As a real estate investor, it is vital to take advantage of skip tracing in your business.
Skip tracing allows you to reach beyond what the market has to offer by putting you in contact with potential sellers with great properties that would fit perfectly into your portfolio and help you generate profits.
Skip tracing involves actively going in search of these homeowners, establishing a business relationship, by convincing them about how selling to you would be to their best advantage.
Taking advantage of skip tracing would do wonders for your achievements.
The real estate market has a lot of trends, sometimes demand is low and there are a lot of properties than there are buyers.
Other times, it’s the other way around where the competition is high and demand for houses surpasses the properties available on the market. In recent times, the real estate market has been experiencing the latter, where investors have to compete for available homes on sale.
HOW TAKING ADVANTAGE OF SKIP TRACING CAN HELP
Skip tracing helps place you above the trends in the market by allowing you access homes that would make an extremely large profit. There are so many ways you can find homeowners with high motivation to sell their properties, some of which includes, good skip tracing service, public records, social media, goggle among many other tools that can come in handy when trying to locate someone that is seemingly hard to find or whose whereabouts you are trying to uncover.
Certain information about property owners can assist you in locating them, such as their names, home address, email address, office address, phone number, and even their social security number. Associative information such as the addresses of friends, ex-partners, colleagues from work, and relatives can also help. You can also find people using information like universities, high schools, and even colleges where they once attended and old workplaces can help.
What happens after skip tracing is as important as the process itself. You see, locating a homeowner is one thing while convincing them to sell to you is another. One important thing in landing a pitch is connecting to your seller. You can only do this if you get to understand their story and take that to your advantage. You need to convince them that you understand their story, can relate to it, and show them how selling their home to you can help solve that problem.
Different homeowners would have different reasons to sell their homes and your pitch should be hinged on their various motivations. As some owners:
- Are old and simply would prefer a smaller home that would afford them privacy and serenity
- Just got a new addition to the family and would need a larger property to accommodate for the new baby
- Are falling behind in their tax bills and mortgage payments and selling off their property would help offset their current bill and prevent more from accruing.
- Are being held in a long-term facility and have left their properties abandoned
- Have multiple properties and would want to sell some off
It is therefore important to know the particular needs of your homeowner to be able to convince and land a successful pitch.
Conclusion: Taking advantage of skip tracing as a real estate investor can do wonders to your portfolio and improve your business