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It would be wrong for an agent to disclose a client's motivations without permission from the client.
IF YOU were selling, would you want all buyers to know your wife tossed you for sowing more wild oats?
Or, that you were a bum who didn't pay your bills?
It is the agent's job to cash in that asset for the best price they can get without compromising their client with gossip.
It's our job to keep the things that can hurt a Buyer or Sellers position confidential unless they tell us it's OK to disclose.
You'll never know they lost their job, getting a divorce or have health issues.
You might see in the description "highly motivated" or "bring all offers" or similar, but in todays market that's fairly rare.
I've had Sellers be home at showings start talking about their situation and after we left and decided to make an offer I told my Buyer Client "Well that just cost them $10,000". One reason Sellers should not be at home for showings. They talk too much.
how can we find the most motivated sellers in a particular community
those who are
moving for their job and have to sell
getting divorced
going into foreclosure and cannot keep up with payments ?
Is there a way to get this information or just agents have that ?
One way would be for either you or your agent to check recently-filed probate cases and then contact the executor or personal representative to see if they will be selling a property. Or check death notices and then see if the decedent owned property. I'm in the process of selling my mother's house and I can't tell you how much I've been inundated with phone calls and letters from agents and investors inquiring about the house. (And since the house is already on the MLS, I've warned agents that they are in violation of Standard of Practice 16-4 of NAR's Code of Ethics for them to solicit me. And I added that I didn't want to hear the excuse that they were too lazy to check the MLS before contacting me.)
One way would be for either you or your agent to check recently-filed probate cases and then contact the executor or personal representative to see if they will be selling a property. Or check death notices and then see if the decedent owned property. I'm in the process of selling my mother's house and I can't tell you how much I've been inundated with phone calls and letters from agents and investors inquiring about the house. (And since the house is already on the MLS, I've warned agents that they are in violation of Standard of Practice 16-4 of NAR's Code of Ethics for them to solicit me. And I added that I didn't want to hear the excuse that they were too lazy to check the MLS before contacting me.)
Have to agree with you 110% Such activity would make me feel that I needed a tetanus shot after talking with such an agent.
There seem to be any number of 'code words' in 'Realtor-Speak' that mean something else:
Motivated seller/'bring all offers': Overpriced, but willing to drop price and negotiate; Alt. 'It's been on the market for a while and owner is finally willing to begrudgingly drop the price'
Charming/cozy: Small
Must See: Tough sell, but, maybe if the realtor can get you there in person
Ocean/water view: Stand on toilet and look between buildings for a glimpse of the water
Needs TLC: In poor condition
etc.
And then, there are the wide angle pictures that make a closet look like a den ... and kitchen appliances appear to be 5ft wide.
how can we find the most motivated sellers in a particular community
those who are
moving for their job and have to sell
getting divorced
going into foreclosure and cannot keep up with payments ?
Is there a way to get this information or just agents have that ?
OP, whatever you do, don't ask your Realtor to do it for you. If you do it on your own, that's another issue you can deal with yourself. If I was a "motivated" seller and you contacted me, I would be largely offended unless the home was a FSBO and I marketed/advertised it that way. Just my $.02 worth.
how can we find the most motivated sellers in a particular community
those who are
moving for their job and have to sell
getting divorced
going into foreclosure and cannot keep up with payments ?
Is there a way to get this information or just agents have that ?
No you don't get that info from agents. I wouldn't disclose this info to my agent. They can't tell you anyway.
Just because someone needs to sell - for whatever reason - doesn't mean the house will be a bargain basement price.
When my grandmother died my mom was the executor of the estate. She took 2 years to sell the house. Why? She had to answer to her 4 siblings and a judge. There was an appraisal done and the house could not be sold for much below the appraisal. It wasn't. It was sold for more than the appraisal.
Foreclosures are entirely different. You're dealing with the bank and they are a pain. They take weeks to respond and frequently won't go lowering than the listing price.
Getting a divorce? You want to be a part of that mess? Divorces can drag on for years and years. Just because there's a divorce doesn't mean either party is in a hurry to sell. They each have their own agenda.
Many of these scenarios are not going to be the land of cheap houses or quick and easy closings.
Back in the day, my sister was in the market for a home. Dad visited local fire stations inquiring about locals who were elderly and may need to sell. He got a lead on a fixer which he financed for sis.
Finding a property before it is listed where there will be a motivated seller takes work and shoeleather.
Find out the owner from the assessor database and see if they died, etc.. You might even find their drama on social media.
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