What Is Skip Tracing? A Guide For Newbies

Understanding how to utilize skip tracing to find real estate contacts could give you the heads up over the competition that you’ve been needing recently! Traditional and digital means to generate leads are all well and good, but using skip tracing to find an entirely new niche target market could spell the difference between you and the competition when it’s time to smash those quotas.

But what is skip tracing exactly, and why use it for real estate? Below, we compiled some skip tracing FAQs that might have been on your mind and answer each extensively. Read on to find out more!

What is skip tracing?

To put it simply, skip tracing is the process of finding people who don’t want to be found. They may have their own reasons for doing so, but they mostly don’t use the internet extensively, are difficult to reach via landline or cellphone, and likely have abandoned property in the pursuit of a more nomadic lifestyle.

Because they are so hard to reach, they’re likely either living paycheck to paycheck or are in need of more sources of income. As someone in real estate, you could skip trace them, convince them to sell off their property, and ask for a cut when they profit.

How do I know if I need to hire a skip tracer?

Skip tracing may be necessary for you if you unfortunately already have a deal going with an individual, and instead of paying you, they skip town. Skip tracers can ensure that they’re made accountable and you can collect the profit that rightly belongs to you in the deal.

Skip tracers can also help you a lot if you’ve been having trouble with lead generation. You might be talking to the same people who ditched you for other agents, and expanding your portfolio is your best bet. Because these people are reclusive, you might be the only agent they ever talk to.

Who can benefit from skip tracing?

Apart from real estate agents, lots of people can benefit from the skip tracing process. Below, we cite some of them:

  • Landlords: They might buy property from someone who skipped town or need rent.
  • Banks: They could help these people become more financially secure or chase them for debt.
  • Private businesses: They may want to hire the person they’re skip tracing, but don’t know how to contact them.
  • Journalists: A piece on the missing individual might be in development, and they need a one-on-one interview.
  • Debt collectors: Skip tracing can help them get paid immediately.

What is the skip tracing process like?

Although skip tracing can vary from one person to another, here is the general process:

  • Information verification: Although these individuals may seem untraceable, they do leave some traces. Receipts from recent purchases may be unearthed. Dental and medical records may provide some clue as to where they might be based now. Skip tracers will then collect this information.
  • Getting more necessary information: This could come in the form of job applications, public tax info, utility bills, and more.
  • Speaking to friends and family: No man is an island. They will likely get a hold of their close contacts for interviews.

How much does skip tracing cost?

Skip tracing can be quite lucrative! Professional skip tracers can earn anywhere between $27,000 to $45,000 annually, depending on the search jobs they incur.

For a basic search, expect to pay $450 to $800. For a rushed job, which will likely get you a result in just a week, you can expect to pay $500 to $1,000. Bear in mind that companies rarely work on a “No find, no charge” basis, so understand that sometimes your contact won’t be found. This is why it’s important to contact skip tracers with a good reputation.

Need more info?

The best online skip tracer for real estate is ready to serve you! At Best Skip Tracer, you get free membership forever with the best data and price guaranteed. All you have to do to get started with us is to follow a four-step process to be in contact with a professional skip tracer.

Click the “Get Started” button to skip trace today!