Real Estate Leads
Generating real estate leads is an essential element for developing a profitable investment business. Investors should strive to develop a solid network of partners which includes mortgage brokers, realtors, property appraisers and inspectors, and other investors. This is often accomplished by participating in online networking groups or local real estate clubs.
The type of real estate leads required depends on the type of investment property desired. Some investors specialize in distressed properties such as foreclosure, bank owned, or real estate short sales. Others focus solely on buying and selling commercial real estate. Many investors seek out properties that can be offered with owner will carry financing, while others are scouting out cheap homes for sale to be offered as rental properties.
It can be helpful to network with real estate brokers that provide broker price opinion reports. BPOs are used by banks to assess values of foreclosure homes or those which are approved for short selling. Brokers can provide invaluable real estate leads on properties that are offered below market value and give investors the opportunity to submit purchase offers before others are aware of the pending sale.
A lesser known investing practice is that of buying probate real estate. This type of property is suspended in probate court until decedent estates are settled. Locating probate properties involves visiting local court houses to view public records of probated estates.
Networking with probate lawyers and court clerks can expedite the process of locating real estate that needs to be sold quickly. Probate homes can also be located by searching obituaries. Investors can network with local newspaper publishers to obtain real estate leads prior to publication.
It is a smart business practice to develop a business website. Not only can investors provide information about their business and list properties for sale or rent, they can also capture leads by offering a newsletter, informational real estate reports, or an eBook packed with helpful tips and resources.
Offering complimentary reports to website visitors is a good way to build a mailing list of people who want what is offered. This strategy also provides the opportunity to have reports shared with others. People often pass along helpful information to their friends, relatives, and co-workers which in turn make this type of real estate marketing one of the most cost-effective.
Networking with realtors can provide a variety of real estate leads. One of the more popular strategies is working with agents to locate expired listings. These properties have been under contract with a realtor, but have not sold. Once listings expire, sellers are no longer obligated to stay with the listing agent.
Investors that engage in expired listings marketing can work with agents or fly solo. Much depends on what they plan to do with expired listings properties. Some investors scout out these types of homes to purchase as investments, while others act as realty matchmaker and connect buyers with sellers to earn commissions from closing sales.
As an investor it is crucial to develop a business and marketing plan. Doing so provides a clear picture of what types of real estate leads are required to achieve short- and long-term goals.
We invite you to learn more about the different types of investment strategies, types of investment properties, and tips for developing investment plans in our real estate investing article library. We provide hundreds of informative articles to help both newbie and seasoned investors capitalize on the market and learn how to develop solid real estate leads.