Building Wealth One House At A Time
about 28 days ago.
Updated 6 months ago.
On this podcast episode I talk about motivated sellers and how sellers become motivated to sell.
The key thing to understand is that NOT all sellers are motivated. In fact, most sellers are not motivated at all. My mentor Ben told me: "Buy houses from people that HAVE to sell, not from people that WANT to sell".
A motivated seller needs to sell their property and they need to sell now. They HAVE TO SELL and do not have the luxury of time on their side.
Sellers may be motivated to sell because of property damage, financial hardship, or life circumstances. Damage to their property, divorce, a death or disability, foreclosure, job loss, relocation and many other reasons could cause a seller to be in a financial situation where they suddenly find themselves needing to sell their house fast.
When they are in this situation if you are marketing to them via direct mail, cold call, Facebook Ads, Google, Text marketing etc. then you have a better chance of buying their house at a discount than from a seller that is not motivated to sell. The key is finding these motivated sellers.
To qualify a seller as motivated they need to meet two main criteria:
1. They have to sell their house fast
2. They have to sell their house for cash
If your seller does not need to sell quickly or does not need to sell for cash then they are not really motivated enough to sell at a discount. Many sellers want market value for their house and we refer those to a realtor. But when a property is damaged, or the seller is motivated to sell fast for cash (at a discount) then we have an opportunity to buy those houses. That is why it is so important to market to these types of sellers.
On the next podcast episode I will cover types of motivated seller lists and how to find and purchase motivated seller lists.
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