Skip tracing for real estate is a strategy you can employ to generate leads you would’ve never found by any other means. Real estate lead generation usually employs traditional methods, such as word of mouth referrals, social media advertising, listing on sites like Zillow, and cold calls. Although these are all well and good, you could be missing out on leads who aren’t contacted by anyone else if you skip on skip tracing.
Learning how to generate leads for real estate means consulting alternative methods, too! Read on to find out more about skip tracing and how it can benefit your lead generation:
What is skip tracing?
A “skip” is named as such because it represents someone who has decided to “skip town.” There are many reasons for wanting to do so. They may want a more nomadic lifestyle, have a desire to explore the world, or escape from situations or people that tie them to their hometown.
Skip tracing is the act of professionally tracking down these individuals using multiple methods, all of which uses publicly accessible information like dental records, receipts of purchases, and interviewing the skip’s own personal network. Utilizing skip tracing for real estate can get you access to individuals who have not been contacted by any agent before.
Skip tracing gets you access to off-market deals
Off-market deals are usually homes that are not listed on any MLS site, and they could belong to a skip. These homes are usually either abandoned or used very sparingly, if not at all.
Being able to convince a skip that their property is worth selling could not only encourage them to maintain their way of living, but rather offer them a chance to keep that kind of lifestyle going with an additional source of income. These homes usually have less competition too, considering their off-market status, which then means they can be sold much, much faster.
Certain homes are candidates for this
Before you pursue skip tracing, understand that certain homes are better candidates than others. Here is a quick list of some homes that are:
- Homes belonging to absentee owners
These can be classified as abandoned homes and can still sell for a good price.
- Homes catering to empty nesters
Empty nesters might want a smaller home after their children move out.
- Homes that belonged to a dead owner
This is ideal if the owner had no desire to pass on their home.
- Homes owned by a senior citizen
Due to aging, senior citizens may want properties that are smaller and easier to manage.
- Homes owned by the recently-divorced
This can help divorcees move on and start a new life.
Absentee homeowners can benefit
Although it may not seem like it at first glance, absentee homeowners have problems of their own. Imagine constantly having to pay for a home you have no desire being in. That’s lots of unanswered mail just piling up!
Convincing an absentee homeowner to sell their home is much easier than convincing anyone else. Because they have no desire to stay, they may be more amicable to deals that can benefit you both financially.
Skip tracing has its pros and cons
Like all services, skip tracing has its pros and cons.
A huge pro is finding a lead no one else has bothered to speak to. This automatically gives you leverage over the competition and allows for a one-on-one conversation with the skip.
Alternatively, another con to consider is the reaction you can generate from the skip. These people don’t want to be found, and can react extremely negatively to being contacted. However, this doesn’t mean that they aren’t amicable to a conversation. Presenting your pitch in a level-headed and objective manner could get them to listen. Approach with their best interest in mind.
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