You are searching for sellers whose number one objective is to sell their property. You are searching for inspired sellers (A DON’T WANTER). If you are dealing with anyone else, you are going down the wrong route. It would be a good thing to get a real estate license. Even when you are dealing with someone who is not a motivated seller and who’s #1 objective is not to get rid of the property, a real estate license can earn you money by listing the property for the person, or refer them to someone else that would be better as a listing real estate agent for the property.
When I call on someone who wants to sell their property, I have found they know the value and their options. We review what the after repaired value is with them and what we would offer. We also advise them as to their options regarding getting pre-qualified by a mortgage company, or any other options that might be the best solution for them. If they are motivated sellers whose #1 objective is to get rid of the property, then they will look to work out a sale with you. I feel it is important to let them know all their options such as to list property, take investor offer, or refinance a property. If you present to them what is you see as their possible solutions it will make a difference for them regarding saving the property through refinancing, or you might get the listing or referral fee from another realtor that gets the property sold for the owner. The bottom line is you served them and in doing that, you get taken care of also.
Some patterns of motivated sellers are:
a. Divorce - The couple has separated. They now have doubled their individual overhead. They have two house payments now. The home they shared required two incomes. The marital house is headed for foreclosure
b. Probated Estates- the attorney in charge will like to discharge the estate as quickly as possible
c. Loss of job
d. Tired Landlords - People who jump into this venture and can't handle asset management.
e. Partnership split – The business of finding motivated sellers is a good one.
f. Move out of state- double house payments
g. Tax Forecloures
In this business, the key is to stay focused on making sure you have motivated seller. Said anyother way is that the person #1 objective is to get rid of their property. Good hunting for Motivated sellers!