Quote from @Nathan Gesner:
Quote from @Harrison Pruett:
Everything on the MLS is also listed on realtor.com, updated every 15 minutes. Access to the MLS doesn't really give you any advantage.
Everyone is struggling to find deals. Prices increased dramatically and sellers know it. A lot of money is floating around because people cashed out equity to invest, or they had extra income thanks to COVID.
The only "trick" I can share is that you need to be patient. Keep working at it, knowing it will be hard for a while. When the market swings the opposite direction, you'll be ahead of the game.
Everyone trying to target motivated sellers is struggling. That could be true.
But saying everyone is struggling to find deals? That’s absolutely not correct.
Here’s the thing: you cannot target motivation. The reason most people are struggling is that they don’t truly understand lead generation. Those who do understand it aren’t struggling.
Here’s the common flaw: people think a circumstance equals motivation.
- Foreclosure = motivated
- Tax lien = motivated
- Absentee owner = motivated
That’s just not true.
Motivation is an emotional response to a circumstance, not the circumstance itself.
Let me give you an example. Most people assume that tall grass, boarded-up windows, absentee ownership, foreclosure, or tax liens mean a person is motivated, right?
Well, here’s the truth:
A motivated seller isn’t someone who wants to, needs to, or even has to sell their house. A motivated seller is anyone willing to sell their house below market value.
Take 100 people in foreclosure, randomly. Ask them if they want to sell their house or keep it.
100 out of 100 will tell you they want to keep their house.
The same goes for absentee owners, probate, tax liens, etc. These are all people who, if given a choice, would rather keep their house than sell it.
So, what’s happening? You’re chasing the wrong people.
You can’t just use a checklist like “tall grass” and assume that means someone is motivated.
The sensible solution to foreclosure is indeed to sell, but the emotional response for someone in foreclosure is to find a way to keep their house, not sell it.
And what are all the "experts" teaching? They’re telling you to go after foreclosures, tax liens, and to use Propstream to find deals, right? They’re telling you to chase audiences that explicitly do not want to sell their houses.
So, no wonder “everyone” is struggling to get deals. And by “everyone,” I mean all the people listening to these podcasts and gurus who are spouting unfounded nonsense that makes no sense.
The moment you realize that you cannot target motivated sellers (because no one knows when someone becomes motivated), you’ll understand that the only way to find them is to let them find you.
Know where they’ll be looking when they become motivated—and be there. That’s how you’ll get all the deals.
It really is that simple.
