How do you find motivated sellers for off-market deals?

I agree 100%. If one doesn’t know what one hopes to find, how does one go about finding it? To the degree, one can narrow their focus and really drill down on what type investment one is looking for exactly, precisely, and specifically, the chances of locating the right property increase. Let me make an example….. If one is looking to buy a vehicle but doesn’t know if they want a sedan, an SUV, or a truck, how would one determine what the right vehicle is? Those who aim at nothing, hit it 100% of the time. ??

You make it sound more straightforward than it looks, and your blog needs to be more specific. re-specifics nd vacant property may be in litigation and cannot be sold at the present moment. Where do you start? Do you send letters to real estate attorneys or banks with hopes of them writing back to you and telling you they have a property they wish to sell? Or do you drive around every week in your area to scout for properties? Better yet how about, multiplying your efforts by hiring bird dogs to drive around and find these properties?

This 'target market' question is a good one, yet examples given are all related to property type. Another approach is to concentrate on people. For example, focus on those clients with whom you identify and keenly understand. One example would be affinity groups, such as those involved with a common charity, association, youth sports team or faith-based group.

In many markets across the US, housing is very strong with impressive numbers of showings and multiple offers bidding up the price. While buyers love off-market deals, an agent often hurts a seller financially by not exposing the property to a large pool of buyers and not maximizing the sellers’ bottom line. I would urge all sellers to learn if your local market is strong, and if so do not listen to agents who put the financial interest of the buyer above yours.

There is nothing better than fostering industry relationships even if they are your competitor. Real Estate Brokers need to work together especially when securing "off-the-market" deal transactions. Building those connections within your own firm or others will give you access to more information, property inventory, etc. which empowers you to be able to offer more to your clients. You never know if you might have the right match, at the right time, for the right client. Also, staying in contact with your client-base to know their needs allows you to move with intent and stay aware of incoming inventory untimely making you a great property matchmaker. Its the best feeling and a literally real estate deal WIN-WIN-WIN!

Yes, commerical real estate far more than residential real estate is a networking business. The more connections one has in a market, the more people who know for example you want to buy let’s say 50 to 100 units is a particular market, your chances of landing that right deal increase. Spread the word.

Keeping relationships in good standing with every professional you have the opportunity to work with in our industry is hugely impactful when it comes to off market opportunities. If you leave a good impression on another realtor, they likely will keep you on their dial list with upcoming and unexposed listings. This can be incredibly useful in working off market deals for your clients.

When it comes to finding off-market deals, who you know is often more important than what you know. Building a strong network of industry professionals can provide you with valuable connections, insights, and opportunities that you might not have access to otherwise. To build a robust network, it's important to lead with value. Offer your expertise, resources, or services to your network, and they will be more likely to reciprocate when they have a lead or a deal to share. This can include sharing market data, providing referrals, or partnering on a project. By prioritizing relationships, providing value, you can establish yourself as a go-to resource in your market and unlock a wealth of new opportunities.

In my experience when it comes to building networks or relationships in general, the best motto is: give, give, and then give some more without expecting anything in return. Be a connector, your landscaping guy needs a mechanic, your mechanic is looking for a plumber, your buyer wants to remodel the house and is looking for a contractor -etc., etc. Pretty soon, they all will talk about you and trust is established in a very organic fashion.

One thing I've found helpful is to network within specific neighborhoods that have regular property turn over. Facebook groups formed around these communities are helpful since many people announce their FSBO intentions to fellow neighbors first. If you can't get into these private groups, it's helpful to keep a close relationship with neighbors who do have access.

You have to direct market with a current and pressing call to action. Two years ago the message was, "sell your home for top dollar in the fastest time." Today, the market has stalled and any message sent should speak into just that. With people on the sidelines, waiting things out, its best bring value to people that builds relationships. For us, our firm provides a property tax appeal service in which we provide tremendous value at the same time cultivate relationships. The agent that brings value and contribution will find the listing and gain relationships for the future.

It's important to focus on the value proposition for potential sellers. Most off-market deals arise from motivated sellers who are looking for a quick and easy transaction. By making it simple for these individuals to submit their information, and providing a clear cash offer upfront, investors can eliminate many of the barriers that prevent people from pursuing off-market deals. To accomplish this, one approach is to build a website that allows sellers to submit basic information about their property, including its location, condition, and asking price. From there, investors can quickly evaluate the property and make a cash offer, bypassing the need for lengthy phone conversations. Present this type of streamlined, user-friendly process.

One way to get off market properties is to highlight what homes (location, price, size) your buyer are looking for to your current sphere to get their help being a matchmaker with a house. It’s always surprising how many people have a neighbor or friend thinking of selling that is worth talking to. Same on listing side. Powerful to have your sphere involved.

When using direct marketing, don't do what others are doing. Been there, done that - these Sellers aren't as S_ as people think and you need to offer them a decent deal based on their situation. Persistence without annoyance is key - you don't want to be That Salesman but be intuitive, understanding and caring of their needs as well when they do contact you.

I am an investor as well as an active Realtor. I get the “I’ll buy your home for CASH!” solicitations every day by text, by email, by snail mail, by phone call. The solicitations are garbage because every last one of them wants to buy from me below market. I don’t listen to this stuff and as a seller neither should you. Find a great local Realtor and get maximum dollars in your pocket.

Being flexible in the deal is critical to success when finding off-market deals. You should also be ready to waive normal contingencies that come with purchasing a house, such as inspections or appraisals. This can be a powerful incentive for motivated sellers who want to avoid lengthy negotiations and paperwork. However, it's important to balance this flexibility with a clear understanding of the risks involved. Waiving contingencies can be risky, particularly if you are not familiar with the property or the local real estate market. By staying focused on the needs of motivated sellers, investors can unlock a world of profitable opportunities.

Here’s another great way to find off market deals. Make friends with a few USPS Letter carriers. Make it worth their while to share hot info with you. The know a lot about the homes and owners in the neighborhoods they work in.

To be successful in finding off-market deals, you need to be persistent and consistent. It's not enough to try a few tactics and hope for the best. Instead, you need to be willing to "FARM" off-market deals, which means consistently pursuing leads and nurturing relationships over time. This requires picking a few approaches and sticking to them, even when you don't see immediate results. It takes time and effort to build relationships with potential sellers and earn their trust. That seller may not be ready the first time they get your flyer, but with persistence and consistency, you can stay on their radar and be there when they are ready. In the end, the key to success in finding off-market deals is to be persistent and consistent.

As a licensed real estate agent 18 years, I know I'm not alone when I say I am inundated with solicitation calls all day long for off market properties. It's cold calls, automatic, drip, marketing, and text messages. Most people that want to get top dollar for their houses are posting it on the MLS for the world to see to get highest dollar. This is 2023 and everyone has Internet access.