Working in real estate means, among other things, that you need to analyze a lot of information. And you should be fast: every minute you take is a property you may lose. That’s why it’s essential to put all technology available to work for you. And today, that technology is Real Estate IQ’s Off Market Leads (OML) tool, which will deliver a daily mail with lists of motivated sellers to land the best possible deals.
Off Market Leads vs. MLS: pros and cons
Let’s start at the beginning: why is it important to access Off Market Leads? Well, as you surely know, there are two main lists to check if you want to find properties. One is the MLS (multiple listings service), the data source for all homes for sale. The other is the OML, and it consists of a list of houses and places that don’t yet appear on the first one. In this case, the information is completed through courthouses.
Since every realtor in every area uses MLS, gaining access to the OML is an advantage. Because the data is only published there, you’ll find less competition and deeper discounts. Also, you’ll be able to negotiate directly with the seller. Remember our premise: the fastest you get to them every month, the better off chance you will get a property.
Of course, Off Market Leads are not all roses: the property owner might not be entirely decided to sell, and you’ll need more advanced skills, for instance, to do all the paperwork involved in an acquisition. Another possibility is that off market sellers might be unrealistic about what the property is worth, so you’ll have to handle it properly to succeed.
What information does the Off Market Leads contain?
You can search for OML by putting on signs, looking for garage sales or empty houses, or searching online at FSBO or Craig’s List. But you can subscribe to an OML, too. In this case, you’ll receive lists of motivated sellers straight to your inbox. For example, our tool gets you, from Monday to Friday, updated information on:
- Probate & Heirship
- Loan Modifications
- Tax Sales
- Appointment of Substitute Trustee
- Mechanics Liens
- Hospital Liens
- HOA Liens
- Delinquent Taxes
- Code Violations
After the documents are filed on courthouses, it takes just one or two days to hit our lists, so you’ll always get up-to-date information. And the best part is that our experts are the ones who do the research, clean, and aggregate the data with a scientific approach. On top of this, we add key analytics for you to make better decisions. For instance, you can find the property’s assessed value, an estimate of the owner’s equity, and the equity percentage.
Once you have the property information, how do you get in touch with the owners?
There are several ways to contact distressed sellers: you can call them, send postcards or even go to their doorstep and knock on their door. The thing is, some of these approaches take a lot of time, and others require some insight. And that’s what skip tracing is for!
You can do your own skip tracing by looking up numbers and addresses on the whitepages or 411, both free options. Or you can receive it along with our Off Market Leads by subscribing to the premium version. When you do it, we’ll send you:
- Up to 5 cell phone numbers
- Up to 5 landline numbers
- Up to 5 email addresses
- The contact information of a close relative
- Flags for bankruptcy and deceased
With approximately 70% of data accuracy, you won’t have to waste your time searching for this information anymore. With Premium Off Market Leads, get valuable insights to act right away and not lose any deals!
Disclaimer: The blog articles are intended for educational and informational purposes only. Nothing in the content is designed to be legal or financial advice.