Real estate leads can make or break an investor’s business. While there are companies that sell lead lists containing hundreds of potential contacts, it is more productive to develop relationships via networking and creative marketing strategies.
In today’s market, quality real estate leads are more important than ever. Currently, there are more sellers than buyers. Of those buyers, nearly half are private investors. It is good business sense to spend time building relationships with other investors. Doing so can be instrumental in locating great deals on homes for sale and aide in liquidating investment properties no longer needed.
Another way to develop a strong list of hot leads is by connecting with realty professionals. This field encompasses a large range of helpful contacts that can include: realtors, appraisers, brokers, attorneys, and court employees.
Realtors are an excellent source for locating and selling distressed properties. Due to the economic recession many agents now specialize in selling foreclosure, bank owned, and short sale properties. They can help investors easily locate properties for sale; help locate buyers for properties owned; provide leads for leased properties; and connect investors with other professionals.
Real estate attorneys, probate lawyers, and court employees can be a great source for obtaining leads. By networking with legal professionals investors can become privy to properties entering into foreclosure; held in probate; or those needing to be liquidated due to divorce.
Probate real estate has become a popular choice amongst many investors. This type of realty involves property owned by a deceased person. Within the U.S. probate is used to settle estates not protected by a trust.
Probate properties can be a costly expense for decedent estates. The average duration of probate is 6 months. During this time the estate is responsible for continuing with mortgage loan installments, insurance premiums, homeowner’s association fees, and required maintenance.
If the estate does not have sufficient funds the court can order the property sold to satisfy mortgage debt. Even if the mortgage has been satisfied, estates may not have sufficient funds for other debt obligations. It is not uncommon for probate real estate to be sold well below market value to expedite estate settlement proceedings.
Social media networking can be a great way to obtain quality real estate leads. There is numerous realty networking groups. Most cities offer real estate clubs where professionals gather on a regular basis. These networking groups are ideal for making face-to-face connections and staying abreast of market trends.
Last, but not, investors can gain targeted leads by developing a business website or blog. These online tools let investors share information about their business, properties for sale, and provide insights and tips for buying, selling, and trading real estate.
Websites and blogs are indexed via search engines. Investors should become educated about search engine optimization (SEO) strategies or hire professional copywriters to write sales copy or blog posts.
Investors can offer complimentary reports or newsletter subscriptions that require visitors to opt-in to the service by providing their email address. This list building strategy is a great way for investors to keep their name in front of subscribers.
Incorporating a variety of networking strategies allows investors to generate real estate leads and avoid entering into cold calling strategies. In order to succeed in today’s market investors should embrace as many techniques as possible to stay ahead of the competition.