If you’re looking to buy an investment property and want a deal, you may be wondering how to find motivated sellers in real estate.  Focus on finding nice homes in nice areas over searching for a motivated seller. You want to offer potential tenants a home that they would want to own themselves. This will attract good tenants and help get you the monthly cash flow all investors should be looking for. However, it’s still important to be able to recognize a motivated seller when you see one.

A motivated seller is willing to negotiate. They often can’t move forward with their plans without selling their property. This makes them more willing to work with buyers to come to a deal that benefits both parties. This can go a long way to help boost cash flow, which is important when investing in real estate.

8 Clues How To Find Motivated Sellers In Real Estate
 

1. A motivated seller has a plan.

A motivated seller is on a mission. They know where they want to go, and they’re invested in getting there. When sellers say things like, “We don’t need to sell,” or “If it sells, it sells,” they’re likely firm on their price, aiming to get as much money as possible rather than just selling the house.

2. The house is priced to sell

That means the house is priced realistically, or even below fair market value. While this may be a good sign of a motivated seller, it doesn’t always work in your favour. This could lead to bidding wars, something you don’t want to be in.

Bidding wars are for people emotionally invested in a property. Don’t get emotionally attached to any property. This is an investment. You want to look for a property that can provide you with monthly cash flow. Work with a real estate agent to figure out how much you’ll need to get a house in order to keep that positive cash flow. This way you’ll know your walk-away price, and you won’t get swept away in a bidding war.

3. The house has been staged 

Sellers who have taken the time to clean and declutter their homes show a stronger commitment to making a sale. A motivated seller will stage the home to attract buyers, rather than simply following their personal taste.

Not cleaning or staging a home is a good indicator that the seller isn’t serious about getting their home sold.

4. If someone is willing to show their property at the drop of a hat 

Someone who requests 48 hours' notice, or other stipulations, making it difficult to show the house is less motivated. A motivated seller wants to make it as easy as possible for people to know their house is for sale and so they can view it.

5. The story of why they are selling


 

Did they get a job in a different city? Did the owner die or move into a retirement/nursing home? Are they separating/getting divorced? These are all reasons someone may want to sell quickly.

6. A vacant property 


 

The longer the house is sitting empty, the more money the seller is paying in monthly bills. It’s inconvenient owning a vacant home. Just because you don’t live there doesn’t mean the lawn stops needing cutting, or the driveway/sidewalk can go un-shovelled.

There is also a higher risk of vandalism with a vacant home. Selling the property gives a seller peace of mind and relieves them of a lot of responsibilities.

7. How long the property has been on the market


 

The seller may not have been motivated when they first listed, but if the property has sat on the market for a while, the homeowner’s attitude often changes, and they may now be ready to unload the property. If they’ve dropped the price that’s another indicator that reality is sinking in and they’re becoming more motivated to sell.

8. If the seller has owned the home for 10+ years 


 

There is a better chance a homeowner has paid off their home or has built up considerable equity in their home if they’ve owned the house for 10+ years. This means they may have more wiggle room when it comes to a closing price.

Real Estate Investing is a real business, and you must treat it as such.  From finding the right mortgage broker/lender, to making sure you have a good home inspector, to finally, working with a real estate agent who knows the ins and outs of investing in real estate, it’s important to treat it like a business.

 

If you are thinking about becoming a real estate investor yourself, or you are already an investor and would like to leverage your current investments into more properties, or you are looking to sell one or more of your investment properties, give me a call at 905-683-7800.  You can also email me at brian@briankondo.com.
 


I’ll be your personal guide and walk you through every step of the investment property buying and/or selling process.  

My team and I are here to help you with all your real estate investment needs.







 

Thanks For Reading Today’s BLOG!

If you would like to see any of my previous blog posts, please click here.

Brian Kondo
Sales Representative / Team Leader
The Brian Kondo Real Estate Team
Re/Max Hallmark First Group Realty Ltd.
905-683-7800 office
905-426-7484 direct
brian@briankondo.com
www.BrianKondo.com
www.BrianKondoTeam.com

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