Purchasing real estate is one of the most tried-and-true investment strategies in the world. As a palpable and appreciating asset, property offers more control and profit than numerous other forms of investing. Moreover, there are several effective tactics that can help maximize your income potential. One such tactic is investing in off-market real estate deals. Simply put, these are deals in which a seller chooses to keep his or her listing off typical advertising channels such as MLS. In many cases, it’s a distressed property conducive to a “fix and flip” and an excellent return in a short period of time. So, what’s the easiest way for you to find a lucrative off-market listing? The answer may lie in exploring the then and now of off-market lead generation.
The PastIt goes without saying that real estate professionals didn’t always have technology at their disposal. For a long time, successful off-market real estate campaigns came down to hitting the road and developing a reputation.
Traditional AdvertisingBefore the days of internet and cell phones, the challenge was to find ways to reach a large number of potential sellers. There were various methods that investors utilized:
- Buying TV, radio, and newspaper ad space
- Hanging signs in strategic areas
- Attaching flyers to cars in parking lots
- Leaving notes on the doors of suspected distressed properties
NetworkingAnother strategy included having as many face-to-face interactions as possible. After all, given the speed at which information was transmitted in the “old days”, it took a significant amount of effort to build robust relationships with the key players in off-market real estate. This meant reaching out to professionals such as builders, estate attorneys, and wholesalers. Additionally, trying to locate homeowners selling a distressed property sometimes required going door to door and sparking conversations.
The PresentEnter the world of Property Genius.
Big DataPretty much everything everyone wants to know is available at the click of a mouse or the tap of a mobile device. These days, there are seemingly endless streams of viable data coming from multiple sources. Big data technology allows for the collection and organization of vast amounts of complicated information. The compiled and analyzed data is then disseminated via search-friendly applications. There’s no doubt about it — technology has transformed the real estate industry. Ultimately, the strides made with CRM software platforms with respect to the integration of big data have had the same effects on off-market real estate as they have on other industries. It’s greatly improved the collection and accuracy of information. Certainly, this is not to say that the offline methods are dead. Rather, today’s tools have greatly reduced the tedium and hassle of traditional marketing methods, streamlining them to the point that we don’t think of them as traditional any longer. Property Genius is an end-to-end research platform specifically developed for real estate professionals. Not only do we collect and systematize massive amounts of assessor, foreclosure, and off-market data, but also we provide the functionality to manage entire marketing campaigns. Property Genius makes it incredibly easy to pinpoint and engage with qualified leads. Through our intuitive search tool and state-of-the-art CRM, users are able to effectively track properties, connect with sellers, and close deals. Property Genius is revolutionizing the way agents and investors interact with wholesale and off-market leads. With a streamlined process, we’re giving real estate professionals the power to have more control over campaigns, saving them time, energy, and money. The end result — increased productivity and profits! Is Property Genius exactly what you’ve been looking for? Find out how we can become your trusted partner in off-market real estate!
Finding Off Market Real Estate Leads: Then & Now
Tips for Choosing the Right Distressed Property Investment