As I’ve mentioned before, obtaining clients in very competitive markets can boil down to prospecting sources that other agents aren’t. I’ve had tons of success when it came to prospecting absentee owners, but I wouldn’t stop just there. Here are some of the weirder sources of business that you can use when prospecting for business:
- High Equity
When someone is high equity it means that either they paid for a piece of real-estate in cash or have owned a piece of property for a long time. High-equity owners are motivated because there is a chance for a huge cash-out at the end of a sale.
How do you find high equity owners? Unfortunately, Realist does not have a way to search for high equity specifically. You must go thru the tax record individually and mail or call people.
2. Absentee Owners
Absentee owners are my personal favorite and where the vast majority of my business comes from. Here is an entire video on how-to absentee owner prospect.
3. Old Expireds
Most prospecting method involve either FSBO or newly expired listings. In my opinion, “dusty” expired’s are the best because %90 of agents don’t know how to prospect them and the competition is not as fierce.
Once again, you can find old expired’s in the MLS and in Realist.
4. Cancelled Listings
People will cancel listings for many reasons:
- They don’t like their realtor
- Decided not to get a divorce after-all (very common….)
- Feel like they weren’t going to get enough for the house
- Maybe they just in general got cold feet
Cancelled listing can be a good source of business and can be found in the MLS!
5. Calling rent signs
Believe it or not, many people don’t enjoy owning real-estate as an investment. Many times when people put real-estate up for rent, the house is clean and in showing condition. Many accidental landlords would love to sell a piece of real-estate, but they don’t know how or even how much the property is worth.
Calling accidental landlords can be a great way to get a listing and help out people who have inherited unwanted rental property.
6. Duplexes & Quadplexes
This may be a little market specific, BUT duplexes and triplexes in my area are hot right now. If a duplex or triplex goes on the market, it well sell well above asking price. This is music to an investors ears. If they’ve been thinking about putting the house on the market, there’s a good chance they will consider it.