,000. This seller was already motivated, but I ended up paying only $180,000 for this property simply because she asked if they would accept a lower price. So be willing to ask questions and know that the more willing a seller is to answer them, the better deal you will make. This is going to be very crucial to the success of your real estate investing business and the amount of profit you make on your deals.
Secondly target your marketing at the sellers who are going to be truly motivated. This will bring you the highest number of profitable deals in your real estate investing business. Invest in my Marketing Magic System and learn how to find all the motivated sellers you need for your real estate investing business.
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