Deal-finding is the first step in winning real estate deals. As a real estate investor, you need to start with a great list of leads to close and win more contracts. The Multiple Listing Service is a database compiled and developed by participating in real estate professionals. It is the most common source of leads for real estate investors, and it allows you to find deals even if you are at home. However, using MLS is a tough competition because the lists’ details are also available to other real estate investors. As such, here are some quick guides on how you can dominate the MLS and win great deals:
1 – Find an investor-friendly agent and team
An investor-friendly agent and a team will best complement your MLS searches. You will meet different agents offering their services to you. To help you decide whom you must contract with, here are the characteristics of an investor-friendly agent and a good team:
An investor-friendly agent is someone who:
- Understands investments
- Knows how to help investors find and win deals
- Is an expert in valuations
- Is an expert in transactions
On the other hand, a good business team comprises great professionals, mainly the agent, an investor-friendly title company expert, a contractor, and a lender. When you have an investor-friendly agent and a team, you can maximize and dominate your MLS deal to level up your operations and processes.
2 – Find deals
The best real estate contracts start with finding potential deals. As a real estate investor, some tips and strategies on how you can discover more deals and expand your searches include setting up hot sheets, preparing a notification of address, creating new listings, and knowing the latest real estate market updates. You may join us and Learn through our training and webinar discussions about real estate trends for free here.
These conventional tips can help you leverage your deal finding strategy. However, the drawbacks are you need to set up many triggers, and the process requires maintenance. Furthermore, running a comparative market analysis is also time-consuming. Doing CMA alone in each address may require 15 to 60 minutes of your time.
The solution: Automate the Process
Automation technology enables real estate investors to accomplish business duties more efficiently. In Real Estate IQ, we have tools to help you get instant comps and analyze investment properties with confidence! You may search using your parameters and see the pictures, location, agent comments, and relevant information for properties recently sold using our Fast CMA.
3 – Make offers
The final step in dominating the MLS and winning great deals is to make the right offer. One of your top considerations in setting the offer is your real estate strategy. If you are engaged in flipping houses, you must observe the 70% rule. If you are doing a buy and hold strategy, you must tote the 1% rule. You may check our blog “How to make the best real estate offers” here.
You may visit our Community portal and get the opportunity to network with other real estate professionals. As you engage yourself with an investor-friendly agent, have an incredible business team, leverage automation technology, and set the best offers, you can definitely dominate the MLS and win great deals!
Credits: Becky Kromminga is Real Estate IQ’s Director of Growth for Houston Operations. Becky loves to apply her skills as a former Math Teacher and Educational Researcher to Real Estate Investing. She has notable experiences with different real estate investing strategies such as buy and hold, wholesaling, flipping and subject-to properties. She is a graduate of MA Mathematics and is actively involved in the administration processes of Real Estate IQ.
Disclaimer: The blog articles are intended for educational and informational purposes only. Nothing in the content is intended as legal or financial advice.