How to Find Motivated Home Seller Leads in 5 Steps
How to Find Motivated Home Seller Leads
Are you looking forward to becoming a successful real estate agent? Well, all the aspiring agents would say yes in unison. But do you know what is the most important skill that you need to get if you desire to be a successful real estate agent? You must know the tactic or must be well versed with the real estate strategies to gain motivated seller leads. If you are able to discover motivated sellers leads for yourself, then you are differentiating yourself from the struggling agents.
But what do you mean by Motivated Sellers?
Motivated owners are the term used for the home sellers who are quite eager to sell the house, property, or any other real estate property. Motivated sellers are quite different from normal home sellers. How? Motivated sellers are always ready to sell real estate possession without a profit margin or at favorable prices. The favorable prices mean 10 to 15% below the market value. So now the next thing is how to discover these motivated seller leads. If you are not having a reliable source of motivated sellers leads, then you would be wasting time and money trying out convincing all the sellers. Moreover, you would not be able to convert any of them into potential customers. You need to search for homeowners who are passionate about selling the house and closing the deal.
One of the biggest advantages of working with a motivated seller is that you are able to close the deal at a faster speed. They generally have compelling reasons to get the property sold as soon as possible. Whereas if you are dealing with normal homeowners, you would have to spend time convincing them that they need to part from their house and get a good profit out of it. In such a dealing there are a lot of negotiations, which means that it would not be closed within a short span of time.
Well, time is money, and hence speed is one of the most valuable assets of a real estate agent. So let’s get to know what are the ways in which you can discover motivated owners.
1. Who has the best real estate leads?
You need to find the right list of motivated homeowners and then initiate contact through direct mail. Through mail, you make it easy for them to reach out to you. Now how to discover the right list of motivated owners? There are different sorts of lists that include absentee owners, out-to-sale landlords, foreclosure, and many more, these are the most important people who can be considered as motivated owners. They would be willing to sell out the real state property as soon as possible.
How do I find seller leads?
Discover Motivated Seller Through Probate Sales: Finding Motivated Seller Through Probate Sales
Generally, a probate sale happens when the homeowner passes away intestate or without bequeathing the property. This means that it is completely an off hold real estate property. This property was not left to anyone in the will, nor the owner of the house or property was transferred to anyone else. You can add it to your motivated seller’s list by searching the deceased individuals’ names in your county tax assessor’s database. In case if you have any attorney contacts, consult them on ways to access probate records.
Burnt Out Landlords Are Great Motivated Sellers Leads
You must access the government database to discover out about the non-owner occupied properties. Through the database, you can easily find a reference to the landlords who have suddenly stopped renting and been out of business for a significant amount of time. Such landlords would be eager to get the house sold as soon as possible.
Canceled Listing Seller Leads
Canceled listings seller leads can be a great opportunity for real estate agents who seek to discover the best solution for the property owner who sought out to sell. There are many reasons listings expire from a personality fit to an agent who could not show the true value of the home, from an agent with limited resources to fix up a house to sell, and the list goes on. Most of the time the property owner seeking to sell their property. Very rarely do did they decide to just stay put, because their reason to move has changed.
You can buy a daily list of canceled listings on a monthly subscription from MojoSells.com
For Sale By Owner Seller Leads provide a great source of seller leads. These are property owners looking to sell their home. They are not looking to avoid a real estate agent most of the time. Some are just testing the market to see if they can save on both the listing and buyer agent commission, but usually, they are willing to pay a buyer agent a commission for finding a buyer for them. We have seen some who just have not been able to discover a listing agent to actually show up to their appointment to list their property. Then most of the time after 14 days on the market and it is not under contract they are very opened to listing their house for sale with a local real estate agent.
You can buy a daily list of FSBO Seller Leads on a monthly subscription from MojoSells.com
Circle Prospecting leads are the coldest of leads. They have not raised their hand to list their property for sale and nor do they always even own a house. The list is known as a neighborhood search. You claim an area to call to see if they have thought about selling. You should be ready to switch from seller to buyer quickly on the phone in case you come across a renter as a buying opportunity.
With a circle prospecting list, you can call to see if they are looking to sell, to see if they are interested in getting a cash offer, to see if they are interested in getting updates on their house's value, to invite them to an open house, letting them know what just sold or just got listed, and be as creative as you desire.
You can buy daily access to neighborhood search Seller Leads on a monthly subscription from MojoSells.com
Door Knocking for seller leads is an awesome opportunity for agents who are willing to be consistent. We use KnockWise to help us stay consistent and keep notes from our door knocking. Mixing door knocking and circle prospecting can help you get to know your community and for your community to get to know you.
When it comes to door knocking you need to know how many it is important that your list is not too small and not bigger than you can manage with a monthly visit. You will need to have it so that you can visit every door once a month. Then you will need to have large enough to generate enough seller leads to have the lifestyle you desire.
When door knocking bring your branded material with strong value on it and with a large value proposition to either visit your website or call you.
There are several different reasons for sending out postcards. They usually get tied into getting real estate seller leads from either past clients, sphere of influence, and from geographically targetting an area. We use these three sources for our postcards AmCards, BoomerangDM, and Prospect plus for sending our cards to our past clients and sphere of influence. Then for our farm areas, we use every door direct mail also known as EDDM. EDDM is used for bulk mailout to a certain area. Consistently mailing these postcards out with a strong call to action will help you generate seller real estate leads. Remember to have your landing page and your phone number on your postcards. Yet, make it clear to what you desire them to do.
Geographically Targeting ( Farming )
Geographical Farming uses almost all of the tools that we are mentioning here for real estate seller leads, but strictly an isolated area. You could do this for an entire city, a zip code, a subdivision. You want to make your brand very clear to the consumers' minds that you are the local expert in the area for their real estate needs. You will want a website for your landing page that is branded to either yourself or to your farm area. With all marketing, you will want to have 48 points of contact with your seller leads. This can be from a phone call, postcards, magazine, social media, organic and paid google, email, SMS, etc. This sounds like a lot but is just four ways per month. This usually takes about 18 months to see the results.
Local real estate magazines have typically done most of the work for you for building trust as a platform, which brings in consistent eyeballs to their media source. The magazine is typically a general magazine with the latest monthly news in the city and local companies that are advertising.
Youtube Real Estate Channel
For every real estate listing, you take you will want to do a video of it. You will want to do every listing or buyer you put under contract, and every transaction you close. Plus you will want to do a monthly market update too for your farm area. Then you can take these videos and put them on all of your social media platforms and blog to help you with your lead generation.
Your videos do not have to be long and nor should they. This means you need to know clearly what you are going to say and do prior to doing your video. Then stick to your message. Remember you are trying to gain the attention of your viewer, so get their attention quickly and be respectful of their time.
A great tool to help you get your videos seen on youtube is tube buddy. Tube buddy will help you with the SEO side of your video content.
Open Houses are a great source for generating real estate leads for both buyers and seller leads. When it comes to lead generation at open houses it is important to set the tone correctly for your target audience. This means you need to come prepared with seller fliers, pamphlets, postcards, business cards, etc to help you with your lead generation.
You will want to do things to attract property owners to your website. You can do this by doing SEO and PPC with home valuation, home seller, fast offers, cash offers, home seller solutions, other important key phrases to point to your seller lead landing page.
Unless you are skilled in SEO and PPC we recommend you outsource this to a company to manage lead generation work required here. Google will give you a medium quality leads. Your best seller lead source typically will be your sphere of influence and past clients. Until they are big enough you will want to leverage google for your seller leads.
Social Media is an amazing real estate lead resource for branding yourself. Social media is like throwing a fishing net out into the water. Where Google is more like using your exact bate that you need to attract what you want. Social media for the most part offers lower quality and lower cost leads. A very popular one is making Facebook ads. You will first want to make a Facebook business page. While you are business making a Facebook business page you should make Instagram, Twitter, and youtube pages.
Once you have your social media business pages made you can start making your value-adding content for those pages. Then you can build out a lot of content at once, and schedule their posts to automatically go out when and where you want them to with hootsuite.com.
Besides building content and having it auto-post you will want to do some paid advertising. Facebook is pretty tricky on how narrow you can focus on a certain market. Realtors get put into a special category to protect Facebook and the agents from violating fair housing laws.
Remember you are trying to generate leads for starters, but if you are like me you want to focus heavily on the seller lead side. This does not mean you do not advertise your own listings to attract buyers. When you are running those cross ads you are also showing you are a listing agent to the public. Your home seller lead generation platform should also include home valuations and several other options like the Dorrmat platform offers.
Social media retargeting takes the affordability of social media and the niched audience of google. You have typically two audience types. One of them is uploading a list of emails and cell phone numbers to show your ads to. This list can be your sphere of influence, past clients, and your entire CRM if you want. It can even be the FSBO, Canceled, and Expired lists mentioned above. Then on your website, you can have several different landing pages to address the niche of each list you upload to social media.
The other one would be based on an action on your site. An action can be as simple as visiting a page on your site in the last six months, and requested something on your site or almost requested something. A great way of thinking of almost requesting is adding an item to a shopping cart on a site and then leaving the website.
Your past clients are a great source for real estate leads. They are actually a favorite source of leads because they have experienced the service you offer already. They know what to expect from you, so they will refer people to you and also reuse you.
Once a year you should be offering your past clients a free home value update based on anything new they have done. We put all of our past clients into homebot.ai and we update the numbers regularly trying to help it auto adjust the numbers correctly. However, once a year we do dive into an update. We also offer them multiple cash offers to just see what they could get some of them. Besides, all of this monthly we touching them with retargeting ads, postcards, calls, SMS, emails, etc. In Short, we are re-advertising to them constantly and updating them on our latest new offerings
Sphere of Influence
Sphere of influence are the people who you truly know. They can be your family, friends, and co-workers to start off with. They are the people who like you and you like them. They also trust you already, and all they need to is found out that you a realtor and they are ready to either use you or refer you out. This is one of my favorite leads to work with because they already trust you. They might not have experienced you as a past client has, but they properly have known you much longer.
The challenge I see realtors having with their sphere of influence is that they expect them to just use them. Where they should assume they have to still compete for them, because everybody has multiple hubs of relationships in their lives, and there are great odds they have another realtor that they trust just as much as they do them that has been in business longer.
This is where all of the tools and techniques shared here come into place. You should send out scheduled postcards, have a website and phone number associated with your business, upload them to social media, call, text, email them, invite them to events like the Phoenix Suns, and include them on pie days. Everything above should be used with them to make sure you are the #1 person that they think about when it comes to their housing needs.
Home Value Websites
Everybody would like to be updated on how much their house is worth. It does not mean they wish to list for sale right now. This means you either have a property valuation website or have it as one of your landing pages on your website. Dorrmat offers it as just one of the landing pages and offers many other homeowner solutions on the website. Home value conversations are perhaps the easiest conversations to have.
When it comes to networking I first think of vendors. Then I always think locally too. You can add your vendors to your website, and do a lot of work on their page to help them with on-page SEO work, so people find them online, and on your website. Include your network in your videos, advertising, etc. I would even upload them to a vendor list on social media, so I can retarget them. I wish for them to see every chance I get I refer to them, and I expect the same back from them.
You should have a high quality of standard to what you will do for and include in for your network. Even if you do not see them referring back they should still be getting a really high standard relationship from you.
Then the ones who are referring you real estate opportunities then you should have a VIP experience for them. This means more events, more gifts, more bonding, etc.
Taking Help From Online Real Estate Website And Portals: Online Real Estate Website And Portals
Dorrmat makes it easier for real estate agents to get motivated seller leads. Agents on the James Sanson Team at Keller Williams Realty Phoniex get a landing page to attract homeowner seller leads. Agents looking to join the team just have to join the real estate team and then set up their real estate seller lead generation landing page to start attracting motivated owners. This online portal makes use of the technology and real estate expertise to help you get the right seller leads and close the deal within a stipulated time.
2. Once You Get All The Seller Leads - Develop It:
Developing the list of motivated owners is completely based on the data you collect from different sources. When you have this list, you should meet up with these property owners and get to see how eager they are to list the property. Some of those who you meet are not willing to list their property, strike them out. Just focus on the once you are ready to make the sale. Here your negotiation skills would help you the most.
3. So By Now You Can Filter Your leads
Once you meet the landlords and property owners, you now know who to include on your list and how to filter out motivated seller leads that will (hopefully) list their property in the near future with you.
4. Workout Your Marketing Strategy:
Your marketing strategy must be customized in a way that the sellers find it relevant. Make use of email campaigns to send out personalized messages regarding the sale of the property. With your efficient and effective marketing strategies, you would be able to increase your chances of converting them into your customers.
5. Closing The Deal:
Now, you have meticulously followed all the steps - searched for motivated owners, filtered the most important sellers, employed marketing strategies. At this stage, you would be having a handful of sellers who are willing to list the property with you. Now, is the right time to make the sale and close the deal with proper documentation and paperwork.
So now you know about the effective steps that are used in finding the motivated sellers leads and converting them into potential customers. So starts employing these steps to get the desired result.