The real estate market is an intricate and diverse arena. It can be quite confusing to find a great investment property; especially for inexperienced buyers and sellers, given the different ways properties are made available in the market. And if that isn’t enough, with so many investment properties to choose from, investors may find it difficult to sift through the clutter.
Properties can be priced too high, or they can be lost among the thousands of other adverts. The information regarding the properties can also be hard to find. These are some of the most common problems that delay, if not totally hinder, a real estate transaction.
To counter these challenges, allow me to share with you 3 methods that you can use to efficiently weave your way through all the real estate properties available in the market and find the perfect investment property. Remember that each has its own defined niche, and matching it to the needs of the buyer and seller is the important thing.
52 Properties gives investors a wide range of access to different investment properties. Although they only send out one deal each week, they have access to over 25,000 properties in 43 different states.
Each state has a team assigned to it, thus getting information on the properties won’t be a problem.
This category can be subdivided into two. First, we explore off market or pocket listings. These are properties that are not actively advertised in formal platforms (online, periodicals, etc.). Some brokers leave out these properties so they can offer them to specific investors.
The other group belongs to other investors. These are individuals who look to sell their investment property directly to buyers.
Multiple Listing Services
Multiple Listing Services (MLS) are services that allow brokers to make offers for compensation, promote mutual cooperation among fellow brokers, and distribute accumulated information regarding property appraisals. MLS are also an ideal source for all vital information regarding a certain investment property.
Real estate brokers are the primary users of Multiple Listing Services. Some of the deals in the MLS expire and do not get sold, some even reaching three months without any successful transaction.
Thus, sellers become even more highly motivated to sell their property. Ultimately, their motivation influences their judgment, and they are now more than willing to accept aggressively priced offers. This would not have been possible if the properties posted in MLS did not expire.
As a final thought, we can say that there are three underlying factors in making a successful real estate transaction. All of methods that we discussed above are greatly influenced by these three factors:
- Cash – This allows the buyers and the sellers to instantly close the deal and settle payment.
- Networks – As in any aspect of business, real estate is also about “who you know.” Specifically, these are people who directly or indirectly help complete the transaction. Among these home repair personnel, property managers, real estate brokers, and the investors themselves.
- The right people – A competent team who has the technical knowledge and the motivation to help sell the property is needed. 52 Properties provides such a team.