How to Use Real Estate Listings Effectively

Tuesday, October 27th, 2009 at 10:21 pm

Real estate investors often think that they will not find leads in real estate listings. They think that people with distressed properties will not have time to wait on an agent. There are many investors who decide to spend a great deal of time and money finding leads other ways. They may spend time using bandit signs, 800 numbers and offering rewards for information on deserted properties.

But any way that you can get leads on investment properties should not be neglected. Using real estate listings can often get you better results than you think. You can determine certain important things from real estate listings. These things could possibly help you spot a good investment.

Do not neglect a free source of leads. You can and should use real estate listings to locate good investment properties. Watch out for these telltale signs:

* • A house that has been listed for a long time - For one thing, the owners may be getting nervous. They may be unaware that a real estate agent is not their only option. They may feel as if you have thrown them a life preserver.

* Check for lowered prices - Houses with recent drops in price often are owned by people who are getting more motivated. After all, if they had time to spare then they would wait out the buyers. A drop in price can indicate that the owners need to get out.

* A FSBO sign is a good sign - It is possible that FSBO owners are getting overwhelmed. They may be happy to not have to deal with the situation anymore. Since they are not paying commission they may take a lower offer.

* • Properties that offer “creative” or owner-financing - This type of financing has inherent risk. It often involves working with buyers who do not have excellent credit or who cannot get bank loans. A property owner who will take this risk is often a motivated seller.

You can see now how real estate listings are actually a great source of leads. Pick up your local real estate listings and start spotting potential deals.