How to Connect With Off-Market Real Estate Property Owners

Do you ever feel that the hardest part of a real estate deal involves connecting with the property owner? The following tips will make that part of your job much easier. Then, you can spend less time and money on leads that don’t convert.

Have Accurate Contact Information, Even for Off Market Real Estate

Although it’s difficult to determine how many pieces of mail USPS loses each year, most experts estimate that about 3% of items get lost. Undoubtedly, some of that mail gets “lost” because it uses inaccurate contact information. If you match an incorrect name with an address, USPS might flag the item and redirect it to lost mail. Alternatively, the mail system might deliver the item, at which point the current resident will probably recycle it.

Using accurate contact information improves your chances of reaching the correct people. It also helps ensure that your contacts open your letters, mailers, and other items.

You can spend a lot of time requesting property ownership information from state and county agencies. Unfortunately, you can run into numerous problems. These agencies often take a long time to respond. You might not even get the most updated information. Some of the contact information you get will list a corporation as the owner.

ProspectNow’s database has updated, accurate contact information for residential and commercial property owners. When you have the correct contact information of property owners in your area, you automatically increase your chances of connecting with those people.

ProspectNow can even help you identify off-market real estate leads. That way, you can reach out to people before they list their properties for sale.

You may have heard that the National Association of Realtors (NAR) has started cracking down on off-market real estate sales that create unfair opportunities. NAR, however, is more concerned about secretive deals. ProspectNow doesn’t take that approach. Instead, it simply helps you identify properties that are likely to go on sale within the next several months.

Personalize Your Outreach Messages to Get More Responses

Whether you try to contact property owners by phone or through the mail, you might find that you get better responses when you personalize your messages. Instead of asking for the “head of the household” or addressing a letter to “current resident,” you can communicate directly to the property owner.

Try different ways of phrasing messages. You might discover that a specific demographic in your area responds better to data-based messages about changing real estate values while another group responds to fun graphics and straightforward language.

You can perform A/B testing by keeping track of the messages you use and who you send different versions to.

Use Local Real Estate Trends to Improve Your Calls to Action

Monitor your local real estate trends so you can include them in your outreach campaigns and increase connections. For example, if you notice an increase in foreclosures, you might want to write a call to action that says something like, “Many of our clients have bought wonderful foreclosure properties at extremely low prices. Contact our office so we can help you explore your options. You could get a great deal right now!”

Know the Property’s Features and Value Before You Try to Connect

When you reach out to potential clients, you should already know about their properties’ features and values. The more you know about a property, the more easily it becomes to convince someone to sell. For instance, you might notice that they have a four-bedroom home in an area that typically has smaller homes. You could use this information to tell the owner that they could likely get a high price because they have such a desirable home.

Knowing the value of a property also helps you manage client expectations. Even in a hot market where buyers bid against each other and spend much more than the asking price, you need to prepare the seller for financial realities. Entering the market while it’s hot does not ensure that a lucrative bidding war will happen. It does, however, probably mean that they can sell their home quicker than normal as long as they don’t set their asking price too high.

ProspectNow’s database includes detailed information about the properties in your area. You can see lot size, the number of bedrooms and bathrooms, and other features. The database also has a value estimate that makes it easier for you to find a price that will sell the home quickly while making the current owners feel like they made a lot of money.

Use Predictive Analytics to Time Your Outreach Better

Predictive analytics has become one of the most effective ways to ensure that you connect with property owners at the right time. ProspectNow uses artificial intelligence and machine learning to identify properties that will probably go on the market within the next 12 months.

Predictive analytics looks at a lot of data and public records to find likely opportunities. Houses often get put on the market within a few months of homeowners entering pre-foreclosure, growing their families, getting married, and separating from their spouses.

ProspectNow does more than predict. It continuously learns about selling and buying habits to keep up with emerging trends. Now, you have a more effective way of finding off-market real estate opportunities before your competitors do.

Find Off-Market Real Estate Opportunities With ProspectNow

Data analytics has become a critical driver of business success in all industries, including real estate. ProspectNow puts the power of reliable data in your hands by predicting behaviors, giving you accurate information, and managing your interactions with clients.

Get a free trial of ProspectNow so you can experience the benefits of a growing database that works in coordination with AI. Ready to find more leads, close more deals, and make more money?