When it comes to the Multiple Listing Service (MLS) and looking for deals it’s not always a matter of speed for when a house comes to the market. With a slow market, not enough buyers, to much inventory and prices being to high, a house will sometimes sit for days if not months on the MLS. Most investors will see these properties and not even give it a second glance and into the “trash” it goes, however others will see this as an opportunity and keep a watchful eye on it.
In today’s blog I will be talking to you about setting up the right systems in your MLS marketing strategy to insure that you get more accepted offers in your business.
In any successful business, there needs to be systems in place to insure your success. The MLS Keystone Matrix system (the real estate search program being used by real estate agents, buyers and sellers) has many features that if set up properly by your realtor can help you access deals with some time that could have potential to make money. Everyone knows that the longer a house sits on the market the more motivated a seller could be.
If you are positioned properly this could create a profitable opportunity for you. Knowing the average days on the market (ADOM) is going to help you determine which sellers might be motivated to accept your offer. Working with a trusted and knowledgeable realtor can help you close more deals.
Having the ability to set up specific searches geared towards houses that have been sitting on the market for a certain number of days. For example, 30+ days, is going to help you target these properties. I can’t begin to explain how this system has helped our business. Its one thing to analyze properties the moment they come to market however, when you are able to single out properties that have been sitting on the market for while in the area you invest can create a opportunity to get it at a lower price then initially put on the market for.
With some time and experience you will start to see a trend that when houses have been sitting for x number of days the prices will slowly start to drop. This could create an opportunity for you. Keeping track of these properties takes time and patience and systems. Most investors might miss these but don’t let that be you.
Having a realtor set you up on specific searches that target certain type of sellers for example like “Estate, Foreclosure, TLC,” etc. is also going to help you target for opportunities that others might not see when all properties come in on one email. I highly encourage you to set searches using these and other key words for sellers so that when a deal comes up you will be able to act quick. Most investors won’t take the time to learn how to use the MLS Matrix systems to its fullest capacity, however a professional real estate investor will take advantage of all systems available to them.
If your interested in learning how to make more money in real estate please fill out my free strategy session form here .
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