By Nathaniel Rhine
A key to becoming a successful realtor is to find the correct property owners who are motivated to sell. Here are a few ways to identify them:
Look in the Newspapers
Many motivated property sellers put advertisements in the local newspapers to try to sell their property on their own. “For Sale by Owners: has become a very popular method of selling property. Many people do not want to pay a real estate commission to a broker or agent. Instead, they want top dollar for their property. However, the vast majority of the time, these sellers are not as flexible as people who work with a realtor. However, as time passes, if they can not sell their property or if they really want to sell the property, they will lower their price.
Check Online
Many owners nowadays create their own web sites or web pages to sell their property on their own, without a realtor. One may find them simply by doing an online search for “properties for sale by owner in ______” (the area you are looking for). One may never know that the owner of such properties may in the end want and/or need the service of a realtor to service them. This is the opportunity one must take if success is what they want.
Call Property Managers
Many sellers may contact a property manager. Property managers may be a great resource because they often know “landlords” (I hate that word), who are feed up, who are sick and tired of renting properties, and who just want out because they don’t want to be “landlords” anymore. Again, this is the opportunity one must take if success is what they want.
Look for Vacant Properties
This is perhaps a fun way, but very taxing, looking for vacant properties. It requires one to determine which area of the city or area that one may be interested in and find available properties within that area. One will have to drive around and search that area. Basically, one will became a property detective, keeping and eye out for clues, properties. One would look for “For Sale” signs, banners, physically empty houses, shops, factories etc. As one is driving around looking for properties, take note of the area, the traffic conditions, the time of day you visited that area, the surrounding area, are there schools, shops, hospitals, colleges, places of worship etc. It is a great way of studying and knowing the area so that when a buyer/seller want a property in the particular area, you would be in a better position to service your client.
Networking
Like with any business, networking is key to one’s success. As a realtor/real estate agent, one must be equipped with plenty business cards. With those business cards, give them to everyone you may come in contact with. Just do not simple give them away, but explain very briefly what it is that you do and how you may be of service to them or someone whom they may know. Keep in touch with your real estate agency and those who work with that real estate agency. Some of your co-realtors/agents may have properties that you may need and visa versa. There’s an opportunity to share your resources and profit mutually.
In conclusion, there are limitless ways of finding property owners who are motivated to sell. They may not call be so obvious, therefore, we have to take the initiative to find them. It requires some imagination and smart work, not necessarily hard work, to find them. I wish you all the best.
By Nathaniel Rhine
